Streamity is attempting to create a system to support a decentralized exchange, through their platform known as StreamDesk.
They believe that smart contracts can be used to allow the trade between any FIATs and any cryptos without the need of a formal exchange, which will decrease the exchange fees given to users.
There will still be fees, but much lower than the other big name exchanges out there.
Their token, STM, will be used to help facilitate trading so that commission rates are decreased. This system sounds a lot like Kucoin or Binance, in that both have their own token that helps cut down on rates.
Decentralization highly benefits trading, but the token system is troublesome, as is the fact that there will still be fees to conduct the exchange which is supposedly P2P (although it looks from their site like commissions will only be as high as 2% of the sale with crypto, and could potentially be 0 for FIAT, sometimes).
That being said, decentralized exchanges are coming, one way or another, and the first few that take off are going to be big experiments, just like this.
Will Streamity work? It could, but as with any ICO, it could also be a giant scam-ball that goes down in flames after a small period in time.
Will I be using it? Probably not, at least until I see it running for a while. I don't know the names of those involved, and when it comes to exchanges (even supposedly decentralized ones), I only look into them if these conditions are met:
Will it attract FIAT if it runs smoothly?
Yes. This is where you should be paying attention.
With tax laws advancing across the world to take away from the crypto pie, decentralized exchanges, especially those that are P2P, and especially those who don't require identity checks or keep records, will most likely get a lot of buy-in.
With increase FIAT comes an increased market cap for crypto. If decentralized exchanges allow users to throw their hard earned cash into some digital 1s and 0s, we could see some interesting price movements in crypto-land.
For this reason alone, you should take a look at StreamDesk. Even if you don't use it, it could leave some waves in the industry. First adopters might make some solid cash holding onto that STM token if things take off, eventually, but you have to decide if the ICO is worth the risk for you.
All images taken from the originalworks contest article, here, which were most likely taken from Streamity's website, here.
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