Tokenising Bitcoin on Ethereum?! | Wrapped Bitcoin ($WBTC)

Wrapped Bitcoin (NOT AN ICO) is aiming to tokenise Bitcoin as an ERC-20 Token, allowing for benefits such as cheap and fast transactions

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What is Wrapped Bitcoin?
What is $WBTC?

In this video, I attempt to answer the questions above by carrying out a thorough analysis of the upcoming project.

Wrapped Bitcoin is not an ICO. This This is a project being jointly developed by several existing players in the Crypto space:

- BitGo
- Republic Protocol
- Kyber Network
- Idex
- Blockfolio
- Maker
- Gnosis
- Plus several more well known names

Together, they will tokenise Bitcoin as an ERC-20 token on the Ethereum network. This provides several benefits such as faster and cheaper transactions, the ability to create Bitcoin trading pairs on decentralised exchanges and allow Ethereum-based project to begin using Bitcoin within their platforms.

From my understanding, the projects listed above will form a Decentralised Autonomous Organisation (DAO) in order to provide project governance and allow for on-chain auditing to ensure that BitGo (the custodian) always holds a 1:1 ratio of Bitcoin to WBTC.

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⌚TIME JUMPS

1:19 - What Is Wrapped Bitcoin?
2:14 - How Does WBTC Work?
3:07 - Supporting Projects
4:37 - Advantages
6:47 - Negatives
8:38 - Conclusion

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Disclaimer: None of this is financial advice. Please remember that all of our videos are simply our personal opinions. I don't claim to be a market expert and I'm only human so I will make mistakes from time to time. Always do your own research and never invest more than you can afford to lose. Investments can go up and down with cryptocurrencies being an especially volatile market.