It all comes down to how open these networks are and whether or not they have sufficient smart-contract / scripting capabilities, Libra, central bank digital currencies, etc… If they’re open then Nash will be able to take advantage of that both for the exchange and Nash Pay, China’s digital Yuan looks to be quite closed so that’s off the table for Nash, hopefully we have more luck with the others.
there are bigger ones … although small now … they exist and are being built
also open to connect to
OKex CEO gave an interview and stated DCEP has smart contract abilities.
As seen from its latest disclosed patent, DCEP is integrated with asymmetric cryptography, unspent transaction output (UTXO), and smart contract technologies. However, consensus mechanism, which is the key of public blockchains, is unlikely to be adopted.
Doesn’t exactly sound like its “Open”
there doesn’t currently exist a fintech platform with a billion users, here’s hoping Nash is the first.
Well, to get a billion users, you just have to have someone make a purchase or sale via Nash Pay once. Not all of those billion users will be frequent users.
Ren was first Republic Protocol, that did a ICO on 1st of February 2018.
It was going to build a DEX and darkpool called RenEx using secure multi-party computation.
It launched RenEx on October 2018. With no traction it dropped the project and pivoted in 2019. During its pivot it promoted WBTC and TUSD as its BTC and USD peg.
Finally it got rebooted as Ren, and re-focused in a new network to create pegs - the RenVM. Which is expected to be release to mainnet this year.
There is a strong competition on the blockchain interconnection space. Ren is not building a product for users like Nash anymore, but a product for developers building user facing products. Users will likely have to KYC on exchanges using Ren, but that is not Ren competency.
So it is not a competitor to Nash, it is an alternative technology for linking networks that Nash has already solved with internal technology, we are happy with the performance of our state channel system and see no reason to pay fees for the Ren network.
100% the answer I was looking for, thanks for the reply!