Blockchain tokens platform WAVES and bitcoin wallet provider Mycelium have announced a shared roadmap for the implementation of custom assets circulation over blockchain, following their strategic partnership announced in May this year.
Mycelium Wallet environment will support the issuance and distribution of various digital tokens that will represent the broad range of assets including major fiat currencies.
“Mycelium and Waves teams wield complementary knowledge bases and a significant technological overlap”, the blog post read. “The synergy effect of the two platforms merged will demonstrate itself as soon as September 2016 when first custom token realization should occur”.
Waves is a new blockchain platform focused on custom token creation, transfer and exchange. Blockchain tokens constitute fiat currencies, financial instruments, vouchers, marketing bonus points and other items of value. It aims to make it possible for traditional financial institutions to issue and support blockchain tokens representing national currencies and financial instruments. Waves platform develops a “trustless” token exchange that will enable decentralized trading directly on the blockchain.
Mycelium is an innovative payment platform that combines blockchain technology with traditional national currency payments. On top of its flagship mobile wallet product, Mycelium offers payment processing (Mycelium Gear), cold storage (Mycelium Entropy), and a hardware storage/payment solution (Mycelium Card).
Waves tokens will travel over the network of Mycelium Cards — hardware wallets of the regular ISO ID1 size with wireless units, keypads, rechargeable batteries, and displays on board. Each card is the wallet and POS terminal in one. Cards perform peer-to-peer connections that will later upgrade to full-scale mesh-networking.
“Mycelium and Waves share a vision of blockchain-enabled fiat transfers actively supporting national currencies as a primary value transfer medium. The blockchain-based approach will enable a relatively cheaper cross-border remittance, convenient handling of everyday bills and other simple consumer benefits”, it added.
In addition to using tokens backed by financial institutions and other third parties, Mycelium Wallet holders will create their individual proprietary tokens of any kind. They will able to assign various values and senses to those digital assets, transfer them to fellow users, and even trade them against government supported fiat currencies.
