Openledger ApS brings to the blockchain market; the OpenLedger DEX, a place to trade cryptocurrency and tokens. In addition to that, offers a custom blockchain development to businesses and helps startups raise capital through token sales. In this interview, Ronny Boesing, the founder and CEO of OpenLedger Aps will be discussing the project with us and the opportunities available.
1) Please tell us your name and about yourself?
Nice to meet you! My name is Ronny Boesing, and I’m the founder and CEO of OpenLedger ApS. We’ve been operating since 2014, which is quite a while in blockchain years!
I spend a lot of my time now talking about what we do, either through OpenLedger’s social channels, or at events and conferences around the world.
2) What is Openledger ApS?
OpenLedger ApS is a business ecosystem based on the blockchain. We have a decentralized exchange, a blockchain-oriented ad platform, a blockchain explorer and consulting and custom development services – all designed to let a business take advantage of blockchain’s unique benefits, without necessarily having the know-how in-house.
There’s more in the works too: we’re advisory partner on the genEOS project – I go into more detail on that below – and we’re working on our OCASH debit card.
3) What problems are you solving and what are the major features and services provided by Openledger?
Let’s start with the first question! OpenLedger solves the problem that businesses need blockchain but can’t access it. The barrier to entry is mostly about skills and comprehension – businesses just want the functionality, so that’s what we help them to access.
In particular, we’ll match businesses up with the right tools, and help them with things like selecting the right blockchain, development and deployment.
Our R&D department spends a lot of time working with clients to make sure that we have the right solutions – this is usually the longest phase, as we’ll want to ensure a perfect fit before we start moving forward on development and deployment.
OpenLedger ApS offers these products and services:
4) What is the technology behind Openledger?
We built OpenLedger DEX on the BitShares blockchain. There are a few reasons behind that decision but the main driving force was the need to find a blockchain that’s versatile and fast enough, but had already been road tested.
BitShares lets users convert different coins and currencies into the ‘bit’ version of themselves – ‘bitUSD,’ ‘bitBTC,’ ‘bitCNY.’
Then these can be used and traded seamlessly on the BitShares blockchain. Behind the scenes, the BitShares network handles smart contracts in a unique way too, such that counterparty risks are avoided while loans are backed by collateral.
Finally, a key factor in our decision was the consensus algorithm. I personally don’t believe any proof-of-work blockchain can ever be fast enough to deliver on the potential of the technology, and I feel the same way about proof-of-stake.
The Delegated Proof of Stake (DPOS) consensus that BitShares runs on can do that.
While OpenLedger DEX is built on BitShares, our tech stack also includes EOSIO, genEOS, HyperLedger, and Ethereum, and we’re able to implement solutions for our clients based on these blockchain technologies as well.
5) Tell us more about the Openledger DEX/Exchange and wallet services.
OpenLedger’s DEX is designed to be easy to use. It runs on the BitShares blockchain, which I maybe got a bit too in-depth about above (!) but this means that it’s unusually versatile: coins from any blockchain, fiat currencies and more can all be traded on the DEX freely using a simple graphical interface. There’s also a mobile wallet app, available for both iOS and Android.
We spent a lot of effort making OpenLedger DEX as easy to use as possible, partly because security, the range of coins on offer and performance were basically taken care of by running it on BitShares.
It’s decentralized and blockchain-based, so it’s effectively unhackable, unlike centralized exchanges which get hacked quite a lot. We have over 50 coins and more are constantly added. And there’s a new block every half second, with speeds of up to 100,000 transactions a second.
6) What are the packages available in your marketing services?
OpenLedger’s marketing team is highly experienced both within and outside of the blockchain space, giving us the expertise to reach multiple audiences effectively.
The ultimate choice is up to the client: we can act as an outsourced marketing department, a fractional CMO, or we can handle specific aspects of an ICO’s marketing on a project basis.
End-to-end promotion for an ICO would see us create landing pages, PR, blog posts in appropriate publications and sites, outreach, one-pagers and white papers – everything you need, every step of the way. Or we can create a single white paper. We’d discuss with the client what they wanted and how to reach their goals.
7) What is the nature of your Legal services?
OpenLedger offers two escrow routes for ICOs, both with legal as well as technical support. ICO escrow makes initial offerings more secure, transparent and profitable.
Our ICO escrow services can be in the form of an Ethereum-based smart contract-powered DAICO (Decentralized Autonomous ICO), or a traditional escrow model is also available.
In the second instance, OpenLedger joins your ICO as a reliable intermediary and oversees payments and funding. OpenLedger enforces financial industry requirements like KYC and AML standards, deploys and reviews smart contracts, provides trusted storage for data assets and secures fund storage and transfer.
In addition, our legal team works hard to ensure that OpenLedger’s offerings are compliant with legislation and regulations in countries around the world, in Asia, the USA and Europe especially.
8) Tell us more about your public relations and communication services.
OpenLedger ApS has a staff of marketers, PR and communications professionals, all with extensive experience of the specific demands of marketing blockchain products and projects.
We’ve participated in over 10 successful ICOs, and raised $90m+ in investment in the process. While we do offer technical ICO support, it’s more about knowing which channels to market an ICO through, and how to create everything from press releases to landing pages that will actually get people on board with your ICO.
9) What is the structure of your crowdfunding technology?
OpenLedger’s crowdfunding can be delivered by a traditional ICO or via an Ethereum-based DAICO based on a smart contract – see above where I go into more detail on this.
Our DAO Space (check the first version of it on the OL DEX platform), will give users the ability to control their own crowdfunding model and to add crowdspending (joint funds management) and other functionality.
Users can reap the fruits of our experience: during our journey, we fell prey to many of the common issues that plague project teams and supporters in the digital crowdfunding space.
We encountered phishing attacks, we had people make mistakes in addresses and lose funds, we had users who struggled to operate crypto wallets. And we ran into the inherent shortcomings of the tools available at the time: not many currency options, restrictive smart contracts that responded slowly, and lack of transparency.
That’s partly why we began developing DAO Space. Running on the blisteringly fast BitShares blockchain, DAO Space will let users build and operate their own smart contracts.
It’ll be integrated with the OpenLedger DEX so there’s large and expanding choice in currencies. And it’s transparent, permissioned, flexible and responsive. Plus, because it all takes place on the blockchain, it’s unhackable.
10) Do you have any current opportunities for investors?
The main investor opportunity which we at OpenLedger are very excited about is genEOS – an EOS-based blockchain platform for enterprises.
OpenLedger serves as a partner for this project, and we spend a lot of our efforts on this unique solution. genEOS takes everything that’s great about EOS, which is, in particular, accelerated processing and transaction speed, and adds ease of adoption and operation, and a rich list of features for businesses.
We’ve built a development environment using EOSIO software that’s like using a conventional operating system. What that means is, you still need to have skills and vision to create a successful Dapp – but you don’t need to have extensive, in-house blockchain development skills.
11) Could you tell us about your team and customer support?
OpenLedger ApS consists of two offices. The Danish office is responsible for business development, financial and legal activities.
Our second office in Belarus consists of more than 50 people – true experts in their field. Developers, Q&A specialists, R&D department – each of them is one of the best blockchain and cryptocurrency specialists, not only in Minsk, but in Eastern Europe.
The Minsk office is a member of Belarus Hi-Tech Park, an innovative cluster which provides a special business environment for IT companies. It can be thought of as essentially a local Silicon Valley, which received another boost when a new law was passed that validated a lot of digital economy terms and makes crypto businesses 100% legal.
This is the best environment for the business we’re in. We have access to the greatest tech minds thanks to the Hi-Tech Park participation, and the fact that the government and economy is now open for the blockchain and crypto industries. Altogether this is a great advantage for OpenLedger which lets us provide better products and services.
12) How Safe is Openledger, would you like to discuss your legal and compliance details?
As with any blockchain-based entity, our products and solutions are inherently safer than any other technology. OpenLedger DEX trading platform inherits the security of a BitShares/Graphene blockchain, which is achieved via the peer-to-peer network structure (so that there’s no central point of failure), decentralization (so that the integrity of the whole system is not compromised) and encryption.
As far as legal is concerned, we’re paying great attention to this part of OpenLedger operations. We’re very much interested in greater accessibility of our projects, that’s why strong legal teams in Europe, the USA and Asia not only work to cover daily OpenLedger activities, but also advise on our projects to make sure they comply with different countries’ legislation frameworks.
13) Do you have more information for our readers?
We recently redid our website at openledger.info, so if you’re looking for more about what OpenLedger does, that’s a great place to start. And if you’re looking to connect with me, you can check out my LinkedIn – It’s at the top of this page, but here it is again – or watch out for me at these upcoming events:
If you’d like to book a meeting at one of these, drop us an email at email@example.com. I’ll be happy to talk blockchain and business with you, give you more detail on OpenLedger products or hook you up with our team to get your project off the ground!
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