Bitspark Switching to BitShares for Remittances

Bitspark Switching to BitShares for Remittances

FOR IMMEDIATE RELEASE For more information contact:

Alex Fredericks
Digital Launch LLC
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Phone: (347) 687-1712

August 9,2017 – Bitspark announced that they will be switching to the BitShares Blockchain from Bitcoin because it is better suited for the company’s business. Bitspark specializes in remittance payments and sees clear advantages for its services by using BitShares. The company cited four specific areas where BitShares is more ideally suited for remittances.

Pegged Cryptocurrency Creation – Payment providers are forced to go through “gatekeepers” in order to access the 180+ world currencies. BitShares enables anyone to create a pegged asset which has its value pegged to assets like the USD or CNY, and trade it on their decentralized exchange. “The BitShares Blockchain can solve the problem of access as there is no need to hedge USD and rely on a single gatekeeper.”
Speed & Cost – “The BitShares Blockchain itself is built to scale to 100,000 transactions per second with fees as low as fractions of cents and confirmation times sub 3 seconds.” BitShares is truly an industrial grade blockchain scalable to meet the needs of businesses.
Liquidity – Liquidity is required to be a market maker, with BitShares, “anyone can issue the fiat pegged cryptocurrency so long as they have appropriate BTS to lock up in a smart contract as collateral. This is important as it means anyone around the world can participate as a market maker”
Decentralized Exchange (DEX) – Carrying out business on a decentralized exchange significantly reduces risk by removing the reliance on a centralized third party. When a centralized exchange is compromised, millions of dollars and thousands of users are impacted all at once. In a decentralized system, any attack or failure impacts only a single user and their funds.

The new payment method will be rolled out slowly for specific currency pairs so that Bitspark’s remittance users will have the access to all of the world’s 180+ currencies in 12 months. Bitspark has assured users that existing Bitcoin deposits and payment methods will persist for a time while the transition is carried out.

“Our focus is on the transition to the BitShares Blockchain for the rest of 2017 and will be fully operating in time for Bitspark’s most recent project with the United Nations”

Follow the link below to learn more about the transition to BitShares and the benefits of the platform.


BitShares is a decentralized exchange platform using real-time, industrial grade blockchain technology supported by next generation entrepreneurs, investors, and developers with a common interest in finding free market solutions by leveraging the power of globally decentralized consensus and decision making.


Cryptonomex Inc. is an independent blockchain development company founded by the core developers of the BitShares blockchain. The mission of Cryptonomex is to facilitate the growth and adoption of industrial blockchain technology.

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