Cryptocurrency is a fascinating subject to many people but is taking new strides in the gaming industry thanks to people like Malcolm CasSelle his new company Worldwide Asset eXchange (WAX).
Developed by the founders of the company OPSkins, the progressive company WAX is a decentralized platform that enables anyone to participate in a virtual marketplace with zero investment in security, infrastructure, or payment processing. OPSkins is the world’s leading marketplace for online video game assets and WAX is using blockchain technology to make the whole process more streamlined.
The company’s WAX Tokens are a utility that can be used to trade virtual goods not just video game assets but also allows cryptocurrency exchange. Malcolm CasSelle, President of WAX, believes that the gaming world will showcase the world of cryptocurrency to the masses.
Malcolm CasSelle is one of the entrepreneurs behind many groundbreaking companies. Besides acting President of WAX, CasSelle is CIO of OPSkins. His previous business adventures include CTO and President of New Ventures at tronc, Inc., Senior Vice President and General Manager, Digital Media of SeaChange International, and Groupon’s joint venture with Tencent in China. Holding a bachelor’s degree from MIT and a master’s degree from Stanford University, both in computer science, it is safe to say that WAX is in excellent hands.
CasSelle began his venture in cryptocurrency in 2012 as a partner in early bitcoin mining projects. He has worked closely with many cryptocurrency startups like BTC China, GoCoin, and Blockchain Capital Partners. His history of working with China-based companies is only more accessible since he speaks Mandarin and Japanese.
CasSelle’s earlier life is a humbling one, being born and raised in Allentown, Pennsylvania. His great-grandfather William Henry Casselle (1882-1956 was a man from Philadelphia and very popular in the middle-class community. Helping his community prosper he has been quoted several times in the Philadelphia newspapers. CasSelle’s grandfather was a favorite barber, John “Jack” T Casselle.
Malcolm CasSelle is a trailblazer in his knowledge of cryptocurrency and blockchain. I look forward to hearing more ventures to come from CasSelle and WAX.
Refer to This Article for related information.
Progressive philanthropist and successful investor George Soros has expressed a grave forecast for the 2016 global market, a Bloomberg Business article reports. Namely, China’s stock market crash of last summer, along with its recent currency devaluation, has Soros and other economists worldwide anxious about the year to come.
For the larger half of a century, China has made unprecedented economic advancement, making it today’s second largest economy. However, market analysts have begun to question the longevity of the East’s economic powerhouse, as CNBC reports, following numerous trade freezes within the first week of January. Soros believes that “China is struggling to find a new growth model,” as he stated to a Sri Lankan economic forum January 7th. From what he has seen so far, Soros fears that we may be approaching an economic crisis on par with 2008’s market fiasco.
As of January 1st, China has incorporated the addition of circuit breakers, or trading curbs, into its trade regulations. That is, in the event that the CSI 300 should fall by five percent, foreign trade is halted for a minimum of fifteen minutes. Should it proceed to fall by seven percent, trade for the entire day is frozen. On the day that Soros issued his commentary, the circuit breaker had been triggered a mere thirty minutes into the business day. Given China’s global influence as a market superpower, the repercussions were felt all throughout the global market.
Daily Mail says oil prices fell dramatically; the Dow Jones Industrial Index plummeted to lows unseen within the past three months; London reports the most disappointing opening-year week since the year 1988. Even more alarmingly, this was not the first meltdown of the Chinese market within that same week.
The global market is making a transition back to positive interest rates, and Soros proposes that this shift is partially what is responsible for economic instability in developing countries. Overall, he cites the situation as indicative of a “serious challenge,” one which has striking similarities to the financial crisis experienced in 2008.
China’s governing power, fortunately, has begun seeking solutions to its upending economic downturn. By the year 2020, China hopes to improve the yuan’s convertibility. An official statement released by China claims that the country may even be dismantling the establishment of the circuit breaker altogether, replacing it with more lucrative regulations. Whatever the case, it may be that only time can determine the outcome of this year’s market. Already, Chinese banks have slashed interest rates to unseen lows, and the Chinese government has poured billions in financial funds into stimulating the economy.
As a general precaution, Soros encourages investors to be “very cautious” as we weather through this stormy economic climate.
Read more: http://www.forbes.com/profile/george-soros/