Current situation within crypto market could be described through lack of trust from high rollers to get into the crypto and these stakes are missing to lead a general adaption of crypto currencies within population. In some countries, process of crypto regulation is started, but within countries that are financial centres, interested for regulation is lowered because regulation of crypto currencies will decrease power of central government in regulation of financial markets, since crypto currencies are the way to decentralized and non-centrally controlled market. This creates space for a lot of fraudulent behaviour on the market and large players do not want to get into. Security is needed for every participant in the market, and for large players, security is critical for investment. Here, of course, we are talking regarding security from frauds in the market and un-regulated stealing of cash by hackers and other vigilant agents in the eco-system. Three main issues identified in crypto industry include mentioned frauds and hacking, but also risk management, since the industry is not mature and volatility on the market is still high, with +/-5% changes very often present on the market. That is not suitable for large investors and additionally custody for crypto assets is on the low level, it is not graded for professional industry players, since there is no possibility to change the immutable blockchain and revise steal that happened due to password fraud.
Beside mentioned issues, there is a fragmentation issue that is related to all crypto assets, one needs several different wallets to have access to his assets, which is not comfortable and different for usual aspects of financial transactions that are widely adopted in financial ecosystem. On the other hand, having several different wallet is rather complicated for general user to have. People used to it, and it is easier to have one wallet instead of bunch of them, and exchange is the only way to have your funds on one place, but also there is only few exchanges that are covering all cryptocurrencies, or just all major ones. So, there is a lack of sophisticated platform and comprehensive solution.
One company that is aiming to provide solution for above mentioned issues, but also to provide security focused crypto finance ecosystem that will allow large players to introduce themselves on the crypto market is Velic. Velic shall include Asset management, Loans and Vault services within the provided services for market, through proprietary security protocol and integrated crypto currency exchange. All services will be offered through Velic integrated account.
Within Velic platform, there will be three tokens present, VELT or Velic token, that will drive Velic ecosystem and will be mineable through the platform, popularized used for transactions within the ecosystem, in the form of reduced fees. Beside VELT, there will be VELA that will be used for long-term storage of welt in the ecosystem, and VELD that will present stable-coin and will not be pegged to VELT or VELA.
Initially, it will issued 15 billion tokens, 90% will be allocated for mining purposes, 6% for private and public sale, with daily total mineable token amount fixed. Exchange launch is planned for Q1 2019.
Project website: https://www.velic.io/
Velic account: email@example.com