Democratizing Cryptocurrency   

 

 

Shingo Lavine 

Bitquence Founder  

 

 

 

 

 

 

 Version: 1.3.0 

Last Updated: September 14th, 2017  

 

“The future is already here, it’s just not evenly distributed” 

William Gibson, The Economist, 2003 

 

 

 

Table Of Contents Introduction: Vision, Team, Problem, Solution, Background 

1. The Bitquence Platform 

1.1  Bitquence Universal Wallet 

1.2  One-Click Diversification 

1.3  Bitquence Settlement Layer 

1.4  Social and Community 

2. The Bitquence Token 

2.1  Token Sale and Distribution 

2.2  Funding Development 

2.3  Value and Liquidity Network 

2.4  Long-Term Roadmap 

2.5  Legal Hurdles 

3. Looking to the Future 

3.1  Linking to the Fiat Economy 

3.2  Cryptocurrency Services and Mass Adoption 

3.3  Balancing Decentralization 

 

   

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Vision Bitquence’s vision is to create a people-powered new economy services company that makes 

the cryptocurrency market accessible and trustworthy to the average user, accelerating 

adoption of blockchain technology and democratizing ownership of cryptocurrencies.  

 

Team 

While this is a massive vision, Bitquence has an experienced and enthusiastic team and 

community who are ready to make this vision a reality. The Bitquence team brings together a 

unique collection of experts across cryptocurrency, financial services, distributed computing 

systems, mobile technology, and broad scale consumer app development that has built 

multiple award-winning applications and collectively powered over $1 billion in mobile micro 

payments. 

 

Problem The Bitquence platform is designed to tackle specific problems in the world of 

cryptocurrency: 

- Choosing between an ever-growing array of crypto currencies 

- Understanding attributes across different crypto assets 

- One-click diversification into multiple crypto assets 

- A safe and secure mobile wallet that handles multiple keys 

- Being able to easily transfer value across digital assets 

 

The $4 Trillion Financial Services Industry The S&P 500 in the United States is worth $20 trillion. 20% of the S&P 500 is made up of 

financial services companies or $4 Trillion. For the cryptocurrency industry to go 

mainstream, it will have to ultimately become more user friendly and enable a safe and 

secure way to invest in cryptocurrencies and alt coins. 

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Solution The Bitquence team has mapped out a multi-year approach to building a scale platform that 

will tackle these problems in a way that builds a powerful new ecosystem. Bitquence will be 

building services and tools that will accelerate user understanding and interaction of what is 

right now a confusing and dangerous industry. Bitquence will build a bridge between the new 

economy and the old by unifying crypto and traditional assets on a consolidated platform..   

Background Over the past several decades there have been a number of macroeconomic events that have 

fundamentally changed the way that society operates. The Digital Revolution changed the 

way we treat data and computation. We saw the rise of the modern internet in the dot.com 

boom and more recently we’ve begun to experience the Internet of Things. Cryptocurrencies 

and blockchain technology are now making way for the “Internet of Value” and Fintech 

companies are paving the way to a decentralized, unencumbered financial future.   

Cryptocurrencies have skyrocketed in recent years, rapidly reaching huge valuations. 

 

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Cryptocurrencies are often not very accessible to the average user due to technical or 

expertise barriers. So while digital assets such as PIVX offer eye-popping returns, it is also 

extremely difficult and mystifying for even sophisticated participants, let alone the average 

consumer. 

 

The market cap of these new generation of cryptocurrencies still pale in comparison to the  

U.S. economy, let alone global markets. Valuations of the global stock markets are over $70  

Trillion, dwarfing the total cryptocurrency market capitalization of $100 Billion at the time of 

writing. There is massive room for expansion if more investment begins to flow into the 

sector, safety and security can be strengthened, and useful services are built on the disruptive 

blockchain technology.  

 

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Wall Street and big banks are beginning to take notice of the huge potential of the blockchain 

and the latest cryptocurrency returns. While we welcome their participation, the 

decentralized, trustless nature of the blockchain needs to be preserved. Cryptocurrency 

represents a fundamental threat to the way that many financial institutions operate and it 

would be foolish to think there won’t be resistance.  

 

“Rather than justice for all, we are evolving into a system of justice for those who can afford it. 

We have banks that are not only too big to fail, but too big to be held accountable.”  

― Joseph E. Stiglitz 

 

That’s why Bitquence aims to create a people-powered 

cryptocurrency services company for the blockchain. 

Bitquence’s Mission is to make the cryptocurrency market 

accessible and trustworthy to the average user, accelerating 

adoption of blockchain technology and democratizing 

ownership of cryptocurrencies. This is a key part of the 

philosophical mission established by Satoshi Nakamoto. By 

allowing the average participant to easily purchase 

cryptocurrency in pre-diversified basket arrays of their choice, participate in consensus 

quality and risk ratings and potentially send value anywhere quickly and easily, Bitquence 

helps make the new economy easy, safe and secure and accessible to everyone.  

 

Bitquence is the first cryptocurrency services company to synthesize many of the needs of the 

new economy. The Bitquence Universal Wallet will enable rapid diversification into multiple 

digital assets quickly, easily and cheaply. This will pave the way for the Bitquence Digital 

Liquidity Network, which will facilitate global digital payments instantly between any crypto 

and fiat currency. While this is a massive vision, Bitquence has an experienced and 

enthusiastic team of financial and mobile experts who are ready to make this vision a reality.  

 

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Bitquence’s vision is to: 

 

● Make purchasing cryptocurrencies and digital assets as easy and safe as possible 

● Leverage a community to reward experts for assisting in the education of newcomers 

● Launch a variety of diversified cryptocurrency investment baskets making it simple 

and painless to buy in with crypto and fiat currencies.  

● Enable a universal mobile Bitquence wallet to provide a safe and secure way to buy, 

trade and hold a variety of cryptocurrencies. 

● Create a Bitquence token to pay for platform services while generating liquidity for the 

entire network 

● Eventually integrate Bitquence into existing crypto and fiat systems to create a 

powerful all-in-one portal to the new economy 

 

We are going to bring the financial future to you. 

 

Are you ready? 

 

 

 

 

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1. The Bitquence Platform There are hundreds, if not thousands, of different wallets out there for all of the different 

digital assets and managing lots of wallets for each of your currencies is difficult. Here at 

Bitquence we wanted to create a platform that could provide a powerful single point of 

interaction with the new economy. This Next-Generation Digital Wallet will be the backbone 

for our asset management and cryptocurrency services platform. The universal wallet will 

allow us to bulk transactions together in order to increase liquidity and keep costs down for 

consumers. This infrastructure also allows us to create a universal mobile payment system for 

users who wish to transact in any currency instantly breaking down barriers towards mass 

adoption in the industry. In this section we will outline the pieces of the Bitquence Platform 

that will make it the most user-friendly way of buying cryptocurrency on the market. 

 

The Bitquence platform has three main components: 

 

● Bitquence Universal Wallet: This includes a decentralized wallet management 

system which links to the Bitquence Settlement Layer and allows for the easy transfer 

of value anywhere in the world. 

 

● Bitquence Settlement Layer: This system handles diversification and settles value 

transfers between Bitquence users and exchanges. The BSL simplifies diversifying 

across wide varieties of assets.  

 

● Social and Community: The Bitquence platform seeks to connects novices and 

experts and reward those who help to educate others. The platform will be a friendly 

place to learn and begin interacting with cryptocurrencies.  

 

 

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1.1 The Bitquence Universal Wallet The Bitquence Universal Wallet is a wallet management system that allows users to quickly 

and easily interact with their coins. The Universal Wallet will allow users to view, send and 

receive balances of any supported cryptocurrency. The wallet manager is decentralized 

meaning that consumers have complete control over their private keys. Bitquence manages 

only encrypted versions of keys so that users don’t have to manage them on their own, and 

Bitquence can’t access the coins without user authorization. All changes in balance are 

completely user-directed and there are no locks or limits. The goal is to create a safe and easy 

wallet that operates utilizing the complete user autonomy and control that cryptocurrencies 

afford. The Bitquence Universal Wallet operates much like a password vault making key 

management much easier than before.  

 

The Bitquence Universal Wallet offers users a variety of features not afforded by other wallets, 

leveraging the unique capabilities of the Bitquence platform. Mobile support is a priority for 

Bitquence so that consumers can have access to their coins wherever they go. 

 

 

 

 

 

 

 

 

 

 

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1.2 One-Click Diversification One-Click Diversification enable users to diversify coins across a variety of cryptocurrency 

assets. The value of your allocations will track precisely to the underlying assets. Bitquence 

will have a range of preset allocation arrays that users can replicate, and can adjust the 

percentage of asset allocations to their preference, assuming liquidity of 

the underlying asset.   

 

When you build your personalized basket using a Bitquence Allocation 

array, you will be given an estimated cost and amount of underlying assets 

securing your investment. All investments are secured 1:1 by underlying 

assets. The benefits to Bitquence Allocations are as follows: 

 

Risk Diversification: Spread funds across dozens of crypto currencies or tokens, 

making it less risky than purchasing an individual currency. 

 

Accessibility : Cryptocurrencies become easier to purchase, enabling average 

participant and consumers to experience the benefits, and raising liquidity for all 

market participants. 

 

Community Expertise: Bitquence aggregates information on different tokens and 

provides insightful data through community predictions so that you know what 

you are buying. 

 

Low Cost: Bitquence allocations will have low transaction fees, ensuring that the 

power and freedom of crypto currency remains intact as “wall street” and 

professional venture participants start to enter the market.  

 

Time Savings: Bitquence allocations will enable people to simultaneously invest 

in multiple currencies instead of having to own and manage multiple wallets. 

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We imagine Bitquence Allocations to be like “coin collections” or “coin baskets” - diversified 

baskets of new economy tokens that can be easily purchased, held and reallocated as 

needed. One-Click Diversification is built on top of the Bitquence Universal Wallet 

architecture giving you full control over all allocations and funds.  

 

1.3 Bitquence Settlement Layer 

The BSL is a settlement engine that will handle 

the trades for one-click diversification. Buy and 

sell orders will be pooled and executed every 

hour to lower transaction costs. Bitquence is not 

a day-trading site, but rather an easy way to 

diversify and hold funds across multiple 

currencies. As Bitquence and cryptocurrencies 

reach higher volume and liquidity, we anticipate 

that this settlement period may become shorter.  

 

The settlement engine settles offsetting orders in 

the Bitquence platform and will use API 

integrations with exchanges to settle any 

additional trades. Using the BSL with One-Click 

Diversification, you will be given an estimated 

conversion rate and bounds under which the 

trade will be executed. As BQX (The Bitquence 

Token) gains additional liquidity, we anticipate 

that the BSL could utilize BQX creating a digital 

liquidity network allowing the easy transfer of 

value through the Bitquence Token. Simplicity and transparency for novice users are critical 

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to the vision of Bitquence and hope that the BSL drastically simplifies cryptocurrency 

experiences for many people. 

1.4 Social and Community The Bitquence platform will also be a social 

platform for users to share expertise and get 

rewarded for helping newer users 

understand the confusing cryptocurrency 

space. Bitquence Predictions allow users to 

guess the future movement of a 

cryptocurrency and generate reputation as a 

trusted and experienced member of the 

Bitquence community. Experienced members will be able to advertise portfolios and get 

users to “follow” them and gain access to their trades and any content they share. Followers 

will pay BQX which will go towards rewarding the users who are followed. The goal is to build 

a community of likeminded individuals educating and collectively navigating the new 

economy. The Bitquence community is very important and special to us and we hope to 

channel the community’s enthusiasm into every release. 

 

 

 

 

 

 

 

 

 

 

 

 

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2 The Bitquence Token The Bitquence Token (BQX) is essential to the function of the 

Bitquence platform. BQX is an Functional Token that will be used on 

the platform to access various features and fees. Furthermore, as 

BQX becomes more liquid over time, we anticipate it could be used 

to rebalance individual portfolios. In other words, liquidity 

generated by BQX from fee conversions and BQX trading pairs can be 

used in a “liquidity network” that would enable users to shift 

allocations between various currencies quickly and easily.  

 

In short BQX Tokens will : 

 

● Be the payment mechanism for accessing and using services on the Bitquence 

platform 

● Pay for transaction fees and API calls 

● Enable liquidity to help with changes in user asset allocations  

 

However, BQX Tokens will NOT : 

● Pay dividends or profits of any kind 

● Enable holders to vote on company matters, or 

● Control the company in any way 

 

In the future, Bitquence Tokens may be used to send value, similar to PayPal. This is where 

we hope to get to and believe that it will require navigating technical and legal solutions with 

care and expertise.  

 

 

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2.1 Token Sale and Distribution 

Bitquence launched a token sale to distribute 30% of the token supply to the public. 30% of 

the tokens were allocated to Bitquence for 

development and expenses. The remaining 40% of 

the tokens are reserved to provide liquidity on the 

Bitquence platform as we begin to move towards 

the Liquidity Network. We wish to be as 

transparent as possible about token ownership 

and our development roadmap to dispel concerns 

about vaporware or “pump and dump” scams. We 

believe in the power of cryptocurrencies and are committed to building high-quality services 

around that philosophy.  

 

We took a unique approach to our sale and wanted to be fair to any participants. Final token 

supply was dependent on the amount of ETH raised. Any tokens that were not sold during the 

token sale were burned. This unique approach meant that the community gets to decide how 

much this project is worth. 

 

2.2 Funding Development 

Bitquence’s priority, first and foremost, is building a platform that delivers a useful service to 

members of the cryptocurrency community. To build this service, Bitquence will be using 

funds raised in the token sale and will leverage BQX tokens allocated for operating expenses 

of the company to reach this goal. As such, some tokens will begin to enter circulation later 

than others and we want to disclose that publicly. Circulating supply will slowly increase over 

time as tokens are used in the course of development from the operating expenses pool. By 

utilizing BQX as payment with vendors and employees, interests are aligned in making the 

ambitious vision of Bitquence a reality. 

 

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2.3 Value and Liquidity Network Tokens were issued on the Ethereum Network using ERC20 standards so that they could 

leverage the full security and capability of an established blockchain. By utilizing the 

Ethereum network it offered BQX easy exchange integration, enhanced liquidity and the 

ability to leverage existing technical infrastructure that many users are already familiar with. 

 

Bitquence will be using the 40% liquidity network pool to stake initial liquidity on the 

platform. All initial counterparty risk will be absorbed by the BQX used to stake the network 

which will encourage the Liquidity Network’s use and adoption as a value transmission 

standard. 

 

2.4 Long-Term Roadmap 

 

 

 

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Our vision is to make cryptocurrencies easy and safe to use and send anywhere in the world. 

It is a simple, yet ambitious vision, but we believe that our roadmap can lead us to achieve 

this vision. Below we have outlined names for the releases and what they entail. 

 

Bitquence Release 1: “Amber”  

Predictions and Social 

 

The first release we anticipate is Amber which includes Bitquence Predictions and some of 

the social features of the platform. This release will be limited to the Bitquence Product 

Council and some select members of the Bitquence Community. This release will include 

Bitquence Predictions which will generate valuable data and intelligence on market 

sentiment and social features which will help many of the newer users interface with experts. 

We hope to refine the product and gather valuable data in this stage before we move onto 

Onyx which is our second release.  

 

Bitquence Release 2 - “Onyx” 

Bitquence Universal Wallet 

 

The second release is Onyx which includes the Bitquence Universal Wallet. In this stage we 

hope to release the first iteration of the Universal Wallet as well as a companion mobile 

application to manage all of your funds in one place. The Universal Wallet will be 

decentralized (user owned and managed) giving users complete control over their funds. This 

release will be open to Bitquence Token Holders.  

 

Bitquence Release 3 - “Alexandrite” 

One-Click Diversification 

 

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The third release is Alexandrite which includes One-Click Diversification and the Bitquence 

Settlement Layer. In this release users will be able to diversify their funds on top of the 

Universal Wallet architecture. This is a powerful feature since it allows novice market 

participants to quickly become exposed to variety of cryptocurrencies instantly. 

 

 

Bitquence Release 4 - “Palladium” 

Fiat Integration 

 

The fourth release, Palladium, will be fiat integrations. To begin accepting fiat, it will require 

analysis of many legal and regulatory hurdles. We will have to comply with AML/KYC and 

ensure the platform is highly secure before allowing any fiat in or out. We anticipate that this 

will require a great deal of legal and regulatory analysis which is why we are pushing it out in 

our timeline. This is a high priority for us and we believe we have the expertise required to 

tackle U.S. markets. 

 

2.5  Legal Considerations The introduction of Bitquence involves many legal and regulatory complexities. In fact, these 

intricacies were the determining factors in our decision to restrict access to our Token Sale 

from those residents located in both Singapore and the United States where public policy 

was extremely fluid. Although an analysis of BQX Tokens found our tokens to be of the pure 

Functional Token class bearing no resemblance whatsoever to the more controversial 

Tokenized Securities, we felt it more prudent at that time to proceed with these restrictions 

as a matter of extreme caution. However, these restrictions have subsequently been removed 

to ensure we can service both Singapore and United States residents as we move forward on 

our development path and ultimate launch of the Bitquence Platform. 

 

Legal considerations include: 

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● Compliance with Know Your Customer (KYC) regulations and requirements 

● Implementation of Anti-Money Laundering (AML) regulations and requirements 

● Applicability of Jurisdictional Investment Company Laws, including Investment 

Company Act of 1940, to Bitquence services 

● Applicability of Jurisdictional Adviser Laws, including Investment Advisers Act of 1940, 

to Bitquence services 

● Applicability of Jurisdictional Securities Laws, including Securities Exchange Act of 

1934, to Bitquence services (Broker Dealer / Exchange / ATS) 

● Applicability of Jurisdictional Securities Laws, including Securities Act of 1933, with 

Token Classes made accessible on the platform (Securities Classification) 

 

These issues should be considered by users considering advanced purchase of Bitquence 

tokens. The fundamental role of the Bitquence token is to act as “gas” for the Bitquence 

platform where users having BQX can access services on the platform including those 

enabling portfolio construction, asset allocation rebalancing between various 

cryptocurrencies and the Universal Wallet. However, depending on the above legal analysis, 

the Bitquence service, either in whole or part, may not be available in certain countries. 

Prospective token holders in the Bitquence Platform should consider these facts prior to 

purchasing any Bitquence tokens. 

 

3  Looking to the Future The Bitquence application is designed to be developed and deployed as quickly as possible. 

Initially Bitquence will run on cryptocurrencies and will be thoroughly scale-tested prior to 

the integration of any fiat currency gateways. The core priorities of the application are:: 

 

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Security: Rock solid cold storage technology and protocols. 

Scalability: The capacity to handle scale transactions. 

Accessibility: Making the platform fast, easy and mobile-friendly 

 

But Bitquence has bigger plans beyond launching a convenient asset management platform. 

We want to position Bitquence in the market to be the leader in secure value management in 

the new economy. 

 

3.1 Linking to the Fiat Economy Bitquence’s ambitions include the introduction of a hybrid solution where crypto and 

traditional assets co-exist across a dynamic platform that enables consumers to monitor, 

manage and access all of their financial assets across a uniform platform. Delivering a 

uniform solution for crypto and traditional assets will be a critical tool in a consumer’s 

toolbox over the next decade as the natural progression of what began as the “paperwork 

crisis” in the late 1960’s shifts away from the movement of physical stock certificates to 

book-entry form (dematerialization), to a complete digitization of assets of all types.   

 

While this transition occurs, the Bitquence Platform will provide consumers with essential 

technology that allows diverse financial holdings, both digital and traditional assets, to be 

made readily accessible across a unified platform that enables consumers to better diversify 

risk and manage assets of all kinds. 

 

3.2  Cryptocurrency Services and Mass Adoption Bitquence’s vision is to be the standard for 

cryptocurrency services in the New Economy. By 

bridging the gap between the old and the new, we 

intend to offer a safe and easy way for anyone to 

interact with the future of finance. Global 

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remittance, instant payments, localized payment portals and so much more are possible with 

the Bitquence Infrastructure. Furthermore, the Bitquence model can create a cryptocurrency 

services company whose interests align with those of the people that it serves with Bitquence 

Tokens.   

 

3.3 Balancing Decentralization Ripple started as a centralized service that intended to decentralize in the future. Bitquence 

will decentralize pieces as it makes sense in development. A big issue that cryptocurrencies 

have been facing is that there is no “support line” that you can call if something goes wrong 

with your money. While autonomy and control are key to the philosophy of cryptocurrencies, 

mass adoption is impossible without proper consumer protection and services in place. This 

is why we decided to decentralize (self-manage) the Bitquence Universal Wallet to preserve 

the ideals of the cryptocurrency system, but at the same time building a technical 

infrastructure that supports and protects consumers. Not all pieces of the Bitquence platform 

need to be decentralized and centralizing many pieces of it will result in a better end-user 

experience. We believe that this process will involve carefully preserving cryptocurrency 

ideologies while enabling mass adoption.  

 

We are incredibly excited about the huge potential of Bitquence. Thank you for reading our 

Whitepaper, and please visit www.bitquence.com to follow us on social media and interact 

with our community-driven project. 

 

 

 

 

 

 

 

 

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www.bitquence.com  

 

 

 

 

 

 

 

 

 

This is not an offer or to sell or a solicitation to buy any digital assets. The cryptocurrency space is

volatile. Please be careful and thoughtful when purchasing any cryptocurrency token, digital asset or

token sale. This paper can be changed at any point with no prior notice. You are responsible for

complying with local jurisdictional laws and regulations. We encourage and support reporting and

paying taxes on your cryptocurrency gains. 

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