Malcolm CasSelle Talks About the Future and The Obvious Innovation of Blockchain Technology

According to Malcolm CasSelle, OPSkins CIO and President of WAX, the idea for the revolutionary decentralized P2P marketplace came from item trade in centralized marketplaces. OPSkins is a global leader for in-game asset sales, rising to become a multi-billion-dollar institution in just two short years. The successful virtual trade of video game items across centralized markets proved profitable for OPSkins, but it also showed CasSelle that the future was in decentralized markets. In an interview with IdeaMensch, CasSelle spoke about what he called an “Obvious innovation”. As an early investor in both Bitcoin and Facebook, CasSelle ahs always been at the forefront of change. Now, he is sitting in the pilot seat. CasSelle’s interest in Bitcoin led OPSkins to become the largest Bitcoin merchant globally, so his instincts on decentralized markets come from a reliable source.

WAX stands for Worlwide Asset eXchange, it is a decentralized platform for player to player trade across multiple games. The games that are part of the WAX network allow in-game assets to be traded as actual virtual currency. This allows gamer a return on investment, intergame trade, and universal tokenization of various currencies. It is huge innovation in the cryptocurrency world and heralded by some as the tipping point for cryptocurrency’s mainstream. According to CasSelle it is an obvious step that someone would have taken if he had not. “The blockchain solves so many issues with cross-border micro-transactions that if we had not done it, someone else would have.”

Blockchain technology is the new kid on the block for cryptocurrency. It is a program that uses cryptography to create data lists for transactions. These lists record every aspect of a transaction, separating the wheat from the chaff in regards to fraud. Fraud and fragmentation are the two biggest obstacles to the use of decentralized markets, and blockchains eliminate the first by pinpointing unreliable sources. CasSelle, who came to OPSkins in 2017, has always believed decentralized markets were the future of cryptocurrency, as they allow cross-border transactions. The safety blockchains provided spurred CasSelle into action as a precaution against future competitors. “We had to embrace the notion of essentially building our competition,” CasSelle stated.

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