Worldwide Asset exchange, a decentralized investment platform, provides the opportunity for all to participate in the trading of virtual game assets. The Wax platform will lower the cost of these transactions and create a marketplace for in-game assets that were once non-existent. The purchase of tokens will unlock the ability of individuals to own virtual assets.
Security And Authentication
Critics of Wax concepts point out the difficulty in ensuring that tokens on the blockchain remain associated with a particular asset. Wax counters this argument with the assertion that their multi-level approach to governing this issue will provide for oversight regulation from token holders. Wax will leave the authentication process to transfer agents that work for guilds. A particular guild’s reputation is tied to its ability to properly authenticate transactions.
Fractionalizing Physical Items
In an era where it’s possible for a collector to own a percentage of Ferrari Testarossa from a favorite movie, A baseball card signed by Hank Aaron, or even shoes worn by an NBA star in game 7 of the NBA championship, the concept of fractionalization provides a vehicle to a world of new possibilities. Wax will effectively decentralize the governance of these assets, allowing for the process of authentication to be the responsibility of the guilds and leaving the transfer duties to transfer agents. Services provided by guilds with higher reputations will increase the value of an asset. The end result of Wax’s innovation is that assets that could never before be traded can now be safely exchanged and both their ownership and value can be properly authenticated.
About Malcolm Casselle
Malcolm Casselle is an international entrepreneur operating in a variety of capacities. Casselle is the Chief Technology Officer and President of New Ventures at Tronk Inc. Casselle is also the current President of Worldwide Asset Exchange.
Malcolm Casselle was well prepared for the many hats he wears as a businessman. Casselle is MIT educated and earned a bachelor’s degree in computer science from the prestigious institution. Casselle finished his education with a master’s degree from Stanford University, also in computer science.
Malcolm Casselle is fluent in both Japanese and Mandarin.