Presenting NokuBit — Bitcoin’s Financial sidechain
The token economy industry has been rising and developing in the last 3 years, first on the Ethereum Blockchain and now on other platforms such as EOS.
Even Bitcoin Blockchain supports tokens, thanks to protocols running on top of it (including Omni and Counterparty). However, due to scalability issues on-chain, lack of flexibility and poor marketing, Bitcoin remained on the sidelines of the Token Economy industry.
Furthermore, the market has progressed around the ICO market and functional tokens; On the other hand, traditional securities such as bonds and derivatives, which have the most relevant role in finance, have been completely left aside.
Nokubit was designed to further enhance the Bitcoin ecosystem by opening its gates to the token economy. Not just to stable coins and utility tokens; but to all of the securities that have remained excluded from the tokenization process until now.
With these objectives in our mind, we are creating a Bitcoin sidechain dedicated to such assets (derivatives, shares, bonds ecc..).
We are aware that it is very difficult to acquire quotas in an industry where network effect has such a relevance; for this reason, Nokubit provides protocol-based incentives directed at those who create tokenized assets (or move their existing assets on it).
In particular, each emitter will be receiving a percentage of the transaction fees collected through its token.
In order to get more shares in the securities market, we will be providing additional incentives. When it comes to securities issued inside the legal frame of a country, if the laws are compliant with Bitcoin’s principles and grant legal status to tokenized securities, that country will earn a percentage of the transaction fees generated by those securities
We are also developing additional tools to support the main financial operations that take place in traditional markets (dividends, splits, etc).
Moreover, Nokubit project is driven by ideological reasons first rather than commercial ones. Our primary goal is to enrich and reinforce the Bitcoin ecosystem.
To prove our vision we want to donate a substantial cut of the profits in support of Bitcoin Core and in the development of the Bitcoin code. In addition, Nokubit will donate part of its earnings to support the adoption of the lightning network through marketing initiatives.
For these reasons, we are confident about receiving a warm support from the Bitcoin community. The alpha version of the software will be released shortly on GitHub to receive reviews and begin with the testing process. In the upcoming weeks, we will release articles that will focus on the various specific aspects of Nokubit clarifying the details and design choices.
For more informations visit our web site at https://nokubit.io/ and take a look at Nokubit one pager https://nokubit.io/wp-content/uploads/2018/10/NOKU_ONEPAGER.pdf
