Bitdepositary: A Custody and Trading System for Digital Assets
The Bitdepositary whitepaper was published by the project’s core team under the leadership of founder Tobias Graf in 2018, aiming to address the widespread fraud and lack of project verification in the ICO market, and to provide investors with a safer and more reliable crowdfunding environment.
The theme of Bitdepositary’s whitepaper centers on the “world’s first Q-Ratio market ICO crowdfunding community.” What makes Bitdepositary unique is its use of the Proof of Authority (PoA) consensus mechanism on the BDT blockchain, and the introduction of a project verification process involving both the team and the community to ensure project quality and investor safety. The significance of Bitdepositary lies in establishing a decentralized financial market and strict verification mechanisms, aiming to reduce fraud risk in the ICO market and boost investor confidence.
Bitdepositary’s original intention is to solve the rampant project fraud and lack of investor trust in the ICO market, and is committed to building a safe and transparent ICO investment ecosystem. The core viewpoint expressed in the Bitdepositary whitepaper is: by combining the efficiency and reliability of PoA blockchain with community-driven project verification and governance mechanisms, Bitdepositary aims to strike a balance between decentralization, security, and project quality, thereby providing a trustworthy and efficient platform for crypto crowdfunding.
Bitdepositary whitepaper summary
What is Bitdepositary
Bitdepositary can be understood as a “safe haven” or “digital bank” dedicated to providing fundraising services for ICO projects. It’s not just a simple platform, but more like an integrated ecosystem combining blockchain technology and the CRM giant Salesforce. Its core goal is to make ICO investing faster and safer, helping investors avoid unreliable projects, while making it easier for truly valuable projects to get funding.
You can think of it as a “digital project incubator” plus a “secure investment advisor.” On this platform, project teams can publish their ideas, and investors can find vetted and verified projects to invest in. Bitdepositary also integrates multi-currency wallet and crypto exchange functions, allowing you to manage your digital assets and trade all in one place.
Project Vision and Value Proposition
Bitdepositary’s vision is to build a transparent, trustworthy, and secure community where users can safely and conveniently manage all their financial needs. Just like when we go to a bank, we expect our funds to be safe—Bitdepositary wants to provide similar security in the digital asset space.
The main problem it aims to solve is the widespread fraud and token theft in the ICO market. Many investors suffer losses due to information asymmetry or lack of transparency from project teams. Bitdepositary hopes to rebuild trust in the ICO market by introducing strict verification processes, including team and community voting mechanisms, to filter out high-quality projects. This “community co-governance” model is a bit like a “digital investment committee” jointly supervised by everyone, ensuring that only projects recognized by the majority can receive support.
Technical Features
Bitdepositary’s technical foundation is blockchain and Salesforce technology. Salesforce is a very powerful customer relationship management system, and its integration brings enterprise-level security and management capabilities to Bitdepositary.
What’s special is that Bitdepositary has its own blockchain, called the BDT blockchain, which uses the Proof of Authority (PoA) consensus mechanism. Simply put, PoA doesn’t require all miners worldwide to compete for block production like Bitcoin; instead, a few trusted nodes are responsible for validating and packaging transactions, making transaction speeds very fast—about one block every 15 seconds. Imagine sending a letter: PoA is like having a dedicated post office quickly process it, rather than having all mail carriers compete to deliver.
To ensure flexibility, Bitdepositary has also designed a “Crypto Bridge” that allows you to convert between native BDT tokens and BDT20 tokens on Ethereum. This is like a currency exchange between different countries, enabling BDT to be used across different blockchain ecosystems and leverage Ethereum’s vast ecosystem.
Additionally, Bitdepositary has developed a multi-currency wallet (supporting Bitcoin, Ethereum, and other major cryptocurrencies), as well as desktop and mobile apps, making it easy for users to manage assets anytime, anywhere.
Tokenomics
The core of the Bitdepositary project is its native token, BDT.
Token Symbol and Issuance Chain
The token symbol is BDT. Initially, BDT was issued as an ERC20 token on Ethereum, but now it also has its own BDT blockchain.
Total Supply and Circulation
The total supply of BDT is about 104.6 million (104,636,177.509714 BDT). The current circulating supply is about 52.7 million (52,726,376.739156 BDT). However, note that different data sources may report different circulation figures; some platforms show circulation as 0 or not applicable, which may indicate low trading activity.
Token Utility
BDT tokens play multiple roles in the Bitdepositary ecosystem:
- Project Voting Rights: BDT tokens are key for voting during the project pre-investment phase. Investors can use BDT to vote for projects they’re interested in, deciding whether a project gets platform support.
- Investment and Rewards: If a project passes (requires at least 55% approval), investors can use BDT to invest in these verified projects. Users who participate in voting and make correct choices can also receive extra project token rewards, usually 25% additional tokens.
- Risk Protection: If a project ultimately fails to launch, the BDT tokens invested by investors will be refunded. This provides a certain level of protection for investors.
- Payments within the Ecosystem: In the future, BDT is planned to be used for various financial services within its ecosystem, such as crypto banking, credit card spending, and even buying real estate in Dubai.
Team, Governance, and Funding
Bitdepositary’s core team members include:
- Tobias Graf: Founder and CEO, with six years of experience in financial services.
- Carina Graf: Chief Financial Officer (CFO).
- Caner Filizer: Chief Strategy Officer (CSO).
- Mrinal Sharma: Chief Technology Officer (CTO) and Blockchain Architect.
The entire team consists of nine core members, jointly responsible for platform development and operations.
In terms of governance, Bitdepositary emphasizes community participation. Before a project goes live, it undergoes a strict verification process, including internal team review and community member voting. Only projects with sufficient support (at least 55% approval) can be published on the platform. Additionally, legal experts and professionals conduct extra reviews in the early stages to ensure compliance and security.
Roadmap
Bitdepositary’s roadmap shows its development from concept to implementation, but note that the publicly available roadmap mainly covers 2017 to 2019, and some plans are now historical events.
Key Historical Milestones (2017-2019)
- April 2017: TGG Holding GmbH established in Germany, Salesforce development started.
- July 2017: Finance Marketing GmbH established, Bitdepositary business concept formed.
- October 2017: Discussions with legal experts and tax advisors.
- January 2018: Financial license conceptualized.
- April 2018: Bitdepositary company registered in Malta.
- July 2, 2018: Whitelist registration process started.
- August 1, 2018: Private pre-sale ICO began.
- December 20, 2018: BDT token listed on external exchanges.
- February 28, 2019: Integration of fiat wallets (EUR, USD, GBP, etc.).
- May 2019: BDT blockchain (PoA consensus), BDT project investment app (iOS and Android), desktop wallet, Chrome browser extension, crypto bridge launched.
- May 31, 2019: BDT decentralized exchange (DEX) beta launched.
- June 2019: Mobile wallet (iOS and Android) launched.
- Q3 2019: Stablecoin based on BDT chain, Bitdepositary centralized exchange, BDT credit card, use of BDT to buy real estate in Dubai launched.
- May 31, 2019: Credit card delivery.
Future Plans (Outlook at the time, now historical)
- Q4 2019 to Q1 2020: Launch of crypto banking services with IBAN bank accounts.
Currently, there is little mention of the latest roadmap and future plans for Bitdepositary in public sources, which may mean the project’s direction has shifted or public information is not updated in a timely manner.
Common Risk Reminders
Investing in any blockchain project comes with risks, and Bitdepositary is no exception. Here are some common risks to be aware of:
Technical and Security Risks
Although Bitdepositary emphasizes its security, blockchain projects always face technical risks such as smart contract vulnerabilities and network attacks. In addition, its PoA consensus mechanism relies on a few trusted nodes; if these nodes have issues, it could affect network stability and security.
Economic Risks
The price of BDT tokens is affected by market supply and demand, project development, macroeconomic factors, and more, resulting in high volatility. Historical data shows that BDT’s trading volume and market activity may be low at times, which can lead to insufficient liquidity and affect token trading. Also, the project’s whitepaper and roadmap information mainly focus on several years ago, lacking the latest development updates, which may affect investors’ judgment of the project’s future value.
Compliance and Operational Risks
Global regulatory policies for cryptocurrencies and ICOs are constantly evolving. As an ICO funding community, Bitdepositary may face increasingly strict regulatory requirements in different countries and regions. The transparency of project operations, continued team commitment, and community activity can all impact the project’s long-term development.
Verification Checklist
When researching any project in depth, here are some key pieces of information you can verify yourself:
- Block Explorer: You can check BDT token contract addresses, transaction records, and holder distribution via block explorers (e.g., Bitdepositary’s bdtscan.io or Ethereum’s Etherscan) to understand its on-chain activity.
- GitHub Activity: Review the project’s code repository on GitHub to see the development team’s commit frequency, update content, and community contributions, which reflect technical activity.
- Official Channels: Visit Bitdepositary’s official website (https://bitdepositary.io/), social media (such as Twitter, Telegram, etc.) for the latest announcements and community discussions.
Project Summary
Bitdepositary (BDT) is a blockchain project aimed at solving trust and security issues in the ICO market. By combining blockchain and Salesforce technology, it has built a “super secure” ICO funding community and its own PoA consensus blockchain. The project’s core value lies in its strict project screening and community voting mechanisms, designed to protect investors from fraud and provide funding for quality projects. BDT tokens play key roles in voting, investing, and rewards within the ecosystem.
However, it’s important to note that much of the publicly available project information, especially the roadmap, mainly focuses on several years ago. This may mean the project’s development focus has shifted, or public information is not updated in a timely manner. Also, BDT token circulation data varies across platforms, and current trading activity may be low—these are potential risk factors.
Overall, Bitdepositary presents a valuable vision of providing a safer platform for digital asset investment. But before considering any participation, be sure to conduct thorough personal research (DYOR) and carefully assess all potential risks. This is not investment advice.