With Genesis Vision’s Alpha platform having recently been released, Crypto Disrupt has reached out to the team behind the trust management project to shed some light on what they have planned for the future.
The Genesis Vision token (GVT) is currently priced at $25.29 and runs on the Ethereum network.
For our readers, could you tell us in your own words what Genesis Vision is?
We create the platform for the private trust management market, built on blockchain technology and smart contracts. We believe that the implementation of blockchain [technology] will allow trust management market to achieve transparency and efficiency on the technological level. This platform unites exchanges, brokers, traders, and investors into a decentralized, open and fair network, making the financial market even more global. We offer complete transparency with a unique 360-degree value proposition to all parties involved.
I recognize that the Genesis Vision platform works closely with ‘Cryptocurrency Managers.’ Could you explain what their role is in your ecosystem?
As mentioned, our platform unites exchanges, brokers, traders(managers), and investors into a decentralized network. From [a] manager’s point of view, the trade process will not change. The trader (manager) will continue to operate on the exchange or through a convenient broker. Genesis Vision, in turn, represents a common open source of reliable information about the statistics of the network participants’ activities and an absolutely transparent system of investment and profit distribution, built on smart contracts.
The core of [its] technological backbone is powered by Ethereum smart contracts and IPFS (InterPlanetary File System). During the reporting period, the manager trades (on the platform of their choosing) with the funds available at the beginning of the reporting period. The trade history is downloaded from the broker and recorded in IPFS. Investors can buy the manager’s coins on the primary market for GVT. In this case, the transaction is recorded in the manager’s smart contract and will automatically be issued its share of profit at the end of the reporting period. Investors can freely transfer and sell their coins on the internal exchange.
A Manager also issues his own tokens, which act as a share of a public company on a traditional exchange — their value is dependent on a [manager’s] performance. The tokens are traded freely between the participants on a Genesis Vision exchange. In order to acquire a manager token, investors will have to buy GVT. Then GVTs are exchanged for each manager token. If demand for investing in the platform grows, GVTs also grow.
What is the main purpose of the Genesis Vision token (GVT)?
GVT will be used for all investment operations, profit distributions, and managers’ token trading on the internal exchange.