Greetings community,

This is a duplicate post from general bitcoin discussion, but it seems very relevant for the micropayments board.

I’m one of the early Bitcoin entrepreneurs and have posted my first project announcements on this forum back in 2012. I’ve been an active participant of the community growth process, taking Bitcoin from nothing to where it is today. As someone who introduces new people to crypto as a daily full time activity, I can clearly see a few small things that act as major barriers for Bitcoin adoption and can be improved.

The main one is the need to deal with super small fractional numbers. First-time buyers get pretty disappointed when they learn that they can’t buy a whole Bitcoin. And 0.015 of something does not feel like a serious investment. It is also always a challenge for wallet developers to make an interface that is user-friendly and displays ultra small fractional numbers at the same time. With Bitcoin continuing its climb, this issue will only get worse.

Today, I am excited to introduce a project designed to solve this, and a number of other adoption issues as a side effect.

Meet SATO: the smallest unit of Bitcoin tokenized as an ERC-20 asset.

What is Satoshi (SATO)

• SATO token represent 1/100,000,000 of a Bitcoin, also known as Satoshi or sat, following Nakamoto's suggestion for Bitcoin fractionalization
  
• Improves Bitcoin accessibility by offering whole-number ownership and human-readable amounts
• Enhances user experience by eliminating the need to deal with multiple decimal places
• Reduces psychological barriers for new users entering the cryptocurrency space

Bitcointalk History Is The Inspiration

On this very forum Satoshi himself recognized early on that further development of Bitcoin may require it to become more divisible:


Shortly after, another user named “ribuck”, suggested the idea of commemorating Satoshi by using his name for the small fractions of Bitcoin currency. Years later the community embraced the idea and it became a de-facto standard name for 1/100000000, the smallest fraction of a Bitcoin.

Benefits

Human-readable Numbers
The need to count zeroes and deal with micro amounts introduces a lot of friction to Bitcoin's useability. New users perceive assets as more valuable if they own whole numbers. Receiving 1,362 Satoshis (SATO) is a much nicer first-timer experience than 0.00001362 BTC.

No Rounding Losses
Significant amounts of Bitcoin are lost by users due to inadequate rounding of balances by wallet and exchange services. 0.00014 BTC often becomes 0.0001 and 0.00004 goes to the exchange balance. Transitioning to whole numbers would help avoid such mistakes.

Small Balance Abandonment
It is also pretty common among Bitcoin users to abandon or neglect wallets with perceptually insignificant balances, such as 0.0023 BTC, while the dollar equivalent of such balance can often buy you a pair of new shoes. 230,000 SATO equivalent is much less likely to be abandoned.

Lower Transaction fees
EVM-based blockchains enable lower transaction fees compared to the original Bitcoin blockchain, particularly for mass distribution use cases, such as airdrops and reward claims. A ~$0.01 per transfer fee unlocks day-to-day retail and p2p use cases.

DeFi Ecosystem
ERC-20 standard brings Bitcoin to the whole spectrum of DeFi ecosystem services. Satoshi (SATO) can be bridged to any other blockchain using existing ERC-20 bridges.

Recognized Unit of Account
The “Satoshi” is already widely recognized by the crypto community as a unit of account, meaning 0.00000001 BTC. Now you can use it in your wallets.

Security and Transparency

Each SATO is backed by 1/100,000,000 of a Bitcoin (using WBTC). The wrapping and unwrapping process is facilitated by a simple smart contract, ensuring transparency and minimizing security risks. Anyone can audit the reserves on-chain via blockchain explorer.

The Satoshi (SATO) token is live today on major blockchains including Ethereum, Optimism, Arbitrum One, and Polygon.

Try it out: https://getsatoshi.org/

Litepaper

For an in-depth understanding of SATO, please refer to our Litepaper.

Join the Community

• Website: getsatoshi.org
  
• Email: hello [at] getsatoshi.org
  
• Twitter: @sato_token
  
• Telegram: @satotoken
  

Greetings community,

I’m one of the early Bitcoin entrepreneurs and have posted my first project announcements on this forum back in 2012. I’ve been an active participant of the community growth process, taking Bitcoin from nothing to where it is today. As someone who introduces new people to crypto as a daily full time activity, I can clearly see a few small things that act as major barriers for Bitcoin adoption and can be improved.

The main one is the need to deal with super small fractional numbers. First-time buyers get pretty disappointed when they learn that they can’t buy a whole Bitcoin. And 0.015 of something does not feel like a serious investment. It is also always a challenge for wallet developers to make an interface that is user-friendly and displays ultra small fractional numbers at the same time. With Bitcoin continuing its climb, this issue will only get worse.

Today, I am excited to introduce a project designed to solve this, and a number of other adoption issues as a side effect.

Meet SATO: the smallest unit of Bitcoin tokenized as an ERC-20 asset.

What is Satoshi (SATO)

• SATO token represent 1/100,000,000 of a Bitcoin, also known as Satoshi or sat, following Nakamoto's suggestion for Bitcoin fractionalization
  
• Improves Bitcoin accessibility by offering whole-number ownership and human-readable amounts
• Enhances user experience by eliminating the need to deal with multiple decimal places
• Reduces psychological barriers for new users entering the cryptocurrency space

Bitcointalk History Is The Inspiration

On this very forum Satoshi himself recognized early on that further development of Bitcoin may require it to become more divisible:


Shortly after, another user named “ribuck”, suggested the idea of commemorating Satoshi by using his name for the small fractions of Bitcoin currency. Years later the community embraced the idea and it became a de-facto standard name for 1/100000000, the smallest fraction of a Bitcoin.

Benefits

Human-readable Numbers
The need to count zeroes and deal with micro amounts introduces a lot of friction to Bitcoin's useability. New users perceive assets as more valuable if they own whole numbers. Receiving 1,362 Satoshis (SATO) is a much nicer first-timer experience than 0.00001362 BTC.

No Rounding Losses
Significant amounts of Bitcoin are lost by users due to inadequate rounding of balances by wallet and exchange services. 0.00014 BTC often becomes 0.0001 and 0.00004 goes to the exchange balance. Transitioning to whole numbers would help avoid such mistakes.

Small Balance Abandonment
It is also pretty common among Bitcoin users to abandon or neglect wallets with perceptually insignificant balances, such as 0.0023 BTC, while the dollar equivalent of such balance can often buy you a pair of new shoes. 230,000 SATO equivalent is much less likely to be abandoned.

Lower Transaction fees
EVM-based blockchains enable lower transaction fees compared to the original Bitcoin blockchain, particularly for mass distribution use cases, such as airdrops and reward claims. A ~$0.01 per transfer fee unlocks day-to-day retail and p2p use cases.

DeFi Ecosystem
ERC-20 standard brings Bitcoin to the whole spectrum of DeFi ecosystem services. Satoshi (SATO) can be bridged to any other blockchain using existing ERC-20 bridges.

Recognized Unit of Account
The “Satoshi” is already widely recognized by the crypto community as a unit of account, meaning 0.00000001 BTC. Now you can use it in your wallets.

Security and Transparency

Each SATO is backed by 1/100,000,000 of a Bitcoin (using WBTC). The wrapping and unwrapping process is facilitated by a simple smart contract, ensuring transparency and minimizing security risks. Anyone can audit the reserves on-chain via blockchain explorer.

The Satoshi (SATO) token is live today on major blockchains including Ethereum, Optimism, Arbitrum One, and Polygon.

Try it out: https://getsatoshi.org/

Litepaper

For an in-depth understanding of SATO, please refer to our Litepaper.

Join the Community

• Website: getsatoshi.org
  
• Email: hello [at] getsatoshi.org
  
• Twitter: @sato_token
  
• Telegram: @satotoken
  

I've explained that I was just checking my name in google search and this thread came up.


As you correctly said I have not been involved in the company since 2014 and have no idea what were they doing in Europe. I have too many other things to worry about - google "Ambisafe", "Orderbook", and "Unicorn tokenization corp".

My best guess is that Francesco decided to abandon the US legal entity and illegally use the code & intellectual property for the Flyp.me without any notices to Noveltylab shareholders (including myself).

Andrii Zamovsky is here.

I'm just here to clear my name since it comes up in search. You can check this account's other messages to validate the authenticity.

Long story short:

I've started NoveltyLab Inc, which was a US-based company in 2013 with Nickolay Babenko, Anton Tovstonozhenko and Francesco Simonetti.

The first two and myself are Ukrainians, Francesco is Italian. No Russians.

NoveltyLab Inc launched HolyTransaction.com, which was the first multi-currency wallet (before tokens were a thing) and operated it for approximately a year.

in 2014 I've resigned from the company and Francesco took over the CEO role.

It looks like things might have gone a bit sideways after that.

To my best knowledge, the IP or other rights were never properly transferred from NoveltyLab Inc to Flyp.me or any other European entities, at least I have not received any notices or dividends.

I don't know what has actually happened, but I hope everyone gets their bitcoins back.

Could you point to any ICO platform that works better? (don't mess with shitty ico scripts)

I'm not aware of any operational.

Our app is actually available for download from the appstore right now:
https://itunes.apple.com/us/app/propy-buy-and-rent-properties-overseas-and-home/id1017369540?mt=8

Smart contracts are still in the prototype phase. We are still finalizing how bank transactions and identity verification will be linked there.
I've personally architected the smart contracts and ready to answer all questions.

Our strategy for replacing government-maintained registries with the blockchain is the following:
1. mirror existing databases & transactions in public Ethereum network
2. Once companies that require access to the government registries realize that they have faster and more convenient solution (Ethereum blockchain) they'll start using it as a primary source of data.
3. Once government's realize that most of the consumers of the database already using blockchain and it works, they should be comfortable declaring it as a primary one. Our team has all required connections and expertise to make it happen (California and Dubai are likely to be the first ones).


Cheers
Andrey
Blockchain Architect @ Propy

Answering blurryeyed:

The short answer is that blurryeyed is a troll and none of his claims survive any serious verification.

Specifically:
1. Only negative feedback is present despite multiple successful and well functioning projects
2. His post history is pure trolling and a couple of dumb questions like “how to launch a wallet”
3. He seems to be failed to understand that Ambisafe is a blockchain software company with multiple software engineers, serving multiple clients

Each item one by one:

Yes, and it’s ok. It was the first ever bitcoin merchant service,  launched 2011. It’s 2017 now.
https://en.bitcoin.it/wiki/BitMerch

Same here. One of the first bitcoin exchanges that allowed people to buy BTC using credit card. All complains were resolved in 2013.



Yes man, it takes time to operate company in blockchain space. We have support department now that answers questions.

The ICO didn’t reach minimal amount. All investors got their money back. It is a proof of the opposite to what you are claiming.

Minor problems with bounty campaign, everything has been addressed.
The fund invests in other iCO’s as promised:
https://medium.com/@Taas/taas-invests-1-million-in-bancors-150-million-token-allocation-event-e4e457d8d8c6

Ambisafe had a contract with them, but it has been terminated at early stages of the project. I don’t really follow on what’s going on there.

There has been multiple planted attacks to the project, including trolls at bitconitalk and real DDoS attack at the launch of the ICO.
I guess it is paid by some of competitors.


Nothing is wrong with this project. Legit team of investment bankers, issuing shares of real company on the blockchain. Unfortunately most of the cryptocurrency enthusiasts cannot appreciate the complexity of legal work that has been done.

It’s not an attempt, it’s the first smart contract based trading platform that actually works. Everyone is welcome to try it out.

All transaction issues has been addressed, no new complains has been seen for many months.

Ambisafe team have developed all smart contracts for the project. Feel free to contact chronobank representatives for confirmation.

They’ve requested a bit of marketing support from us and didn’t have a bitcointalk account to post the announcement.  According to our due dilligence the project is legit. All questions have been answered.

Yes, we have customer support department with 5+ people. This is the only way to handle questions from 3000+ investors all speaking different languages. What’s wrong with this?

http://i.imgur.com/4vK8qmv.jpg

Ambisafe, an Ethereum asset management platform has just announced its newest development — Orderbook, a trading platform for Ethereum-based ICO tokens.

Ambisafe has helped to launch successful ICOs for several blockchain companies, particularly Polybius, TaaS, and Chronobank. The Polybius ICO has so far raised over $21.2 million dollars, whilst the TaaS ICO has raised over $7.5 million dollars with over 3,900 investors.

Orderbook, a new venture organized by the team behind Ambisafe, is a trading platform for Ethereum-based ICO tokens. Through this trading platform, ICO participants can take advantage of cutting edge security, in which all critical operations are executed via Ethereum smart contracts, and all assets will be held “on-chain”.

All asset information will be available on the platform including dividend history, trading protocols, transaction volumes and analytics from trusted cryptocurrency sources.

Furthermore, The Orderbook exchange platform will streamline operations and ensure transparency for both ICO founders and traders. Since the platform is implemented as a set of smart contracts, all trade history will be available for audit to ensure that there are no fraudulent manipulations. The unique trading interface will contain additional information about companies and provide the ability to receive dividends directly for traders, thus creating an efficient, transparent and versatile environment for the cryptocurrency industry.

To learn more about Orderbook:
● Website: https://orderbook.io/
● Facebook: https://www.facebook.com/orderbookio
● Twitter: https://twitter.com/orderbook_io
● Telegram: https://t.me/joinchat/AAAAAA2i5AUMn3RpatYG5Q

Please note that Orderbook will be launched as alpha version which may include minor bugs and non-critical issues.

Media Contact: media@orderbook.io

I'm the founder of Ambisafe (http://ambisafe.co/). We work as a technical partner for multiple projects in crypto space (Polybius, TaaS and Chronobank are some of the recent examples, you can find the rest here: ).

Some of our clients are new to this community and don't have accounts at bitcointalk, so the announcements are posted on behalf of my account time to time.
It does not mean that they don't know what they are doing. Orocrypt team, for example, has very solid expertise in Financial industry and Investment banking.

Hello

We are looking for VPS in China to host one or more ICO websites for Chinese audience.

western internet is more not working than working from within the great Chinese firewall and we are looking to solve this problem by hosting a website mirror in China.

Obviously we don't have time for company registration according to official procedure.

Please contact me via telegram or skype if you can help with this:
http://telegram.me/nixoid
skype: andrew.nixoid

Cheers

The in-wallet exchange was broken for a couple of days. All exchange orders are executed now.

If someone still having an issues don't hesitate to contact us. And don't pay attention to trolls.

Cheers.

It's harder than it appears. You'll spend at least 6 months for trying to get some functionality that you expected to be working from the box.

Creating an automated platform for ICO / IPO is not trivial, as this type of project typically requires involvement of investment bank.
Besides tech stack you'll need PR (otherwise noone will now that your ICO is happening), Legal (to structure your financial instrument properly), industry insiders (to attrack target group of investors) and a lot of other people.

At Ambisafe (http://ambisafe.co/) we have the full tech stack that typical ICO requires and can connect you with the rest of the partners that you'll need. But again every project is different and you'll not find completely automated solution.

Feel free to reach out: sales@ambisafe.co

Best Regards,
Andrey

Here is some food for thought for the ones who don't believe in the business model:

I think that the most valuable part of this project is not the initial insurance product we promise to provide, but the working model of fully distributed on-blockchain insurance company. After we have proof of concept we can apply it to multiple markets, like catastrophe bonds, flight, medical and other stuff. We have picked crypto exchanges as the first target just because this is a major problem for the most of the investors in the first round.

But I bet if we develop the prototype we'll have a queue of insurance companies lined up with offers to acquire all the intellectual property. And all investors will get pretty quick reward in case of acquisition.

I see no problems in embedding this into blockchain explorer. A script that will go through new blocks of bitcoin every X minutes and update cache with the most recent transactions mapping. We already did similar things several times.



One of the core ideas of the project is to use smart contracts instead of legal contracts. Therefore we consider any blockchain that supports smart contracts. So far Ethereum is the most mature project with this feature. If something better shows up - we'll consider using it instead.


This is not exactly correct. Smart contracts control the funds, but for now only in Ethereum network. We need Ethereum to implement insurance policies logic, risk models, interaction with oracles etc. Financial transactions is just a tiny part of the project.

I'd like to explain bitcoin transaction signing in more detail.

1. Bitcoin balance will be secured by bitcoin multisig. 4 of 6 or something close to that.  We will post a detailed security model with risk analysis once we get to implementation. Here is an example of similar work of ours:
https://ambisafe.atlassian.net/wiki/display/AS/Wallet4

2. Ethereum contract will be aware of Bitcoin wallet balance.
3. Once event occurs that should trigger BTC transaction, Ethereum wallet will create transaction as an event, with the BTC address as one of the ethereum event parameters. In this way we are creating a "master record" of what should actually happen.

4. Our multisig wallet server software will be listening to the Ethereum contract events. Once Bitcoin-related event occurs, unsigned bitcoin transaction will be created. All signatories will get an email notification that something is waiting for their signature.

5. Every insurance committee member will sign in and sign transaction sequentially.

6. Once transaction has been posted to Bitcoin network, we can provide a cryptographic proof to Ethereum smart contract that transaction has been executed. Similar thing is already implemented in BTCRelay (https://github.com/ethereum/btcrelay)

We can semi-automate this schema by involving several bitcoin security companies. I'll explain other options in more detail tomorrow.