STREAMITY'S PLATFORM STREAMDESK, TO CHART A NEW COURSE FOR THE WAY P2P TRADING IS DONE

lucyc (49)in #cryptocurrency • 8 years ago (edited)

STREAMITY'S PLATFORM STREAMDESK, TO CHART A NEW COURSE FOR THE WAY P2P TRADING IS DONE

While there are many facets to having a well-balanced and clear understanding of Streamity’s StreamDesk and how it can change the way P2P trading is done, it’s important to start by stating the advantage of decentralization over centralization.

ADVANTAGE OF DECENTRALIZATION OVER CENTRALIZATION.

Image source : Google images

Centralized platform requires all data to go through one place, and hence, it is easy to track this data, but this also makes this data very prone to hacking. Decentralized platforms on the other hand allow for far more privacy. Since the information has to pass through different points and not just one point, there is no central hub for the data, and this makes hacking very difficult to carryout.

So, how does decentralization benefit P2P?

Image source : Google images

Decentralization benefits P2P in the following ways:

Privacy: Because of the decentralized nature of P2P, trades can be conducted in a much private manner, because the system is run by a software connecting the buyer and seller together, with no human middleman.

Image source: https://streamity.org

Security: Because of the decentralized nature of P2P, the coins being traded are not in the hands of any third party. The coins remain secured, until the seller gets his fiat. This is made possible through the concept of smart contracts

This decentralized peer-to-peer exchange can be directed exclusively online, by pre-programmed software, which require no form of human middleman. An example of a competent software to manage this P2P transaction is StreamDesk.

What Is Streamity’s StreamDesk?

Image source : https://streamity.org

StreamDesk is a P2P platform developed by the company Streamity, where both parties to a transaction are individuals, and carryout a trade without the help of any human middleman. There is no comparison between StreamDesk and conventional financial institutions such as banks or stock exchanges, as fiat currencies are transferred directly between individuals.[1]

The pictures below shows how Streamity works

Image source: https://streamity.org

In order to know how Streamity (through StreamDesk) will change the way P2P trading is done, we have to know the problem in the current way P2P is being done.

Problems of Current P2P Markets

Image source :Google images

High commissions: The commissions that current companies request for crypto transactions are really alarming. The market is so volatile, and hence very risky, so these companies charge you for the risk they bear, in the form of commissions.

Image source: https://streamity.org

High cryptocurrency exchange rate: Another technique these companies use to ‘take care’ of the risk they bear because of the volatile nature of the crypto market is to increase the exchange rate they state for their transactions.

Streamity Solution To These Problems

Image source: https://streamity.org

Minimal fees: StreamDesk has a commission bench mark of 0-2% of the total transaction. This is the lowest you can ever find in the crypto industry. Streamity is able to achieve this because they have been able to master the art of P2P exchange.
Fair service: Streamity goes the extra mile to make sure the crypto currency exchange value on StreamDesk is as close as possible to the current exchange rate.

To be able to prompt fiat users to enter the cryptocurrency market, we have to know what the fears of fiat users are, with respect to entering the cryptocurrency market, and how Streamity answers those fears.

FEARS OF FIAT USERS AND SOLUTIONS PROVIDED BY STREAMITY

Fraud: Because of their lack of understanding of the workings of the crypto industry, most fiat users are scared that they would be defrauded of their fiat if they try to change them to cryptocurrency.

Streamity solution
Streamity, through the StreamDesk platform, has made dealing in crypto much simpler and convenient, making trading easy to carry out. Also, through the feature of smart contract, the possibility of a buyer being defrauded has been reduced to the minimum.

Image source: https://streamity.org

Regulation: Many fiat users are scared of government still having control over the crypto currency industry, thus regulating it as they please. To them, they think it is even easier for government to regulate the cryptocurrencies, than to regulate fiat.

Streamity solution
Streamity has adopted a decentralized approach to the P2P trading of cryptocurrencies. This approach has made it impossible for the government to regulate, because there is no human middleman between the buyer and the seller.

Finally Let's me talk about Streamity’s impact on me with respect to cryptocurrency to fiat conversion

After reading a lot about Streamity through this contest, I have had my eyes opened to the opportunities that avail me through Streamity. I can categorize this opportunities into 2:

Lower fees: Through trading on the StreamDesk platform, I’ll be subject to far lesser fees (0-2%) than in other P2P trading platform, hence saving a lot of money for me as I sell my cryptocurrencies for fiat.
Fair exchange rates: Because of the fair exchange rates used by streamity, I’ll be able to save some money during my sale of cryptocurrencies for fiat, helping me make more profit than anywhere else on the internet.

Reference
(1) - https://Streamity.org
Others

Contest link : https://steemit.com/cryptocurrency/@originalworks/100-steem-submission-bonuses-sponsored-writing-contest-streamity

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