Michael Oved, the co-founder of Airswap strongly believes Ethereum is the future and anyone that is not involved with the technology will be left behind. Airswap is a decentralized platform that acts as a global marketplace for trading Ethereum based tokens.
Michael was talking to Bloomberg News where he says Airswap is trying to differentiate itself from other crypto exchanges by being decentralized. This means they don’t hold any client funds and this is important to them because if you look at the regulators that are trying to come up with strategies to regulate exchanges, they are focusing on things like transparency and it’s difficult to know what is really happening behind the scenes. Adding what most of these exchanges are doing is acting as unregulated bank accounts.
When asked if Airswap has mechanisms to avoid issues of manipulation, spoofing, wash trades and other things where people try to drive their prices he says the company has technological solutions to most of these problems, adding regulators are going to look at this technology and really be happy with it.
When asked how specifically they plan to combat manipulation that regulators are concerned with, he says in cases of pump and dumb where many people come and buy a token and then sell it to some else – he says this is only possible on a centralized order book and its not really possible on Airswap because all trades are matched peer to peer.
By leveraging the power of the blockchain, Airswap isn’t sitting in between trades and it’s not deciding how trades match since they are matched by the Ethereum network itself.
He goes on to say lately since the crypto market started to pick up they have seen an increase in inquiries from people that are interested in investing in cryptocurrencies. Adding the technology is revolutionary and there is a lot of institutional money sitting on the sidelines ready to get in. He Reiterates Ethereum is the future and anyone who is in the financial industry and isn’t involved with the technology will be left behind.
Do you agree with Michael’s sentiment that Ethereum is the future? Let us know in the comment section below.