CCEDK pivots to become crowdfunding and promotion hub for start-ups
Friday 01 July 2016
Backed by the Decentralised Conglomerate, the former exchange will use its expertise to help entrepreneurs raise funds and market their ideas.
It has been a brutal week, politically and economically. The UK’s decision to exit the European Union at their referendum on 23 June has prompted global shockwaves. Stock markets have been volatile, Sterling crashed against the dollar and Euro, and we are faced with a period of prolonged uncertainty as to where this will all end up.
Amid the turmoil there are always opportunities. The referendum wasn’t really about the EU, and the causes for which it was the most visible symptom apply far beyond the UK. It was about widespread dissatisfaction: about the state of government in the 21st century, about representation and inequality, about the engagement of the gatekeepers and power-holders with the people they are supposed to serve. And this sentiment, which can be seen across Europe and America, is critical to the emergence of a new suite of technologies and the mentality that is driving their adoption.
The way entrepreneurs are accessing funds for their new ventures is changing
Cryptocurrency or digital money not only doesn’t understand the concept of borders and nationalities: it doesn’t know they exist. These platforms are truly international. It’s as easy and fast to send money to Europe or Australia as it is to send it to your friend next door. The vision encapsulated by such a technology informs its use, and it is common to find dispersed groups, located around the world, using the blockchain or distributed ledger to raise money, issue assets and pay their shareholders, amongst many other things. This is the landscape into which CCEDK steps.
From exchange to business hub
Starting life two years ago as a crypto exchange, CCEDK soon realised that it could better serve the community by helping new initiatives get off the ground. Central to the vision is the idea that blockchain technology has the potential to revolutionise the way businesses gain their first toe-hold in the market. ‘Our vision is to be the enterprise that best understands, and satisfies the product, service and funding needs of start-ups – globally,’ says Ronny Boesing, CEO of CCEDK.
This will be achieved through a variety of means. CCEDK already acts as a gateway to OpenLedger, the fintech platform built on Bitshares 2.0. This makes it the ideal way for investors to move value into and out of the blockchain from the real world, and for entrepreneurs to access money for crowdfunding. CCEDK will also act as escrow, releasing funds only when agreed criteria are met.
CCEDK will ultimately seek to promote particularly promising start-ups in countries around the world through local competitions. ‘We will then help bring the projects to life and offer them to investors through a crowdfunding process, giving them a stake in the future company and revenues,’ explains Boesing. CCEDK will head up this stage and cover the costs involved, in return for a percentage of the funds raised. However, CCEDK will offer far more than this.
The Decentralised Conglomerate
As well as being a fiat gateway, CCEDK is home to the Decentralised Conglomerate, a series of linked assets and services, hosted on OpenLedger – a peer-to-peer cryptocurrency platform built on top of the MIT-licensed Graphene technology of BitShares 2.0 and designed for high-speed transactions, allowing users to trade crypto-assets in near-real time, securely and with ultra-low fees. These services will be placed at the disposal of start-ups and include BitTeaser, an advertising network similar to Google’s AdSense that pays out in crypto, and Obits, which offers a network of writers and bloggers to give entrepreneurs exposure around the world. The financial asset ICOO will both invest in promising start-ups and profit from their success. Start-ups can choose to access as many or as few of these services as they want, as well as the crowdfunding and escrow elements offered by CCEDK.
‘We hope that by doing this we will be able to help fund innovative new projects that might otherwise struggle to receive funding. Who knows, perhaps we will one day play a part in launching the next Skype or Apple, and give inventors and developers a chance to make their dreams a reality,’ concludes Boesing.
CCEDK opens for business with a soft launch on 1 July 2016, going fully live on Independence Day on 4 July.
This article was sponsored by Ronny Boesing and CCEDK.
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