On our Exchange all offers will be processed by a centralized escrow mechanism controlled by the exchange moderators. Users will independently exchange cryptocurrencies for their national currencies.
I think you'd better add to your whitepaper the description of the trades settlement etc, now Qvolta looks like yet-another-centralized-exchange:
a centralized escrow mechanism controlled by the exchange moderators
Thanks for your advice! Be sure we will add this information! We did not take this moment into account from the very beginning because we thought that users would clearly understand everything from the description of the service.
Our service has 2 components (as well as any other working not only with cryptocurrency, but also with fiat money service has):
1) Payments/Transactions with user's fiat money
2) Payments/Transactions with user's cryptocurrency
If we consider the first component, then we are completely decentralized: the users' fiat money does not go through our trading platform and users make payments to each other directly, without our participation.
On the second point, of course we could not be called completely decentralized, because orders are processed by a centralized escrow mechanism.
Services like Bitsquare are not our competitor. In my opinion they are very difficult for the ordinary users/beginners in the world of cryptocurrency.
Our direct competitor is LocalBitcoins, but we have huge advantages over them, which are described in our white paper.
We focus on a wide range of users and our mission is to popularize cryptocurrency for ordinary people by creating a convenient and understandable service for their purchase and sale.
Show Posts
