Crypto is maturing quickly: how Gemini is legitimizing the sector
As the cryptocommunity struggles for the rights and injustices of Binance’s decision to eliminate Bitcoin S.V, one of the exchanges, Gemini, has further established its credentials as an unconditional for trust.
As the first major exchange to support SegWit, Gemini Exchange has demonstrated its desire to advance the encryption agenda for the greater good. With that in mind, the Winklevoss twins deserve credit for their enlightened and intelligent approach.
Launched in 2014 by the Winklevoss twins, Gemini has led the way in terms of regulatory compliance and establishing trust within the community.
As a company regulated by the New York State Department of Financial Services (NYSDFS) and the first licensed exchange of Ether and ZCash, it is clear that Gemini is about establishing legitimate links between the ancient world and the new. His motto “the most reliable way to buy and sell cryptocurrency” is a testimony of how they do business, that is, according to the book.
Gemini, wanting to demonstrate this business philosophy, launched an advertising campaign at the beginning of the year. It featured several prominent ads on subway cars, taxis, buses, bus stops and even a full page in the New York Times. His message was clear, to assure non-coiners that Gemini is not an “anything goes” company. Speaking to the Wall Street Journal, Gemini’s marketing chief, Chris Roan, reported the following:
“We believe that investors who enter the cryptocurrency deserve exactly the same protections as investors in more traditional markets, who adhere to the same standards, practices, regulations and compliance protocol.”
In addition, as the consequences of Bitcoin S.V continue to divide the community, it is reassuring to know that there is still a sense of guardian ship with in the community. Commenting on the situation, Tyler Winklevoss noted that Gemini’s list is based on merit. And not in short-term monetary gains.
In line with its forward-looking approach, Gemini is the first important exchange to support SegWit. In an article published on Medium, Gemini software engineer Brian Kimjohnson talked about the timing of the launch:
“We believe that SegWit will become the standard, and in doing so, it will create extensive benef its for all participants in the Bitcoin network, given the level of community adoption and ecosystem support, we now recommend that all Gemini customers use SegWit addresses After extensive testing and development, we know that launching SegWit support is the right decision for our customers at the right time”.
He will defend the benefits of SegWit, while hinting that it is the launch pad for even bigger things:
“Our team sees SegWit as a positive step forward for cryptography and the broader future of money. As the use, support and adoption of SegWit grows, it will help reduce rates, waiting times and network congestion. Critically, SegWit transactions lay the foundations formore advanced technologies; of which the Lightning network is the best known”.
And while SegWit is far from being an industry-wide standard, this movement goes some way to address Bitcoin’s short comings as a first-generation technology. Consequently, it can only be deduced that the Winklevoss twins believe that there is only one Bitcoin.
Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.