São Paulo Digital Business Exchange (BOMESP) is an exchange platform for small medium and large companies which allow these companies to raise capital by issuing tokens in their names on the platform. These tokens are exchanged for Niobiums. This is an effective alternative for small investors owing to its benefits.
Among many benefits that it pertains, the major benefit is the drastic reduction in transaction costs. This is done because there are no intermediaries or third party involvement. Transactions take place in anonymity and no bank or financial institution has to be paid high transaction costs. Also, the speed of transactions is super-fast. Interbank transactions can take days to be cleared and to arrive at a final covenant especially when outside of business hours. Transactions within the platform reduce the time for transactions to minutes and are processed 24 hours per day and seven days per week.
All the investors on the BOMESP are offered the highest level of safety as the assets of the listed companies are valued by the grant before they are launched. This safeguards investors from any possible frauds on the platform. Since information is decentralized, malicious cyber activities are also resisted.
This platform is optimized by institutional and personal negotiations focusing towards consumers. The built of corporate resources is strong which further build the trust in the system. It can produce around 1 million transactions per second with the potential to handle more than 20 types of advanced orders including Iceberg, Post Only, OCO and tracing orders. It also facilitates routing of advanced orders, management of the life cycle of the order and market risk configurations and all of the safety audits are done by independent third parties without any cronyism or bias. Also, it is compatible with current and next-generation platforms and services and can be flexibly integrated with the services of the banks such as payments, authentication, KYC/AML, market data, etc.
BOMESP is appropriate for all types of digital assets that can be transacted with Bitcoin, Ethereum, Ripple, and Niobium at par. Owing to its use, it has already coined 2 million Niobiums (NCO) in its ICO, which is equivalent to around $ 2.5 million and they expect it to reach to $50 million by final funding. The fuelling currency of BOMESP is Niobium and it has been authorized by Securities and Exchange Regulatory of Brazil. This explains its wide acceptance.
The future of Blockchain is promising and so is the future of projects built upon this. However, the survival of these projects depend upon the utility they give to their consumers and in case of BOMESP, it appears to be a great contribution to the way companies raise their funds in the market. Establishing itself as first virtual currency stock exchange, it is appearing as a substitute to the conventional stock markets with better security, information, and transparency along with a build-up of trust by various stakeholders of society including banks, financial institutions and policymakers.