The market for virtual assets has always had to contend with widespread security problems. Rampant fraud has led to many incomplete receipts, delivery issues, and one-sided transactions. Users of both centralized and decentralized markets have not only had to put up with fraud but also fragmentation. To provide needed security digital markets have relied on an army of intermediary operators. International sales also require the use of intermediaries to handle the exchange of various currencies. So many fingers in the virtual pies have led to a rise in prices and overall stall in transaction times. Such hurdles have prevented cryptocurrency from gaining a mainstream platform and continue to bar its access. Blockchains have changed all that however, and a new trading platform from OPSkins plans to change a lot more.
OPSkins is a global leader for in-game asset sales. It is also the largest Bitcoin merchant on Earth. Much of this is due to Malcolm CasSelle, the current CIO of OPSkins and the president of Worldwide Asset eXchange. WAX is a P2P trading platform that operates in a decentralized market. It uses blockchains to eliminate both fraud and fragmentation in a manner CasSelle heralds as the future. In fact, CasSelle believes that WAX is the key to cryptocurrency going mainstream. In a recent statement he proclaimed that the gaming industry is the fuse that will light everything up. As gamers worldwide have been dealing in digital assets for years, a market like WAX could very well create the interest necessary for cryptocurrency’s evolution.
Blockchains use cryptography to create huge data chains. These chains keep track of all transaction on the digital market. They allow for the creation of smart contracts that guarantee honest, straight-forward, and successful transactions. They also eliminate the need for a middleman which deals out fragmentation.
A graduate of both MIT and Stanford with corresponding graduate degrees in Computer Science, CasSelle has been part of the virtual world since ’95. CasSelle, who was an early investor in Bitcoin as well as Facebook, has always been at the forefront of innovation. He sees such innovation in blockchains and is banking on their future success with WAX.