On May 6, the third issue of the Cryptographic Analysis video clip was released on the BlockchainJournal YouTube channel. On the air of Xena.Exchange CEO, Anton Kravchenko spoke about the Steblecoin Tether, the future of cryptobirth and the secret blockchain project of Facebook.
The purpose of the rubric is to conduct a fundamental analysis of the industry and talk about trends that affect the cryptocurrency market. New issues are published every two weeks.
Editorial BlockchainJournal chose the most interesting moments from the stream.
About Tether
To withdraw money, the user must go through the KYC procedure. Formally, Tether gives the right to provide, but the owners of the token cannot exercise this right. It is not known whether the KYC user will pass, whether the project will give money. Tether is an exchange of candy wrappers for dollars.
In all normal banks, customers pass KYC at the entrance, not at the exit. Client's money is already in the bank. If he demands them, no one will force him to go through KYC. Tether in this regard is the first mover. Very strange project.
About access to security
Paxos all do wrong . If a steyblecoin does not give access to collateral, then this is not a steeblecoin, but a project with counterparty risk. Now users can only rely on the authority of the issuer. Decentralized access to security should solve this problem. While it is too expensive, but such projects will most likely appear in the future.
About IEO craze
HYIP around IEO is good. No need to buy software from third-party developers and place coins on it. The exchange will do it normally, and even vouch for the project with its name.
While this is a very young infrastructure. After two or three years, decentralized banks and decentralized insurance companies will appear. But now only the exchanges work. And some of them look more like casinos.
About licenses for cryptocurrency exchanges
No need to work with banks that violate the law. There are three licensing options:
- EMoney license. You can only take Fiat with her.
- Broker-dealer license. It is better to get it in Mauritius, and not in Estonia or in Malta. This license allows you to sell security tokens and work with Fiat.
- MTF (multilateral trading facility) and ATS (alternative trading system) licenses. They cost about $ 2 million, and the same amount goes to the work of the staff. With this license you can almost everything. This is a great opportunity.
On the growth of Bitcoin Cash hashrate
The growth of the hashrate does not affect the reliability of Bitcoin Cash. It affects what hash rate is in the same hands. The more a person hashrate, the stronger his power over the network.
I do not believe in Bitcoin Cash, SV and ABC. This is a market error.
About blockchain project Facebook
The developers tried several times to launch a social network on the Akasha blockchain. All attempts were unsuccessful. The fact is that Facebook is a monopolist. The new social network can not press Facebook, but Facebook can integrate the blockchain.
On the other hand, the blockchain for Facebook is not an ideal solution. They simply do not want to be left behind if some movement begins.
About the future of cryptocurrency exchanges
In the future, part of the venture capital investment will take the form of security tokens. New products will be developed: trade in volatility, trade in mining complexity, indices, baskets. Part of stock trading will be transferred to the microservice infrastructure, which will work around the clock.
Listing tokens must die. On the stock exchanges should not be projects that themselves pampyat.
There will be no decentralized exchanges. Instead, centralized exchanges will have decentralized accounts. The user will keep money in his account and trade on a centralized platform. And all this will be regulated.
The next broadcast in the framework of the joint with Xena.Exchange column "Analysis of the cryptoindustry", see on Monday, May 20, on Channel BlockchainJournal on YouTube . Subscribe!
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