There is a huge opportunity for the life of so many to be transformed by the presence of “cryptonomics”. It has brought several options to make money online for the majority of the masses. Another huge advantage it has brought is the ease to raise capital for startups. ICOs, ILOs, IEOs, and all the other “Os” have shown how quick liquidity can be made available for businesses to thrive.
However, the wedge against the acceptance of this awesome economic evolution is so visible. Apart from government policies, people need to understand what crypto is about. They need to have a “soft landing” or intermediate point between crypto and fiat. Fiat has been all that matters. So many digital currencies have come and gone. But crypto is here with blockchain as its foundation. How sure and stable is crypto? How will the migration from fiat to crypto be? These and many more are some of the questions people are asking and on the positive, the Bitlocus project is providing the answers. What is Bitlocus?
Bitlocus is a centralized CeDeFi exchange. It gives its users access to facilities to carry out fiat-crypto transactions. So there’s an integration of CeFi and DeFi functions. The advantages presented by blockchain technology are brought in to augment the already existing fiat system that is centralized and almost falling apart.
It has its headquarters in Vilnius, Lithuania managed by a team that has garnered more than 10 years of experience in the financial market. In simple words, Bitlocus is creating a bridge between fiat and crypto for everyone. Team
On the Bitlocus team is Andrius Normantas serving as the CEO. He’s an entrepreneur and a professional crypto trader amongst other things and has more than 14 years of experience in the field of finance. The CTO is Tadas Varanauskas who has been in the blockchain industry for more than 3 years and is interested in tech trends.
Glory Lucas who has so much passion for marketing and business development is the Chief Marketing Officer at Bitlocus, while Arturas Bobinas manages Business Development at Bitlocus. Andrius Kamarauskas and Matas Ramanauskas are Full Stack Developers with Andrius having his edge on back-end developments while Matas is known for advocacy of the benefits of TypeScript, Node.js, and React.
There are also a series of Advisors in the team from Peter Parviz, Founder of Bitnordex CEX to Daniel Mihai, CEO of COINSBY, and Abraham Zaarour, Founder & President of Bobmint.com. Ziad Ferzly of Cedarwood Advisors; Andrius Petkevicius, Co-founder & CEO of Bccs Cluster; Vitalijus Baika, entrepreneur and investor; Misha Barskiy, Head of Sales At S-PRO and Arseniy Burmistrov, CBDO at S-PRO. CeFi and DeFi
Bitlocus has an infusion of CeFi and DeFi. CeFi is a short form of centralized finance that can be attributed to the system of finance we are used to. Some CeFi features include centralized exchange that is controlled by a known organization, flexibility of fiat conversion so that there’s little to worry about, and cross-chain services that allow trading of cryptos like LTC, XRP, BTC, and other coins released on independent blockchain platforms.
DeFi is the opposite of CeFi which was ushered in by the introduction of blockchain technology. It’s permissionless allowing anyone to be part of the ecosystem without a central governing body, trustless so that users don’t have to know each other to carry out transactions but can trust the system to carry out such activities without failing, and quick Innovation. DeFi is changing the global financial system faster than anything seen before. The entire Bitcoin ecosystem is a perfect example of a DeFi structure. CeDefi, Terra Blockchain, and the Bitlocus Ecosystem
Bitlocus is built on Terra Blockchain which brings the DeFi advantage into the platform. Terra Blockchain also has a strong touch of CeFi because of the stablecoin, UST, that is intertwined with its ecosystem. With this stablecoin, users can make online payment, lending, borrowing, and stock market trading using. Part of the plans for Bitlocus is to use Terra’s stablecoins UST (USD) and EUT (EUR) as the backbone for creating its CeDeFi platform which is a FIAT to DeFi gateway.
Another advantage Terra blockchain brings is the interoperability between blockchains especially those that are smart contract enabled using UST as the central currency. The ability to fuse DeFi with CeFi is a reflection of the similarity in the vision of Terra blockchain and Bitlocus. This combination will make crypto usage so simple for users crushing the fear of fiat-crypto transactions.
Terra blockchain is amongst the largest smart-contract networks in […]
source Bitlocus, the Trading Platform Transforming Crypto-to-Fiat Transactions
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