CryptoBridge, a gateway for decentralized exchange BitShares, announces that as of this month its users will have to undergo mandatory identity checks.
Bitshares is a decentralized exchange platform that aims to get rid of the need to convert coins to fiat money losing your anonymity. The way of making it real for Bitshares was to establish a cryptocurrency with the value pegged to a real-life asset.
Pegging BitAssets (BTS), Bitshares currency, to fiat money, does not just fix anonymity problems, but also helps with elimination of price volatility - trouble, very common for most of cryptocurrencies on the market. It helps to hold your investments in stable assets during the periods of volatility without the necessity of transferring your money into the fiat paying fees and losing anonymity. BTS is built on core of Graphene high performance blockchain meaning it is capable of operating near 100000 transactions in the future.
Those features may give Bitshares an opportunity to take a part of the market share from traditional institutes.
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