BitShares is a hive of DACs implementing business models of a bank and exchange. BitShares X offers clients bank accounts in which funds can be transferred in seconds from anywhere in the world, offering more security and privacy than a Swiss bank account. BitShares X accounts can never be frozen, funds cannot be seized, and the bank itself can never collapse. Unlike most existing banks each account balance can be denominated in commodities such as silver, gold, and oil, as well as national currencies. BitShares also offers an exchange in which commodities, currencies, and stock derivatives can be traded. BitShares takes a cut of every transaction and uses the Burn Rate to pay these fees to delegates and shareholders.
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