The digital asset online gaming trading industry accounts for $50 billion a year in revenue. The industry currently has an estimated 400 million users. That makes it one of the biggest online industries in the world. This is why so many trading websites are getting in on this act. Two big problems that have resulted in these sites have become an easy target for cyber attacks and these sites have also taken of the high demand for what they are providing by levying heavy charges for their services.
One industry insider who wanted to help do away with both of these issues was Malcolm CasSelle. He helped up with WAX, a decentralized exchange platform. WAX is actually the creation of the operators of the trading website, OPSkins. This included CasSelle, venture capitalist William Quigley, and one of the first virtual asset trading entrepreneurs, Jonathan Yantis. WAX did away with the cyber attack problem with an unparalleled inner security system of checks, balances, and transparency. This system is very democratic in that it allows its users to choose who will represent them in this secured network.
These representatives represent a guild that in turn represents a certain kind of gaming. Therefore, users will select representatives partially based on what type of game they wish to specialize in. Other than the previous two big problems which WAX resolves it also resolves the international fragmentation problem. Previously every country had its own specifications when it came to online trading. This made it extremely difficult from cross-border trading to take place. WAX have fixed this problem by making it so game traders from any country can trade and communicate with anyone on their site.
It does this via the creation of WAX tokens, which can be used to trade assets internationally. These tokens are bitcoin. Today Macolm CasSelle is both the CIO of OPSkins and the president of WAX.