We receive often the question : How is Jarvis different from other exchanges? The market is full of exchanges, and new ones are popping up every day…
Since the exchange market is as diverse as the smartphone market (they all look the same), people have become accustomed to this sameness and have forgotten that we can actually do things differently. Jarvis is neither just another exchange, nor it is just another wallet… we are innovating and redesigning the user-experience of personal finance, leveraging from multiple technologies stack…
What is an exchange value proposition?
Looking at most exchange ICO whitepapers, their value proposition is pretty much the same: lower fees; wide array of crypto-assets: security of funds; “user-friendly” (copy-cat) trading interface; deep liquidity. Most exchanges proudly compete on that…
Building an exchange is actually quite simple; you can buy one for few thousand dollars; you add some TradingView charts; you plug it into a liquidity provider; you buy an estonian license; and finally you create an ERC20 token in order to pay fees with it, add a buy-back program to keep the token steady and attractive for buyers, and voilà!
In the near future, most exchanges will compete on lowering the fees to acquire market shares: in an industry where everything looks the same, customers will go where it cost less for having the same service or will only use market leaders or upcoming big fish like Bakkt. Decentralized and semi-decentralized exchanges could grab some market shares, but most users will still prefer the experience on a centralized exchange.
When it comes to their token, exchanges do not reinvent the wheel. While some of them offer dividends, such as SpotCoin or Neon, the BNB proven token-economic model is the most used: paying reduced trading fees with a buy-back program to increase scarcity.
Some projects propose new value proposition…
Some project do innovate; DX.exchange allows to trade tokenized stocks; iDap.io provides crypto derivatives and leverage products like Forex; CoinMetro and alike deliver a complete financial ecosystem with copy-trading, debit card, ICO platform etc.
Some of them really innovate and are very refreshing, like Blockchain.io or Neon exchange. And not to forget projects like bZx, dY/dX, Market protocol and many other which allow new exciting product offering like Expo.
Yet, we persistently see how great innovation is overlooked in favor of the well-tested gold standard. Emerging technologies like Decentralized Ledger Technology (DLT), Articifial Intelligence (AI), BigData and open Application Protocol Interface (API) allow to create new paradigm in user experience. These technologies allow to create user-centric platform.
This is why we created Jarvis; Jarvis is a glimpse into the future, and is the foundation of a borderless financial world becoming reality.
DLT and open APIs provides a user-centric and interoperable experience
Imagine the convenience of having a single account, where you can access multiple financial services and opportunities.
Imagine if you could access Saxobanque, Coinbase, Binance, Zopa, Amazon and Betclick value proposition from your Revolut account. It could be like login with Facebook, but here you would login with Revolut.
A plug-n-play user-experience that provides a full freedom… Just plug your Revolut account to the desire service, and access any value proposition in one click, with one single account.
The future of finance is providing this user-centricity, where financial markets, services or products become applications that can be accessed from users wallet. This future looks like Sci-fi but we are already heading to it with trend such as platformization and open banking.
Jarvis leverages from DLT and open APIs allowing users to create their own financial hub and manage their finances while having a full control over their funds and data.
You have to think of Jarvis like an escrow wallet which connects to several partners Apps and Dapps, and to our hybrid exchange. Apps and Dapps allow to access several services and products, while the exchange provides trading on multiple financial markets.
This wallet supports fiat, crypto and tokens such as collectible or digitized assets ranging from stocks to real estate so users can manage all their funds and assets in one place.
The wallet could be used in our Google Chrome widget, in our mobile, web or desktop application.
This allow interoperability in finance. Use cases are unlimited! We wrote a cool article about it.
Imagine that you can deposit Litecoin and access Forex trading from your wallet; you can immediately go on Amazon and buy something with what you just have won; then right after you can plug to a poker application; then buy some stocks after few heads up; you eventually put these stocks into escrow to trigger a collateral credit, and go to spend it in a restaurant with friends.
AI is the new UI
Interoperability of assets and applications is great, but to allow users to make the best of it, it has to be delivered in a easy-to-use user interface. Especially if we are in the conditions of a complex and vast ecosystem — how could users navigate and make the most of all the possibilities?
Navigation bars are boring. Buttons are boring. No one wants to struggle through various menus, submenus, etc.
Whenever you open an application, you start with an intention, you want to do something and you have to figure out a way to do it.
With Jarvis, you can just write or say your intention…
Let’s say my intention is to open EURUSD chart, in H4 and to add MACD, I would need several clicks. Imagine now if I can write or say “eurusd H4 MACD” and it understands that I want to open an EURUSD chart, on the 4 hours timeframe, and I want to attach an indicator named MACD… Now let’s say I want to change the colors of my chart… right click on the chart, a list of suggested action appears, and I write “color”… it understands I want to change the color of this chart so it proposes me to open a setting panel to change the colors… If I write “share”, or “greg” it will propose me to send this chart to him…
Another great use of AI is how we do use the right click… Imagine the scene: you are on your trading platform, and you make a right click on a chart. A window popup… but with a “suggested list of actions” and a search bar. You write “color” on the search bar, and it suggests you to change the color of your chart. It will work the same way on the mobile, but with press and hold.
Of course, there isn’t need to reinvent the wheel and some UX has stuck around for a reason. Yet, innovation is the key to provide us live the lifestyle of seamless finance and future tech.
A lot more…
There is still a lot to say about Jarvis and its AI. By being fed with users data, it could reduce their mistakes, improve their decisions, and automates their tasks. There are also many other differenciating facts about Jarvis, such as our developer friendly interface, which allows developers to build extensions to enhance and enrich our application. Or the importance of Jarvis for Apps and Dapps… But this will be the topic of another article… so stay tuned!
Pascal.
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⛔ Risk Warning: Investing in digital financial assets involves a high degree of risk and volatility and is not suitable for all investors; do not risk more money than you can afford to lose. Please consult an independent professional financial or legal advisor to make sure the product is right for you.
⛔ Disclaimer: This article contains text, data, graphics, photographs, illustrations and information (“Information”) connected with Jarvis International and/or other entities part of the Jarvis group ( “Jarvis”). Jarvis attempts to ensure Information is accurate, however Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. The publication of this article does not represent solicitation by Jarvis of buying the token “Jarvis Reward Token” and is not to be considered as a recommendation by Jarvis as to the suitability of any investment, if any, herein described. No action should be taken or omitted to be taken in reliance upon Information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.
