The cryptomarket today
Much has been said about the death of Initial Coin Offering, but according to the father of the ICO standard (ERC20), Fabian Vogelsteller, ICO and Bitcoin, they are more than alive, they are waiting for a good time for this economy, despite the fact that bad times have been seen in the last year and the reduction of chip sales by 80%, the Bitcoin is still a market that does not have a financial crisis. The ICOs are not dead and they are still superior to the traditional financing, in fact the one that continues to grow only shows that the ICOs are an international market. However, it is necessary to talk about tokens, in this economy there are no issuers, custodies or any infrastructure that works, in the words of Vogelsteller, it is necessary to create zero-margin public services that allow an economy in abundance to control this technology, as well, it is necessary to create true international capital market and a better distribution of that capital, it will open financing requests, a wave of innovation that allows the measurement and incentive of the objectives. This is a self-cleaning process, and everything indicates a rebound for the recovery of cryptomoney prices.
In less encouraging news for the Bitcoin market; Hester Peirce, commissioner of the US Securities and Exchange Commission (SEC) and Brian Quintez of the Commodity Futures Trading Commission, have given statements that do not give high expectations that the cryptocurrency enters the game of the SEC and the CFTC, as well as their positions with reference to future contracts and exchange funds with Bitcoin. Pierce expressed his concern about the approach with the cryptocurrency, in his opinion it needs a solid base to support any commercial action, it is a non-derecognized market, to enter the stock market, the SEC must do an exhaustive investigation to deeper compression. On the other hand, Brian Quintez, expressed different opinions on the subject, such as the suggestion that the Bitcoin market requires a jurisdiction to mitigate fraud. However, both gave a time called “review period” for the creation of a self-certification system for exchanges, and even spoke of the collaboration of agencies to achieve the approval of the list.
For many it is a surprise that on February 20, the cryptocurrency transaction mediation platform, Binance, launched its decentralized Binance DEX platform. For many this is a dream, the decentralization of this economy, a paradox in itself. Binance DEX is a test model in the public network, unlike its usual platform, this is not controlled by the company, DEX gives users in full control of their data and their keys, this platform is within the site of Binance, where customers create banknotes and exchange by themselves. With DEX the person enjoys full control of their cryptographic funds and connects directly to a commercial network providing personal information. The CEO of Binance, Changpeng Zhao, has come on notice that in his view decentralization is not safe, each person exchanges at his own risk, so there are certain fees and list review that makes it a not completely decentralized service, there are certain filters. This platform will serve as a model and test for the decentralization of Bitcoin transactions.
