Radioshack adopts Defi in its latest iteration – Bitcoin News

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Electronics-related brand Radioshack announced that it will now switch to a cryptocurrency-centric model. The company stated that its focus will be on “bridging the gap” and introducing cryptocurrency into mainstream use. This is the latest version of the brand’s story, which was known for providing retail-level electronic products in the 70s and 80s.

Radioshack launches Defi business

Radioshack is a 100-year-old brand that was associated with consumer electronic devices and personal computers in the 70s and 80s, and is now shifting its business to a cryptocurrency model. data The company provides. The mission of the company’s new iteration is to “bring cryptocurrency into the mainstream.”

To this end, Radioshack will first launch a decentralized exchange or “exchange” to allow its users to exchange currencies for others without registering on a commercial exchange. Radioshack explained that the back end of this work will be provided by a partner agreement called Atlas USV. The company estimates that this partnership will allow this new swap to provide traders with less slippage because the exchange is expected to use its own liquidity model.

If launched, the exchange will have its own native token, called RADIO.

Fell to the ground twice and resurrected

Radioshack’s encryption road follows the company Archive It filed for bankruptcy protection twice in 2015 and 2017, and released the last green number in 2011. However, the brand was resurrected and acquired last year, becoming part of the brand portfolio in the hands of two investors. Alex Mehr and Tai Lopez acquired the brand, and they are now investing it in this new focus based on cryptocurrency.

Investors announced when they acquired the brand that they had no intention of reviving the old e-retail business, aiming to transform Radioshack into an online market. Mel declared:

We bought raw materials to build a large enterprise. Brand means trust. And this brand is very, very strong. I have quantifiable data showing that the brand is very strong.

Radioshack is not the only traditional company that has recently switched to encryption.Kodak, a photography-related brand, also produced cryptocurrency bet As early as 2018, when it announced the launch of its own token, Kodak, the token will be used to allow users to register their photos on the platform and allow them to be used for other purposes. However, this transition was short-lived, and Kodak coins were never launched.

What do you think of Radioshack and its transformation to cryptocurrency? Tell us in the comments section below.

sergio@bitcoin.com'

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom at the social level, he offers a different perspective on the success of cryptography and how it can help people without bank accounts and underserved people.

Image Source: Shutterstock, Pixabay, Wikimedia Commons



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