Cryptocurrency ecosystem reconceptualizes how money is being transferred, spent, invested

Despite Bitcoin's (BTC) ups and downs, the asset has continued to outperform all other assets. Money aside, cryptocurrency's underlying technology, the blockchain, has also proven to transform the world of tomorrow with new ways to guarantee asset authenticity, exchange funds and encourage financial inclusion. Unfortunately, looking at the individual parts, including the technology, exchanges and NFTs, few see the total value of the ecosystem.

At present, the industry is fragmented by several offerings that, although powerful, only display utility for one problem plaguing the industry. The result is that when infrastructure providers come together to form a larger ecosystem, users can see the value of the sum.

Wohlstand Global is a privately held company operating in brokerage, asset management and technology. Recognizing the potential held in digital assets, Wohlstand started its ventures into cryptocurrency.

Now operating in the digital currency space, the company has grown from a small trading desk into an entire regulated FX house and a surrounding ecosystem. The Wohlstand ecosystem now includes its own blockchain, crypto exchange and an NFT marketplace. With over 25 years of experience and expertise in the financial industry, a large portion of which came from the FX markets. 

Now registered as UAB Denvista at Vilnius, Lithuania and operating with its office in India, Dubai, Mauritius and partner offices globally, Wohlstand continues to demonstrate the sum value of blockchain technology. Connecting each use case and calculating all revenues and values of products in the ecosystem is the Wohlstand Token (WT), the platform's native currency.

A sum of the parts

Looking at the pieces of the ecosystem, users will come across the Wohlstand Crypto Exchange (WCEX). WCEX is a digital asset exchange platform that enables users to trade, swap, stake and explore new projects through a launchpad. The exchange runs on a website and an app that lets users convert fiat currencies into a cryptocurrency of choice. As a digital exchange, the platform is available to users 24/7, offering additional benefits such as anonymity and low fees. WCEX will be supported with the Wohlstand blockchain, a public, standalone Ethereum (ETH) compatible blockchain.

With the Wohlstand blockchain, users can build their decentralized applications (DApps), release tokens, mint their NFTs, and bring new concepts to life using WDK (Wohlstand Development Kit). The code is implemented in GO and is an original fork of Ethereum. At present, Ethereum struggles with high transaction times and slow blocking time. The Wohlstand blockchain addresses both of these concerns to lower costs, increase speed and add a controlled layer of security to the present-day system. 

However, one of the blockchain's main features is its support for DApp development. With access to WDKs and other tools, developers have what they need to begin building other business-specific decentralized applications. Since DApps run on a peer-to-peer (P2P) network, users can interact with all offerings free from intermediary control and interference by a single authority.

The ecosystem further extends to the Wohlstand marketplace, which is a platform to trade virtual items and other metaverse-building technologies. Effectively, this will bridge the gap between real and virtual worlds that brings together multiple metaverses for brands, video games, sports organizations, broadcasters and all kinds of entities. The marketplace is joined by Wohlstand CEX Borrowing and Lending in the pipeline, with more details to be shared with the community in the near future.

More listings to come

The project team has shared initial success in launching the Wohlstand exchange, as indicated on the project's roadmap, on route to their mission of making cryptocurrency accessible to everyone. 

To achieve this, Wohlstand continues to take steps to reconceptualize how money is being transferred, spent and invested. These steps become evident in the project's 2022 Q2 and Q3 plans, which include engaging top influencers in marketing their public sale, additional listings in Tier 1 Exchanges, the first quarterly burn and the release of the Wohlstand Blockchain Testnet Live Staking Platform.