a tour through ripaex project's whitepaper

[sayedtaha]

The team of RipaEx believes that, despite the recent developments in the world of cryptocurrencies,
it is still expensive to open, manage and build trust on a newly created exchange not only for
the resources need to run a reliable exchange platform but also for the build of the platform itself
and to find the liquidity necessary to run a profitable business in the first 5 years gap.

[sayedtaha]

It is the aim of this project to give you an Open Source, efficient, reliable exchange platform
and to give the needed liquidity1 to your newly created exchange from day one so you can focus on
finding your customers, give platinum support and comply with all the heterogeneous laws in the
industry. As we want that the customer experience will be the sleekest possible, while making it
safer to trade.

[sayedtaha]

The industry of virtual currencies has a high bar to entry from a technical point of view for the
average user and a high bar to entry from an economical point of view for the average entrepreneur
for buying a reliable crypto exchange source code, hiring professional DevOps personnel, hiring
customer support specialists, complying with national and international AML/KYC regulations and
having liquidity from day one of the exchange start of operations. We want to lower this barrier
because to entry this industry because running an exchange is HARD and we want you to focus
on things that matter, not on the caveats that the industry requires because you want to start a
business in this industry and you need the source code to do it.
quoted from wp

[sayedtaha]

For reaching that goal, we chosen to build our Ripa Liquidity Service Provider technology on top
of ARK - a blockchain for consumer adoption - which primary focus is increasing consumer adoption
for blockchain technologies focusing on two critical areas: A Fast Secure Core Technology
and Practical Services for Real People.

[sayedtaha]

ARK ecosystem is still at its early stage of development:
in future implementations there will be the possibility to run smart contracts natively on the ARK
2.0 blockchain, this will permits this blockchain technology to compete with Ethereum from a
technological point of view. RLSP will permits to share the same liquidity-orderbook to each
exchange in the Ripa Network based on single exchange installation privacy rules and preferences
in the admin area of your individual exchange instance.

[sayedtaha]

RIPA EXCHANGE: a FIAT , CRYPTO exchange (a cryptocurrency exchange) based on the
source code of Peatio

[sayedtaha]

RIPA TOKEN - XPX: a cryptographically secure token exchanged on the Ripa blockchain based
on the DPOS protocol

[sayedtaha]

RIPAEX ICO: the name of fixed exchange rate token exchange period composed of both the
phases of PreSale and RIPA TEC
ARK: a platform for consumer adoption of blockchain technologies

[sayedtaha]

RipaEx Partners - RipaEx Governance 9
FIRST EXCHANGE OPENING AND DEVELOPMENT OF TOOLS AND RESOURCES
(WP3)
The second phase takes the results of the first and develops from them a set of tools
and resources which provide concise and comprehensible guidance to market actors
in any Country. With the first instance of Ripa Exchange running we can make first
contact with other economical players in the industry.
PHASE ENDING JUNE 2019.

[sayedtaha]

DISSEMINATION (WP 7/8) AND PROJECT COORDINATION (WP1)
During the full duration of the project, dissemination activities (WP 7/8) are carried
out in which results from the individual work packages are disseminated to relevant target
groups including project partners, RipaEx investors, exchanges managers, banking
partners as well as relevant target groups. This phase covers a wide range of dissemination
techniques, from printed and electronic handbooks to workshops and training
sessions, hackatons, ongoing networks, all having the ultimate goal of defining a standard
for exchange communication among public and private entities. An overarching
work package is concerned with the management of the project from start to finish,
ensuring proper coordination, quality assurance and budgetary control (WP1).

[sayedtaha]

RipaEx Partners - RipaEx Governance
Most of the partners are entrepreneurs in the virtual currency industry, but a research institute and
Financial Organizations are also represented. The partners are:
– Coordinator: RipaEx SCIC
– CoBeneficiaries: Ripa Exchange Ltd

[sayedtaha]

WHAT: crypto assets are an alternative to centralized assets managed by (country-specific)
stock exchanges. Although certain stock exchanges gives the possibility to their users to
verify and manage the assets they own, the verification process is not always transparent, that
is the reason because from 2009 [23] onwards a new types of (community-verifiable) assets
have been implemented to give small, medium and big investors complete transparency in
the managing of their investments assets.

[AirdropNinja]

I don't understand, you could just put all this under one post.

[sayedtaha]

In July 2016 the European Commission adopted proposals for legislation to amend the 4th
Anti-Money Laundering Directive (4AMLD) that will bring virtual currencies exchanged
and wallet providers into the EU’s anti-money laundering framework [15].
In February 2018 the European Commission launched the EU Blockchain Observatory
and Forum [7] to highlight key developments in blockchain technology, promote European
actors and reinforce European engagement with multiple stakeholders involved in blockchain
activities.

[sayedtaha]

WHO: the results indicate that medium tech savvy from 18 to 45 is the average user of virtual
currencies although the corporate finance companies are also starting to put virtual currencies
schemes inside their portfolio especially since the presentation of the Bitcoin futures contract
from CME Group Inc. in the stock exchange of Chicago last 18th of December 2017.

[sayedtaha]

WHERE: local authorities are working with National Governments to make sure local
exchangers in the national territory are complying with national and international AML/KYC
regulations. Venture capitals and Angel Investors are starting to release financing solutions
to start-ups in the Fintech industry all over the world from America to Asia passing through
Europe and some Countries are starting state-owned cryptocurrencies schemes to test the
exchange of goods & services on those (distributed ledger) technologies

[sayedtaha]

HOW: the main problems encountered in opening a FIAT,CRYPTO marketplace is to find
trusted banking partners to comply with the many different AML/KYC rule and procedures
to exchange virtual currencies to FIAT currencies.

[sayedtaha]

HOW: options for finding users for your exchange operations are: targeted marketing
campaigns, innovative features in the industry, fee level based on trading quantities, bonuses
for first registration and trading quantities, affiliate marketing for paying users to bring their
friends to your exchange

[sayedtaha]

Payment Licence: by far the biggest and most arduous task with regards to legitimising
the FIAT,CRYPTO exchange operations is obtaining a PSD Licence [8]. The PSD
license follows Council Directive 2007/64/EC and is applied in each country via its
own national laws. Costs of an PSD license can vary between hundred thousand euro
to one order of magnitude greater depending on the exchange volume.

[sayedtaha]

The turnover of such an enterprise however, because of the high value of the end product,
is likely to be more than e350,000 a year and could be several times higher. A business of
this scale lends itself to the following possible company structures: A simple partnership;
A limited company; A non-profit company or social enterprise; A worker co-operative.
Financial Agencies are potential key actors, but the type of business they can set up will
depend on their legal status which does vary from country to country.