Russian blockchain startup Exscudo aims to connect traditional finance and cryptocurrency markets

Baozou Comment : Although the cryptocurrency market has been around since 2009, its development has been limited by KYC, AML and regulatory issues, and has always been an immature emerging market. Startup Exscudo can connect the traditional financial system and the cryptocurrency market, and all products will be connected to a common ecosystem, allowing users at different levels to easily cooperate. The project plans to launch an ICO this spring. Interested parties can register on the website for more information.

Translation: Nicole

The cryptocurrency market has come a long way since its emergence in 2009, but today it faces some difficulties. Although there are many startups in the market, it is still a nascent market and there is a lack of high-level products that are user-friendly for professionals and ready for mass market use.

It is not easy for ordinary users to create a cryptocurrency wallet to store their assets securely. Institutional investors cannot enter the market due to KYC and AML and regulatory issues, which is caused by the anonymous nature of the cryptocurrency industry today. Traders need to collect information from dozens of websites, online forums, and different sources to make a simple decision.

Basically, it's a mess.

All these factors have motivated the top team of the new startup Exscudo to create a new product to solve all these problems. They say that Exscudo will be the new gateway between the traditional financial system and the cryptocurrency market. The team's main goal is to create a single cryptocurrency market for simple users, professional traders, investors, and financial institutions.

Exscudo plans to offer a variety of different products to all users (amateur and professional investors), and all products will be connected to a common financial ecosystem, allowing users at different levels to easily collaborate.

The startup’s ecosystem will include a well-designed and easy-to-use stock exchange, Exscudo Channels – a communication and wallet application, as well as merchant features, trading terminals and bank cards.

In order to be independent from third-party developers, Exscudo said it will use its own blockchain (EON) — which will allow Exscudo to process transactions between the Exscudo Stock Exchange and international banks, as well as transactions between cryptocurrency wallet users and fiat account holders.

EON is the blood that drives the entire system and will use an intelligent transaction algorithm (contract) similar to the smart contract mechanism of the Ethereum network (but with a unique difference).

For security reasons, at this stage only the development team can add new smart transactions to the network.

The team said that EON is not a completely open source project, but those parts covering consensus, emission and block confirmation rules will be released on Github. The parts involving Exscudo Stock Exchange will be proprietary.

The Exscudo Exchange team also said that their proprietary platform is absolutely secure, fast and fully compliant with all international banking standards, and all transactions can be run within the system without the need for third-party services.

The platform will provide access to the personal financial sphere, where regular users can make purchases in stores using cryptocurrencies from linked debit cards. This is very important for miners, as they don’t have to convert into fiat currency to pay. These cards can be directly linked to bank accounts and cryptocurrency wallets.

Traders will be very happy to have a very comfortable UX and UI, which will include a large number of graphs, indexes, and a news feed that is easy to modify. No need to keep a large number of tabs and windows open - all the necessary tools can be found within the interface. The interface can be adjusted according to the current needs or using the functional preset mode. In addition, traders can directly access liquidity trading. Now there is no need to contact a broker to trade assets. Exscudo was created to enable direct transactions between people and various institutions.

Elements of the Exscudo ecosystem will be rolled out gradually throughout 2017. The first product to be launched in the second quarter is the Exscudo Channels application. Users can transfer funds, send encrypted messages and store funds on the light wallet client.

The project plans to launch an ICO this spring. Terms and conditions will be published on the official Exscudo page. Interested clients are welcome to register on the Exscudo website to receive further information by email.

The international team consists of professional developers and managers with many years of experience in developing financial products and services. More information about the team can be found on the official Exscudo website.