Today, several exchanges ! 10 Exchanges Now Proving Solvency on the BitShares Blockchain!

Bitcoin.com (BC): You report that OpenLedger (CCEDK), BlockTrades, MetaExchange, Yunbi, BTC38, and BANX — among others planning the move — are currently “proving their solvency” via the BitShares blockchain. What does this mean?

Ken Code (KC): All exchanges in the BitShares Exchange Network keep their order books on the same BitShares blockchain, where everyone can see them. That means that I don’t actually give control of my assets to the exchanges and am therefore not exposed to exchange counterparty risk.
KC: Each member exchange competes by providing a unique front end interface (web wallet), user training and support, and specialized products and services. But they all use the same back-end trading engine – the one inside the BitShares blockchain. (The same one any individual can use if they download their own BitShares wallet and bypass all the exchanges.)

“MY ASSETS REMAIN IN MY WALLET WHILE I’M TRADING LIKE I WAS ON THEIR EXCHANGE — BECAUSE THE EXCHANGE IS ACTUALLY INSIDE THE BLOCKCHAIN, ACCESSED VIA MY WALLET.”
“BITSHARES LETS EACH EXCHANGE ‘KEEP’ THE CUSTOMERS THEY SIGN UP BY ROUTING THE FEES FROM THOSE CUSTOMERS TO THAT EXCHANGE. THE CUSTOMERS GAIN ACCESS TO DEEPER MARKETS AND MORE LIQUIDITY BY PARTICIPATING IN A SHARED MARKETPLACE WITH CUSTOMERS FROM ALL THE OTHER EXCHANGES.”
Today we have a very interesting interview with the author of Bitshares 101, Max Wright. The release of Bitshares 101 happened last Thursday during which Bitshares was outlined. Bitshares is a community of independent Distributed Autonomous Company developers known as DAC. DAC is a free market company whose shares can be transferred from person to person over the internet without the use of a third party. Without further ado, the interview:

In your words, what is bitshares and what innovation does it bring to the table?
There are really too many to list. Trying to condense just a few into a single book was a challenge. Eventually I ran with, “What bitcoin is to money, Bitshares is to everything else.” It is the blueprint for a move to a more peaceful world. That may sour like a bunch of hooey, but its true. The blockchain allows for a decentralized authority. Its kind of what democracy wants to be. In a democracy, supposedly the power is with the people and they elect individuals to create and enforce rules. The reality is that not all rules are created or enforced equally. With block chain technology rules are created and enforced equally. The degree to which we use the blockchain, is the degree to which we no longer need rulers. It is the degree to which we eliminate corruption. Bitcoin is fantastic and achieving exactly that in the very important world of money. But what about the rest of our lives? That is where BitShares steps in. The technological advancements made by BitShares allows us to secure a significantly greater amount of our lives and our relationships on the blockchain. For example, within the next year or two I think you will find the largest bitcoin exchanges will be built on the bitshares technology. This will allow cryptographically provable and secure exchanges. We will soon see blockchain voting for things like HOA meetings, or shareholder meetings for companies. We will see artists of all kinds from singers to authors crowd funding or their art through bitshares technology. BitShares will make our lives significantly more efficient and secure.
Why did you feel a need to create a book regarding bitshares?

I co-authored one of the first books ever written on bitcoin in 2013 because I thought the future lies with this technology. I had the exact same inspiration with BitShares. I feel like the world will forever be a better, richer, happier, more prosperous and more peaceful place as a result of these technologies. The speed with which we adopt and use these technologies is the speed which we can have those things. I hope my books help speed up the adaption of these technologies.
What is covered throughout the book?
BitShares101 is a beginners guide to BitShares. I am not a technologist so in very simple terms I paint bitcoinistthe picture of just how powerful BitShares is and can be. Readers will have a solid understanding of the economics and potential for disruption from this technology without any heavy or technical reading. I explore just some of the use cases of BitShares and the potential for incredible profits for investors, developers, and entrepreneurs.

Who did you work with to write this book?
I wrote the book on my own after several months of research, but I did get it proof read by BitShares founder and lead developer Dan Larimer for technical accuracy.
Thus, each exchange appears bigger than it really is. Eight small exchanges can look like one medium exchange, which is great for bootstrapping new players in specialty markets.
This week alone, BitShares has small exchanges in eight countries expressing an intent to join, each providing a unique experience customized for their language and culture. More are joining all the time, so the composite network is going to start being one of the biggest
exchanges over time. As it does, it makes more sense for other medium exchanges to join to take advantage of the shared network effect and market depths. Like a rolling stone…