Anyone who is remotely connected to the crypto and altcoin community has heard of the new player in town, Waves. But just in case you may have been living under a rock somewhere on Mars, and failed to notice the staggering amount of Bitcoin (over 29 thousand Bitcoins) Waves was able to gather during its ICO period, here’s what’s you need to know about Waves:
Waves plan to bring Fiat currencies and Blockchain technology together in an almost poetic symbiosis, taking the advantages of the blockchain, such as speed, low fees and commodity to the world of mainstream finance.
Anyone will be able to deposit fiat currencies (EUR, USD, CNY) through fiat gateways present in the Waves platform, such as payment providers, convert them to fiat tokens, transfer them over the blockchain in a matter of seconds. Those same fiat tokens available for withdrawal, according to the value and currency the token represents, on the other side of the ocean or just a block away (no pun intended).
Waves is a platform for the average user who may want to make a worldwide money transfer, as well as for corporations or startups who may want to create and manage their assets or crowdfunding campaigns outside of a centralized broker system, which often imposes endless limitations. Decentralized and asset-to-asset exchange will also be possible within the Waves platform.
Waves plans on being a KYC and AML (Know your customer & Anti-Money Laundering) compliant platform, which may seem contradictory when one considers that it is decentralized asset exchange at the same time. Fiat gateways will be issuing fiat tokens by themselves on the platform, and they have all needed licenses already in hand, KYC will be done by users directly on the gateways also. The KYC & ALM implementation may seem to go against […]
