- Aleks Svetski, CEO of cryptocurrency platform Amber, has written an opinion piece on SmartCompany that was picked up by Yahoo! Finance where he discusses blockchain’s promises of guarantees of security and permanence for digital assets such as cryptocurrency.
- Svetski states that Bitcoin, on the other hand, is not a payment mechanism or a blockchain. It is a reinvention of money. It features a unique database that is both secure & immutable. It differs to blockchain by having an actual currency baked into the protocol.
- Amber is a digital currency exchange, wallet and round up app that has recently crossed the first quarter of a million dollars run through the platform.
Aleks Svetski, CEO and Founder of cryptocurrency platform Amber, has ridiculed blockchain technology for the promises of guarantees of security and permanence for digital assets such as cryptocurrency. It aimed to do this by removing the middle man from the scenario for direct transactions between buyer and seller. According to Aleks, the middle man was not removed but simply replaces by another ‘trusted’ institution, therefore rendering the platform useless and seeming to have broken all initial promises of glory.
He says that its value is linked to the security it provides by incentivizing economic transactions between its participants. It is both an autonomous platform and gives users the opportunity to opt-in and out as they please. It offers society a free, open-source monetary system that is owned by the people, not by a central governing body. Today, bitcoin is a US$150 billion network that moves trillions worth of value around the world every year and looks to be here to stay.
Read Aleks Svetski’s complete opinion piece on SmartCompany here.
Amber is a Bitcoin exchange, wallet & micro-investment app – all in the palm of your hand.
We’re leveraging the world’s fastest-growing and best-performing asset classes to deliver a mobile-first, automated investment platform for the retail market. We’ve chosen to begin with bitcoin because of its inherent asymmetries, open access, security guarantee & the fact that it’s digitally native.
An extremely scalable business model and product, that generates revenue from day one, and solves a problem for tens of millions of people around the world. Amber successfully closed a $1m seed round in 2018, via a transparent equity-based capital raise (no ICO), that including funding from QUT making us the first Bitcoin fintech with backing from a major Australian University.
We’ve built a product, released it to market and have a stable, growing user base – all run by a talented, professional team.
Amber is a rare opportunity to get exposure to this market by investing in the infrastructure, or “shovels” being built on and around the most exciting new asset in the world today.