Anyone who is remotely connected to the crypto and altcoin community has heard of the new player in town, Waves. But just in case you may have been living under a rock somewhere on Mars, and failed to notice the staggering amount of Bitcoin (over 29 thousand Bitcoins) Waves was able to gather during its ICO period, here’s what’s you need to know about Waves:
Waves plan to bring Fiat currencies and Blockchain technology together in an almost poetic symbiosis, taking the advantages of the blockchain, such as speed, low fees and commodity to the world of mainstream finance.
Anyone will be able to deposit fiat currencies (EUR, USD, CNY) through fiat gateways present in the Waves platform, such as payment providers, convert them to fiat tokens, transfer them over the blockchain in a matter of seconds. Those same fiat tokens available for withdrawal, according to the value and currency the token represents, on the other side of the ocean or just a block away (no pun intended).
Waves is a platform for the average user who may want to make a worldwide money transfer, as well as for corporations or startups who may want to create and manage their assets or crowdfunding campaigns outside of a centralized broker system, which often imposes endless limitations. Decentralized and asset-to-asset exchange will also be possible within the Waves platform.
Waves plans on being a KYC and AML (Know your customer & Anti-Money Laundering) compliant platform, which may seem contradictory when one considers that it is decentralized asset exchange at the same time. Fiat gateways will be issuing fiat tokens by themselves on the platform, and they have all needed licenses already in hand, KYC will be done by users directly on the gateways also. The KYC & ALM implementation may seem to go against the premise of which bitcoin was
Waves Roadmap
The Waves Team recently released its roadmap. Security appears to be the keyword for the Waves team, as they are trying to implement new features to ensure no exploits or security holes can be found in the future.
The number one priority for the Waves Platform Team is Public full nodes, which are set to be released in the coming weeks, allowing users to be part of the network and to earn rewards by staking their Waves balance.
Waves Secure Partnership With Mycelium
Waves will not be sailing alone, with multiple partnerships planned and one of them made public. Waves will walk hand in hand with a successful company in the Blockchain scene. Mycelium, a widely used cryptocurrency wallet provider, is the first Partnership announced by Waves, which was made public during the ICO period. Both companies seem to share the vision of a fiat/blockchain implementation. Details regarding this partnership have been released, Martin MX, Head community manager of the Waves project, said:
Waves tokens will be supported across the range of Mycelium’s applications and devices, including the Mycelium Card – hardware wallets in the regular ISO ID1 size with wireless units, keypads, rechargeable batteries and built-in displays. Each card is the wallet and POS terminal in one. Cards perform peer-to-peer connections that will later upgrade to full-scale mesh networking. Besides prominent bitcoin and fiat wallet usage, cards are perfect for loyalty programs, airline miles’ collection, etc. This is a fantastic opportunity for Waves to be adopted across Mycelium’s large and rapidly-expanding user base.
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