Cryptocurrency as an anti-establishment reaction
The introduction of cryptocurrency can be traced to a period just after the world saw the crippling effects of a global economic crisis, with multiple countries across the world facing recession and economic contraction, destabilizing economies, causing unemployment and widespread strife.
Many suggest that Bitcoin’s birth was directly related to this, with the cryptic bail-out reference in its genesis block provided a point of reference. In the writings of Bitcoin’s creator(s), cryptocurrency was an answer to the failings of traditional finance and money, with the alternative being a decentralized currency outside of state or central entity control.
Perhaps due to this subtle uprising against establishment, most governments initially took a cautious view of Bitcoin and other currencies inspired by it. More recently, the massive amounts of funding drawn into coin offerings and token sales have ensured that regulatory interests followed.
But the tide is turning, at least in progressive nations such as Malta, where crypto-friendly laws are being drawn up to foster and promote blockchain and cryptocurrency growth.
Recognizing cryptocurrency’s truly disruptive potential
John Dalli, former cabinet and finance minister of Malta, is one such prominent figure in the small nation who believes in the potential for cryptocurrency to be the dominant future of digital money.
His backing of the QuickX project emphasizes the inclusive nature of cryptocurrency, along with several improvements upon efficiencies promised by its underlying technology, ready for real world implementation.
Dalli sees the ability of QuickX to deliver on its promises, with a well-thought out token model that will be implemented by a fully capable development team, aided by advisors well positioned to advocate to regulators and industry leaders.
Speed: QuickX, as the name suggests, is all about speed. Compared to typical blockchain purchases that require between 3 to 6 confirmations, QuickX protocol uses pooling facilitators to provide liquidity in off-chain transactions, greatly improving speed of settlement, without compromising transparency and decentralization.
Cost: Cryptocurrency’s potential to be a global currency means doing away with exchange rates, yet suffered from high transaction costs during peak network usage, even for small amounts. QuickX aims for near-zero transaction costs at scale across blockchains.
Scalability: QuickX’s low friction protocol allows for higher frequencies of transactions, allowing the network to handle demand as it grows.
Cross-chain interoperability: Users today go through hoops to convert multiple cryptocurrencies but QuickX aims to provide single-click swaps on a high liquidity platform, resulting in the most competitive rates for crypto exchanges.
QuickX is better equipped
While there are several platforms proposing to bring about the same efficiencies of speed, cost, cross-chain swapping and scaling, QuickX’s development team has the necessary expertise and commitment required for such ambitions.
Led by the Adhlakha brothers, who boast cyber security experience with the likes of Vodafone and Comviva, the publicly verifiable team has a suitable mix of blockchain tech experts and business leaders.
They benefit from an advisory team that includes Dalli, Coinomi CEO George KimionisHuawai Technologies CTO Jorge Sebastiao, PayX CEO Sang Jae Seo, GigaMedia President Steve Tsao and more.
Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom
Telegram Alerts from BitcoinNews.com at https://t.me/bconews