Source: Bits Online, originally published on .
Cryptocurrency has, since the beginning, been watched with a skeptical eye among status quo financial players. These are people who know their positions of authority and power could be threatened by this relatively new technological innovation.
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Crowdsales, in particular, have probably been the most scrutinized element of cryptocurrencies — with regulatory bodies all over the world taking issue with this decentralized and mostly deregulated way of raising capital.
QuickX is regulatory busybody approved
Thus, at this time you’ll be hard-pressed to find token sales that have been green-lighted by an establishment player. This is what makes QuickX’s token sale so unique as it has the backing of former Malta’s finance minister, John Dalli.
While the tides have been turning lately, with governments slowly come around to the idea of cryptocurrency, there’s still a ways to go before the fledgling tech is accepted everywhere.
With this in mind, it’s not hard to see how this official sponsorship from a former regulatory official provides QuickX with unprecedented prestige and added credibility. Furthermore, given that Dalli’s former job was basically as a busybody — onboarding him to their advisory board was an impressive feat to say the least.
Additionally, the significance of Dalli’s presence on QuickX’s advisory board cannot be understated as it could allow the startup to obtain unequaled access to government regulators — minimizing regulatory uncertainty for the company.
Mainstream Crypto is QuickX’s Mission
QuickX is a blockchain-based project that is hoping to bring the benefits of crypto to the everyday person. This way, they can become a catalyst to mainstream outward adoption of the technology.
Of course, to do this, they need to eliminate points of friction that might discourage the use of cryptocurrency among newcomers and expanded use among current “hodlers.”
QuickX is attempting to do this by improving what they consider key problem areas that currently hinder mainstream acceptance of blockchain-based projects: slow transaction times, high transaction costs, limited scalability, and liquidity problems.
The liquidity problems mostly stem from the fact that converting crypto to other currencies is currently an inconvenient, multi-step process. QuickX claims that, with its platform, converting cryptocurrency becomes as easy as a click of a button.
QuickX is a novel protocol designed specifically to cure the many fatal flaws that are hindering the mass adoption of Cryptocurrencies today. It performs transactions off the chain for same Blockchain assets and utilizes pooling facilitators who supply liquidity for cross chain transfers of crypto assets.
Through this solution, it claims to accelerate the transaction speed “greatly,” and hopes to eliminate the interoperability problem between different cryptocurrencies. In addition, it relieves users of high transaction fees and also solves the issue of scalability — likely the biggest obstacle to mainstream adoption.
Image via QuickX
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