Streamity---Creating the First Truly Fiat/Cryptocurrency Conversion Ecosystem

Dealing with cryptocurrencies can be quite daunting. This is even for the initiated. For, despite their proliferation, the fiat based monetary system accounts for the bulk of global commerce, which means the need to convert cryptos into fiat is necessary in many, if not most instances.

Presently, this can only be done through a handful of exchanges, some of which are illegal, overpriced, and slow. Furthermore, there are limits to what one can do on some of these platforms. For example, some only allow customers to buy a handful of coins using fiat, but on the other hand, they do not allow people to sell or if they allow people to sell, they do not allow people to buy. And in the few instances where the customer is allowed to do both, one's option is limited to Bitcoin. To top it off, security is not provided via smart contracts, which is the bedrock of blockchain security; hence the customer is left at the mercy of human error.

That this is occurring at a time when “the digital economy is slated to account for 1.36 trillion of global GDP by 2020,” speaks to the need for a P2P decentralized platform where people can convert cryptos into fiat and vice versa utilizing the security provided through smart contracts.

The Solution
Now, The Streamity Project, one of the latest blockchain ecosystems, operating outside of Singapore, has developed the StreamDesk prototype, that will provide the antidote.

As part of the Streamity Project, SteamDesk will eliminate the intermediaries that, presently, are the only ones capable of converting cryptos to fiat and fiat to cryptos. In doing this, StreamDesk will make the process of conversion cheaper. The platforms providing this service are more or less operating on a free for all basis. Often, they set the price, some of which can be obscene and can be changed at the seller's whim and fancy.

Video Summary of the Streamity Ecosystem

Fairness of the Blockchain
Streamity eliminates this problem by “binding their customers to the Market section on their platform.”(sic) What it does is that it “collects information from major exchanges and display the value of cryptocurrencies and capitalization of companies.” This initiative eliminates any possibility of a seller changing prices to gain excess profit. This is because the parties will know what the fees are and hence will not be surprised after the transaction has been executed.

The advantages here are twofold. For the customer, there is transparency with the best security provided by smart contracts simply because the rates are fixed, the commissions are extremely low and there is no more annoying hidden fees that many traders use to inflate the price of their product and hence, rip the customer off. Of course, there is also the larger topic of security. What Streamity has done is to lock the seller’s cryptocurrency within a smart contract until the buyer has assured that he/she has paid. And there is no commission.

On the other hand, for investors, there is the ability to make accurate projections regarding profits, seeing that the price will be determined by the market and not by legions of individuals, many of whom use underhanded methods to mulct unsuspecting customers.

Use Case
The X Team just completed a successful ICO by amassing over USD 20 million. However, they are having a few problems. First, they are unable to move that large sum over the centralized exchanges efficiently and cheaply. As it is now, there is a cap on daily transactions. This is too low for them to operate. Additionally, converting that much crypto into fiat is proving just as problematic because of the sheer volume. There are options, but the commission fees are too high. Plus there is the question of legality and safety; safety not only to one's person in the case of the face-to-face transactions that take place with, say, localbitcoin; but there is little transparency. The last time they engaged in such a transaction, the other party changed the price he was willing to buy the cryptos for. Normally, The X Team would have forfeited the contract, however, because they had business to execute, they took up the offer. The result is that both the company and the investors were shortchanged.

The Process

For a while they proceeded with caution in these matters and in many instances walked away from deals that would have gone sour. Of course, this was an impediment to their business. Then they heard about Streamity. They were able to convert their cryptos into fiat in a fast, transparent and hassle-free manner. Hence they were able to make accurate predictions concerning the financial well-being of their company.

Team
Lead by the inimitable CEO and Founder, Vladislav Kuznetsov. This all-star team’s expertise covers all the bases. From marketing to engineering, to business, this team constitutes every aspect of what would constitute a phenomenal team. They are beyond competent, and, with a project as complicated as The Streamity Project; investors can rest assure that their investments will be handled with the utmost care and due diligence.

An example can be seen in their road map. Looking at the time period, from the pre-ICO to the roll out of their project, the team is apparently a conscientious and thoughtful one that is using as much time as needed to deliver a quality product.

Road Map

Conclusion
The prospects for the project are great. Combing through their documents, one finds an ecosystem that will not rest on its laurels of merely providing a superb product for the nonce. Streamity is built for expansion. Already, they have plans of incorporating AI to increase efficiency. This will occur alongside training within their community. They have already formed partnerships with other blockchain companies to consolidate this expansion. Additionally, they intend to keep people informed through community meetups and conferences. In short, a well thought out and comprehensive project.

Additional Information & Resources

https://streamity.org
https://streamity.org/uploads/docs/en/OnePage_Streamity_en.pdf
https://streamity.org/uploads/docs/en/Whitepaper_Streamity_en.pdf
https://www.facebook.com/streamity
https://www.facebook.com/streamity
https://medium.com/@streamityorg
https://twitter.com/streamityorg/media
https://t.me/streamityChat_en
https://bitcointalk.org/index.php?topic=2519489.0

streamity2018