Streamity: The Decentralised, Secure P2P Exchange and Information Portal for Blockchain Millennials

funmiakinpelu (58)in #blockchain • 6 years ago (edited)

Despite the truly liberating fixture of cryptocurrency on the economic map, it is surprising to know that not too many people in the world have adopted and integrated it with their lives. Maybe, it's not so surprising, actually. Because apart from the well broadcasted negative economic hunches that have set quite a number steering their boat away, cryptocurrency and everything that comes with it has been known to easily crop up misgivings in the minds of people due to what they think are slipshods within the system. This is especially with regard to the P2P exchange market that is supposedly meant to ensure the safe, successful exchange of cryptocurrencies between individuals.

The problems confronting the P2P exchange market ranges from the fact that there is usually little or no security measures, there is the lack of a trustless system, lack of guaranteed functionality to the unfriendly, incomprehensible platforms serving as routes and even the lack of fully represented viable means of exchanges.

This graph shows the various reasons why cryptocurrency has not attained its full mark.

source

And as can be seen, because of problems bordering on exchange and payment factors (High transaction fee, lack of payment options, complicated payment). Even existing users, as shown, are facing these challenges, and normally, this is something the P2P exchange industry should have solved. One Chris McCann, in a statistical analysis of cryptocurrency adoption, unequivocally surmised that "Even though we’ve seen a huge increase for number of users of cryptocurrencies, tokens, and DApps — we are still in year 1994 if we compare the trajectory to the growth of the internet." source.

Although it's possible to argue that cryptocurrency, being an entirely new asset class, cannot be compared to the growth pattern of the internet, isn't it better some of the problems contributing to the slow adoption of cryptocurrency are nipped in the bud?

This is what Streamity and its accompanying Streamdesk is out to do; to change the face of the P2P exchange industry and thus, encourage the mass adoption of cryptocurrency. This is how they intend to make it happen:

Through StreamDesk, buyers and sellers of cryptocurrency are protected, secured from fraud though the utilization of smart contracts to escrow transactions between them. What this means is that, through a trustless system, there will be no need for a third party to trigger successful exchanges, because the StreamDesk system will only offset and process transactions when the conditions put in place are meant.
Streamity is in constant pursuit of alliances with other platforms like CIVIC, EOS and NEM to ensure crypto users can effectively make exchanges seamlessly and securely. Streamity has also partnered with PayPal, Yandex Money to ensure the use of FIAT for both buying and selling transactions.
Streamity does not intend to leave those making transactions wondering just what to do, so they have made the StreamDesk platform have a a friendly interface that users can easily navigate and have that perfect customer experience.
But even more, Streamity are highly challenged by how difficult people find it to buy bitcoin and other alt coins without having yet another cryptocurrency to exchange. Hence, they have removed the usual latch that comes with FIAT - crypto based transactions. Now, buying or selling cryptocurrencies with FIAT is now very easy.
Better still, even for this better experience, Streamity's transaction fees are next to little or nothing compared to the overvalued transaction fees charged by other exchange services.
Given the rare advantages of Streamity, the platform is going to scale in no time, and with they, users will have a wider, broader range of services and fringe benefits on the platform.

Given this lines of improvement on P2P exchanges, let's take an in depth at the nitty-gritties of the new, evolving multifaceted solution provided by Streamity.

The Glitches Presented by Existing P2P Exchange Solutions

KryptoMoney.com-Streamity-Decentralized-Cryptocurrency-Exchange-DEX.jpg

First off, it's easy to see why many people, including crypto analysts, have always favoured the decentralised exchange markets than centralised exchange markets like Coinbase, Binance or Bittrex. Beyond the freedom of control and wide range of privileges it poses for average cryptopreneurs or enthusiasts across the globe, it is purported that the Decentralised Exchanges (DEXs) are less susceptible to cryptocurrency regulations, bans, hacks and major security breaches. source

But then, have you ever tried to buy or sell bitcoin on a P2P exchange market, like say, Local Bitcoin? Because if you have, then you would share the same sentiment I had when I first tried to make a transaction. By the mere look of the website, the skeptic in me stirred. It just didn't appeal to me that I would send my money to someone on the other side, and trust that this other person that I don't know would send my bitcoin to me safe and intact. Upon having strong doubts, I sent a message to a confidant on Telegram, who insisted that I sought the help of a third party who knows how to navigate the murky waters of the exchange market before trusting my money to people who randomly set prices for themselves. Needless to say, I didn't make the transaction. There was no way I was going to risk exposing myself to fraud.

Now, you might say I got lucky by staying aloof but many other don't. They fall victim to the fraudsters parading themselves as buyers and sellers on the platform. New crypto users particularly fall victim to these ones, and this automatically depletes their once enthusiastic spirit, hence causing their withdrawal. Besides, Local Bitcoin only deals with Bitcoin, which is quite a disadvantage.

Again, even when one finds a trustworthy P2P exchange platform, it becomes nearly impossible to trade your hard cash for a good amount of valuable crypto. And then, even when the possibility is indicated, the restrictions placed on it is usually enough to steer one away from that path. For example, an exchange like Changelly allows one to buy cryptocurrency with US dollars but one could possibly not sell cryptocurrency with FIAT.

Streamity is keen on closing in on these gaps, and granting both existing and potential users a better experience when it comes to exchanging value.

What makes Streamity Different?

Here, I will be highlighting a few of the features that is poised to make Streamity a better option for P2P exchanges:

STREAMITY is the first P2P platform ready to protect transactions with smart-contracts.

(Streamity Whitepaper)

DAPP STREAMDESK

As earlier said, StreamDesk is a p2p platform for smart-contract cryptocurrency exchange. It is a unique service that allows for minimal commissions and fair market prices. While smart contract will guarantee the maximum security of transactions, it is the connection of users through the STM tokens that will allow "customers to be active users of on-line payments systems," and thus position Streamity to "service the next wave of cryptocurrency users." (Whitepaper)

(StreamDesk's Alpha is already out. Check out its features here and remember its advantages)

STREAMITY deserves special attention as the company speakers have more than 10 year experience in training community of traders, all strategies of traditional stock markets are being successfully applied in crypto-trading.

EDUCATIONAL CENTRE AND INFORMATION PORTAL

Even beyond ensuring a seamless secure exchange for people, Streamity offers other services like creating "information - analytical, educational and investment resources which include important sections: market review, market (collects information from the main exchanges and generates average cryptocurrency exchange rates), news, ideas, blogs and articles etc. The way this works is that these materials are garnered from content creators who are rewarded with STM tokens for their creative and analytical inputs.

This, beyond doubt, sets Streamity on par with other high performing portals in the world of cryptocurrencies. Besides, it sets it off as a means of empowerment as people derive real value for contributing to what will be a Streamity community.

STM TOKEN: ICO STRUCTURE

Another feature that sets Streamity apart is the fact that unlike most P2P exchange markets, it has a token which is not just to store up value, but which is actually central to the development of Streamity. This token called STM "constitutes the internal currency of the STREAMITY project. This means that payment for all project services will be made in STMS". The token, costing 0.20 USD, will be issued on the Ethereum platform, and will be openly traded on several cryptocurrency exchange markets. With STM tokens, "users will transform cryptocurrency into fiat money through StreamDesk service as it is much more profitable than using other means and services" (Onepager).

This opens up a new possibility for the use of FIAT. People will be able to use FIAT in the service of their cryptocurrency needs. Hence, the barriers arising from the need to own coins before one can trade coins will be broken. In due course, more new users will have access to the Streamity platform, giving room for scalability.

2nd phase of the ICO starts on the 25th of June, and you can buy the token with BTC, LTC,ETH, ETC, USD, EUR.

In truth, blockchain millennials whose life revolve around the glorious halo of the cryptocurrency world will find a perfect companion in Streamity, as not only is it a veritable, secure and easy means of trading cryptocurrencies (something that is constantly intertwined with their daily activities), Streamity also serves as a portal, a go-to, a melting pot when it comes to addressing the issues that are very close to their heart. And then, for the new wave who are soon to join in the now bustling crypto Wall Street, Streamity is a privilege, a privilege to enjoy the unlimited benefits that early starters never got around to enjoying. So, if you are already checking out StreamDesk's Alpha at about this moment, I will just repeat what Oleg D says to new members on the Telegram Channel: Welcome to Streamity!