XOV: creating a central bank for cryptocurrency markets

[Richt23]

this centralization also does some bad effects like it's maybe predictable and by it it's hard to trade or have investments on that      

 The company is seeking exchange listings which would make it readily available to trade as any other crypto. Investments will be looked at differently than with traditional more volatile crypto currencies. The main positive is the assurance the price will remain steady and be asset backed. This will provide merchants with the security of knowing the currency they are accepting will hold it's value. This in my eyes is a necessary step to realizing mass adoption of cryto as a spendable currency.

[saini123123]

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

[percopolis]

Personally I dont will support anything like that type, you know that we're already have Ripple for something that connected with banks..

[i40u]

Maybe I should change my mind on the XOV.
I have got some news from the Washiton Blockchain Conference.
Some big fellows has post the same opinion about the private central bank.
Maybe that's a real chance!
Keep focusing!

Whats the news are you talking about? Let us know more info, not just an announce like you did it. Will we see concurrent with Ripple coin or not?

[anhhasd51]

Hello everyone, some interesting comments

[wishere jean]

The idea of creating such a bank is certainly good. But I still do not understand what will be the material benefit of the existence of this bank, if people will allow the bank to block their digital coins in their wallet. not transferring them to the bank for operational management, and the bank will charge interest both on the deposit

[Nastinmel]

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

The problem is that the very concept of the central bank for the crypt kills one of their main ideologies, namely decentralization. I don't think that's a good idea.

[Richt23]

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

The problem is that the very concept of the central bank for the crypt kills one of their main ideologies, namely decentralization. I don't think that's a good idea.

The currency would still operate using a decentralized ledger

[Richt23]

The idea of creating such a bank is certainly good. But I still do not understand what will be the material benefit of the existence of this bank, if people will allow the bank to block their digital coins in their wallet. not transferring them to the bank for operational management, and the bank will charge interest both on the deposit

It's not a good idea. Banks will target you also if the project is in an area where the Government doesn't want it then they will target it as well.

The project is based in London which is very fintech friendly so location should not be an issue. We are proud to be actively engaged with the Bank of England as a member of their fintech hub.

[Richt23]

The idea of creating such a bank is certainly good. But I still do not understand what will be the material benefit of the existence of this bank, if people will allow the bank to block their digital coins in their wallet. not transferring them to the bank for operational management, and the bank will charge interest both on the deposit

Not quite sure i follow but i'll take a crack at it the bank will not control your coins, they are yours. The material benefit would be having a safe place to store your earnings and a cryptocurrency which is suitable for mass adoption. Not sure where you are based but in the U.S the fees associated with getting your fiat into and out of the market are quite high on both ends. A currency suitable for mass adoption would allow you to spend the money you have in the market while avoiding these fees. Hope i helped

[Richt23]

Maybe I should change my mind on the XOV.
I have got some news from the Washiton Blockchain Conference.
Some big fellows has post the same opinion about the private central bank.
Maybe that's a real chance!
Keep focusing!

Whats the news are you talking about? Let us know more info, not just an announce like you did it. Will we see concurrent with Ripple coin or not?

Looked into it myself at the time... Beleive he was referring to Jihan Wu (Bitmain) stating their intent to invest in crypto central banks.

[Ozero]

Perhaps you should not be called a bank, as this brings unnecessary suspicion from the community of decentralized crypto currency, and banks are always associated with complete centralization. And basically the idea is good, but it requires further elaboration. I see that the project team is quite actively supporting the discussion in this thread. It is very good. However, many here are asking what material benefit will be given to such a bank in carrying out such activities. Maybe, of course, the answer was already given, there are already 60 pages in this stream and their viewing will take a very long time.

[Richt23]

Perhaps you should not be called a bank, as this brings unnecessary suspicion from the community of decentralized crypto currency, and banks are always associated with complete centralization. And basically the idea is good, but it requires further elaboration. I see that the project team is quite actively supporting the discussion in this thread. It is very good. However, many here are asking what material benefit will be given to such a bank in carrying out such activities. Maybe, of course, the answer was already given, there are already 60 pages in this stream and their viewing will take a very long time.

Not quite sure your definition of material benefit. This will not be a "moon" "lambo" coin as we are seeking to limit volatility if that is what you are referencing. If i missed feel free to discuss it further. We are always happy to engage with the community.

[achan]

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

[phuc2716]

Vì vậy, Bạn đang nói rằng chúng ta cần hỗ trợ một mật mã tập trung?
Tôi nghĩ rằng nhiều nhà đầu tư trong xã hội cryptocurrency sẽ không đồng ý với điều này vì như chúng ta đã biết, Chúng tôi yêu bitcoin theo cách của nó. (Phân quyền) Nếu một dự án tập trung vào vấn đề này, tôi nghĩ rằng Bitcoin sẽ không phải là bitcoin giống như tất cả chúng ta đều thích nó.

[lance04]

There's nothing wrong in creating a central bank for cryptocurrency. Actually, for me it is better to have a bank like that because by that, everybody will be aware about cryptocurrency even ages 60 yrs.old above.

[Richt23]

There's nothing wrong in creating a central bank for cryptocurrency. Actually, for me it is better to have a bank like that because by that, everybody will be aware about cryptocurrency even ages 60 yrs.old above.

Maybe we should look into advertising in the AARP magazine

[nguyenquynh2402]

Looks like a very interesting project. i am interested in XOV

[stevencoin]

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

[AlexMorzoff]

I think a fair amount of people would like to see mass adoption of crypto and actually see it spendable at merchants. For this to happen a company would need to realize stability matters and regulations are coming. The companies that survive long term will be the ones who work towards meeting those regulations.

Here is a plenty of people that like seeing mass adoption of cryptomoney and being able to spent them in real life, so it's good start