The ShapeShift decentralized cryptocurrency platform has announced the launch of its new membership program which will soon become compulsory for all its members.
The new program highlights the company?s decision to move towards that membership model, thus meaning the end of its anonymous model which requires no registration. Erik Voorhees, the CEO of ShapeShift revealed in a blog post that the new model will initially be optional but ShapeShift plans to make it mandatory further down the road.
ShapeShift decided to introduce the membership-based service model in response to demand by customers who want an experience that will allow them to keep up with personal details such as transaction records. Voorhees also pointed out that taking a membership approach will also make it possible to introduce tokenized loyalty rewards while also allowing customers to enjoy a better user experience as well as better pricing.
?The practice of requiring customers to hand over personal private information is one we?ve struggled with since inception,? Voorhees confessed in his statement.
Users not pleased with the mandatory requirement
The ShapeShift CEO also added that the new approach makes sense as far as handling legal matters is concerned. However, some users have criticized the platform for the decision to make the membership program mandatory. It makes sense that some users are not satisfied with the decision because some of them are happy with not having to create an account. Some of them have even threatened to leave the crypto trading platform. However, the company is interested in maintaining uniformity in its services and it believes that the move represents the best way forward.
ShapeShift has been in the cryptocurrency market since 2012 and has grown to become one of the most respected platforms in the crypto community. This is mostly because the platform is focused on anonymity and this is why some users are not happy about a mandatory membership program. Once the program becomes a requirement, then it means the platform will be recording user data. Users will also be required to authenticate their accounts in order to enjoy the services offered by the cryptocurrency platform.