Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.
A new French exchange is willing to protect their clients’ funds by keeping nearly all their funds in cold storage and sticking to strict rules to ensure that they stay on the right side of the law.
A newly announced exchange — Blockchain.io — is prioritizing regulatory compliance to make sure that the funds of their users are safe from governmental seizures and freezing. As a way of ensuring that the company will be conform with both current and future regulation, the exchange is willing to keep audited records and only list selected cryptocurrencies and tokens.
Another clear priority for the company is computer security. The project is led by Paymium, a European Bitcoin exchange active since 2011, and this experience is making the company confident enough to promise DDoS resistance, high throughput and minimal downtime. Another promise is that the platform will be kept free from “technical debt.”
Keeping the exchange free from technical debt is equivalent to not adding any new features, cryptocurrencies or tokens without having them thoroughly audited first. Another security measure that the company is willing to take is to keep 98 percent of the funds in cold storage.
The cold storage will be a multisignature wallet, the keys of which will be kept in different locations to reduce the risk of unauthorized access to the funds.
Strict Listing Eligibility Criteria
The listing and ICO-assistance criteria adopted by Blockchain.io go well beyond simple regulatory compliance. The projects are also required to have experienced teams to be considered eligible for listing or help. The community also votes on the projects that met all the aforementioned requirements before they are approved. All of this is meant to ensure that only high-quality and viable projects make it.
The ICOs that are helped by Blockchain.io will be offered legal, financial and marketing expertise. The company will structure the whole ICO on behalf of the team in exchange for a fee on the raised funds. Such a collaboration is meant to leave the team to develop the products or services that they are intending to create instead of being busy trying to get financing and staying regulatory compliant.
The exchange is meant for both experienced and new users. For this reason, both the most straightforward and most complex trading order types will be featured on the platform. Also, there are plans to integrate a peer-to-peer (p2p) lending system based on a centralized fund managed and maintained by the company. Such transactions will be subject to interest rates based on supply and demand.
The white paper also makes it clear that the platform will feature the positive aspects of both centralized trading and decentralized settlements. The reason why the system has been designed this way was is to make sure that the exchange users won’t experience privacy, cost and scalability issues.
A Busy Exchange From the Start
The project is led by a European Bitcoin exchange active since 2011 — Paymium. Paymium has also been defined by Fintank as the first European regulation-compliant Bitcoin exchange. All of that boils down to a lot of expertise that the exchange will have since day one.
Moreover, expertise isn’t the only thing that Paymium is willing to transfer to Blockchain.io. The old exchange claims to have over 170.000 registered users, and those will automatically get a Blockchain.io account alongside incentives to use it.
The Blockchain.io token sale will start on Sept. 27, and when it ends at the end of October, the exchange will begin its operation right after in November.