Streamity has sponsored a writing contest check their post for more details.
"The Streamity project is focused on creating a powerful cryptocurrency exchange that includes a broad range of services. The goal is to ensure users can beneﬁt from the developments in the cryptocurrency market, while mitigating risks arising from cryptocurrency ownership, transfer, and exchange."
SteamDesk is a digital assets exchange system, the first of its kind, designed by Streamityto facilitate trustless P2P transactions by creating an escrow powered by smart contracts. These build trust which is a major issue when it comes to P2P transactions as the trust is built in the code of the smart contract.
Why does StreamDesk use smart contracts?
Smart contracts rely on an 'if that, then this' principle. This means that when required conditions are met, this triggers a reaction to the other party in the transaction. These contracts can therefore work as escrow services meaning that both the money from the buyer and the ownership right from the seller will be stored in the system and distributed to the participating parties at exactly the same time. Super cool right?
"Smart contracts are capable of facilitating an exchange of money, property and anything else of value, ensuring the complete transparency, eradicating the question of trust between the parties. The code of a particular smart contract includes all the terms and conditions agreed upon by the parties, and the information about the transaction itself is recorded in a Blockchain, a decentralized, distributed public ledger."
"Simply put, smart contracts work a lot like vending machines. You just drop a required amount of a cryptocurrency into the smart contract, and your escrow, house ownership right, driver’s license, or whatever else drops into your account. All the rules and penalties are not only pre-defined by smart contracts but are also enforced by them. ~Cointelegraph"
To understand this further, the simplest analogy is used in the photo below;
Game Changing Platform
Well comparing the two, LocalBitcoins uses an escrow system where the sellers are ranked according to percentage of feedbacks left by their previous buyers. This system is not reliable and has led to loss of funds by some of the bitcoin buyers. Below is an example of a user who lost her money.
"Sent some bitcoin to my brother in USA and he used localbitcoins to send it to bank. Guess what? He was scammed by a guy with huge amount of positive feedbacks. The seller sent him the money to his AMEX, then my brother released bitcoins to him and then the seller claimed back the money right in 10 minutes. Ez pz. I understand that localbitcoins cannot be responsible for other people but they does not seem to do anything to educate or warn new users. That guys has 99% of positive feedbacks but localbitcoins hide feedbacks from newcomers. My brother left that guy a bad review but its not displayed and people can still be scammed.
The most fun part is that the guy left positive review to my brother. Of course, he is happy that there is platform which allows to scam people so easily, which does not verify reviews and which can protect scammers by hiding bad reviews."
Sourced from Reddit
This and more users have been scammed in a similar way with this system of P2P digital asset transactions.
With the StreamDesk system powered by smart contracts, the trust is not an issue as both the parties have to fulfill their required conditions for the transaction to be executed by the smart contract. Moreover, the transaction is witnessed and verified by hundreds of people, so the faultless delivery is guaranteed.
Furthermore, StreamDesk will handle the exchange of FIAT-Crypto and also crypto-crypto yet Local Bitcoins can only handle exchange of Fiat to Bitcoin.
Mass Adoption of Cryptocurrency
Currently, StreamDesk accepts two payment gateways that is Yandex and Paypal and many more like Skrill, PerfectMoney, Paytm and many more will be integrated into the system soon. This will give users over 18 payment gateways for exchange of FIAT to cryptocurrency and viceversa. This
Sourced from My DashBoard in StreamDesk
StreamDesk is a favorable option for newcomers looking to buy their first Bitcoin or other cryptocurrency coupled with easy withdrawals into FIAT. With increased inflow of FIAT comes an increased market cap for crypto. If decentralized exchanges allow users to throw their hard cash directly into some digital currency, we could see some interesting price movements in crypto-land.
Go to SteamDesk and register your account now!!
Verifying your account is as fun as taking a selfie....literally. I loved it.