Local Coin Swap – The Community-Owned P2P Exchange
In a potential game-changer for cryptocurrency, a team of Blockchain experts have gotten
together to challenge the very concept of decentralization.
Many existing exchanges claim to be decentralized. However, all they really do is reduce the
risk of hacking, by allowing users to hold their funds outside of the website.
“This is a positive step for exchanges to take”, explains Nathan Worsley, LocalCoinSwap Chief
Technical Officer – “But this isn’t actually decentralization. This isn’t what Satoshi Nakamoto first
envisioned as a replacement for traditional financial systems.”
Launching their presale on the 15th of March, the LocalCoinSwap project is the first ever
exchange to decentralize 100% of the profits, sharing them back to investors.
As of writing, all of the biggest exchanges are run by small groups of millionaires, who take all of
the trading profits for themselves.
The LocalCoinSwap team favours a different approach. The project aims to break the giant
monopoly model which currently dominates the marketplace, by using a specially designed
token called a ‘Cryptoshare’ to decentralize both the profits and the decision-making process.
“We believe that the centralization of profits is the biggest flaw in the current crypto-economy.
There is something fundamentally broken, in that we are seeing the worst elements of
mainstream finance still present in the digital economy. These monopolies is what the
technology of decentralization is supposed to address”
“So we are putting up a fight, and disrupting these outdated practices. We are creating an
exchange that serves the community, is owned by the community, and is even operated by the
community. LocalCoinSwap will be the first step in fixing these systemic issues holding back
cryptocurrency from truly changing the world.”
Certainly a visionary group of developers. It will be exciting to see where this leads.
The LocalCoinSwap presale launches on March 15th with a 40% bonus for investors. The
regular ICO is launching on April 15th. To read their whitepaper and subscribe for the latest
updates, visit their website at www.localcoinswap.com