According to Malcolm CasSelle his new WAX platform may very well change the game for cryptocurrency. WAX, which stands for Worldwide Asset eXchange, is a decentralized player to player market that utilized blockchain technology. It is the latest innovation for CasSelle, who has been at the forefront of the virtual world for quite some time.
A graduate of MIT and Stanford with a bachelor’s and master’s in Computer Science, CasSelle began his career in 1995 with the founding of NetNoir. CasSelle became CIO of OPSkins in 2017 and has aided the in-game asset seller in becoming a world power. An early-stage investor for both Bitcoin and Facebook, CasSelle’s instincts have paid off nicely for OPSkins. Currently the company is the largest Bitcoin merchant worldwide, but it is not stopping there.
The virtual asset market has always suffered from fragmentation and fraud. Multitudes of users have experienced incomplete receipts, one-sided transactions, and delivery issues. The price for trading virtual assets has also increased due to the outside intermediaries digital markets have had to contract. These operators are tasked with providing needed security, they also handle international sales through the exchange of different currencies. Blockchains promise to fix all of this with revolutionary data tracking. Using cryptography blockchains record every transaction a user makes. This enables them to form smart lists that separate good from bad. It also eliminates the need for middlemen allowing for cheaper transactions.
CasSelle stated in a recent address that WAX could very well mainstream cryptocurrency. It allows cross-game trading between games within its network, giving gamers a real return of investment. Should bigger gaming companies follow suit, a whole new market could form around in-game assets. WAX’s ability to do away with currency exchange using tokenization could also have wider effects as well. Many believe tokenization is another factor in cryptocurrency’s mainstream.
CasSelle has been involved in virtual banking, paywall solutions, social media, virtual tracking, and new ventures through his involvement with various companies. His expertise in what makes the market move is unparalleled. He is one of many who see blockchains as the future of cryptocurrency and he backed that belief with WAX.