Worldwide asset exchange formally known as WAX is a decentralized marketplace where trading of essential commodities between buyers and sellers is made possible. The founders of OPSkins established wax after realizing that despite OPSkins being the leading marketplace in online video game assets its centralization was disadvantageous because there were worldwide users and therefore the demand for a decentralized system.
WAX can solve the problems that face the virtual asset market which is fraud and fragmentation through a simple blockchain. Market fragmentation is caused by the tendency of regional and local marketplaces restricting security concerns, language and payment process to their regions or countries. The blockchain through the wax token can allow buyers and sellers to trade and tokenize their asset with other players or even exchange for cryptocurrency in a setting that is free from fraud.
WAX token being a common currency will be able to solve the problem associated with geographic fragmentation since many people who find it difficult to transact with users whose assets are if different cryptocurrency from theirs will no longer have to use the middlemen as they all have a common currency. The delegated proof of stake which the most efficient, the fastest, most flexible and most decentralized consensus model available is used to power the WAX blockchain technology. The WAX token has been used to serve as a store for gaming items and a contract for selling, buying, trading and renting of game items.
Malcolm CasSelle the current president of WAX also the CIO of OPSkins has a bachelor’s degree in computer science from Massachusetts Institute of technology and a master’s degree on the same from Stanford University. Formerly, he was the CTO and president at tronc and also the CEO of a digital media company. Besides that, he has led the digital company into startups and has also been an active investor in various companies such as Zynga and Facebook. He was also a co-founder of PCCW which is a publicly traded telecom in Hong Kong earlier on in his career.
Find out more about Malcolm CasSelle: http://casselle.com/