In an exciting development, it has been revealed that DasCoin will start trading on public exchanges on 28 April 2018. CEO Michael Mathias told a major NetLeaders event in Warsaw that having already delivered on “two major milestones” the foundations were in place to “add that public exchange element to our Ecosystem.”
Public exchanges will be added on a gradual, progressive basis. The system already in place to authenticate DasCoin users – the Know Your Customer or KYC approach – will also have to be adopted by any of the exchanges wishing to trade DasCoin.
Michael told advocates at the NetLeaders-hosted event in Poland that DasPay would also become a key part of the forward vision of the DasEcosystem as he seeks to make the Das brand front and centre of the global cryptocurrency world. Using DasPay would be “nearly instantaneous” and as straightforward as using a credit card, he said.
Looking at the importance of the DasCoin network, he used the example of Facebook as a social network that has eclipsed all others and said that whoever could do the same in the world of cryptocurrency “is going to have tremendous longevity”.
Towards the end of a 45-minute presentation to delegates, Michael said: “We’ve had two major milestones that we have delivered on – one was the launch of our DasCoin Blockchain that happened in March 31 of this year and then on September 30 we launched a Blockchain-based exchange that is running 24 hours a day, that has no central control – the only difference is that only people with our validators who are licenced in our authenticated network can access it.
He continued: “Now we are going to be adding public exchanges to our authenticated network, so essentially they are going to be the ones who are KYCd. We know that exchange; they have relationships with their people that they have KYCd and we are going to start to add that public exchange element to our ecosystem.
“We have hit two goals right on time and next year we want to have our coin trading on our first public exchange and then we want to add many more public exchanges as part of this wider trading circle.
“We also expect to have a very unique way of creating utility and liquidity to our system that we’ve called DasPay and it’s very exciting – like automatically using a credit card essentially. We are using the rails of Mastercard and Visa but instead of a transaction in a fiat currency with that you are basically going to be selling your DasCoin to facilitate that transaction and it happens nearly instantaneously.
“We see it as a great way that gets us past that chicken and egg dilemma. We will have merchants directly taking DasCoin but initially a merchant is like ‘how many people do you have on there?’ And if you don’t have a lot of people on there the merchant it going to be like ‘well come back when you do have a lot of people and the users are going to be like ‘how many merchants do you have?’ And if you don’t have a lot of merchants they’ll be ‘come back to me when you do have merchants.’
“So every network has that dilemma, but on the other side if you have a network that gets past that sticking point you have these tremendous network effects where it just starts to build and build and build and that’s why you have networks like Facebook. There could be so many social networks in this world but there’s only one real main one because of network effects.
“As far as the social network is concerned why go anywhere else? We feel in time that whoever cracks this question is going to have tremendous longevity because the key right now is to figure out what is the perfect solution. Well we feel that people play a key role in that. We want to leverage people and we want to reward people who are expanding our networks. It’s an important element to our DNA.
“Robert F Kennedy said: ‘There are those that look at things the way they are, and ask why? I dream of things that never were, and ask why not?’ I believe you can’t stop just at the dreaming and I think the why is where you start on the solution path. You have to put together a plan and then start asking ‘why not?’ And that’s the philosophy of what Das has been thus far and where we are right now.”
This blog was edited on 16 January 2018 to amend the date of the public exchange launch.
Get more great NetLeaders content across social media
Follow us on Twitter: http://twitter.com/netleadersnews
Like us on Facebook: https://www.facebook.com/NetLeaders/
Find us on LinkedIn: https://www.linkedin.com/company/10837350/