Fraud is a constant worry in decentralized marketplaces. Forget fragmentation, although that is a huge pain in rumpus, fraud is just plain inconvenient. You set up a transaction, give up your precious commodity, and get stiffed. Nothing is worse. Luckily the new platform from OPSkins fixes all that. Worldwide Asset eXchange is not only defragmenting the decentralized marketplace, but it is also ridding it of fraud. It does this by using blockchains. Very simple but completely effective.
WAX blockchains use a Delegate Proof of Stake algorithm to create smart lists. These lists divide service providers such as companies and individual gamers into guilds. Guilds receive ratings based on votes given by users. Much like rating system on Amazon. If a guild gets lower votes, then their rating goes down, which makes many loathe to deal with them. Guild that have higher ratings have a better reputation and more business. Gamers want to be assured of legitimacy and the node voting of WAX blockchains creates that. It also does something else.
Guilds want to have the best ratings, so they can get the most business. This keeps them honest but also makes the market competitive. As politicians are willing to out of their way for better votes, so will WAX guilds. They will offer lower prices, and better service, creating a healthier environment for gamers. This new innovation from Malcolm CasSelle may very well legitimized cryptocurrency into a viable trade medium.
Malcom CasSelle is an entrepreneur, businessman, investor, and cryptocurrency guru. He was an early investor in bitcoin and has been involved in the market ever since. CasSelle is the CIO of OPSkins and helped the company become the largest bitcoin expert in the world. He is also the president and CEO for WAX.
CasSelle is a graduate of MIT with a bachelor’s in computer sciences. He also holds a master’s in computer sciences from Stanford University. CasSelle has been active for decades, forming his first company back in 1995. Since then he has been all over the place, most recently serving as CTO and president of new ventures for Tronc Inc.