Invented Y 2008, the blockchain technology has depicted the change that it can bring in different business areas. The technology, even in its infancy, has disrupted different industries and sectors.
Various features of Blockchain such as decentralization, immutability, and transparency make it appealing for business sectors and domains all across the world.
A Key industry that is leading the way in exploring the potential of blockchain is the banking and finance industry.
In this new generation of consumers, trends and tech, cryptocurrency, blockchain and NFT-focused companies are emerging to provide solutions.
“E-Trade (ETFC) has 5-M, Charles Schwab (SCHB) has 32-M users, and Coinbase (COIN) has 56-M verified users
What this tells us is not only are people interested in trading cryptocurrencies, but the consumer set is a new generation of people, a new generation of consumers, a new generation of tech, and a new generation of solutions that are being worked on.
We are in the early stages of all of this, and the potential for blockchain will really redefine business and the way we do business.
One of the biggest trends in the financial space right now is de-fi, or decentralized finance, which has the potential to disrupt and recreate the financial system.
There are projects focused on lending led by companies like BlockFi, Compound and Ava. And, there are asset management companies that are only focused on crypto or supporting crypto, whether through funds or mining themselves, but also by providing the backbone infrastructure for the coming future of finance.
Also we are seeing the new evolution of decentralized exchanges from companies like Uniswap, which functions as a secondary market without the middlemen: the market markers, the clearinghouses, the custodians or the financial institutions.
We believe this recreation will lower costs and increase efficiency is extremely attractive and must be paid attention to.
Plus, there are happenings in the NFT space with digital art, etc. and whether or not they stay in the same form, the technology coming out of NFTs allows real-world assets to be transformed into crypto-compatible assets.
We are looking at a system that is decentralized that is secure but can now be verified in a decentralized way without the need for any central intermediaries, which which over the yrs have proven inefficient and costly.
GBITS has powered up their flagship offering the Knightsbridge exchanges that will not only provide a crucial source of liquidity to the global cryptocurrency market, facilitating billions of dollars in trading volume on a daily basis, but will cross over in to the traditional markets, Equities, FX and many more.
This will be managed by a series of our own proprietary routing and flow management algorithms.
As the market expands, the exchange platforms will scale in response to the demand for digital and digitized assets, offering asset custody, new trading features and functionality, and access to an ever-growing number of assets all funded from turnover.
With disintermediation as a core philosophy of the blockchain community, decentralized exchanges — or DEXs — have gained in popularity alongside traditional centralized exchanges (CEXs). Decentralized exchanges take a different approach to buying and selling digital assets: They operate without an intermediary organization for clearing transactions, relying instead on self-executing smart contracts to facilitate trading. This dynamic enables instantaneous trades, often at a lower cost than on centralized crypto exchanges, our Hybred DEX/CEX will change the world of trading.
In the absence of intermediaries, DEXs take on a non-custodial framework. This means that you retain custody of your cryptocurrency and are responsible for managing your wallets and private keys. Holding your private keys is considered a boon to users who want to maintain complete control of their assets. However, this comes with the risk that your keys could get lost, stolen, or destroyed; or in the unlikely possibility that you become incapacitated or pass away suddenly, if no one knows your password, your keys can’t be accessed. We will be offering the freedom of choice on how you wish to manage your money, The lack of an intermediary also means that most DEXs have limited counterparty risk and are not required to follow Know-Your-Customer (KYC) or Anti-Money-Laundering (AML) regulatory standards, this is the regulatory danger but we have preplanned, take a look at our Six Suite of products, Smart Blockchain based KYC and AML, a paradigm shift in the industry.
Knightsbridge is aiming to be a leading global exchange/broker/counterparty within 5 years.
Today, the Top 5 crypto exchanges in order of trading volume are: Binance, Huobi Global, Coinbase, Kraken, and FTX. Each of them turns over billions of dollars in trade daily.
Exchanges in this new and relatively unregulated industry come in 2 forms: centralized exchanges (CEXs), such as Binance, where you entrust your coins and passwords to a 3rd-party company; and decentralized exchanges (DEXs) such as Pancake Swap, where there is no involvement from a central authority and users remain in full control of their private Keys and digital assets.
Have a positive weekend, Keep the Faith!