The crypto industry has gotten used to a lot of hype and endorsement from the mainstream media recently, so it is easy to think that the ecosystem is mature enough for widespread adoption. But when you look at the nuts and bolts of trading and transaction, it is clear that the crypto industry still has a long way to go.
For example, trading crypto is more inconvenient than regular stock trading by orders of magnitude. Between irritating Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, inconvenient trading platforms, and poor customer service support, trading crypto is much more basic than conventional investors would be used to. With mass reports of institutional investors from Goldman Sachs to George Soros getting involved in crypto trading, there is clearly a gap to be bridged between the way we trade and the way we should be trading.
One way that the trading experience for conventional investors is so much better than crypto is the technology they use. Trading terminals like that of Bloomberg allow for rapid deep analysis and transactions to be made. In crypto, where compliance/regulation concerns are very relevant, there is no comparable level of assistance provided by these terminals (which include notifications and guidelines pertaining to how to trade within regulations). This is missing from the crypto industry, and traders are losing out as a result. However, Blockchain Terminal is a company addressing this need with their new terminal which could act as an essential tool for all serious investors.
The Crypto Trader’s Battlestation
As the team behind the Blockchain Terminal (BCT) said, their solution:
bridges the gap between institutional investors and the unfamiliar cryptocurrency market. By combining market data from top cryptocurrency exchanges, information about upcoming ICO’s, as well as news from publications and social media, our hardware creates a complete picture of the crypto world.
ComplianceGuard is the component of the solution that is designed to help the user navigate the complex nature of regulation in trading: “The foundation of the Blockchain Terminal, it provides a deep compliance framework which satisfies the strictest hedge fund requirements.”
Perhaps most interestingly, BCT helps users work with exchanges that can be very time to consume in many cases. Cryptocurrency exchange integrations utilize ComplianceGuard technology to display information on the vast majority of approximately 1,400 cryptocurrencies, all in a compliance-vetted environment.
The team hopes that this array of benefits will be of interest to both experienced crypto traders dissatisfied with the clunky nature of current trade and to traders who are new to crypto and want to keep using the kind of effective solutions they are accustomed to.
A Complete Ecosystem
The amount of trades and transactions done in such a terminal requires thorough accounting and data management, which is why a token is necessary to underpin the system in order to provide oversight. For this reason, the BCT team is releasing a token which should also help spread the word about their platform. The BCT token sale is live and will run until April 30 with no minimum buy-in at tokensale.bct.io.
Images courtesy of Blockchain Terminal, iStockPhoto