XOV: creating a central bank for cryptocurrency markets

[lonerdrop]

There is a lot of talk about 'centralised' and 'bank' etc. Everyone gets scared when these words are used. People who buy into the blockchain are usually anti-bank and anti-centralisation. We do not disagree with you. What people fail to understand with XOV is that we are not your traditional bank. Firstly, the XOV Bank will create its own decentralised currency. This currency will operate like every other cryptocurrency in the market except it's stability will be controlled. This means that when you hold 1,000 XOV and it's value is $100 for an example, the next day it's not going to be worth $50 or $10 when you wake up. A lot of people who support the blockchain are fed up of the extreme volatility. Yes, we all want a currency that's not controlled by Governments and Banks, but we also want it to hold its value and to be safe. XOV acts like a Bank in that we will provide an infrastructure where you can hold your crypto-assets that will keep it safe and hold its value overnight. We will also allow people to invest it in return for fixed interest. The coins will still be in your control, but you will place them in a stable blockchain infrastructure. All the XOV centralisation will be around how to manage this stable infrastructure using a combination of AI and human intelligence.

In essence XOV is going to control the prize of only the tokens they hold and the ones users sent to the platform. The prize of the rest of the tokens being held and traded by people are still going determined by the prevailing market exchange rate?  Does it mean that the token will only be traded in your platform? I don't seem to get how you plan to control and stabilize the prize of the token.

After being scammed recently of my hard earned money, the next thing that came to my mind was how to get the scammer. I can see my coins and the rest of other victims moving from one account to the other but do not know how to get them back. I think we really need regulation of some sort.

[kalunomics]

If I understood what was written in the light paper, it means XOV will be injecting more tokens into the ecosystem to maintain the value of the token when prize increases and also reduce the circulating supply to make up for prize drop at any instance? Does that mean there won't be a fixed circulating supply of XOV tokens because I didn't find any technical details about the coin in the light paper.
Some bad eggs are heavily controlling the market and organizing successful pumps because of the the low total market cap of cryptocurrency and the anonymity.
I believe when the market cap gets to trillions of dollars, maybe then it will be a little difficult to manipulate the market like the do right now.

[hammadmn]

Look like a good concept in up coming ICO.....hope it continue to progress as expected.

[vikti524]

I think that banks and crypto-currency are not compatible, but it's interesting to see what will come of it.

[joosep]

I already have stable currency, namely euro but this goes annual about 5% down, maybe stability will always cost something.

[nccr]

The project theme is good there is lot of fluctuation in value of cryptocurrency so we need a bank who can monitorized and can give real value what the coin is to be..

[hicham0211]

Free Tokens are always welcome. I'm keeping an eye on your project

[anastasiak17]

Centralization and trust will give in the markets more stabilization of currencies.

We wont more stability.

Hope this project promises success

[molder555]

Looks like a there will be a good project in here found this one interesting

[antonybrasko]

This support from Emin Gun Sirer is really good news/ I wish you just do this project and people can be happy!

[Darkstarsky]

Looking forward to this project.

[Dho_nho]

if this like "BANK" we can save coins there, Questions : how you control it , cause the coins price is not stabil ?

[jam0214]

This.project looks promising.

[hasilonline]

There is a lot of talk about 'centralised' and 'bank' etc. Everyone gets scared when these words are used. People who buy into the blockchain are usually anti-bank and anti-centralisation. We do not disagree with you. What people fail to understand with XOV is that we are not your traditional bank. Firstly, the XOV Bank will create its own decentralised currency. This currency will operate like every other cryptocurrency in the market except it's stability will be controlled. This means that when you hold 1,000 XOV and it's value is $100 for an example, the next day it's not going to be worth $50 or $10 when you wake up. A lot of people who support the blockchain are fed up of the extreme volatility. Yes, we all want a currency that's not controlled by Governments and Banks, but we also want it to hold its value and to be safe. XOV acts like a Bank in that we will provide an infrastructure where you can hold your crypto-assets that will keep it safe and hold its value overnight. We will also allow people to invest it in return for fixed interest. The coins will still be in your control, but you will place them in a stable blockchain infrastructure. All the XOV centralisation will be around how to manage this stable infrastructure using a combination of AI and human intelligence.

you mean we can get profit from your bank ?

[AndreaLea]

The future of this project is very good, but why this thread seems like silent, 

[pelijaran]

this is backed by Emin Gun Sirer ? Great people that got award  brilliants-10  by Popular Science ?
Amazing project !!!!

[Vektrum]

A "central bank" for decentralized crypocurrency? This makes the joke of the day. 

In order for cryptocurrency to be fully utilized, there will have to be stable prices. With a bank model, you will be able to create accounts (masternodes) that will gain interest, so you're able to SPEND your money for goods and services that people will accept. Not just all based on speculation, but based on real value. XOV is seeking to centralize this volatile world in order for all of us to have a currency we can trust.

In my opinion, this project is worthy of support. Indeed, the crypto currency, which is based solely on the supply-demand relationship, leads to a dead end in its development. We see that bitcoin takes off in price and is simply inflated in its financial bubble due to speculative rush demand. This will ultimately lead to its drastic depreciation at a stage when it will be at a high price level. We need other options to address this issue. Perhaps the creation of such a bank can lead to the stabilization of the course of the crypto currency. The volatility of the crypto currency is the main reason why the crypto currency is not perceived by the states and causes distrust in them.

[rolandtagz]

I just need more information of tgis project.

[xputchakabax]

when will you launch the whitepaper and roadmap?

[RDNX]

XOV has arrived on bitcointalk.
https://www.xovercoin.com

Please support the XOV project. XOV is creating a crypto-central banking infrastructure to stabilise the crypto markets. We have support from Emin Gun Sirer.

There will be a seed funding round.

We will contribute more later.

XOV Project Team

Well, I can say your project a little bit opposite from the crypto principle.
Why do we need centralize bank? Crypto was born to against centralizing things.