There are millions of businesses worldwide. Each of them is different in its own way. Making profits is a good goal. However, changing the world and making an impact should be the ultimate goal. This is well-known by all the people connected with Abacas, a company dedicated to changing asset exchange, for the better.
What is Abacas?
Before I share our story and mission, it would make sense to explain what we do. Abacas is a hybrid decentralized exchange (DEX) that allows you to trade, exchange or transfer Any Asset Anywhere Anytime. It reduces risk, improves liquidity and mitigates cost. With Abacas, for example, you will be able to exchange your gold for UK stocks in just one transaction.
The story of Abacas
The business model for the AbacasXchange was evolutionary. The core concepts stemmed from Mark’s USPTO 7194481, granted in 2007 and his experiences while Global Head of FX Product Development at RBC Dexia [now RBC] Investor Services, a global custodian bank. The bank was in the midst of the credit crisis of 2008/9 and was impacted by the collapse of Lehman Brothers. The confusion regarding the ownership of assets was clearly a problem during the GFC.
Over the years, Mark’s vision of the future had been evolving, growing with each technological development and developing as new risks were exposed within our financial system. He identified a number of problems:
- fractionality
- liquidity
- right of ownership
- proof of existence
- the challenge of building a DEX
Finding a solution to all the challenges of asset exchange is not an easy task. The appearance of Bitcoin was a step forward as it solved the problems of fractionality and immutable ownership. However, there were still many missing pieces to the puzzle and Mark was on a mission to find them.
At that point, he approached Vince Small to join Abacas. Vince had successfully sold his software development company FSS and was eager to take on a new challenge. With their combined knowledge, Mark and Vince began developing a model that is both universal and secure. Like it often happens in the startup world, the founders had to work hard, pivot and live without salaries in order to create Abacas. Timing was on their side as the appearance of Ethereum and ERC20 tokens enabled them to build the current version of Abacas. Despite all the hardships, Mark and Vince managed to create a model that solves or mitigates all those problems.
After 3 years of hard work, it is time now for the next stage and that is the Initial Coin Offering (ICO). Register for it by clicking the following link:
https://abacasexchange.com/register/
Vision
We live in a world of vast technological development, each technology built on top of the other. Many industries have been disrupted, some several times. One industry however has remained almost untouched… the Banking & Financial Industry.
Blockchain technology promises to change that. Day after day, a new ICO appears, claiming that it will disrupt its respective industry. So how then is Abacas different? What sets Abacas apart from all other companies?
It was built for the investor by investors and is the world’s first digital asset-for-asset exchange.
We envision a world where you can pay for any purchase using any asset in your wallet. Imagine making your next purchase with Gold, GOOG stock or EUR — whatever your vendor accepts and whatever you wish to use. Imagine a world with less friction and lower costs. Imagine being in control and having infinite investment opportunities.
It may sound crazy for some but it is possible and within our reach. You can be a part of it, too. Visit our website to learn more: https://abacasexchange.com