GBX ICO

IMPORTANT NOTICE
This document and any other documents published in association with this whitepaper relate to a token offering
of Rock Token to persons (purchasers) and in respect of the intended development and use of GBX and the
GBX ecosystem by various participants.
No offer of regulated products:
this document does not constitute an offer or solicitation of securities or
any other regulated product, nor a promotion, invitation or solicitation for investment purposes. The terms of the
purchase are not intended to be a financial service offering document or a prospectus. The Rock Token
involves and relates to the development and use of experimental platforms (software) and technologies that
may not come to fruition or achieve the objectives specified in this whitepaper. The Rock Tokens do not
represent equity, shares, units, royalties or rights to capital, profit, returns or income in the platform or software
or in GBX Limited or any other company or intellectual property associated with the platform ...

Table of Contents
Token Sale Summary
Introduction
Part A
–
Industry and Project Overview
1
Industry overview
2
Gibraltar
–
DLT Regulatory Framework
3
GBX, the “Crypto Harbour”
4
GSX, a stock exchange for tokenised securities
5
GBX Ecosystem, the financial services and fintech ecosystem
6
The Rock Token
7
The GBX vision
Part B
–
The GBX Market
8
Token sale platform for utility tokens
9
Digital asset exchange
Part C
–
The GSX Tokenised Securities Exchange
10
Overview
11
About GSX
12
About the GSX Tokenised Securities Exchange
Part D
–
The GBX Ecosystem
13
GBX Ecosystem
14
Gibraltar fintech ecosystem
Part E
–
Development Approach
15
Phased development approach
16
Project budget
Part F
– <...

26
Use of proceeds
35
Part H
–
Corporate Governance, GBX Team and Advisors
36
27
Corporate governance
36
28
Technology team leaders
38
29
Advisory Team
39
Conclusion
42
Key Facts Schedule
43
i
About GBX Limited
43
ii
About the Project
44
iii
About the Rock Token
45
iv
About the Token Sale
45
Appendix
–
Proposed GBX fee schedule
47
GBX and Rock Token Sale Whitepaper
© GBX Limited
Page 4
...

Token Sale Summary
The following is provided for summary purposes only and does not form part of any agreement to
purchase Rock Tokens.
Seller
GBX Limited
(“
GBX
”)
Private company limited by shares
Incorporated and registered in Gibraltar
Company number: 116223
Registered office: 6A Queensway, GX11 1AA, Gibraltar
Website
www.gbx.gi
(“
Website
”
)
Token name
Rock Token
Ticker
RKT
Project name
“
Gibraltar Blockchain Exchange” or “GBX”
Project summary
The Project comprises two key components:
(a) establishing GBX, a marketplace for utility tokens and digital assets
operating within Gibraltar’s regulatory framework
; and
(b) creating a financial services and fintech ecosystem with multiple products
and services.
GBX is launching an initial token sale for its utility token, the Rock Token (
“
RKT
”
),
which...

Introduction
GBX Limited, a subsidiary of GSX Limited -
the Gibraltar Stock Exchange (“
GSX
”),
is launching an initial
token sale
(“
Token Sale
”)
for
the Gibraltar Blockchain Exchange (“
GBX
”)
utility token, the Rock Token
(
“
RKT
”
).
GBX
–
the first of its kind
The GBX aims to be
the world’s first
licensed and regulated token sale platform and digital asset
exchange, operated by a European Union (
“
EU
”
) regulated stock exchange.
Using a sponsor and rules-based system, the GBX will apply to be licensed by the Gibraltar Financial
Services Commission (
“
GFSC
”
) under the Financial Services (Distributed Ledger Technology Providers)
Regulations 2017 (
“
DLT Regulations
”
), which came into operation on 1 January 2018 in Gibraltar.
More specifical...

About this document
This whitepaper details the GBX strategy, our vision for the broader ecosystem, key aspects of the
issuance of the RKT and how RKT is expected to be applied throughout GBX.
The “Key
Facts Schedule
” also provides a summary of the key
information about GBX Limited, GBX, RKT
and the Token Sale. Any sale of Rock Tokens is subject to separate terms and is not available in all
jurisdictions and to all purchasers.
All projects carry variables and contingencies. For the avoidance of doubt, the licensing of GBX and certain other
initiatives as proposed in this whitepaper are subject to regulatory approval.
You must read all relevant documents and obtain the advice you need before making
any decision to purchase Rock Tokens. RKT is not for everyone.
GBX and Rock Token Sale Whitepaper
© GBX Limited
Page 7
...

Part A – Industry and Project Overview
1 Industry overview
World Economic Forum
–
June 2017:
“Like the first generation of the internet, this second generation promises to disrupt business
models and transform industries. Blockchain (also called distributed ledger), the technology
enabling cryptocurrencies like Bitcoin and Ethereum, is pulling us into a new era of openness,
decentralization and global inclusion.”
1
We are fortunate to live in a disruptive time. Since the invention of Bitcoin in 2008, the ideals of
decentralisation, public consensus, and creating new trust models between parties conducting
transactions has been embraced. Principles of consensus, efficiency and mutual trust are
treasured by the community, as demonstrated by the rapid adoption of blockchain technology,
cryptocurrencies and other digital assets by both businesses and individuals in numerous
jurisdictions globally.
Token sales have captured imaginations, giving rise to a wide range ...

On 9 May 2017 the GFSC, in conjunction with HM Government of Gibraltar, published a
consultation paper entitled
“
Proposals for a DLT Regulatory Framework
”
.
2
The paper included
the
“
three pillars
”
of the desired regulatory outcomes and the
“
nine DLT principles
”
.
The consultation paper explored an approach to:
(a) provide regulatory certainty for DLT firms based in and operating from Gibraltar;
(b) provide a regulatory framework that recognises DLT is still a nascent technology that is
rapidly-evolving;
(c) provide a responsive regulatory framework;
(d) encourage growth in technology and fintech skills in the jurisdiction;
(e) provide sufficient flexibility to enable the effective regulation of novel business activities,
products, processes, and business models;
(f)
enhance consumer confidence in dealing with properly regulated firms using novel
technology; and
(g)...