A Brave New World and Five Challenges Cryptocurrencies Face

The crypto industry easily expands beyond time-slots and national markets. Its reach is palpable in spite of a mounting pressure projects face from ill-determined regulation. Not only that, but the number of initiatives that try to lay the groundwork of a global crypto network seems to be proliferating. And yet, everyone is pushing in different directions.

Now, overcoming the sentiment of aimlessness will definitely be difficult, but there’s no shortage of ways to fix that. Give cryptocurrency owners a chance to trade their assets for FIAT money and drive a boon in the industry. How difficult would it be to dispense with the steep and often unjustified commissions? Turns out, not much. However, more problems in the industry abound, and we will take a good look at those...

Pump and Dump

It’s tempting to think we can turn a shiny penny out of jumping on the bandwagon, but the reality is often more sobering. Projects elaborately advertise themselves, staging quick buy-ins in a bid to “pump” the value of a project before the organizers discreetly exit their positions, bagging a tidy profit and leaving customers with nearly worthless tokens.

But the sugar rush is often kept in check by the all-knowing doctor – the decentralized exchange. By applying circuit breakers which block trading of assets which progress significantly over short periods of time, Pump and Dump groups are curbed to an extent.

Price Manipulation and Dubious Custodians

It sounds like a sweet deal. You let the boffins known as crypto exchanges administer all the necessary checks and balances to ensure a fair trading ecosystem. Still, whales often run amock. With so much of the global stock concentrated into the hands of so few and often dubious organizations, crypto exchanges have been over-complacent. This is among the main reasons for the tattery state of the global ecosystem with digital gold.

The lack of a clear correlation between fiat and crypto tokens with some exchanges is an even more glaring problem that need not only catching up but a proper shakedown. And as if matters weren’t complicated enough, but a fair number of exchanges have lengthy onboarding, high fees, and often delay conversion, which in turn drives dubious outcomes and discrepancies between the FIAT money invested and the cryptocurrency received.

With the continuous state of uncertainty that shrouds exchanges, no serious institution will be prepared to throw decent investments and signal a shift in the sentiment of mistrust towards cryptocurrencies. It’s the lack of transparency that’s stifling innovation.

Tricky Regulation – Settling Matters in a Heartbeat

Anyone who has run a business across economical unions and countries, even continents, has dreaded local regulations. They tend to be pesky and self-centred. Now, crypto exchanges are somewhat the same. They seldom consider important aspects of dealing with crypto assets and fiat currencies and how this changes across jurisdictions. Few projects are designed to consider the legal downsides that come from facilitating trade without offering firm legal advice to help investors plan ahead.

Security – What We Truly Need

Whether you follow the industry up close or have just been toying with the idea of investing one stark problem remains: the overall vulnerability of crypto exchanges. This begs the question of how seriously does the industry take security.

Transfers are instantaneous and anonymous, but this has not served the purpose of eliminating an established financial order spurred by greed. Instead, the incidence of theft and makeshift heists has continued to increase, so much that bastions of traditional innovation have issued warnings. The Bank of Japan (BoJ) discouraged investment in digital cryptocurrencies. South Korea had assumed a similar stance following yet another impertinent theft involving one of the country’s flagship operators, Bithumb.

Any future decentralized exchange need not only do away with the slow onboarding and hefty fees. It ought to provide legal counsel and manage investments well. Abrupt fluctuations in pricing ought to be curbed much like mainstream exchanges do. Whales have to be scrutinized so as to ensure that they are not misleading rank-and-file investors.

Analyses and community opinion should pave the way towards a future where everything is more transparent. And above all else, hackers should be kept at bay. It’s a tall order, indeed. Mustering up enough grassroots support is often difficult and most likely pointless. However, harnessing popular sentiment into well-designed solutions, such as the Sentinel Protocol, isn’t.

Exchanges shouldn’t be over-complacent and try to draw the line after they have completed a few quick transactions. Nobody needs that. What’s necessary are custodians of the crypto industry. Agents who will actively seek to educate investors and warn them against foul play.

The Sweetheart of Thugs

Cryptocurrencies have become the darling of criminally-minded organizations. LeFigaro's print edition, a French daily, published a report on how Bitcoin was used to help criminals trade arms, drugs, and even traffic humans. The revelations shocked no-one. When Bitcoin became less comfortable, criminals started using Monero and they continued to bite deep in the Asian exchanges, hightailing with millions of dollars worth of cryptocurrency.

The complacency we have had with under-the-table activities taking place in plain sight has been daunting. Is it surprising, though? It’s a sort of finance, and in the evident lack of a regulatory body, little surprise can be elicited from listless bystanders. What the industry needs to change is how any future entrant in the field is to spearhead a push towards integrity.

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Streamity looks to eliminate these challenges faced by cryptocurrencies by creating a powerful cryptocurrency exchange that incorporates a broad range of services including: trading, exchanging & learning. The key element of the Streamity project is the StreamDesk aggregator, which ensures exchange of cryptocurrencies for fiat currencies using smart contracts. The prototype is available on-line & represents our core concept. You are welcome to participate in our ongoing sale, which is taking place over the next 18 days.

3 reasons why Streamity believes you will benefit from having STM tokens:

1. StreamDesk is a fair & transparent exchange, allowing the exchange of cryptocurrencies for fiat currencies without intermediaries. There will be a clear display of relevant market data & its fees coupled with a fair, transparent, & secure exchange.
2. StreamDesk ensures secure & efficient exchange of cryptocurrencies by aggregating market capitalization & price data from major crypto exchanges eliminating for-profit manipulation of exchange rates.
3. Streamity will include news, analysis, educational & investment resources, which will add value to investors.

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