Sunday, July 13, 2014
Press Release: Can Crypto Next Actually Bring Bitcoin To The High Street?
Crypto Next Wants To Facilitate The Mainstream Use Of Crypto-Currencies By Providing White Label Exchanges and Merchant Services That Actually Work
Isle of Man - July - Crypto Next wants to make it easier for people to start using and trading digital currencies by providing turn-key packages that include a company, bank account and white label currency exchange platform, instantly overcoming regulatory and technological barriers.
They are also looking to develop a trusted, multi-currency wallet allowing for instant and recurring crypto currency payments. Because the wallet is trusted, the payments cannot be cancelled during the block chain confirmation period and would essentially work like a prepaid card. So now “brick and mortar” retail outlets will be able to join organisations that already accept payment in bitcoins.
Watch Crypto Next’s video presentation here.
Check out the official website here.
By providing a regulatory and financial framework, Crypto Next says it can help any retailer in any country accept crypto-currencies in a safe and time-efficient manner, truly bridging the gap between crypto-currency consumers and mainstream retailers. The platform will also be used for remittance services, a market which not only has the potential to help millions of people in the developing world, but was estimated to be worth 440Bn USD in 2010, according to the world bank.
Crypto Next was founded by Israeli tech professionals, Sharon Greenberg and Asaf Azulay, and incorporated in the Isle of Man where the Government has openly welcomed digital currency companies; a development which is attracting crypto-currency based businesses since the announcement on the 10th June 2014. Crypto Next is the second cryptocurrency exchange company in the Isle of Man to be announced.
The company’s products are currently in development stages and, for this reason, Crypto Next is seeking seed funding via a pre-sale of its coin (Crypto Next Coin) based on the Mastercoin protocol, by means of a crowd sale, making it the first company to launch a coin for an exchange via a crowd sale. If it achieves its funding goals, it expects to launch its first product milestone in the form of a multiple Fiat currency and multiple cryptocurrency exchange which will go live in several languages, by the end of August 2014.
Beyond this, the company has big plans, aiming to launch its white label exchange before the end of the year, followed by a turnkey platform for merchants, an international remittance system, and even wallet hardware. Not just dreamers, Crypto Next’s founders have the experience, business know-how and computing power to actualize their plans.
“The cryptocurrency world has been dominated by technology developers such as programmers and designers” says Crypto Next’s CEO Sharon Greenberg, an IT based businessman of 15 years, “the digital currency market is ripe for business minds to take it to new levels and that’s exactly what we are going to do with Crypto Next.”
Crypto Next’s core features are real-world transparency and regulatory compliance. The organization operates under strict due diligence procedures to ensure the platform is not used for unsavory practices. Crypto Next has appointed Döhle Corporate and Trust Services Limited as Company Administrators, and intends to appoint Grant Thornton as auditors, as soon as funding is secured.
If Crypto Next indeed manages to achieve its vision, the ramifications are mind-bogglingly extensive. As Ron Gross, Executive Director of the Mastercoin Foundation says in his statement about Crypto Next “With their solution, we could literally see 50,000 exchanges pop up within a year. This may be one of the key drivers to push Bitcoin to the next level.”