We have been scouring online for news of IOTA’s Qubic. Why you ask? We’ll, we want to get ahead of the game, of course the announcement is only 3 days away, but, in order to be at the cutting edge of broadcasting, we need to get this news out to you before then.
IOTA have been pretty secretive about this, for good reason too, as, by the looks of it, anticipation for Qubic is starting to send the value of IOTA upwards. At the time of writing, IOTA is valued at $1.74, up 9.30%.
In a Medium post, at the start of May, a German Computer Science student by the name @micro_hash, has given their input on the Qubic saga, outlining a realistic and frankly terrific of what Qubic could promise to bring.
Titled; ‘How IOTA’s Qubic Might Be on the Verge of Revolutionizing Finance’ Micro Hash believes that Qubic, is the real future for banking, smart contracting and asset dealing. Please have a read of the full post for yourself, here-
So, what is Qubic?
Now, this is speculation and thus, we can’t really say what Qubic will be until after the 3rd of June, however, in the words of Micro Hash:
“This is basically decentralized margin trading without trust and fees. It would mean that all kinds of assets could be margin traded on the tangle and traders who use IOTA as a trading platform, will have to hold their margin balances in iotas. This is real world adoption of the iota token. Traders would have to buy iotas, not because they speculate on the iota price, but because they NEED it as the underlying value carrier to speculate on entirely different assets.”
“Basically, you open an option with another party through a smart contract guaranteeing you that you can convert your “virtual fiat” back to iotas of the exact same fiat value at any point in time, ultimately outsourcing the volatility.”
Overall, we are going to have to wait and see if this is the case. With the announcement due on the 3rd of June, we don’t really have too long to wait now, therefore, you can probably start getting excited.
What’s the take home message from this?
Well, if you’re really interested in Qubic, and want to delve into some well reinforced speculation, head to Micro Hashs’ Medium post. Its conclusive, its educated and actually, it has some solid points.