SKYBIT (SKYBIT) IEO Price, Market Cap, Ratings & Reviews | Coinpare
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Cryptocurrencies: 2,951 Market Cap: $558,610,534,171 24h Vol: $136,967,465,574 BTC: 62.32% ETH: 11.64% USDT: 3.50% ETH Gas: 55 gwei
SKYBIT
Exchange

SKYBIT

Exchange

SKYBIT applies blockchain technology to provide a modern financial bridge between Myanmar and the rest of the world. Our main service is a cryptoasset exchange that allows traders from both Myanmar and around the world to convert between various cryptoassets as well as Myanmar Kyat.

Sale ended 22 November 2019
21 Nov 2019 - 22 Nov 2019
IEO Details
Hardcap:
5,000,000 USD
Softcap:
100,000 USD
Token Price:
0.01 USD
Total Supply:
1,000,000,000
IEO Supply:
300,000,000 (30%)
Accepting:
PROB, USDT, BTC, ETH, XRP
Whitelist/KYC:
KYC
Country:
Singapore
Token Details
Token Platform:
Ethereum
Token Holders:
32
Token Transfers:
70
Token Explorers:
Coin Details
Ticker:
SKYBIT
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PROBLEM ADDRESSED

Today, it is difficult and time-consuming to transfer monetary value into and out of Myanmar. The country is hardly listed in internet banking. International transactions to Myanmar usually take up to five days to settle. Also, not everyone in Myanmar can be a recipient of credit-card initiated payments. When it comes to international money transfer, people in Myanmar often use informal hundi networks, which has been prone to loss of funds as sometimes people working in the networks simply disappear with the money. Such disadvantages and restrictions have limited the country’s potential in effective e-commerce and the share of global net wealth inside Myanmar and inhibited progress and development of the country.

To date, Myanmar people remain amongst the poorest in the world. Myanmar holds less than 1% share of total global wealth (see Figure 1) (Credit Suisse, 2018). The country’s average net wealth per adult is 739 USD (see Figure 2) (Credit Suisse, 2018). 82.6% of the workforce lives on less than 3.55 PPP USD per day, ranked 148 out of 189 countries (United Nations Development Programme [UNDP], 2018). Myanmar also has many humanitarian problems and ranks poorly in many Human Development indicators, lowest in Southeast Asia and amongst many Sub-Saharan African nations (UNDP, 2018). In 2015, Myanmar received only 0.77 percent (1.17B) of total world official aid (153B) (The World Bank [WB], n.d.).

VISION

Venture capital funding for Myanmar startups is small and difficult to attract. The Yangon Stock Exchange that opened in December 2015 has only 5 companies listed as of July 2019. Total traded volume in 2018 amounted to 7.5M USD, with only Myanmar citizens being allowed to trade (Yangon Stock Exchange [YSX], 2019).

SKYBIT allows more of the wealth and opportunities that exist outside Myanmar to far more easily enter the country through the application of blockchain technology. We address this problem by using blockchain technology to minimize the time of international transaction to be settled within minutes through a reliable platform that is easy to use by anyone, easing the flow of monetary value into Myanmar while opening up many new opportunities for the country and its people.

All users can benefit from the SKYBIT platform in many ways. Individuals, companies, and aid organizations can offer goods, services, and campaign for donations to the entire world on the internet. Their customers and donors make payments using a cryptoasset such as bitcoin.

Our long-term goal is not only to facilitate large-scale market-driven societal improvement in Myanmar, but across Southeast Asia, which has many big problems that still need to be solved (excluding Singapore, which has most of the privileged 1% of Southeast Asia).

DIGITAL ASSET CONVERSION PLATFORM OR “CRYPTOASSET EXCHANGE”

The SKYBIT Digital Asset Conversion Platform allows users to convert between different cryptoassets and with Myanmar Kyat (MMK) currency.

Popular cryptoassets will be listed, such as bitcoin, ether, and other Ethereum-based tokens such as 0x, Aternity, Basic Attention Token, Bytom, Golem, Holo, Maker, OmiseGO, Pundi X, and Zilliqa. Stablecoins, including Libra, would also be added if we are able to obtain (or use a partner’s) relevant license for dealing with foreign fiat currencies.

The platform supports unrestricted and direction-agnostic coupling of pairs between different listed cryptoassets and Myanmar Kyat. E.g. with a list of 30 instruments, 435 pairs would be available for trading (using combination formula n!/r!(n - r)! where n is the number of listed instruments and r is 2). Direction- agnostic means e.g. ETH/BTC and BTC/ETH is the same market of orders; rates shown would simply be the inverse of the other, so traders can choose which direction they prefer. Such possibility of free direction-agnostic pairings is an advantage over other exchanges that have a limited list of fixed pairings.

The platform offers an intuitive interface with clear buy or sell headings to so that users will easily understand what is going on.

For greater convenience, the interface offers a “move” button that, when clicked, will automatically modify a user’s pending order to have the most competitive rate, and a “Trade” button that converts a pending order to an at-market order in case a user no longer wishes to wait for their order to be filled.

The platform would also be used to liquidate the cryptoassets received from the SKYBIT Payment Processor.

The platform is currently being actively developed and the latest functional version is currently hosted for testing and demonstration purposes at https://tradingplatform0.herokuapp.com.



5% Bonus for PROB
4% Bonus for USDT, BTC, ETH, XRP

To The Moon 🚀🌕
ROI x1

Price $0.01
Market Cap $3,000,000
Fully Diluted Market Cap $10,000,000
Philip Lim
Founder & CEO
Involved in 1 project
Bruce Marshall
Co-Founder & CGO
Involved in 1 project
Peter Novak
Chief Technology Officer
Involved in 1 project
Harry Khoo
Chief Operations Officer
Involved in 1 project
Pyae Thu Tun
Multimedia Designer
Involved in 1 project
Chester Gan
Technical Developer
Involved in 1 project
Luke Davies
Finance and Accounting Officer
Involved in 1 project
Aung Lin Htet
Marketing Associate
Involved in 1 project
Aung Khaing Khant
Content Writer
Involved in 1 project
Sein Lae Lae Hnin
Front End Developer
Involved in 1 project
Advisors
Hsin-Tung Lu
Involved in 1 project
Tim Scheffmann
Involved in 1 project
Myinmo Zaw
Involved in 1 project
Aung Zaw Myint
Involved in 1 project
Win Win Tint
Involved in 1 project
Zaw Min Latt
Involved in 1 project
Win Latt
Involved in 1 project
Myo Kyaw Thu
Involved in 1 project
Michael Maung Tint Khine
Involved in 1 project
  • Q4 2019

    Token sales.

     Engagement with Myanmar authorities.

  • Q1 2020

    Development and testing of trading platform of new exchange completed. Trading platform of new exchange Go-live. Set up of customer support completed.

    Head office leased. Recruit staff; Commence market analysis.

    Develop education and training programs; Commence promotional events to educate customers; Commence training workshops and Sales and marketing activities.

  • Q1 2021

    Commence market analysis; Develop education and training programs; Commence promotional events to educate customers.

    Open new representative office Commence training workshops to use SKYBIT's services. Sales and marketing activities commenced.

  • Q4 2023

    Expansion across Southeast Asia, Asia Pacific, Europe, Americas, Middle East, and Africa

Loading...
 

Exchange

SKYBIT

SKYBIT applies blockchain technology to provide a modern financial bridge between Myanmar and the rest of the world. Our main service is a cryptoasset exchange that allows traders from both Myanmar and around the world to convert between various cryptoassets as well as Myanmar Kyat.

Sale ended 22 November 2019
21 Nov 2019 - 22 Nov 2019
IEO Details
Hardcap:
5,000,000 USD
Softcap:
100,000 USD
Token Price:
0.01 USD
Total Supply:
1,000,000,000
IEO Supply:
300,000,000 (30%)
Accepting:
PROB, USDT, BTC, ETH, XRP
Whitelist/KYC:
KYC
Country:
Singapore
Token Details
Token Platform:
Ethereum
Token Holders:
32
Token Transfers:
70
Token Explorers:
Coin Details
Ticker:
SKYBIT

PROBLEM ADDRESSED

Today, it is difficult and time-consuming to transfer monetary value into and out of Myanmar. The country is hardly listed in internet banking. International transactions to Myanmar usually take up to five days to settle. Also, not everyone in Myanmar can be a recipient of credit-card initiated payments. When it comes to international money transfer, people in Myanmar often use informal hundi networks, which has been prone to loss of funds as sometimes people working in the networks simply disappear with the money. Such disadvantages and restrictions have limited the country’s potential in effective e-commerce and the share of global net wealth inside Myanmar and inhibited progress and development of the country.

To date, Myanmar people remain amongst the poorest in the world. Myanmar holds less than 1% share of total global wealth (see Figure 1) (Credit Suisse, 2018). The country’s average net wealth per adult is 739 USD (see Figure 2) (Credit Suisse, 2018). 82.6% of the workforce lives on less than 3.55 PPP USD per day, ranked 148 out of 189 countries (United Nations Development Programme [UNDP], 2018). Myanmar also has many humanitarian problems and ranks poorly in many Human Development indicators, lowest in Southeast Asia and amongst many Sub-Saharan African nations (UNDP, 2018). In 2015, Myanmar received only 0.77 percent (1.17B) of total world official aid (153B) (The World Bank [WB], n.d.).

VISION

Venture capital funding for Myanmar startups is small and difficult to attract. The Yangon Stock Exchange that opened in December 2015 has only 5 companies listed as of July 2019. Total traded volume in 2018 amounted to 7.5M USD, with only Myanmar citizens being allowed to trade (Yangon Stock Exchange [YSX], 2019).

SKYBIT allows more of the wealth and opportunities that exist outside Myanmar to far more easily enter the country through the application of blockchain technology. We address this problem by using blockchain technology to minimize the time of international transaction to be settled within minutes through a reliable platform that is easy to use by anyone, easing the flow of monetary value into Myanmar while opening up many new opportunities for the country and its people.

All users can benefit from the SKYBIT platform in many ways. Individuals, companies, and aid organizations can offer goods, services, and campaign for donations to the entire world on the internet. Their customers and donors make payments using a cryptoasset such as bitcoin.

Our long-term goal is not only to facilitate large-scale market-driven societal improvement in Myanmar, but across Southeast Asia, which has many big problems that still need to be solved (excluding Singapore, which has most of the privileged 1% of Southeast Asia).

DIGITAL ASSET CONVERSION PLATFORM OR “CRYPTOASSET EXCHANGE”

The SKYBIT Digital Asset Conversion Platform allows users to convert between different cryptoassets and with Myanmar Kyat (MMK) currency.

Popular cryptoassets will be listed, such as bitcoin, ether, and other Ethereum-based tokens such as 0x, Aternity, Basic Attention Token, Bytom, Golem, Holo, Maker, OmiseGO, Pundi X, and Zilliqa. Stablecoins, including Libra, would also be added if we are able to obtain (or use a partner’s) relevant license for dealing with foreign fiat currencies.

The platform supports unrestricted and direction-agnostic coupling of pairs between different listed cryptoassets and Myanmar Kyat. E.g. with a list of 30 instruments, 435 pairs would be available for trading (using combination formula n!/r!(n - r)! where n is the number of listed instruments and r is 2). Direction- agnostic means e.g. ETH/BTC and BTC/ETH is the same market of orders; rates shown would simply be the inverse of the other, so traders can choose which direction they prefer. Such possibility of free direction-agnostic pairings is an advantage over other exchanges that have a limited list of fixed pairings.

The platform offers an intuitive interface with clear buy or sell headings to so that users will easily understand what is going on.

For greater convenience, the interface offers a “move” button that, when clicked, will automatically modify a user’s pending order to have the most competitive rate, and a “Trade” button that converts a pending order to an at-market order in case a user no longer wishes to wait for their order to be filled.

The platform would also be used to liquidate the cryptoassets received from the SKYBIT Payment Processor.

The platform is currently being actively developed and the latest functional version is currently hosted for testing and demonstration purposes at https://tradingplatform0.herokuapp.com.



5% Bonus for PROB
4% Bonus for USDT, BTC, ETH, XRP

To The Moon 🚀🌕
ROI x1

Price $0.01
Market Cap $3,000,000
Fully Diluted Market Cap $10,000,000
Share This Page
Philip Lim
Founder & CEO
Involved in 1 project
Bruce Marshall
Co-Founder & CGO
Involved in 1 project
Peter Novak
Chief Technology Officer
Involved in 1 project
Harry Khoo
Chief Operations Officer
Involved in 1 project
Pyae Thu Tun
Multimedia Designer
Involved in 1 project
Chester Gan
Technical Developer
Involved in 1 project
Luke Davies
Finance and Accounting Officer
Involved in 1 project
Aung Lin Htet
Marketing Associate
Involved in 1 project
Aung Khaing Khant
Content Writer
Involved in 1 project
Sein Lae Lae Hnin
Front End Developer
Involved in 1 project
Advisors
Hsin-Tung Lu
Involved in 1 project
Tim Scheffmann
Involved in 1 project
Myinmo Zaw
Involved in 1 project
Aung Zaw Myint
Involved in 1 project
Win Win Tint
Involved in 1 project
Zaw Min Latt
Involved in 1 project
Win Latt
Involved in 1 project
Myo Kyaw Thu
Involved in 1 project
Michael Maung Tint Khine
Involved in 1 project
  • Q4 2019

    Token sales.

     Engagement with Myanmar authorities.

  • Q1 2020

    Development and testing of trading platform of new exchange completed. Trading platform of new exchange Go-live. Set up of customer support completed.

    Head office leased. Recruit staff; Commence market analysis.

    Develop education and training programs; Commence promotional events to educate customers; Commence training workshops and Sales and marketing activities.

  • Q1 2021

    Commence market analysis; Develop education and training programs; Commence promotional events to educate customers.

    Open new representative office Commence training workshops to use SKYBIT's services. Sales and marketing activities commenced.

  • Q4 2023

    Expansion across Southeast Asia, Asia Pacific, Europe, Americas, Middle East, and Africa

Loading...

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