BlockQuake, a global digital asset exchange, has announced that it is going to list BSV, and BSV trading will soon be offered on its platform, which is available in more than 150 countries.
This announcement is good news for the millions of BSV users around the world as another avenue has opened up where they can purchase, trade, and transfer BSV for use in the numerous apps built on the BSV blockchain.
BlockQuake is striving to be a global financial hub in the future, and providing support for BSV trading is one step closer to its goal. This is because BSV is aligned with the values and strengths that BlockQuake is cultivating.
“We announced that we will support BSV trading, and the reason we did that was that it is a legitimate project and it’s got an amazing community that’s growing.
I was very thoroughly impressed with the people behind the community, their savviness, professionalism, and technical expertise, and all that played a role in us wanting to list BSV,” Antonio Brasse, co-founder and CEO of Blockquake, said.
BlockQuake believes in the increasing use of digital assets and decentralized finance in the future, and it is on this premise that the global exchange is basing its business goal of becoming a global financial hub. This means that BlockQuake plans to improve and offer more services as decentralized finance grows.
“I definitely see decentralized finance growing further. What we’re doing at BlockQuake, trying to merge traditional financial services with the crypto markets by creating multiple crypto-to-fiat on- and off-ramps, I think this will help make markets more efficient.
People want to move money around faster, and we’ll be able to help facilitate that,” Brasse explained.
Hence, it is only doing business with digital currencies that are known to be sustainable—unlike others that just sprout out from nowhere and disappear like bubbles. A digital currency’s sustainability is of key importance in this case.
BSV has been found to be the most sustainable of popular Bitcoin implementations BTC and BCH due to its capacity for limitless scaling that allows for block sizes and throughput to be increased exponentially while lowering transaction fees to a bare minimum at minuscule fractions of a cent.
“BSV is more efficient due to block size and the number of transactions (throughput) currently available on the network and limitations of other protocols. So long as the size or number of transactions on the BSV network exceeds the limitation of the other protocols, BSV is the most efficient in this group,” the MNP report concluded.
BSV has restored the original Bitcoin protocol as closely as possible to what was stated in the Bitcoin white paper. A fixed and stable protocol provides developers with a solid foundation to build a myriad of applications and platforms that can be used in all kinds of industries, such as government, healthcare, supply chain, iGaming, eSports, social media, and banking and finance.
Because BSV is energy efficient due to its powerful capabilities and utmost utility, it can be said that its sustainability is assured. And this is something that will benefit BlockQuake. As BSV use continues to grow, BlockQuake will also increase its relevance and draw in more consumers.
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Consumer Confidence and Protection
In order to strengthen its place as a trusted digital asset exchange and ensure its longevity, BlockQuake is aiming to gain consumer confidence by providing added protection to itself and its customers through regulatory compliance.
“We came to start BlockQuake because of the pain points we experienced. To take you back, I and many other team members were from financial services.
We’ve experienced trading stocks, options, affects commodities, et cetera before we got into crypto, and when we started trading cryptocurrencies there were a lot of problems with many crypto exchanges crashing and disappearing.
You didn’t know who owned what, nobody was regulated and there was very little concern for consumer protection,” Brasse revealed.
“Regulations around security should be in place because again it comes back to consumer protection. That’s how you get more people in. If you provide more safeguards, more people will participate and get involved. So, [with] more regulations coming into play—that’s a good thing because that’s how we get to mass adoption,” Brasse added.
Many exchanges have come and gone just over the past couple of years.
A very clear example of tightening regulations and the effect they can have when ignored or bypassed is the case of popular exchange Binance’s shutting down of its operations in Singapore as a consequence of a previous order of the Monetary Authority of Singapore (MAS) to stop providing payment services to residents because it may have breached the country’s Payment Services Act.
And because more regulations will only get drafted and they will only become stricter as digital asset use becomes more prevalent, it is only wise to become conscious of them and abide by them in order to protect both the exchange and its customers.
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According to Brasse, BlockQuake believes in the KYC, AML, and KYC protocols, as well as being regulation-compliant. At present, BlockQuake is already registered with the Financial Crimes Enforcement Network (FinCEN) and it has also submitted an application for a New York State BitLicence.
Likewise, one of the principles that BSV adheres to is being regulation-friendly. As Bitcoin creator Satoshi Nakamoto once said, Bitcoin has to work within the law for it to be valid.
BSV firmly believes in this and that it is crucial for its ultimate goal of global adoption. It can be said that when it comes to these values, BlockQuake and BSV are on the same page.