Token: GBX

Scaling Bitcoin Economy

ICO dates
Start date: 2018-02-10
End date: 2018-03-12

Registrated in: Gibraltar

Platform: Ethereum
Type: EIP-20

PREMIUM ICO Screenshot
Globitex categories
Platform Investment Cryptocurrency Business services Banking
Globitex token sale
KYC passing required Yes | Whitelist No | Restriction for countries USA
Hard cap 10,000,000 EUR
Tokens for sale 500,000,000
Price 1 GBX = 0.10 EUR
Minimal investment 10 EUR
Acceppting ETH, XBT, BCH
Globitex news, social
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Random whitepaper excerpts

Scaling Bitcoin Economy
This document and any other documents published in association with this white paper
relate to a token offering (GBX token) to persons (contributors) in respect of the inten-
ded development and use of the platform by various participants. This document does
not constitute an offer of securities or a promotion, invitation or solicitation for invest-
ment purposes. The terms of the contribution are not intended to be a financial services
offering document or a prospectus. The token offering involves and relates to the devel-
opment and use of experimental platform (software) and technologies that may not
come to fruition or achieve the objectives specified in the white paper. The purchase of
tokens represents a high risk to any contributor. The tokens do not represent equity,
shares, units, royalties or rights to capital, profit or income in the platform or software or
in the entity that issues tokens or any other company or intellectual property associated

Scaling Bitcoin Economy
01 INTRODUCTION ......................................................................................................4
02 GBX TOKEN .............................................................................................................6
Application ______________________________________________________________________6
Token Details ____________________________________________________________________7
Early Participation Discounts During Public Token Sales ________________________________7
Additional Company Success-related Rewards________________________________________7
Token Distribution and Lock up Periods ______________________________________________8
Token Sales _____________________________________________________________________8
AML & Due Diligence _____________________________________________________________8
Privacy _________________________________________________________________________8
Future Provisions ____________________________________...

Scaling Bitcoin Economy
Bitcoin and cryptocurrencies based on the Bitcoin protocol are here to stay. At its core,
the Bitcoin protocol has the right formulae for it to become the leading universally ac-
cepted currency. Bitcoin already functions as a store of value and medium of exchange.
But, in order for it to gain significance as a unit of account in global trade, it needs to
scale both technically and economically.
This paper does not cover Bitcoin’s technical scaling issues. Instead, this paper aims to
deal with the economic scaling challenges that Bitcoin must overcome. Bitcoin has dis-
played impressive growth, starting as an obscure open source project in 2009, and achiev-
ing a multi-billion market capitalisation, it is now receiving mainstream financial media at-
tention. In order for Bitcoin to be even more widely adopted as a currency, and for the Bit-
coin economy to play a leading role as a medium of exchange in global financial markets,
it needs to...

Scaling Bitcoin Economy
In order to facilitate the use of Bitcoin as an industrial scale medium of exchange, we pro-
pose taking the existing Globitex exchange infrastructure and scaling it up into an ex-
change that has global spot and derivatives exchange capabilities, where standardised
instruments in money markets and major commodities are listed with cash settlement
and later physical delivery, and where Bitcoin is used as the underlying currency - a unit of
To realise this goal, Globitex is issuing the GBX utility Token. The Token will be issued as
an EIP-20 (previously known as ERC-20) compliant Ethereum smart contract. [2] The GBX
Token will primarily be used for the settlement of trades on the Globitex exchange, serving
as a commission payment token. The GBX Token will also function within loyalty pro-
grams planned for Globitex clients and contributors, whereby the contributors will be par-
ticipating in the company's overall success. The GBX Token can be acquired during the

Scaling Bitcoin Economy
To realise the business goals set forth in this paper, an Ethereum EIP-20 (previously
known as ERC-20) smart contract protocol based token (the GBX Token) – will be issued
by Globitex Limited, private limited company (the Company) incorporated in Gibraltar
fully owned by AS Globitex Holding (Latvia). The Company will use the proceeds from
the token sale to obtain various rights to use, exploit and licence the existing Globitex IT
infrastructure and trading platform. The Company will also use the token sale proceeds
to further develop the eco-system, infrastructure and trading platform according to the
aims described in this White Paper in order to develop the services that the Token can
be exchanged for.
The GBX token will serve the primary purpose of a means of settlement of trades on the
Globitex exchange, serving as a commission payment token, as well as used within loyalty

Token Details
Scaling Bitcoin Economy
Token name: Globitex Token
Token symbol: GBX
Token lifetime: 10 years (subject to extension)
Token execution environment: Ethereum platform
Token standard: Ethereum EIP-20 (previously known as ERC-20) compliant smart contract
Token decimal units: 8
Token sales currencies: Ether (ETH), Bitcoin (XBT), Bitcoin Cash (BCH)
Token emission standard price: GBX 1 = EUR 0.10
Minimum sales target incl. pre sale: equivalent of EUR 1,000,000
Sales cap: equivalent of EUR 10,000,000
Minimum purchase amount: equivalent of EUR 10
Maximum purchase amount per buyer: equivalent of EUR 3,000,000
Sales start date: before February 2018. To be announced on
Sales end date: To be announced on
Early Participation Discounts During Public Token Sales
10% discount for the first 5,000,000 GBX Tokens sold
5% discount for the next 10,000,000 GBX Tokens sold
Additional Company Success-related Rewards

Scaling Bitcoin Economy
Token Distribution and Lock up Periods
65% of GBX token pool are sold to contributors, whereas
35% are allocated to the Com-
pany for future use,
including: 5% for bounty and referral programs; 10% for business de-
velopment (e.g. team expansion, marketing, security rewards, conferences etc.); and two
tranches of 10% released every consecutive year, following the end of the Token Sale for
further business promotion.
Token Sales
The GBX Token will be sold during the token sale in exchange for Ether (ETH), Bitcoin
(XBT) and Bitcoin cash (BCH). Token distribution will be done after the end of token sales.
AML & Due Diligence
The Globitex platform meets high standards of European anti-money laundering require-
ments in respect of client due diligence, suspicious transaction monitoring and reporting
and the avoidance of crime and terrorist financing. Token holders will therefore be subject
to Globitex exchange KYC to be able to redeem Tokens as ...

Scaling Bitcoin Economy
Globitex is an institutional grade Bitcoin exchange, with a fully functional FIX API con-
nectivity, offering direct market access for algorithmic traders. Launched in the summer
of 2017 as a working prototype, it is being tested in a limited Beta mode and is expected
to begin open public operations by the beginning of the year 2018.
Having built the exchange to meet sophisticated institutional client needs, we now oper-
ate Globitex from the starting point of allowing the exchange of the Bitcoin and Euro trad-
ing pair on a secure and well-established platform. Building Globitex with a view to the fu-
ture, however, requires tackling one of the major issues that Bitcoin faces: liquidity, or the
current lack thereof.
Therefore, one of the first goals for Globitex is to launch other major currency pairs; to ex-
pand the Bitcoin-FX order books, thus covering instant trading, deposits, and withdrawals
in major currencies around the globe. T...

Globitex Roadmap

Q2 2017
BETA Launch of Globitex Bitcoin Exchange
Q4 2017
Globitex ICO Announcement
Q4 2017
Launch of Bitcoin Cash Trading, Deposits and Withdrawals
Q4 2017
Partnership with Electronic Money Institution
Q4 2017
Globitex Token Sale
Q1 2018
Open Public Launch of Globitex Services
Q1 2018
Launch of Additional Cryptocurrency Trading Pairs
Q2 2018
Launch of Additional Fiat Trading Pairs
Q3 2018
OTF (organised trading facility) Licensing
Q4 2018
REPO (Margin) Trading Launch
Q1 2019
BIBOR (bitcoin inter-broker offered rate) Launch
Q1 2019
Listing of Bitcoin Settled Commodity Futures
Q2 2019
Listing of Cryptocurrency Futures, Swaps and Vanilla Options
Q3 2019
Listing of Bitcoin Priced Globitex Commodity Index - GCOM
Q3 2019
Physically Deliverable Precious Metals
Q4 2019
Physically Deliverable Other Commodities
Jon Matonis
Jon Matonis Chairman

Liza Aizupiete
Liza Aizupiete Managing Director

Arvis Ermins
Arvis Ermins Director and Head of Compliance

Maris Kaneps
Maris Kaneps Director and Head of IT

Uldis Teraudkalns
Uldis Teraudkalns Chairman of the Supervisory Board

Viesturs Tamuzs
Viesturs Tamuzs Board Member

Andris Kaneps
Andris Kaneps Board Member

Mark O’Byrne
Advisors Mark O’Byrne Bullion Dealer and Gold Market Analyst

Carlos Blanco
Advisors Carlos Blanco Risk Analytics and Financial Modelling Expert

Pierre Roberge
Advisors Pierre Roberge IT Security Expert

Mikko Ohtamaa
Advisors Mikko Ohtamaa Technology Advisor

Ransu Salovaara
Advisors Ransu Salovaara Token Sales Strategist

Jon Matonis
Jon Matonis
Chairman, Strategic Adviser Bitcoin & Blockchain, Entrepreneur
Founding Director of the Bitcoin Foundation
Founder of Bitcoin Foundation
Founding Director at Bitcoin Foundation. CEO of Hushmail. Startup Team at RSA's VeriSign.
Blockchain advisor
Head of Advisory Board
Viesturs Tamuzs
Viesturs Tamuzs
Board Member
Finance Advisor
Pierre Roberge
Pierre Roberge
IT Security Expert
Mikko Ohtamaa
Mikko Ohtamaa
Technology Advisor
Advisor, CTO Tokenmarket
Technical Advisor
Ransu Salovaara
Ransu Salovaara
Token Sales Strategist
Advisor, CEO Tokenmarket
Senior Adviser and CEO TokenMarket