Either this means carrying out the transaction through a centralized exchange which gives limited options and is not available to all geographical locations. Centralized exchange accounts are always under the risk on an attack and your funds are always at risk.
The crypto pairs are limited and not all exchanges deal with fiat.
Doing it through sites like local means having to deal with complete strangers and you have to go out of your comfort zone and step out to a predecided place for a meeting. Making a cash dealing in a public place and dealing with strangers has its challenges and risks. There have been a number of cases where people have been tricked into losing their cash or crypto.
Enter Streamity and all these challenges could vanish for good
Streamity has created StreamDesk that is a place to exchange crypto to crypto and crypto to fiat using smartcontracts and this aims to mitigates all the risks associated with the conversion of crypto to fiat that exist in above mentioned business models.
The concept of a working decentralized exchange where all the transactions are controlled by smart contracts ensures the protection of both the buyer as well as the seller.
The way StreamDesk platform works is as follows.
Each transaction is governed via a smartcontract and this ensures a safe P2P transaction. Let us see an example.
The image below demonstrates how a transaction is executed using a smartcontract.
Here the sellers has the cryptocurrency which is locked by way of a smartcontract.
When the cash is transferred to the sellers account the smartcash releases the crypto that gets sent to the buyers account.
The whole process is secure, P2P (Peer to Peer)
StreamDesk alpha has been in the alpha stage till the 24th .
24th also marks the release of the beta version and the commencement of the 2nd round of token sale which can be accessed here.
A word about token sale
It may be noted that they have already raised 4 million from the token sales and this is some of the ratings that they enjoy.
more details about token sale can be found here
Partnerships
To enhance its reach with different cryptocurrencies and blockchains Streamity is pursuing partnerships with blockchains such as EOS and NEM for smart contracts.
Yandex and Paypal are already on board as payment partners.
With growth and integration more partnerships can be expected to be forged in the coming times.
A Use Case
Sam has an online consultancy business. Most of his clients are overseas and pay him in cryptocurrencies.
His staff however is locally employed and needs to be paid in fiat. This periodic conversion of crypto to fiat would be a cumbersome exercise for Sam. Instead he can use StreamDesk and use the power of smartcontracts to ensure ease of use and safety. This meens his need not lose sllep or time for making crypto to fiat conversions. This means he can continue to earn in crypto and easily pay his staff in fiat.
This also means that with the same ease a person can also use fiat to buy cetpto as StreamDesk is a two way exchange. Thus it is considerably lowering the barrier to enter crypto.
All information given in this article is for information not an investment advice.
Please do due diligence before making an investment.
For more information please refer the following links.
- Streamity Website
- Streamity OnePager
- Streamity WhitePaper
- Streamity YouTube
- Streamity Facebook
- Streamity Medium
- Streamity Twitter
- Streamity Telegram
- Streamity BitcoinTalk
https://steemit.com/crypto/@originalworks/605-steem-60-bonuses-sponsored-writing-contest-streamity
A Good news is that an airdrop is under way for this project and you can access the details here
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