GBX ICO Whitepaper Analysis.

GBX stands for the Gibraltar Blockchain Exchange, which is a subsidiary of the Gibraltar Stock Exchange (GSX). The GBX looks to become a world-leading token sale platform (and digital asset exchange) operated by a regulated stock exchange belonging to the European Union. By using a rules-based system, the exchange aims to apply for a license by the Gibraltar Financial Services Commission under Distributed Ledger Technology Providers, which was established starting 2018.

The blockchain-based exchange has an upcoming ICO and has already published the whitepaper. Due to the length and technical aspect of the said document, we shall provide here a summary for those interested in investing on the platform.

According to the Whitepaper, the GBX is expected to mean:

  1. A globalised listing and token sales springboard dedicated to utility tokens.
  2. A digital asset exchange with a marketplace where traders and investors can participate, along with utility token issuers, with trust thanks to a listing where every token has been approved by an institutional grade process.

The GSX has the intention to develop a stock exchange system that is fully tokenised and aims to provide a way for listing initial token sales to give the opportunity of issuing tokenised securities to a broader audience.

The overall vision of the GBX is detailed in the document. It mentions:

  1. A marketplace for utility tokens under the regulation of one of the most blockchain-friendly governments in the world.
  2. Create an elevated standard for new tokens under rules to ensure their quality.
  3. Develop an exchange with maximum liquidity and transparency thanks to the efficiency and legitimacy of the blockchain as a platform.
  4. Enable better access for members to early investment opportunities and other benefits of the same kind.
  5. Increase confidence and trust in the ideals and advantages of cryptocurrencies and everything they have brought to the table today. Helping give better credibility to them as a whole.

The Rock Token, the cryptocurrency to be sold, will support the functioning of the GBX market. Said token is an ERC20 token.

Said token looks to create an engaged community, deliver unique opportunities for owners, and incentivise members of the community to uphold values.

The GBX token sale platform is explained with its critical components in the following features:

  1. It’ll function through a website which users will access through an external app.
  2. Tokens will only be admitted after completing a compliance process.
  3. At the first stage, issuers may receive Ether and/or Rock Tokens.
  4. Issuers can monitor the process of their issuance.
  5. Buyers can deposit and withdraw both fiat currencies and tokens.
  6. Buyers will have to undergo AML/KYC compliance procedures before opening an account in GBX.

To guarantee token quality, issuers will need to:

  1. Have a Sponsor.
  2. Publish a whitepaper and terms of sale.
  3. Submit applications to GBX.
  4. Be reviewed and approved by the GBX.
  5. Be approved.

Only after all of this finishes will the token be allowed for issuance.

The total RKT supply is 900,000,000, and 318,556,250 RKTs are for token sales. The total number of RKT available for the public sale is 60,000,000 and the price of each RKT is USD 0.1. Payment can only be made with Ether during public sale. Ether price to be fixed 12 hours before the public sale starts.


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