Over recent years, cryptocurrency and bitcoins have gained popularity in the virtual world. Virtual sales and purchases of items have to lead to the technology of cryptocurrency and it’s advancements. Though popular, cryptocurrencies are yet to be fully embraced by society as a formal model of financial transaction. This resistance is facilitated by a number of factors. Below is a description of the factors and how Malcolm CasSelle and Opskins plan to deal with them through WAX token.
First, there is very little technology that supports cryptocurrency in different devices and applications. While this may seem like it’s far fetched, there are very few technologies in phones, computers, and computer applications. These technologies are yet to be incorporated by the service providers making it hard for the general public to understand and utilize cryptocurrency. Integration of services and devices. There are too many, individual devices and service providers making it difficult to develop a system that supports all of them at the same time. If these systems were united, using the same protocols, it would be easier to incorporate cryptocurrency. A WAX token is a blockchain that facilitates virtual assets trading. By being a blockchain, it Shadows all the integrated systems under one umbrella promoting P2P marketplace.
Lack of understanding. The general public may have heard of cryptocurrency and it’s different functionalities but they do not have sufficient information or the know-how of technology. The WAX token is very simple and easy to use since it has been designed to support the many types of users. The WAX token is from a world leading in in-game assets sales, Opskins and is being led by a renowned tech business person and entrepreneur, Malcolm CasSelle. The two have an extensive understanding of user-oriented technologies.
Finally, the most pressing issue or challenge in the implementation of cryptocurrency is fraud and security of the users and their assets. Online activities especially online financial transactions have been the most affected by fraud, financial fraud as well as misrepresentation of a person or an asset. This is not any different for the cryptocurrency. On security and fraud during virtual trading, Malcolm CasSelle and Opskins have incorporated the use of a smart-contract that is usually signed by the persons participating in a trade. The smart con holds the parties accountable for their transactions.