“Revolution in the Blockchain with CROSS” What is the Future that CROSS Project Envisions
The CROSS project, whose roadmap is steadily progressing, such as the development of the secure wallet “X wallet,” including the appearance of “CROSS exchange,” which is a distributed value exchange platform that opened in November; in this article I will explain the future image that the project envisions.
What is the world that CROSS envisions?
The CROSS project considers “the true value of a blockchain as an exchange for collateral of value,” and then envisions the concept of “changing the way the value of the world changes from the root in a token economy.” In other words, it is a project aims at making digital assets into everything from books you normally read, well-played games, even real estate through block chain technology and to create a “distributed value exchange platform” with a token economy.
The exchange of goods and services, which is commonly done in modern society, that is, “exchange of value” is actually not a high degree of freedom in magnitude. If you are trying to purchase real estate from a country outside Japan, various procedures are necessary, as well as hurdles to exchange other products both domestically and internationally. However, it seems that if there is a “value exchange platform” that can convert everything into a digital asset, such as with the CROSS project, and exchange these digitalized assets, it will become a highly convenient world.
By digitizing everything, you will be able to build a completely new world without barriers. This is the world that CROSS envisions.
From physical assets to the digital asset era in the future
I expect the CROSS project to move from physical assets to the digital asset era in the future. CROSS itself is also a project aimed at converting everything to a digital asset, with anticipation that the world itself is going to move in that direction. The reason for this is that the problems of “physical assets” are abundant.
Examples of problems with physical assets
* Certificate issuance cost for certifying physical assets is high
* Alteration of the certificate itself
* It takes huge processing, cost, time, etc. to transfer ownership every time
* Difficult to transfer or exchange value with remote business partners
Many physical assets have problems in terms of “proof-value transfer,” but by converting this into a digital asset, the above problems can be solved.
Problems to be solved with digitalized assets
* Since digital assets are completed by application, there is no cost to create them
* Since certificates are recorded on the blockchain, it is practically difficult to tamper with them
* If existence can be proved, it can become a digitalized asset
The transfer of value becomes more convenient by converting things to digital assets. Furthermore, by providing a platform for exchanging digital assets, it is possible to exchange value regardless of location, time, and even ethnic background.
What are CROSS value tools to exchange values?
The CROSS project incorporates the construction of “CROSS value tools” as a system for exchanging digital assets in the roadmap. This system is divided roughly into three, and it is made up of sections of “production,” “distribution,” and “conservation and management.” Particularly in the “distribution” part, it has already been completed, this part is “CROSS exchange” which began allowing trading between users from November 20th.
Related article:About using and overview of cross exchange
CROSS exchange is designed as a hybrid exchange that combines attributes of a decentralized exchange and the good parts of a centralized exchange. As a result of this, asset hacking risk is of course less, and furthermore, since they have obtained an official cryptocurrency exchange license in Azerbaijan, they can take a deep breath and relax in terms of legality.
The XCR token issued at the time of ICO of CROSS is also available on this hybrid exchange, of course, and the CROSS project itself has a solid service infrastructure, so we can expect the stability and improvement of the token value in the near future!
Securing liquidity as an exchange
Even though it is a hybrid exchange that reduces hacking risk, it will not function as an exchange unless it has liquidity in the first place. Especially with exchanges that are new with few users, it is very difficult to ensure user convenience such as simply placing orders due to early adoption difficulties. However, since CROSS exchange can access directly from “X wallet,” which is a dedicated wallet application, it has the advantage of being able to enclose not only exchanges but also users of applications. Also, since “X Wallet” itself is also offered to other companies by OEM, this will allow users all over the world to access the CROSS exchange trade board, so it basically functions as an interbank to ensure liquidity.
As mentioned above, the purpose of the CROSS project is to digitize all assets and make it possible to exchange value. I cannot take my eyes off from the CROSS project which already opened “CROSS exchange” and is steadily progressing along their roadmap!