The press conference was organized to introduce the expansion of Waves platform, which is a global virtual currency trading platform based on blockchain technology, to the Korean market and to introduce its features. It was attended by officials including Alexander Ivanov, founder and CEO of Waves platform.
CEO Alexander Ivanov said, “Although blockchain technology is highly sophisticated and complex, our goal is to make it easy for the general user to use. We understand that regulations are emerging as an important issue, and this is a matter of course. We plan to talk well with Korean regulators to ensure proper regulatory design and implementation, and we expect the excellent technology of Waves platform to play a great role in the Korean market as well.”
According to the announcement, Waves Platform will establish a base in Korea and other major cities in the world, and plan to service its new virtual currency trading platform 'Waves Client 1.0' sequentially.
Waves platform was first launched in Amsterdam, the Netherlands, on December 13, 2017, and then opened its second office in Berlin, Germany, on December 15. It will be launched in Singapore and Seoul in Korea in the first quarter of 2018, and will be in service in New York in the second quarter.
Waves Platform offers a variety of features to maximize the ease of use of Waves Client 1.0. First, Waves Platform introduced a simple usage environment that can be found in the existing online financial applications in a web wallet. The registration procedure is more easily and quickly supported by the automatic storage system of Seeds, which is a user-specific private key for accessing the web wallet address, and a simple authentication procedure is implemented by attaching a unique identifier to each account of the user and introducing an avatar generation process.
It also streamlined the transaction process and introduced a system to provide users with a wide range of data, such as disclosing the market price and the rate of change in the US dollar. Transactions are fully reorganized, allowing transactions to be grouped by date, as well as providing efficient access to all transaction information.
At the same time, Token Launcher, Leasing, and other difficult functions for the general user are also offered to be easily used. In the case of leasing, it displays users' lease amount and available balance as well as the address of a large mining pool, thereby enabling users to use the functions actively.
One of the key elements is the ability to support Decentralized Exchange (DEX), which allows users to quickly and securely buy and sell assets with a low fee, without intermediaries, based on the P2P engine.
Meanwhile, Waves platform will establish ICO standards through the establishment of an association-type self-regulatory organization, and will co-ordinate ICO official policy in cooperation with ICO Governance Foundation (IGF) and other professional foundations. The standard to be released in early 2018 will focus on reporting guidance for customer identification, anti-money laundering systems, business pre-investigation and legal evaluation system for a project’s sustainability evaluation to encourage more responsible use in addition to maintaining security and function of the blockchain ecosystem.
Waves platform announced that many market participants and advisors, including Deloitte CIS, ICO Governance Foundation and the Ethereum Competencies Center, expressed their willingness to support the association. It has also informed that it will announce the proposed industry standard by creating an executive organization after completing the association registration in Switzerland.
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