What is CRYPSA?
The Cryptocurrency Standards Association drafts, coordinates, reviews and publishes the standards that makes digital currency safe for consumers and businesses. We’re securing a stronger standardized cryptocurrency community for all.
In the future, we will offer reference platforms, application programming interfaces, training, and certification to help businesses and financial institutions launch safe digital currency services.
Why should I become a member of CRYPSA?
Members give CRYPSA direction and propose, review and even draft the standards that business, banks, Bitcoin wallets and consumers use every day to move money around the world.
As a member, you have the opportunity to make a real difference, and business members have even more opportunities because they are more involved. The diversity of languages, experiences and customs mean that CRYPSA members can develop opportunities before other organizations are aware of them.
Members also benefit from access to webinars, special events—all for free or at a significantly reduced cost.
Information and opportunity give members a greater chance to succeed with their ventures and activities.
How will standards help improve the use of cryptocurrencies?
Standards bring trust to modern payment mechanisms. Because they build on the past experience of many architects, coders and users, standards reduce vulnerability to threats. They also make it easier to measure and define risk.
By giving buyers and sellers the tools to avoid fraud and conduct transparent exchanges, cryptocurrency users enjoy the benefits of a safe, free market economy.
Standards are not laws. They are voluntary, but can be verified throughout a transaction. Laws are imposed, while standards combine a pre-defined agreement with a verifiable process. Bitcoin is a set of standards. Without standards, there could be no digital currency and no Internet.
What is cryptocurrency?
A p2p (peer to peer) cryptocurrency, like Bitcoin, is a medium of exchange. Like a credit card, it does not require the parties of a transaction to meet. But unlike a credit card, it does not require any central bank or authority, has little or no fees, is more private, and—with the addition of standards—it is safer than cash, credit cards or bank guarantees.
Cryptocurrencies are an asset backed by encryption and underlying mathematical formulas rather than a government, bank or personal guarantor. Unlike human institutions, math is a pure truth. It isn’t tied to any geography, doesn’t lie, inflate itself, or use debt to effect political policies.
Most cryptocurrencies use peer-to-peer technology such as the Blockchain. Transactions are processed and verified instantly by a vast user community. Because it is decentralized, it is free from arbitrary government interference. The sender and recipient are in control of their money.
Do we have any standards at this time?
Satoshi Nakamoto, the pseudonym used by Bitcoin's creator, established 4 basic principles or standards that are in use by most cryptocurrencies and blockchain technology applications:
Freedom, which means that it is open to everyone'
Equatilty, represented by its Peer to Peer, descentralized nature;
Transparency, as exemplarized y the open ledger technology that we call the Blockchain; and
Privacy, which is implemented through the use of pseudonyms and passwords (alled public and private keys).
In addition, CRYPSA members are discussing how to standardize the way we deal with global anti-money laundering legislation and other legal requirements so we may face centralized authorities with a strong united voice. In this effort, CRYPSA maintains its members privacy by only requiring an email for individual registration, utilizing technology to avoid fraudulent misrepresentations that could harm our community.
Frequently Asked Questions
CRYPSA is a member based organization with the mission of bringing stability to the chaos of creating a new industry, bringing many individuals, opinions and skills to create "One Voice, Many Solutions" and .many opportunities for innovation, success and revenue.
FAQ as prepared by Brandon Rosario, of La Guardia Community College (2014) and updated by CRYPSA.