One of the challenges of the growth of an economy whose fundamental axis are cryptocurrencies, has been the global adoption of those. There is still a way to go to overcome some rational obstacles that may be blocking in some way this widespread adoption by all the actors of an economy, for example the general public, traditional banking, governments, companies, etc. Obstacles such as anonymity or absence of any auditable ownership of cryptocurrencies; considerable compensation and liquidation risks; Impossibility of recovery through judicial processes, and even up to the risk of theft through violation of cybersecurity, are some of the strongest points to overcome. In response to this, the Cybertrust platform was developed, and we will talk about it on this occasion.
CyberTrust is a financial services company that offers a traditional investment tool called Global Crypto Notes (GCN), which consists on a financial product resulting from the securitisation of cryptographic assets. With this, they convert cryptocurrencies into derivative financial assets, and as a result can overcome every formal obstacle of acceptance in the investor, also having full legal backing when dealing with legal transactions.
How is Cybertrust developed?
To make this service feasible in practice, Cybertrust devised the adoption of a utility token, the CABS token, which translates into crypto asset-backed securitization tokens. It should be noted that CyberTrust’s Global Crypto Notes (GCN) are traditional investment instruments. The GCNs will have their qualification conditions of their holders and will be auditable in collaboration with the firm Ernst & Young that will act as auditor, providing greater security and confidence.
CyberTrust will act as a traditional custodian bank, that is, in physical mode, for cryptoactives. This happens like this: All cryptocurrencies are stored properly in a specially conditioned place for that purpose offline, with all property rights duly protected. This place is located in a data silo in Switzerland, with the security guarantee that it entails.
The standards for the prevention of money laundering are covered at all times, so that all the funds that CyberTrust obtains through the placement of Global Crypto Notes are 100% lawful. This is another aspect that will provide security to investors. The CyberTrust Global Crypto Notes were thus designed to facilitate the adoption of cryptoactives by large investors. This positively impacts the acceptance of cryptocurrencies as financial assets, because the availability of a securitized form of cryptocurrencies makes possible the creation of new derivative financial products.
The CABS of Cybertrust
The CABS tokens of CyberTrust, based on the ERC-20 standard, are the only way to convert digital assets into cryptographic values through the platform. Investors accredited with these tokens can securitise the main crypto currencies at a premium of 2.4% for 1 BTC. The holders of CABS Tokens will have the right to convert their BTC to BTC GCN through the platform. The minimum value is a CABS token to securitise 1 BTC. The holders of CABS tokens will also be entitled to convert ETH and BCC / BCH in the corresponding GCNs. The cryptocurrencies with the leases by now being will operate the platform are Bitcoin, Ethereum and Bitcoin Cash.
The ICO of CyberTrust is still to be announced, since the previous stages of private sale and presale, despite its success, had to face some obstacles of acceptance by some financial institutions to still consider that the ICO format presents some legal gaps. This position will obviously be overcome, and the announcement of the ICO is expected, which will surely have an excellent performance.