New Nash Distributed Finance Platform to Test Both Decentralized and Non-Custodial Crypto Trading
- Five blockchain developers collaborated to form a distributed finance platform called Nash.
- The new platform is open to alpha testers, though the selection process is fairly restrictive.
Nash: A Distributed Finance Platform Built on Blockchain Technology
Distributed finance is not something that should be restricted, according to Fabio Canesin, Fabian Wahle, Ethan Fast, Thomas Saunders, and Luciano Engel. These five individuals, who are all open source blockchain developers, decided to collaborate in an effort to create a distributed finance platform that is entirely backed on blockchain technology. With this goal in mind, the potential new platform will be launched that offer decentralized and non-custodial trading.
The founder of this project – Canesin, Wahle, Fast, Saunders, and Engel, created Nash in 2017, using it as an integrated financial services platform, allowing users to use their digital assets for investments, trading, and payments. All of the founders were also a part of the open-source City of Zion community, and they are still working on the infrastructure for the NEO blockchain.
Through traditional venture capital firms, the company has managed to accumulate $12.25 million, as well as another $25 million in a Liechtenstein-based registered public digital security offering. According to claims from the company, this is the first time that an offering of this nature has been hosted in Europe. Now, the creators have made the new platform available to alpha testers, but they are being highly selective about which testers are permitted to engage in the testing, and when they are allowed to start.
Allowing Peer to Peer (P2P) Trading Via a Decentralized Cryptoasset Exchange
Centralized asset exchanges involve a third party that handles the trading between traders and sellers, but Nash is designed as a decentralized exchange instead. The beta exchange and app offer self-custody options, and the new browser extension for the exchange has already been installed over 50,000 ties. While the extension lets users pay sites that are compatible with the NashPay protocol or dApps, it also offers itself as an identity management system.
“Nash provides a global web based and mobile platform that allows users to easily trade, pay, and invest on digital assets and currencies without having to master blockchain terminology while keeping the security and economic properties of the assets via self-custody solutions.”
Nash also offers funds management solutions, solving problems with self-custody through the use of advanced cryptography. With this system, even without a full understanding of blockchain technology, users can still trade, pay, and invest with multiple assets. Now, Nash has to work on creating a brand that performs with enough accuracy and security that its user base can expand.