The world changes — an so does the finance. A Counos Platform review
At first every new technology is a kingdom of geeks. It appeals to the strange freaks, to the minority. The rest is looking with suspicion, laughing and gossiping. But as strange as it appears at first, soon everyone starts to use the new hot tech. In no time it becomes strange not to use it — and progress happens.
We’ve seen this scenario happen again and again throughout history. Sometimes it is straightforward and easy to see (it’s hard to miss a running steam locomotive), other times we see it when it’s already part of our lives.
One such field, that affects the lives of most of us, can’t be seen and is rarely understood is finance. It’s a field as old as the human race itself, always around, always shaping our future.
For a very long part of our history, it was the appeal of the the strongest parts of our society — states, big companies, wealthy people. In the last couple of years though, interesting things started to happen in this domain. A highly convervative field started to turn its head to the world. It wasn’t without pressure, but something changed. Almost all this pressure is somehow related to blockchain and descentralization, and to projects very much alike Counos Platform — that we’ll try to review today.
Today we’ll review the wide range of services of Counos Platform. It offers so many different things that at start it’s hard to get a hold of what it really is, but with a little bit of research, we discovered a powerful set of peer to peer financial instruments.
So, the services that we’ll cover are:
- escrow
- decentralized exchange
- payment gateway
- securitization of digital assets
Escrow
First and foremost, the escrow service. A quick explanation for those of you who don’t know what an escrow is in general. Imagine that a stranger approaches you and offers to build a website. You’re interested in his services, you were looking for somebody that has this kind of skills. The problem is that you don’t know the guy, haven’t seen any kind of work he’s done. In other words, you don’t trust him. In a situation like this, escrow is of great help. It will work as a trust guarantee between you and that person. The money will stay in escrow until all the conditions of your agreement are met. Especially in an environment such as crypto space, where the transactions are irreversible — this kind of tool is of great help.
There are a few advantages that puts the escrow services from Counos on top of the list. Number one — the company is registered in Switzerland and the escrow uses the European Crypto Wallet License from Estonia. Their website contains all the information needed to check them. It’s trustworthy. Number two-it’s easily done. Counos escrow is a time-efficient alternative to a contract. It uses a technology called multisig Wallet (A Multisignature Wallet, or simply referred to as a MultiSig wallet, is a type of electronic wallet that requires more than just one signature, or private key, in order to be accessed.)More on how a multisig wallet works — here.
Hopefully you didn’t have any bad experiences in your collaborations, but you should now that enforcing a contract through court takes a lot of time and energy. Better safe than sorry. Use the escrow.
Decentralized exchange
Remember escrow? Decentralized exchange operates as an escrow. You want to sell some BTC? No problem, Counos will put you in touch with someone who wants to buy some. The difference from a centralized exchange (like Binance, coinbase and others) is that Counos decentralized exchange doesn’t keep you funds on the platform (which can bring significant risks). It uses a Multisig Wallet with 3 private keys: one for you, one for the other person involved in the transaction, and one for the Escrow agent that makes sure that both parties keep their word and send the funds. Two out of 3 parties just can release the asset.Basically it just puts people with different needs in touch, ensuring the transactions are secured and that everyone will get what they want. In an ideal world all exchanges would be descentralized. It’s not that bad though, we still got Counos.
Payment Gateway
If not today, tomorrow. If not tomorrow, very soon. People will pay with cryptocurrencies. Of course not all of them, but crypto payments will be a significant player. And when we scale significant to the whole world, that’s a lot of money. So, being an early adopter may pay dividends in the long term.
CounosPaymentGateway follows all technical and security best practices of a payment processor. That means that the transactions are secured, fast, and easy to use for the customers. Especially ease of use is pretty important. There are a lot of projects that forget that their users are not developers. CounosPayments is not one of them.
Securitization of digital assets
Securitization is the process of transforming a digital asset into a manageable and investable entity. Owning an SaaS business? Counos can transform it into a project where hundreds of thousands more can invest. It helps good projects bring liquidity and developing. More specifically, what they can do is this:
- Use Counos Platform (Counos.io (https://www.counos.io/)) to make digital assets fungible and manageable. If you have a project in the field of digital assets, Counos can help your project become fully bankable and investable. Becoming bankable is considered a major milestone for every business.
• Counos Platform can make any ICO, token, crypto asset and portfolio investable, fully bankable and fungible in a Swiss Security (Swiss ISIN).
For more on this, click this link.
Quite a run, was’t it? To wrap it up — Counos is a great set of tools for those who know what to do with them. Communication might be better, and it lacks a unifying factor in my opinion — but it’s much easier to communicate than to create technical stuff. This will take care of itself in time. Kudos to the team, and looking forward to your feedback in the commentaries.
For more information about the project follow this links:
