December 28, 2016, Moscow, Russia – Business Incubator of Higher School of Economics in Moscow has announced the second year of FinTech startup program HSE{Pro}Fintech. Official partners of the FinTech section are Waves, the decentralized platform for crowdfunding and community management and National Settlement Depository.
FinTech applications
The Incubator recently launched the second round of its {pro} fintech programme. The program aims to develop projects in the field of financial and blockchain technologies, in particular services for banks and their customers, personal finance management systems, peer-to-peer services, investment systems, payments, transfers and other FinTech products.
Whilst Bitcoin has pioneered peer-to-peer online money transfer for almost 8 years now, Blockchain 2.0 technology is still in its relative infancy. A number of decentralized asset exchanges have already been created, including on the Nxt, BitShares, and Counterparty platforms. However, none of these have achieved significant traction, for a number of reasons. Firstly, they were small ecosystems. The assets traded generally had low liquidity and high spreads, and being decentralized platforms there was little accountability and a large proportion of low-quality and fraudulent assets. Regulations were practically non-existent. Additionally, trading was slow due to inherent block-time limitations of the blockchain. This made it almost impossible to attract legitimate new businesses and for these early decentralized exchanges to achieve critical mass.
New solutions
Waves platform is aiming to bring solutions to all of these problems with its Waves’ DEX (decentralized exchange), which has just been released on testnet. It allows any token to be traded directly against any other token – rather than trading two tokens separately against a reference currency, as most other platforms require. Moreover, it features an innovative new system that enables trades to be executed in near real-time via a “Matcher”, enabling high-frequency trading but still be settled on the blockchain for security.
Additionally, fiat gateways are in the process of being created to allow the use of blockchain-based EUR, USD, CNY and other major currency tokens. Gateways, which act as on- and off-ramps between the traditional financial sector and the blockchain, are responsible for remaining compliant in their regulatory jurisdictions. Thus, the Waves DEX allows for speed, security, and compliance.
Learn more about Waves at – https://wavesplatform.com
Media Contact
Contact Name: Evelina Lavrova
Contact Email: evelina@wavesplatform.com
Contact Phone: +79165775866
Location: Moscow, Russia
Waves Platform is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.