Timechain is a promising project by a Montreal-based blockchain development team. Its goal is to make trading simpler and more streamlined for crypto enthusiasts and first-time users.
The platform is aiming to become an all-in-one solution to buy, sell, exchange and hold cryptocurrencies. Typically, cryptocurrency investors require several apps to manage their assets. By integrating all these functionalities into one app, Timechain would solve crucial usability issues with cryptocurrency, making digital asset management easier, and reaching a wider market of new cryptocurrency users and investors.
Three core features
Timechain will offer the following features:
MetaWallet: an application to store all major cryptocurrencies and most minor ones. The Timechain wallet will allow users to create multiple same chain wallets and categories to ease management.
Fiat-to-crypto exchange: the purchase and sale of cryptocurrencies from Canadian Dollar (CAD), U.S. Dollar (USD) and other fiats.
Crypto-to-crypto exchange: a platform to exchange one cryptocurrency for another.
A focus on KYC and AML
An important aspect to note: Timechain will be fully regulated in Canada and will seek regulatory approval in all major global financial markets, being conceived to comply with local financial regulations, licenses, Anti-Money Laundering (AML) frameworks, Know Your Customer (KYC) processes, and Suspicious Activity Reporting (SAR) procedures.
A minimal viable product is slated to be released in Q4 2018, while a major release is expected in Q1 2019. Timechain is currently holding a private token sale for accredited investors, and will hold a public ICO in Q4 2108. It expects to raise US$40 million.This is more good news for the rising crypto and blockchain ecosystem in Canada.
The information provided in this article does not constitute investment advice, financial advice, trading advice or any other sort of advice.
Written By: Phil Siarri
Phil Siarri is an innovation management professional and fintech observer. He has been selected as one of Canada’s top 40 social influencers in finance, innovation and risk by Thomson Reuters, as well as top 50 fintech influencers in Montreal by FinFusion.