It only keeps getting better for Bitshares.
The advantage to the blockchains that @dan created is they offer real world performance. There is no hype with regards to the capabilities of the netwrorks. Unlike other blockchains that are dealing with scaling issues, we see none of this with @dan's blockchains.
According to blocktivity, STEEM and Bitshares process the most transactions per day. The most recent update has those two blockhcain processing 2.4M transactions in the last 24 hours.
What is amazing is there are some naysayers out there who believe that Bitshares is a passe blockchain. They want to conclude that, since it was @dan's first and is 5 years old, it is a relic. The number of transactions tell a different story. Plus, @stan is very open about the "bench" team that is looking at creating a hybrid chain with EOS which will allow for institutional business to be moved over.
Recently, we saw a nice move up in the price of Bitshares. While pricing action is often a mystery or based upon fluff, in this instance we see real world activity.
One of the companies that is aiding in this is BitSpark. This is a money transaction company that operates in the Far East. Originally they started on Bitcoin, using that currency for transactions. However, they decided to make a switch last year because of the limitations of that network.
The firm, which offers its remittance service in the Asia-Pacific region, switched in September 2017 to BitShares to run its business. Bitshares is an open-source, decentralized platform that issues its own cryptocurrency; with the ticker BTS.
The CEO of that company offered up some explanation as to why they made the change.
According to the Bitspark CEO, George Harrap, bitcoin will be replaced by better, faster and cheaper cryptos in the future due to bitcoin’s volatility.
Harrap believes that it’s always best to choose the better alternative and if there’s something better than bitcoin, it will become the digital currency of choice for customers.
There it is in simple language. According to this CEO, Bitshares is a "better alternative" to Bitcoin for money transfer. This is a company that boasts over 5,000 customers including 12 money-transfer companies.
This is not fluff. Here is an individual who is responsible for and looking to grow a business. From what I can see, BitSpark it trying to take market share from the likes of Western Union and Moneygram. The cost of sending money, with these companies, is expensive. BitSpark is taking advantage of one of the main benefits of cryptocurrency...lower transaction costs.
Another interesting aspect to this is the idea of Bitshares Market Pegged Assets. One of the unique offering of Bitshares is that it has assets that are pegged to a fiat currency like the USD. Cryptocurrency is often railed for being to volatile to be used as a medium of exchange. Certainly the idea of sending $200 back home is less appealing if it is $180 because the price of the currency dropped 10% during the process. Bitshares eliminates this by having people use the MPA which does not have the volatility.
The company, which has used bitcoin since its inception, has “realized” that the currency has limitations and is hampering its business. Amongst the shortcomings, are bitcoin’s infamous volatility, delayed transaction times and liquidity, with some of the firm’s local partners – in countries like Sri Lanka and Cambodia – facing difficulty in converting crypto into their local fiat.
In contrast, Bitshares faces a decreased risk of devaluation of assets caused by the price fluctuation due to the nature of its stable “bitAssets” token – that can be issued by its users and is pegged to a real-world currency, such as the USD.
Furthermore, Bitshares claims to back the bitAssets with 200 percent or more of their value supported by its native token, the BTS, which serves as collateral in a smart contract-based loan system.
Using the BitUSD as an example means that one can send money without the risk of volatility while also being able to convert it into USD. This eliminates a great deal of the hassle associated with other currencies when trying to convert them back.
According to this idea, using Bitshares to move money around only makes sense.
Personally, I have a great belief in what is taking place on the Bitshares blockchain. Like STEEM, there is a lot of development that is going to be attractive to those who are actually setting up businesses. We are now at the point where companies are looking for the reliability in a blockchain. Promises, forecasts, and ideas of how we are going to scale are not what these people want to hear. The prefer "Yes we can do that and here is the proof".
Bitshares offers that.
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