The motivation behind the QASH platform is to help unsuspecting cryptocurrency investors, traders, and issuers of crypto tokens or coins from becoming the target of the numerous scams orchestrated by cyber criminals on the internet. The QASH official website notes that crypto market participants have been scammed out of millions of dollars, largely due to the lack of adequate security measures. The developers of the platform point out that existing ICOs have not developed a system to secure the process involved with the deposits and withdrawal of funds.
The QASH developers mention that there are a large number of cryptocurrency transactions that take place “without proper KYC (Know Your Customer) checks”. Moreover, the funds transfer process is handled by a few publicly available/announced cryptocurrency addresses. Because these payment addresses are available publicly, bad actors exploit this by providing fake addresses or websites where users either send their crypto funds or enter in private information (SEED/passwords) which is then used by the hackers to steal large amounts of digital currency.
This is actually a very legitimate concern. For instance, the Waves platform provides a user-friendly multicurrency online wallet, but lately there have been a very large number of “mass incoming transfers” from fraudulent websites. When unsuspecting users proceed to follow the links in the transaction details, they are directed to a fake Waves website where they are asked to enter in their private information (SEED). Should anyone do such a thing, they will more than likely lose all their crypto funds.
Instead of trying to focus on informing the Waves community members, investors, and traders about this abuse of Waves public addresses to potentially scam its users, the platform is aggressively promoting its brand by paying for ads announcing huge air drops for Waves wallet users and people who buy Waves tokens. This is NOT the time to be doing these types of things because naive crypto traders and investors, particularly the newcomers, can potentially get scammed out of their hard earned money. It would be better if the Waves developers would shift their focus toward helping to ensure consumer safety and helping their unsuspecting users to protect their valuable digital assets.
QASH Aims to Provide Robust KYC Compliant Security For Crypto Assets
This, apparently, is where the QASH network comes in. The platform’s website states:
“To ensure this does not happen with QASH Token Sale, we have placed stringent, preventative measures to ensure a safe, secure, and compliant process for all token participants by carrying out our Token Sale only through our secure ICO and trading platform, QRYPTOS.”
The platform’s website has a few videos that help explain what QASH and its associated/supplemental line of proprietary products aim to offer. Notably, the videos are very outdated. Viewing the videos does bring to light the current systemic problems in the cryptocurrency market and industry, however, the platform’s claim that the “democratization of finance” has arrived is a bit far-fetched at this point. That’s because most objective crypto experts, like Ethereum co-founder Vitalik Buterin, would agree that the technology behind cryptocurrencies and blockchain is only its developmental/experimental stages.
Moreover, there’s no “revolution” that is upon us yet, as Apple co-founder Steve Wozniak – a big supporter of Bitcoin and other cryptos, has also rightfully pointed out. It’s still very much early days, according to Wozniak, for crypto, but he says that technologies like Ethereum could one day be as pervasive as Apple. Just not right now…
Nevertheless, the QASH platform is worth exploring. Also, this article is not meant to be an exhaustive and comprehensive analysis of this crypto. The interested reader can visit the official communication channels of this platform to learn more.
DISCLAIMER: This article is not meant to influence any investment related decision. It’s purely for informational purposes and to help spread awareness about cryptocurrencies and blockchain technology.