The Multicoin Asset Management Dilemma for Crypto Users
The Multicoin Asset Management Dilemma for Crypto Users

The world of cryptocurrencies has exploded both upwards and sideways. However, being digital assets, they are yet to find their way to the mainstream users. At its heart, digital asset management, and specifically, crypto asset management has failed to evolve as a specialized technology in itself, leaving most users in the lurch and providing very little avenues except for the tech-savvy population to accept it as a mainstream transactional medium.

In essence, it’s like being in one country with a foreign currency that isn’t accepted anywhere. Money is what money does, and mainstream sectors and markets, e-commerce, for example, can only progress with a robust and holistic ecosystem that makes cross currency (read – cross crypto currencies) manageable by users and merchants alike.

Experts have repeatedly iterated their view on the importance of utility, above all else, of crypto tokens, for now and the future. This is more than apparent in the inhibitions of merchants to accept multiple currencies and then transact with them at any exchange.

Centralization, it seems, is far riskier than we thought it was.

A decentralized ecosystem has the case almost made and neatly wrapped in its favor, an ecosystem that offers security and all the while, makes it immensely convenient for users to transact with merchants? Yes, as an owner of multiple wallets, I’d say that something of that sort would be welcome. There is no dearth of those among us who have seen banks suddenly halt crypto transactions or exchanges vaporize into thin air.

Another important aspect to consider is the strain on resources in transaction processing. Crypto mining has almost become a metaphor for environment unfriendliness and the huge resources involved in transactions, the burden of which most exchanges simply pass on to the merchant or the user. Multiple assets owned by users at any one time impose the strain of maintaining multiple wallets, not to mention complexities in their exchange, another crucial factor that keeps large scale e-commerce merchants away, sticking to the relative safety of traditional currencies.

So, what’s the solution? It’s fairly obvious that in a perfect world, merchants and users in ecommerce would transact in complete safety without the worry of multiple wallets, cyber-risk, or massive exchange fees. This is where Agate comes into the picture. It is a comprehensive set of a decentralised blockchain in addition to the 2 mobile apps, plugins, physical POS terminal, and a fiat pegged ecosystem. By considering each and every aspect of a real crypto economy, Agate leverages PoS (Proof of Stake) which has the lowest impact on surroundings.

Something of a unified ecosystem that encompasses multiple digital assets into a single wallet and is easily accessible with a simple and intuitive UI, safe, secure, accepted and handy when required, just like money should be.  To find a resource like this that would also serve users and merchants in almost real time processing would be an added advantage.

But much like the machines in sci fi movies, we have dreamt it, but are far away from realizing the sheer value that such an ecosystem could bring to millions of merchants and buyers across the planet. Something that sophisticated, in the ecommerce space, is hugely desirable but sadly missing, or hasn’t proved its mettle yet. But as a user, its safe to say that the smart money would be on this product.

 

Media contact:
Name: Hamed Taghvaei
Email: media@agatechain.org
TG Group: https://t.me/AgateChain_Group
Website: https://agatechain.org/

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