Former Rothschilds Executive Banker Becomes Chairwoman for PlatinumDEX ICO
Are Initial Coin Offerings (ICOs) dead? Not if you consider that Rosamund Evelyn Blomfield-Smith has just become the chairwoman of an ICO project, PlatinumDEX.
“Who is Rosamund Evelyn Blomfield-Smith and why should I care”, you ask? Well, she is a former Executive Director at Rothschilds in the late 90s, former Director of Corporate Finance at ING in the early 200s and has a long list of high-level positions since them. In short, she’s an important figure in the traditional finances market.
“What is PlatinumDEX, then” should be the next question. This is a new decentralized crypto exchange whose founders have a huge experience in the fintech sector with blue-chip organizations, or at least that is what Rosamund Blomfield-Smith says and you probably should believe her.
A Decentralized Exchange That Actually Looks A Lot Like A Centralized One
These Wall Street guys simply cannot do things in a decentralized way, can they? While PlatinumDEX presents itself as a decentralized exchange, it is actually a centralized one. The company’s platform will be hosted and maintained by their servers which will be secure and have a high performance, they say. Also, it will have auto scale features that allow for exponential growth.
Everything sounds marvelous until the part of the white paper in which the company affirms that “as technology develops, PlatinumDEX will evolve into a decentralized exchange”. Promises. Everybody makes promises. Unfortunately, as we have seen in many ICOs, not all these promises actually are fulfilled as they should.
The company is also planning to launch a hardware wallet that will be connected to the exchange in some way using a “non-proprietary fully hardened operating system” which will be hackproof and will have 1024bit encryption.
This exchange will be fully regulated, as you would expect in a business such as this one, and will be based in the cold mountains of Switzerland.
Will this be a killer ICO, though? Hard to tell. While the presence of Rosamund Evelyn Blomfield-Smith is definitely a positive point that means that you can have some confidence in the company, it actually looks a lot more like a traditional exchange that will focus on the new emerging crypto market than an actually decentralized company.
So, if you are looking for a great investment that has the hallmarks of the great bankers, go for it, but if you are worried that this company will not fulfill its promises, maybe you invest in companies that already exist and do not need promises.