WAVES and Mycelium join forces
Monday 09 May 2016
2.0 tokens platform WAVES and bitcoin wallet Mycelium are collaborating to enable fiat transfers over the blockchain.
Blockchain tech is amazing, but it's meaningless without adoption. Network effect counts: it's why bitcoin is still #1 despite the fact that faster and arguably technically better protocols exist. So it's extremely cool that WAVES and Mycelium have joined forces to allow users to shift money around using the blockchain, through Mycelium's very user-friendly and popular wallet.
Mycelium represents a highly significant and strategic partnership for WAVES - and more are in the pipeline
WAVES: fiat on the blockchain
WAVES and Mycelium are both in the process of running crowdfunding campaigns. WAVES, which has raised almost $4 million to date, has an emphasis on solving real-world problems with blockchain technology. Core to the platform is the ability to issue, transfer, and exchange custom blockchain tokens – including those tied to national currencies through market-making services provided by fiat gateways. Besides liquidity provision and exchange services, gateways will also manage AML/KYC policies, so that decentralised blockchain value transfers are fully compliant. Fiat-equivalent tokens will be used for anything from remission to decentralised crowdfunding.
Mycelium: targeting mass adoption
Mycelium, meanwhile, is raising money for a major upgrade. The bitcoin wallet software already boasts more than 200,000 users. (Anecdotally, something like 10% of bitcoin transactions pass through Mycelium wallets - a figure I can't verify but that sounds entirely plausible.) The upgrade will see the integration of WAVES fiat assets, enabling the transfer of national currencies with all the speed, efficiency and decentralisation that blockchain technology brings. It will also see third-party developers and blockchains adding wide-ranging new functionality to the wallet, with the aim of mass-market adoption in the fiat world.
Brave new world
We're entering a new era of blockchain technology and adoption. Banks and big financial players are cottoning onto the benefits of distributed ledgers. Unfortunately, though, a huge amount of research and resources are being thrown at permissioned blockchains, about which I have significant concerns. WAVES offers an open chain that is fit for purpose for the needs of 21st century financial institutions. The fact that the project is building such strategic partnerships even before launch - with more to be announced in due course - is extremely positive.
WAVES is currently in development, with testnet already operational. The crowdfunding campaign will run until 31 May, with the launch of the platform set for summer 2016. You can find out more about Mycelium’s crowdfunder and wallet upgrades here, and about the WAVES ICO and platform here.
comments powered by Disqus