Money never sleeps, and so does Blockchain. Progress never stops, everything is evolving, and Jarvis is no exception. I am happy to introduce in this article, how we have evolved in 2019 and which new direction we are taking.
What we wanted to do
First, we had dreams and a vision, but from a technical and operational standpoint, we were lacking a “clear” plan. We wrote our whitepaper and our first article a century ago (1 day equal a year in the blockchain world), we were dreaming about an interoperable platform to access hundreds of financial services that did not really exist by this time. The blockchain ecosystem itself was “immature” and still very hard to access.
We planned to do one project with the premise of bringing blockchain technology to the masses. We had described a unified ecosystem in our WP, comprising of a wallet, meant to be a user-friendly gateway for the crypto world, to easily manage one’s portfolio and identity in order to access hundreds of services provided by Dapps, and an exchange, meant to provide access to all the financial markets, in both a centralized and semi-decentralized way.
By 2019, while the crypto market did not progress significantly, blockchain applications and protocols did. Tokenless decentralized applications and protocols started to be mature enough to gain traction and drafted a new paradigm, the basis of a real decentralized financial ecosystem (DeFi). This ecosystem is getting bigger everyday, in terms of value, users, and applications; thanks to the composability of its different protocols.
A bunch of crazy and passionate developers are recreating the entire financial system and its complexity, on Ethereum: dex aggregator, futures and options on crypto, synthetic assets, insurance, lending and borrowing, etc. And another bunch of crazier people are building new kind of derivatives and unthinkable products (lottery without loss, gas-less DAI, etc.)
These folks are building protocols and applications built on top of that, combining protocols like pieces of lego bricks to create an incredible products.
Both the Jarvis wallet and exchange are such kind of applications, leveraging from other protocols, to provide a crazy user experience. But they pursue different goals, and target different users, yet compatible, but still…different.
The thesis which states: “blockchain will not overtake traditional finance, but will create a new financial paradigm,” start to become a reality. A parallel financial system open to everyone is rising and could worth billions of DAI in future. Everyone who bet in 2017 and 18 on this, can now say: I told you so!
The wallet is meant to be the Revolut of this new decentralized finance, and the exchange its Interactive Broker.
That is one of the reasons we decided to separate them. Two different websites, branding, name, logo, and soon whitepaper are born from this scission. Welcome to the Jarvis Network and the Jarvis Exchange.
Value proposition
Jarvis Exchange — a broker smart contract ecosystem which allows accessing any financial market.
Jarvis Exchange is both a protocol and an interface which allows anyone in the world to access any financial market from a cryptocurrency deposit and through a decentralized network of market makers. It will also allow anyone to become a market maker to participate in the network (read our previous article). The protocol will be governed by a DAO, whom JRT holders will be the participants. Eventually, the API allows anyone to build an interface on the top of it (we will also have our famous trading platform, Jarvis Trader, connected to the exchange).
Doing so, Jarvis Exchange finds its place in DeFi movement as it allows to trade in a decentralised and non-custodial way on financial markets.
Building a protocol adds more value and more scalability and will aim at creating the largest broker in the world, without any customers, trading platform, support or sales team, etc.
But to trade on this protocol users will need access to cryptocurrency.
Jarvis Network — a wallet for managing all your digital assets from payments to lending, investing, gaming and so on.
Jarvis Network is the easiest gateway to decentralized finance and to crypto; users can easily. It is a smart contract based wallet that leverages from different technologies (ENS, meta-transaction, personal multi-signature wallet, synthetic assets, exchange aggregator, data encryption, data-locker, etc.) and different protocols (like UniversalLogin for the easiest keys and identity management, UMA for synthetic assets, Compound for lending, BZX for margin trading, etc.) The wallet also allows to buy and sell cryptocurrencies using fiat to easily onboard newcomers.
Both projects will have a different user base (of course some of them will cross). The users of the exchange will be mainly traders (FX, Crypto, CFD). While the wallet can be used by a different kind of people who might be far from trading. But both aim to universalize and democratize the access to financial education and opportunity, regardless of your country, origins, and financial situation.
For now, we keep the name Jarvis (yes it also bothers us that another project has a similar name), so maybe down the line we will come up with a different name that will be more “fitting”. We already have started to implement new logos; Jarvis Exchange will keep our old one(as it represents both a financial market and a middle finger to the traditional finance), but. Jarvis Network will introduce a new logo, matching the concept of DeFi and Jarvis: a “lego brick” as Jarvis Network is a platform on top of which you add services and applications (if you remember we have already used a similar schematics when we present a new partnership).
We hope this article shed some light on what is going on with the project in the grand scheme of things (for more detail on the micro-level development you can check our weekly newsletters). Feel free to ask us questions on any social media, and see you in the next article.
Vsevolod.
The possibilities are limitless
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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.
