As the old saying goes, it takes a village in order to raise a child. It takes a village to make top blockchain projects like Ethereum and Bitcoin more useful as public infrastructure. These projects’ ecosystems welcome stakeholders from many fields. This is not only because they are open to all, but also because there are plenty of specialist work. Programmers, product managers and lawyers, as well as translators and writers, are all needed in the current “all hands on deck” cryptoverse. It’s not a secret that many blockchain professionals are skilled in designing. Their job is to create the best user experience (UX).
The open-source Bitcoin development company created by Jack Dorsey and Twitter, was still looking for a senior designer. The company stated that anyone who is hired will “help shape how Bitcoin will become mainstream,” back in July. We are still seeking a senior designer to join our team. This position is more than just a product and will play an important role in formalizing how bitcoin interacts with the world. Square Crypto is right to think so: Designers are key to making the ecosystem user-friendly and challenging.
This isn’t a new discovery. It’s just something stakeholders in the cryptocurrency space should be considering. How can we make the public infrastructure more accessible to everyday people from all walks?
The “UX Breakthrough”
Some of the most popular cryptocurrencies, such as bitcoin and ether, already have amazing UX features. For example, you can send money anywhere in the world freely using a text message. There is still much to be done on UX for this new type of money. Experts say that private keys are the most common reason users are turned off by the internet. However, this is not the only area where UX gaps can be bridged.
These gaps can, of course, be overcome with great speed and effort as was the case with the internet. The stakes are high and the clock is ticking. Popular mainstream payment services are becoming more useful every day, and the Facebook Libra stablecoin effort may have shown that international officials might be more uncomfortable with money they cannot control. It is important to work quickly and towards the user. Bobby Goodlatte, a Facebook product designer, stated this week that crypto needs a UX breakthrough.
If this breakthrough is possible, then the top cryptocurrency can give state-backed fiat currencies a run. Pun intended. It’s not a zero sum game, however. It’s not a zero-sum game, i.e. cryptocurrency versus fiat in gladiatorial matches where the winner takes everything. No, cryptocurrencies are already useful and can also absorb traditional assets through tokenization.
The greater the quality of the design work around bitcoin and ether, then the better the chances are that these projects will be able to make further inroads into mainstream technology.It is a great question to ask how to bring more designers into your space. This question has been considered by many in the industry and will continue to be. The results may prove to be fruitful for many years.
Anthony Pompliano, co-founder of Morgan Creek Digital and bitcoin investor, told CNBC that “over time more and more people will choose a currency than a government controls.” Let’s give them the best currency possible.
Oanda’s new pricing model allows clients to choose between core pricing or flexible pricing. Core pricing is now available for 70 forex pairs. Traders will be charged $50 per million in commissions on volume traded at bid-ask spreads as low.10. The old flexible pricing structure remains available. It offers higher bid-ask spreads and no commission. Core pricing does not have a minimum volume requirement, unlike other pricing programs like Interactive Brokers or TradeStation.
An Oanda trader might now be charged EUR/USD spreads as low as 0.10 under core pricing and 0.90 under flexible pricing. Spread minimums will rise to.20 for popular currency pairs such as GBP/USD and USD/CAD. After signing up, existing MetaTrader 4 users will automatically be switched to the new pricing structure. The new market tickers will have a “-5” tag while the original tickers are grayed out.
Robinhood adds two states to its growing cryptocurrency coverage .Robinhood now offers cryptocurrency trading privileges to residents of Alaska and Oklahoma, expanding its coverage to 20 more states. These latest additions are part of a smooth nationwide rollout, which began in the first quarter. 50 states will be covered by the end 2018. Trades in cryptocurrencies are now possible for account holders who have been authorized to do so.
UK’s CMC Markets Expects a 20% Year-Over-Year Drop in Revenue. CMC Markets warns that 2018 spread bet revenue and contracts for difference (CFDs) will drop 20% due to industry headwinds. These include the August implementation by European Securities and Markets Authority rules that have impacted U.K and European trading activity. The company also mentioned low market volatility and range bound markets as reasons for the shortfall. This is a decrease in expectations from a previous disclosure which had predicted a 10% to 15% drop. The broker seeks to reduce losses by forming a partnership with an Australian bank, and adding the MetaTrader4 platform.
This disclosure is the latest in a string of warnings from European brokers about revenue shortfalls due to new regulations that dramatically lower forex leverage and place a number of restrictions on CFDs. The recent warning by IG Group and the subsequent stock decline may have cost CEO Peter Hetherington his job. Hetherington, who was a London-based executive for 24 years, left the firm last week.
Prime Program Capabilities
Finance Magnates was interviewed by Itai Sadeh (vp of corporate development, iFOREX Prime) about iForex’s prime brokerage software. He discussed the challenges faced by forex broker profit models due to newly implemented ESMA regulations. He highlighted features that include a robust database with extensive sales, retention, and compliance capabilities, as well as a sophisticated lead generation management system and FxNet proprietary trading platform.
The executive summarized his presentation by stating that “the entire industry has had to navigate through uncharted territory and challenging times” and that, despite 2018 being one of the most difficult years in recent memory for brokers, iFOREX Prime believes that adaptability is key to a broker’s survival.
Dukascopy Bank Will Offer Self-Titled Crypto Products. The Swiss Financial Market Supervisory Authority is approving two new cryptocurrencies for Switzerland’s Dukascopy Bank. Dukascoins are possible to be built on the Ethereum blockchain. They will increase the use of mobile accounts and the Dukascopy Connect 911 messaging service, which encourages transactions between Swiss and foreign customers. Dukasnotes will be a stablecoin that can be converted into traditional currencies, according to the bank/broker. The company did not provide any timeline for the rollout.