Before we start to discuss what spindle project intend to address, let us first explain the problem facing cryptocurrency market globally. Cryptocurrency is no more a new development. Since the development of bitcoin in 2008 by satoshi Nakamoto, various alternative (altcoin) cryptocurrencies have been introduced using blockchain technology to the market in order to serve a specific purpose. Bitcoin create a lot of media attention last year when the market price rise more than 300% of the initial value. Blockchain technology adoption by many crypto developers is as a result of an efficient, fair and transparent way in which data transaction are being stored.
However crypto traders and hobbyist face a lot of problem among these is the fervent threatening by government in regulating the digital currency. Some countries such as China have gone far as banning crypto related activities making trading difficult in such region. One of the reasons for major regulation is as a result of inability by government to tax traders. Secondly cryptocurrencies traders have face some challenges such as loss of crypto asset. Disappearance of NEM at a major Japanese virtual exchange, Coincheck, and on other system-related issues at cryptocurrency exchanges is still fresh in our memory.
Spindle is a project developed to oversee the major challenges facing cryptocurrency market and provide efficient and long lasting approach in solving the problems mentioned above. Spindle platform has earlier on established a ZETA initiative called ZETA-1. ZETA is developed to achieve some goals which include
Effective Management of asset and transparent investment strategies through ZETA initiative, a totally fair platform will be established which will give people prospect to invest and manage their asset without predicament.
Spontaneous Credit scoring Handling: credit scoring is a statistical analysis performed by lenders and financial institutions to access a person's credit worthiness. Lenders use credit scoring, among other things, to decide on whether to extend or deny credit. Credit scoring based on countries and companies are centralized and are calculated manually which give room for foul play. The planned ZETA will device automitization of credit scoring using autonomous human being which will not allow subjective intervention of any authority as it appear in centralized organization.
As we have mentioned above, ZETA are established in order to make an autonomous human beings which will help in a unravelling problem ranging from excessive government regulation of cryptocurrency and asset management related problems.
As we all know that centralized exchanges are sometime dangerous because massive loss of asset may occur just like what happened during the case of Mt.Gox which happens to be one of the major scam in the history of cryptocurrency. Although we might be expecting centralized exchange to be controllable and predictable, history has shown that they lack these. ZETA will provide a decentralized exchange (DEX) which will make users to have full control over individual asset. The DEX platform speed will be high in order for seamless transaction. ZETA-2 will enhance asset management which prevent subcontracting of asset to others. For more information on Spindle kindly visit the website https://spindle.zone/en
Spindle completely decentralized Asset managment Platform
Reviewed by Planet
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Reviewed by Planet
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