We will soon announce an Initial Coin Offering (ICO), to raise money to build a needed piece of glue between the world of online software and all the blockchains now proliferating. This is a sneak preview ...
The large crypto-exchanges all buy and sell currencies from many blockchains. Internally, those exchanges have already built what we propose to build for all. A company called ShapeShift provides an exchange via API that they would like to integrate into every system. Since they are an exchange, they make money on fees and spread.
We have spent months without funding, trying to build such a system using volunteer programmers, to launch our CryptX index token, but we realized it’s a lot of work to build this foundation.
So we decided to build it for everyone and give it away. It will be an open-source system everyone can use and integrate. This should lead to more competitive prices and no vendor lock-in.
We understand that this isn’t decentralized, but a) we don’t hold client’s assets, and b) we believe this is a necessary bridge to all the thousands of software vendors who don’t want to have to build their own in-house version of this. If we can bring all cryptocurrencies to online software, that will increase the demand for and value of all cryptocurrencies - possibly by a huge factor. If our system becomes a necessary piece of plumbing for the web of value, the price of our token should appreciate accordingly.
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