The last ten years of digital assets have been a turbulent one. Bitcoin emerged against a backdrop of the 2008 financial crisis. It was an opportunity for new innovations and models beginning with bitcoin and the underlying Blockchain technology.
So far, capitalizing on this opportunity has been challenging – early associations with illicit activities like Silk Road and Terrorism Financing have contributed to the general public distrust of cryptocurrencies. This has been compounded by organized crimes such as ICO scams and pump and dumps schemes, skepticism from prominent banking figures and recent coverage around the crypto winter.
A change for the better
Despite this, interest in Blockchain for enterprise use and digital assets as an investment asset continues to emerge. Last year, the International Monetary Fund published a report suggesting cryptocurrency could replace fiat currencies.
Towards the end of 2018, we saw the announcement of several mainstream financial institutions making investments in creating new infrastructure to support investor interest in digital assets. In October 2018, Fidelity the sixth-biggest fund manager in the world announced plans to offer a digital cryptocurrency trading and storage platform.
Turning a new leaf: AAX
At ATOM, we believe that Blockchain and digital assets will help unlock the economic potential of the future. To help usher in this vision of the future, we’ve created AAX; a venue with trust and integrity, security and performance at its foundation for providers and investors to meet and trade digital assets.
In laying the foundations for AAX over 9 months ago, we saw the need to create a trusted venue where both retail and institutional investors could participate. To this end, we’re working with the London Stock Exchange Group to bring together the sorts of technology that would enable fair, transparent and trusted markets for trading digital assets.
Venture into cryptocurrency with AAX
The technology AAX is deploying benefits from developments since the 2008 financial crisis to help build fairer markets. Combined with ATOM’s team of Blockchain and trading technology specialists, we look forward to creating a future where trading digital asset represents the synergies of today’s mainstream financial world and the potential of Blockchain.
This is the first part of a series by AAX to share our insights on building a fair platform for digital currency trading. Please stay tuned for our next article on the significance of having a trusted exchange for Blockchain digital assets which are supposed to be decentralized and trustless.
This is the inaugural post of the AAX blog, we look forward to sharing with you more of our insights on digital currency trading. To find out more about AAX or to pre-register please visit www.aax.com.