Advertisements

ICO-Funded Decentralized Crypto Exchange Caught Plagiarizing Whitepaper

Some on Bitcointalk have concluded that decentralized crypto exchange Localcoin is a scam because they’ve conclusively found that their whitepaper was plagiarized. This hasn’t stopped projects in the past. In a post last month, user ICOEthics raised the alarm and published his findings.

EVERYONE POINTS THE FINGER AT EACH OTHER

A Localcoin representative responded that the company had outsourced their whitepaper. The intent was to explain the derivation of the plagiarism, but it opened a new can of worms. The contractor says that the original whitepaper materials were furnished to them by Localcoin – meaning that Localcoin did the plagiarism.

In a follow-up post, the Localcoin representative posted screenshots of his latest conversation with the apparent author of the whitepaper.

An allegation emerges that Localcoin owes some marketers around $15-17,000.

CCN attempted to contact the apparent whitepaper author, Dexter, but while he read our request for comment, he chose not to respond.

Localcoin's apparent whitepaper author didn't feel like commenting.

Localcoin’s apparent whitepaper author didn’t feel like commenting. Source: Telegram

The questions raised throughout the thread go much deeper than simple plagiarism though. We have to wonder why this project is worth anything if the majority of it is outsourced. Localcoin is an apparent fork of Bitshares and a reboot of a previous attempt at Localcoin.

We’re going to leave out judgement on who was plagiarizing who, or what the real story is here. We reach the same conclusion as one poster on the topic:

“So, we do point the finger to the plagiarized whitepaper owners. We opened this thread so you can discuss and provide evidence to your public and investors and try to convince them that it is not “your fault” and you are “not responsible” for that plagiarized whitepaper. If you wrote or someone else wrote the whitepaper for you, in the end, your company/project is the only one responsible for everything.”

REAL DECENTRALIZED EXCHANGES ARE NEEDED MORE THAN EVER

What’s really at issue with the Localcoin fiasco is the desperate need for reliable decentralized exchanges, and the fact that it is apparently not going to be one. There is some speculation, based on the following screen capture, that the entire project may actually be just one guy.

It's possible that the project is just one person who outsourced everything.

Is Localcoin really operated by just one guy, Fluke Hawkins, who outsourced everything? Source: Bitcointalk

The Binance hack demonstrates more than ever that decentralized exchanges are a necessary evolution, even if some very smart people feel that it won’t be enough. Decentralized exchanges at least take the stupid out of it. For hacks of similar size to happen, numerous participants will have to be doing it wrong.

But decentralized exchanges will need to be easy. They will need to be secure at the user level, and operated on secure devices.

The Localcoin solution might almost be there. It offers much more than just trading. Here’s what the application looks like:

The ambitious project could have changed the way people trade. If only it could be trusted.

The ambitious project could have changed the way people trade. If only it could be trusted. Source: Localcoin App

YOU COULD HAVE BEEN A LEGEND, BUT YOU BECAME A FAILURE

Unfortunately, as you can see, the order books are largely empty. Interest in the project has declined and increasingly, chatter around it falls strictly into two categories: discussion about the nature of the promoters, and the promoters themselves.

The Localcoin token plays some kind of role in token launches on the Localcoin platform.

A bad seed doesn’t grow good fruit. If you can’t trust that the code, the ideas expressed in the whitepaper, and so on, are original, is there anything about the project you can trust?

The timing couldn’t be worse for an upstart decentralized exchange. The industry desperately wants a serious competitor to the centralized monsters.

Source: ICO-Funded Decentralized Crypto Exchange Caught Plagiarizing Whitepaper

Advertisements

5 Real Life Blockchain Implementations Outside of Cryptocurrency – Bill Doerrfeld

1.jpg

What do Pied Piper and blockchain tools have in common? Both are always “coming soon.”

By now most of us are familiar with blockchain, the technology underpinning cryptocurrencies like Bitcoin and Ethereum. Outside of cryptocurrency, blockchain has many purported use cases in scenarios that require an immutable ledger.

Rhetoric has elevated blockchain to godly status, labeling it as a bleeding edge technology poised to disrupt all facets of life, from voting, to smart guns, health data, stock trading, international shipping, and beyond.

We’ve seen a ton of other innovative blockchain ideas too, yet many are unproven or simply hypothetical. So, the question is, what projects are successfully implementing blockchain in practice?

In this article we’ll strive to separate fact from fiction by showcasing 5 living projects that are actually using blockchain, with real world results. We’ll gauge the viability of such projects, and see how proven use may affect the global climate and attitude toward blockchain adoption.

1. Arcade City

Peer-to-peer blockchain-based ridesharing

Arcade City is a new peer-to-peer rideshare startup whose goal is to disrupt the disruptor. They’re taking on Uber and Lyft to cut out the middleman and protect driver rights, and they’re basing their platform on the Ethereum blockchain.

Many drivers have had negative experiences using Uber, and Arcade City aims to alleviate those issues by giving them complete autonomy. Arcade City drivers set their own prices, accept their own form of payment, form guilds with other drivers, and can have open conversations with users within the app.

Available only in select cities worldwide, you can download the Arcade City app on the App Store.

2. Helperbit

Humanitarian fundraising vetted with blockchain

Helperbit is a fundraising site that emphasizes philanthropic global initiatives that increase well-being in foreign countries.

Current projects range from natural disaster relief, clean water for African communities, helping educate children in Papua New Guinea, to even a North Pole exploration.

Tying each donation to the blockchain helps increase economic transparency. As corruption in charity and insurance is an unfortunate reality, Helperbit aims to bring fundraising power straight to the people through decentralization.

3. Boeing

IoT-driven blockchain unites assembly line operations

It’s not just startups and nonprofits excited about blockchain. Aviation engineering behemoth Boeing is already integrating an IoT-driven blockchain into their engineering operations.

Building an airplane takes hundreds of thousands of components, and tracking them throughout the build lifecycle can be a nightmare. Using an IoT-centric blockchain, “Boeing holds complete provenance details of each component part.”

This helps by increasing transparency between multiple groups in the production process: manufacturing teams, aircraft owners, maintainers, and government regulators. In addition to optimizing engineering efforts, their IoT blockchain benefits issue resolution by minimizing aircraft turnaround time.

4. Medicalchain

Digitize health records and share access on the blockchain

Healthcare needs a kick in the butt. Not only is cost staggeringly high, but the industry suffers from improper diagnosis, terrible user experience, and continual patient safety concerns. Much of this can be fixed through improved data usage.

Medicalchain aims to use blockchain technology to securely store medical records. Using a distributed ledger for healthcare is a godsend as it allows doctors, hospitals, laboratories, pharmacists, and health insurers to have more immediate access to health records, which could help save lives. Medicalchain ingests MedTokens and is working on a complementary telemedicine platform MyClinic.com.

Granted Medicalchain is in an early stage; it’s still taking on pilot patients and practitioners and must build credibility on both fronts. That being said, it’s a great case study on the power of blockchain to disrupt an inefficient industry.

5. CargoConX

A blockchain for the logistics and transport industry

CargoConX‘s main selling point is allowing shipping logistics companies to “Uberize” their spare capacity in containers. For this to operate correctly, CargoConX uses smart contract technology based on blockchain to increase accountability amongst all partners.

Their CSS Connect API backbone drives six main modules to improve the shipping industry. As their documentation states:

“Smart Contracts between network participants and can guarantee payment via an escrow facility to all parties involved in the shipping journey, this occurs through trigger points and milestones setup in the blockchain Smart Contract.”

In midst of an ICO, CargoConX boasts 10 early adopters (significant for large B2B partnerships).

The Pseudo-Reality of Blockchain

Fortune says “blockchains will change the world,” and there is some truth to that. However, a lot is still untested — the Internet may not be as decentralized as Silicon Valley’s Pied Piper would like.

Don’t believe the hype. Sierra Leone actually did not hold the world’s first blockchain election. And regardless of how cool it sounds, we’re probably not a node in a universal blockchain created by aliens.

No doubt the blockchain buzz is turning heads and there is legitimate action. We’ve seen how multiple industries are implementing it to increase transparency, disrupt competitors, and streamline internal operations. Other credible use cases include smart legal contracts, solar power networks, distribution of government benefits, and digital payments.

Blockchain projects need time to receive funding, acquire users, and build out their platforms before they are evangelized. We’ll just have to wait and see which ones become a proven reality, and what stays as fiction.

 

 

Your kindly Donations would be so effective in order to fulfill our future research and endeavors – Thank you
https://www.paypal.me/ahamidian

%d bloggers like this:
Skip to toolbar