WAX President Malcolm CasSelle recently blogged about the future of his company and it’s tokenized assets. His vision of the company is one where the virtual game assets, tokens, can be strengthened within the marketplace of digital tokens as well as expand beyond the games to physical assets.
One of the biggest challenges, he acknowledges, is keeping the assets tied to the tokens on the blockchain. At WAX, they use an oversight system based around Transfer Agents, Guilds, rating systems, and a dedicated proof of stake consensus algorithm. The Guild has the power to ensure Transfer Agents do their jobs correctly. If not, token holders will have the power to un-elect any Guild members, thus forming a closed loop which keeps the entire system secured.
With the economic systems secured, CasSelle predicts that tokens can become the newest way for collectors and enthusiasts to own fractions of major memorabilia such as James Bond Aston Martins. Also, with rarely transferred physical assets on the exchanges, there would be a buffer effect against devalued virtual assets, which are traded very frequently. The higher the security and the reputation, the more those assets will open up to online currency.
Malcolm CasSelle is the president and CIO of WAX. He has made several television appearances to promote the many benefits of the WAX exchange program, which allows anyone to create online tradeable marketplaces without buying into their own private security and transfer protocols. He frequently blogs about changes and new trends in the cryptocurrency business.
Malcolm CasSelle has an impressive resume as an international entrepreneur. He was the CTO and President of New Ventures at tron, Inc and a Senior Vice President of SeaChange International. He has founded and led other digital media companies in addition to WAX such as MediaPass and Xfire. CasSelle’s early investments have included major online powerhouses like Facebook, Zynga, and now many Bitcoin operations.
CasSelle was born in Allentown, Pennsylvania. He earned his Computer Science bachelor’s degree at MIT and continued his studies with a graduate degree from Stanford University. He can speak both Japanese and Mandarin. He has been working in the cryptocurrency industry since 2012.