William Essex
William Essex

The slow algo movement

Happy third birthday to NXT, the relatively enduring “decentralised financial platform” (the word “blockchain” fits in there somewhere), which cut the cake in November 2016. Nxt was “coded entirely from scratch”, and has handled around 2.3 million transactions to date. Nxt’s Dave Pearce spoke to William Essex about Nxt and the future of FX.

Dave Pearce William Essex: Assume I’m an FX trader. What has the blockchain got for me? Dave Pearce: One of the main things that differentiates Nxt and the the second-generation crypto-currencies from the more basic first-generation systems like Bitcoin and its innumerable cls is that the second generation tend to have the ability to create your own customised tokens built into the system, and also the ability to trade these tokens. What we’re offering is the ability to make and define your own limited crypto-currency-like system, which can be used to represent pretty much anything. WE: So the FX-trading opportunity goes beyond FX? DP: We’ve had guys who have set up systems based on the NXT system to represent precious metals like gold and silver, even to recycle metal purchases, and of course to represent most of the major currencies, Eurodollar, et cetera, trying to peg those to a certain value and trade them via NXT systems. Most of the currency-trading initiatives so...continued

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