Mark Kofelski

A token swap is not just a change in the name of a trading operation, since the replacement of a token directly affects the operation of the cryptocurrency blockchain, and coin holders must perform certain actions. For example, if an investor keeps his tokens on the exchange, then the trading platform itself can perform all exchange procedures for the client.

The exchange of tokens as a mechanism for transferring cryptocurrency from one blockchain to another has its key characteristics:

• transaction speed is predetermined;
• a proportional ratio of new and old coins is established;
• the terms of the exchange are clearly indicated;
• as a result of the swap, the old tokens become invalid.
• Such migration leads to the fact that there is a transfer of investment capital to another network.

With the help of blockchain technology and the use of tokens, companies can provide their services using their own coins. However, developing your own network is a costly process and often causes a lock-in problem where a business wants to issue its own tokens to fund the development of a blockchain, but issuing coins requires the creation of a separate blockchain. One of the effective solutions to the problem is to develop tokens on the existing blockchain. In this case, you will be able to issue coins to raise funds for the development of a crypto project and at the same time create your own network.

When your own blockchain is ready, you need to transfer tokens that work on someone else's blockchain to it. In this case, they resort to the token swap procedure, which is characterized by certain advantages for each category of participants in the crypto community:

The opportunity to establish themselves and gain a credibility among investors and community members, as well as provide planned services at the start, thereby contributing to the growth of capitalization and the price of a coin when it is listed on a crypto exchange;

The ability to launch your own token on someone else's blockchain, when there are not enough funds to create your own, and in the future, the transfer of coins to your own network (the situation described above);

You can not be afraid of a temporary freezing of assets, since tokens are characterized by a high liquidity rate and this allows you to earn money from coins even before the full launch of a crypto project.

The crypto industry is closely related to the provision of financial services. Therefore, states around the world are actively developing their own laws to regulate them. The developed countries are trying to introduce the most stringent restrictions. For example, in South Korea, Exchange Bithumb abandon users to withdraw their assets to unverified private wallets.In Great Britain regulators imposed stricter rules for DeFi. And in USA regulator considers stricter regulations on selling crypto assets.

The main mission of the Bank for International Settlements is to support central banks in maintaining financial stability in the monetary system. To do this, the organization provides international cooperation between representatives of central banks, and also acts as the main bank among other central banks.

• Provision of financial services for members of the organization
• Creating a forum for dialogue and international cooperation
• Research and analysis of key issues for a deeper understanding of trends.

1. Bank for International Settlements includes 63 central banks, which account for 95% of world GDP.
2. The head office is located in Basel, Switzerland. There are also two offices in Hong Kong SAR and in Mexico City, as well as Innovation Hub Centers around the world.

As a rule, in all countries of the world, financial services are divided according to the types of organizations that deal with them. So, financial services include banking services, insurance, leasing, brokerage and others. At the same time, the category of microfinance services is singled out separately, which generally copy financial services, but are limited to a certain small amount. All services are regulated by law. In most cases, in order to provide financial services to the public and businesses, it is necessary to pass an exam and obtain a special permit.

1. Distribution - through finance, the gross domestic income is distributed and redistributed, due to which the funds are at the disposal of the state, the municipality.
2. Control - lies in their ability to track the entire course of the distribution process, as well as the spending for the intended purpose of funds coming from the federal budget.
3. Regulatory - state intervention in the process of reproduction through finances (taxes, government loans, etc.). The state influences the reproductive process through the financing of individual enterprises, the implementation of tax policy.
4. Stabilizing - providing citizens with stable economic and social conditions.
5. Fiscal - allows you to flexibly change the tax policy of the state.
6. Stimulating - acts as incentives for the development or closure of certain industries in the economy.

The bank was established in 1930 by the central banks of 6 states: Great Britain, Belgium, Germany, France, Italy and Japan. During the Second World War (1939-1945), the bank continued cooperation between directors from the countries of the anti-Hitler coalition (France, Great Britain and the USA) and from the fascist countries (Germany, Italy). Interested in acquiring goods through neutral countries, Germany did not have enough currency to do so. Therefore, the BIS exchanged Nazi gold for freely convertible currency, which was used for transactions in Sweden and other neutral countries.

In 1974, the Basel Committee on Banking Supervision was established under the Bank for International Settlements, which develops directives and recommendations aimed at improving banking regulation and is working to unify the requirements for financial regulation in different countries. Also, under the auspices of the BIS, there are the Commission on Payment Systems, the Committee on Global Financial Stability, the Anti-Counterfeiting Group and a number of other structures.