It's hard to believe that it's been a decade since the original whitepaper describing Bitcoin was first released. In the last ten years, the technology has grown from a concept to a global household name. However, the adoption of cryptocurrency technology in the mainstream has been somewhere between slow and non-existent. While there are many reasons why this is the case, the two primary issues involve ease of use and breadth of choices. Coinbask is working to address both of these issues.
First, there are a lot of coins available on the market. How do you choose which ones to buy? If you want to buy a variety to diversify your portfolio, how do you do it and how do you manage the whole collection? That is the point of the basket aspect of Coinbask. By purchasing a tokenized basket of currency, you get the ability to invest in a collection of coins. A more diverse portfolio can mean you can absorb the loss of a volatile coin's price fluctuation.
Second, interacting with cryptocurrency isn't easy. Each platform can require a separate wallet, making the management of a diverse portfolio difficult. With Coinbask, you only need a single wallet to buy and sell a basket. Plus, the process of buying and selling is peer-to-peer, meaning you don't have to wait for hours or days for a transaction to complete. It also means that the process is more secure because you don't have to move your coins from a private wallet to a public wallet, through an exchange to sell, only to be reversed on the other side.
Coinbask is currently in early access and the company is looking for testers. If you want more information on the platform, or want to sign up for early access, head over to the website.
Scott is a developer who has worked on projects of varying sizes, including all of the PLUGHITZ Corporation properties. He is also known in the gaming world for his time supporting the rhythm game community, through DDRLover and hosting tournaments throughout the Tampa Bay Area. Currently, when he is not working on software projects or hosting F5 Live: Refreshing Technology, Scott can often be found returning to his high school days working with the Foundation for Inspiration and Recognition of Science and Technology (FIRST), mentoring teams and helping with ROBOTICON Tampa Bay. He has also helped found a student software learning group, the ASCII Warriors, currently housed at AMRoC Fab Lab.
Daniele is a student at Florida Polytechnic University who is studying Computer Science with a concentration in Cyber Security. In High School, she was introduced to the science and technology world through the Foundation for Inspiration and Recognition of Science and Technology (FIRST), a robotics foundation where students of varying ages can compete through tasks that their robots perform. With help from mentors she met through FIRST, she became interested in programming and developing. Today, Daniele is a special events host for F5 Live: Refreshing Technology and PLuGHiTz Live Special Events and a co-host for both The New Product Launchpad and FIRST Looks.