Re: [Pre-ANN] B&C Exchange – A decentralized cryptocurrency exchange for everyone
Additional Information
Definitions:
B&C Exchange will be the trading platform where cryptocurrency trades are conducted. It is the primary trade name of the decentralized exchange.
BlockShares (BKS) are crypto-based equity in the B&C Exchange project. Owning BlockShares allows a user to receive blockchain-distributed dividends (paid in Bitcoin), from sales of BlockCredits. If you would like to see an example of a successful dividend distribution, you can see proof of a blockchain dividend paid to shareholders on the Nu network. It is expected that owning BlockShares will also allow a user to decide through blockchain voting many different operational functions of B&C Exchange, including the amount of BlockCredit transaction fees charged per trade.
BlockCredits (BKC) are the transactional tokens used on B&C Exchange to pay for trades. It is expected they will be sold for 1.00 USD per BKC by elected custodians. Similar to long-distance phone credits or postage stamps, no promises of future value will exist for BlockCredits. Paying for a BlockCredit simply entitles a user to conduct a certain amount of transactions on the B&C Exchange while it is operational. The amount of transactions that 1.00 BKC can complete depends on the amount of transaction fees required by the network as determined by BlockShares holders.
Broad Disclaimer:
NuShare ownership grants the holder the ability to make financial decisions for the Nu network. By extension, BlockShare ownership grants the holder the ability to make decisions for the B&C Exchange network. This means that our fundraising was not a public IPO for a security; rather, it was an additional equity funding round for membership within a global distributed autonomous organization (DAO). To date, NuShares have provided DAO equity to users who act like managers to collectively make blockchain-based financial decisions about the Nu network through functions like custodial grants, parking rate votes, and motions. B&C Exchange will be a similar DAO with no national affiliation and no corporate structure or governance, instead relying on collaborative decision making through blockchain consensus. All BlockShareholders act as managers of their network, with no one shareholder having the ability to make a unilateral decision.
No price guarantees will ever be made about the future value of BlockShares and it would be unethical for us to do so. Interested parties only purchased BlockShares if they were fully aware of the risks of developing a new technology like B&C Exchange - up to and including a failure to create a working platform - and if they were comfortable with the existing online reputations and credibility established by B&C Exchange developers on past projects like Peercoin, NuBits, and NuShares.
While B&C Exchange is not affiliated with any one country, our view on global DAOs like B&C Exchange is supported by a quote from this article:
Quote
>Another use case that the authors view as less problematic through the lens of US law is the use of tokens to create distributed collaborative (autonomous) organisations (DAOs).
>In this instance, tokens are used to denote membership in an organisation, with the user retaining the expectation that he or she may benefit financial(ly) from the ownership.
>The report suggests that, in this case, token owners may have some control over fund utilization, making them effectively managers and/or partners in the success of the entity, a factor that makes them less likely to be viewed as securities.
>Depending on the nature of the organization and the actual control held by people who have committed capital, shares organizations which are structured on the blockchain are likely not to be considered as securities, the paper suggests.
>In this instance, tokens are used to denote membership in an organisation, with the user retaining the expectation that he or she may benefit financial(ly) from the ownership.
>The report suggests that, in this case, token owners may have some control over fund utilization, making them effectively managers and/or partners in the success of the entity, a factor that makes them less likely to be viewed as securities.
>Depending on the nature of the organization and the actual control held by people who have committed capital, shares organizations which are structured on the blockchain are likely not to be considered as securities, the paper suggests.
*****
Branding
We chose to create a brand that expresses a simple boldness while still signalling innovation and creativity. These logos are intentionally much less complex than many standard cryptocurrency logos. This will ensure that they look sharp and clear even at small resolutions.
B&C Exchange is short for Blocks and Chains Decentralized Exchange and weve captured that name in the logo. There are several metaphorical interpretations possible for the B&C Exchange logo, including:
- A block created by the negative space in the middle, surrounded by two different colored chains
- A price chart axis with a green (or navy) up arrow exploding to the right
- A decentralized network that is connected by different colored peers around the outside, with no centralized control in the center of the logo
The deep navy, vibrant green, and neutral white colors selected are designed to communicate two major categories of brand associations. The first category includes keywords such as professional, ethical, reputable, credible, and efficient. The second category includes keywords like innovative, empowering, and futuristic.
Finally, we used the basic shape of the B&C Exchange brand to create two tokens:
BlockShares
BlockCredits
We have hosted the full package of logos on BCExchange.org. Anyone is free to use these logos in whatever way they wish as long as no suggestion is made that B&C Exchange developers endorse the project, product, or service. The full package includes six different color variations on the primary logo as well as multiple icons. Download: https://github.com/BC-Exchange/bcexchange.org/blob/gh-pages/assets/img/B-C-Logos.zip?raw=true
We have also included a branding guide that shows the basic building blocks of our brand. Here is a preview:
