Dan Larimer an Entrepreneur has discovered a way of creating a fiat/Bitcoin exchange without fiat deposits by introducing a token that is backed by another token on the same blockchain On June 2nd 2013.
While discussing this concept with other crypto-enthusiasts on various Internet forums, He introduced his ideas to Charles Hoskinson, a co-founder of Ethereum, who helped to vet the idea and develop a business plan. They both presented the plan to Li Xiaolai, a Chinese Bitcoin tycoon, who agreed to fund the development.
On 4th of July and they have founded a company named Invictus Innovations. Few month later, In October 2013 Hoskinson and Larimer presented the concept of BitShares at the Atlanta Bitcoin Conference .
Decentralized Asset Exchange:
A fast and fluid trading platform with Flexible withdrawal permissions
SmartCoins provide the freedom of cryptocurrency with the stability of the dollar.
Industrial Performance and Scalability:
Over 100,000 transactions per second. User can do Recurring and Scheduled Payments
Dynamic Account Permissions:
Management for the corporate environment. User-Issued Assets: Regulation-compatible crypto asset issuance. Transferable Named Accounts and Delegated Proof-of-Stake Consensus.