Introduction
In my beginning days of exploring the opportunities in cryptocurrency, i came across a p2p exchange here in my country. They had incredibly low transaction rates and a picture of previous transactions carried out between users, but all this was a fake. I was defrauded of about $62 which i transferred to the account of the seller but never got any bitcoin.
Don't be so quick to judge my actions then, i know a lot better now, virtually every crypto-newbie, crypto-enthusiast or crypto-critic has at some point in his/her adventures in the cryptocurrency world had an awkward experience with peer-to peer exchanges. Despite the increasing numbers of peer-to-peer exchanges ( some of them are scams and not safe), there is still an element missing. If you have used Remitano, LocalBitcoins or Changelly before, you would have had that feeling of insecurity . On some P2P exchanges, users set the ask or bid price and this prices can be exorbitant.
Although all these exchanges are trying their best to secure their platform and ensure safe trades are taken, we still have that feeling of mistrust. How can this be solved? Smart Contracts.
Why Smart contracts?
Smart contracts are digitally encrypted contracts that do not execute until a certain negotiation demands are met. For example, Charlie wants to buy an iTunes gift card online for $1200 . How would a smart contract facilitate trust between the two parties and ensure that there is no fraudulent activity?
Through a smart contract, Charlie and the buyer could enter into a smart contract that will only be triggered when the iTunes gift card and the payment has been uploaded to the smart contract. Once Charlie receives the gift card from the smart contract, he will affirm that he has received the package and immediately the smart contract releases the payment to the seller. The best part of this is that it eliminates middlemen or intermediaries, this facilitates trust in the financial market. This is also possible in the crypto-financial space. But why isn't any exchange using this technology?
Streamity would be the first platform to use smart contracts to ensure the safety of peer-to-peer transactions.
About Streamity
Streamity is a multi-layered platform that is designed to provide seamless and secure services for its users. It is designed for optimum scalability. Partnering with blockchain projects like EOS and NEM, Streamity is determined to provide the best main user service with its main component, StreamDesk.
StreamDesk is a P2P exchange that aims to use smart contracts to allow a secure and fast way of buying and selling fiat currency and cryptocurrency. This means i can purchase any cryptocurrency using fiat at any time and any where at a fair market price andvoid of intermediaries.
How would this smart contract transactions occur? Use-Case 1: Charlie wants to buy ripple from Mark who he met online. Instead of assuming fake trust,they enter into a smart contract on Streamdesk. The transaction will be triggered once the smart contract receives the XRP from Mark and Dollar from Charlie. It will proceed to swap the assets between the parties involved. Everyone goes home happy. The end.
StreamDesk Alpha version has been released, Click to check it out: Streamdesk Alpha
An example of what streamdesk would look like is seen below:
Streamdesk already has payment systems like Yandex Money and PayPal integrated into its platform. Webmoney, Skrill, Visa, MasterCard and a host of others are coming soon. This will ensure that you can transact easily and safely from any part of the world.
This by all standards, is far better then ALL peer-to-peer exchanges because they offer:
- Secure Transactions using smart contracts
- Fair market price which is updated hourly from market exchanges.
- Freedom to transact between Fiat and cryptocurrency i.e You can execute Fiat to cryptocurrency transactions and cryptocurrency to cryptocurrency transactions. By doing this, Streamity has made it easier and cheaper for anyone to invest in cryptocurrency from any part of the world.
Streamity platform would also include other portals on the website for information and analysis, Investment and Education. this would exist as separate business environments. In my opinion, they should be called: StreamLive, StreamFinance and StreamPen respectively. These portals are scheduled to be launched later this year, you can take a look at the roadmap below:
STM tokens and Crowdsale
STM tokens are the heart of the Streamity platform. Apparently, if you possess a minimum of 1250 STM on the platform, you are entitled to lower commission rates. Once listed on the exchanges, STM would be available for purchase and its value would increase with an increase in demand on the streamity platform ( It is just a simple case of demand and price relationship).
As at the publishing of this post, the second phase of the crowdsale just began with 20% discount off the price and it will last till July 22nd. Click here to participate.
Streamity Team
The team at streamity is made up if highly skilled developers and expert advisers and partners. Check it out: Streamity Team
Conclusion
Streamity is a power-packed platform with so much to offer . Not only will they change the P2P exchange industry massively, they will be major contenders in the cryptocurrency service industy once their market analysis, investment and educational center launches fully.
Streamity, your one-stop shop for anything cryptocurrency.
Disclaimer: I am not a financial adviser but this should be treated as an investment advise. If you do not see the urgent need in investing in STM tokens through the crowd sale that just begun,maybe cryptocurrency investment is not just your thing, try farming. You can also partake of the airdrop that is on going, just click here. I choose to be held liable if anything goes wrong with your investment.
Do you need more information and resources on what you are about to invest in, check out their :
