Mar 21, 2019 23:30 UTC
Mar 23, 2019 at 11:14 UTC
CEO Of Omega One Talks About Launch Of Dark Pool Tech
In a recent interview with Bloomberg on March 21, the CEO of Omega One Project, Alex Gordon-Brander, made a lot of interesting remarks about the future of blockchain and cryptocurrency.
Alex was there discussing the launch of the dark pool tech in Omega One, which according to him has been long overdue. Seeing how dark pool tech has taken off in the equity market, it was a no brainer for the company to eventually introduce it in the crypto space.
So what exactly is a dark pool?
A dark pool is a private securities exchange of sorts, where trades of any size can be executed at a market-weighted midpoint price. Investors can remains anonymous and avoid losses due to slippage costs, which is done by lowering the impact that large orders have on the market price.
“Dark pools matter so much for crypto because they act as a central warehouse for liquidity, and connect the broad array of fragmented exchanges and OTC desks across the globe into a single hub. In turn, Omega Dark allows participants to cheaply and discreetly balance liquidity against each other and against market makers and hedge funds, creating a win-win for everyone.”
If indeed this is the case, then it comes as a surprise that Omega Dark is just now experimenting with the tech. However, their dallying is probably because of how difficult it is to get a regulatory go ahead for this tech in many regions. Which is why Omega Dark is the first such digital asset exchange to be granted a provisional license in Bermuda under the new Digital Asset Business Act.
On the context of blockchain and cryptocurrency’s future, Alex can’t possibly imagine a world without them in the years to come. He said to Bloomberg:
The important thing to look at is in the next ten years we will see stocks, bonds, FX, real estate, all the assets traded on legacy platforms to move over to the digital asset space.
We now wait to see if more companies experiment with dark pool tech in crypto.