Blockchain technology has become a revolutionizing idea. The technology has devised new ways on how we send and receive digital assets. Though the technology is new, it has quickly gained momentum. Companies, worth billions of dollars, have been formed because of this technology. One such company is OPSkins, a world-class dealer in trading of in-game virtual assets. The company has experienced exponential growth under the leadership of its executives such as Malcolm CasSelle who is the company’s CIO.
Due to the emerging issues being experienced in blockchain technology, OPSkins have recently launched Worldwide Asset eXchange (WAX). WAX is a P2P online trading platform for virtual assets. What sets it apart from other virtual trading platforms is that it uses blockchain technology combined with decentralized smart contracts. The combination of these two technologies helps in solving two problems namely fraud and fragmentation. The trading of virtual assets is made more effective and secure.
Under the presidency of Malcolm CasSelle, WAX’s aim is to solve the various challenges experienced in blockchain technology such as language barriers, modes of processing, and overcoming some of the restrictions in different countries. WAX intends to solve these challenges by creating a blockchain widget in games that will enable users to buy and sell their assets without having to leave the screens of their games.
The WAX innovation also aims at removing the Forex problem that has plagued blockchain users. WAX intends to come up with a token that will be universally accepted. This token will help in increasing the earning of gamers as there will be no need of middlemen when transacting. Malcolm CasSelle, who is computer science a graduate of the Massachusetts Institute of Technology and Stanford University, has exhibited confidence in the innovation the WAX. He notes that WAX Token can be used as a store of value and smart contracts when renting, buying, and selling.
WAX’s technology helps in eliminating the fraud problem by removing intermediaries. Fraud has been a problem in blockchain technology as sometimes the deliveries are not done, or assets are received when they are incomplete. This problem is solved through decentralization; the smart contracts are decentralized which guarantees delivery.
Find out more about Malcolm CasSelle: https://twitter.com/malcolmcasselle?lang=en