The cryptocurrency space is seeing exponential growth in the number of digital assets. However, it is getting increasingly difficult to filter out authentic projects from the clutter. To this end, PlayBito steps up cryptocurrency vetting with a view on weeding out undeserving assets from the community.
PlayBito offers an avenue for carrying out meritocratic appraisals of cryptocurrency assets to determine their actual potential. HashCash, the company behind PlayBito insists that the platform provides the much-needed answer to crypto-skeptics.
PlayBito Steps up Crypto Vetting to Assuage Crypto-skeptics
Unsurprisingly, there are growing concerns about the merits of cryptocurrencies, given their unconventional mode of operation. In a Congress hearing late last week, global economist, Nouriel Roubini, termed Bitcoin as “the mother of all scams.” As CNBC reports, Roubini insists that multiple aspects of digital assets are suspicious. Interestingly, the economist is one of the few intellectuals who predicted the 2008 financial crisis.
This is just one case of the mounting pressure on digital assets to prove their potential value and their merit. As per Roubini and other crypto-skeptics, the crypto-verse is delusional and rides on overvaluation. In this view, PlayBito will ensure that each and every coin listed on a cryptocurrency exchange has actual utility.
Further, PlayBito utilizes sophisticated Know-Your-Customer (KYC) and Anti-Money Laundering (AML) solutions to enhance the authenticity of cryptocurrency transactions. Importantly, PlayBito enjoys the full experience and resources from HashCash. Notably, the company recently launched segregated witness (SegWit) features to beef up the security of cryptocurrency transactions.
Assisting Entry Level Projects
Furthermore, HashCash states through a news release that PlayBito will help arrest the apprehension that plagues new entrants into the crypto-verse. In this view, the solution helps them to easily learn the ropes of the nascent market.
“PayBito makes it extremely easy to understand interface, and is also available in iOS and Android stores. Additionally, PayBito is offered as a White Label Cryptocurrency exchange product to companies interested in using the software to run their own exchange,” the press release reads in part.
Interestingly, the open source nature for creating cryptocurrency brings coins that have no merit into the community. Since the world is much aware of cryptocurrencies now, the sector is at a crucial tipping point. Therefore, it would be a great waste of time to entertain coins without value. Therefore, PlayBito steps up cryptocurrency vetting in order to give a platform only to meritorious digital assets.
According to a PlayBito representative, registration is already ongoing. Interestingly, much of interest in PlayBito comes from emerging economies in Africa, Eastern Europe, and Latin America.
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