Malcolm CasSelle Uses Wax to Change Our Views on Cryptocurrency
With our ever-evolving world we are seeing more people invest in electronics and now e-currency as a means of using money. We’re also seeing how these electronic tokens are being used online as well for purchasing and selling goods. However, the number one area in which these currencies are being used is in the virtual reality video game realm. Malcolm CasSelle is the CIO of a company called Wax. Wax stands for Worldwide Asset Exchange.
Using the technology is simple with Wax. Individuals are able to automatically monetize their gaming experience. The individual items that a that a person has online is able to trade those items with other players without having to go through another second party source to buy and sell those specific items. This cuts out people needing to upload their bank or credir card information using their physical money stores. Wax allows players to essentially pass on an item to another as its own electronic currency that does not affect ones actual bank account.
Something that is a common occurrence in selling digital items online is fraud. Oftentimes people are trading items or selling items to one another and through others knowledge of scamming and technology are able to use the internet to essentially rob others. No third party assisting, or reimbursement for a faulty system, just lost digitally monetized items. Wax is determined to continue showing that they have resolved this issue. They have resulted issues by using what’s called Block Chain smart contracts. These contracts allow people to set up a trust within a community online in which that they will continue to be a part of such community as long as they hold up their end of their bargain. Without doing this such thing an individual is immediately prohibited from continuing their interactions.
Malcolm CasSelle has taken other companies to new heights through his leadership and entrepreneurial abilities. One such other company was Groupon, and how he actually helped the entire accompany expand its influence and productivity within Asian countries. Wax is just another realm where Malcolm CasSelle plans on expanding the e-currency business. And doing so will revolutionize how the world sees and uses money.