HAPPY HOLIDAYS!

EVERY CRYPTO ENTHUSIAST'S ESSENTIAL RESOURCE

EXCHANGES
IN THE DECEMBER 2018

CROSSHAIRS
ISSUE 14
US$10

ETHERDELTA WAS FIRST.

WHO'S NEXT?

ALSO

GET IN-THE-KNOW WITNESS THE FORK WARS

DISCOVER GADGETS, DAPPS, SECURITY, AND
LEARN HOW TO AVOID GETTING SCREWED
BITCOIN CASH WAR, BLOW BY BLOW

#THE21
MUST WATCH PROJECTS FOR DECEMBER
 2018: A
FEATURE

CONFERENCE
ODYSSEY
A look back at the best
conferences of 2018, and
what lies in store for the
year ahead

P.109
CRYPTO
FEATURE

UNIVERSE
Track Currencies in A
Digital 3D World

A 3D world where users

can track, understand,
and interact with crypto-
currencies on a whole new
level

P.
102
 EXCHANGES
FEATURE

IN THE
CROSSHAIRS
The SEC already targetted
EtherDelta... what would
happen if a war on all
echanges begins?

P.090
is in partnership with

@XSNofficial

Stakenet.io
LAUNCH P. 012

Trending news, infograph-

ics, and interviews

FUEL P. 031

Fork Wars: Return of the

Harshrate

The Projects that fought

the SEC
We take a look at where they
are now

Crypto & VR- A Match

Made in Heaven
5 VR projects using block-
chain to stay ahead of the
competition

Need a License?
The SEC targets EtherDelta
exchange

Breaking Blockades:
Bitcoin's Censorship
Resistance

Loving the Dollar: Cash,

Bitcoin & Crime
Meet Cecile Baird, co-founder of
Blockchain for Good and Decentrl.
Interview on P. 021
IN THE KNOW P. 079

Unregulated ICOs
In How You're Getting
Screwed

Hardware Wallets #THE21 P. 055

In Gadgets & DApps 21 projects you need to
know about for the month
Decentralized Finance ahead
In Meet the Projects

COIN EVENT P. 125

The Phone in Your Pocket
CALENDAR
In Security 101
Take a look at some of the
Digital Scarcity key upcoming events, con-
ferences, and meet-ups
In Crypto Understanding
Chief Editor Researcher
What did our readers think?
V @GameOfCryptos Íris @IRIS21CM

Head of Development Art Director

Ananke @AnankeStudio Tiff @tiffchau

“
Just grabbed a monthly subscription to read
THIS MONTH’S CONTRIBUTORS about @XSNofficial on @21CRYPTOS's
(In alphabetical order) magazine on November. So far it's a good read,
and I' m very impressed by their attention
Carl Gunaratnam FlatOutCrypto to detail, and the amount of work they can
@EricCointona @FlatOutCrypto produce in just a month!
David Akilo
@Kilo_Darv
Matt B
@MattoshiN
–
”
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@fi_writing @jamesmcgirk

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Content
This magazine is a collection of resources and opinions, it is not direct financial advice. We’re not
responsible for the accuracy or validity of the information the pros choose to provide to us. The opinions
of our content providers are not necessarily our opinions. We aim to provide unbiased information with
no ulterior motives as a service to the crypto community. Our primary source of income comes from In November, we've started expanding our
magazine sales, we do not want to influence the market in any way to our own or others’ benefit.

You
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Please do you own research in addition to reading the content provided within. We’re not saying this to first cross-platform giveaway for Black Fri-
cover our backs, we’re saying it because we want to create better traders who don’t lose their money.

• • Never EVER trade more than you can afford to lose.

day and Cyber Monday. We're grateful for all
• • ALWAYS trade safely after extensive research. the responses we got and are very happy to
• • Do NOT follow pump and dump schemes, they damage our community in a massive way.
have sucessfully given away 6 free one-year
• • REMEMBER that Crypto trading has elements of a gambling nature - so ensure you avoid addiction,
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Editor’s note

HEROES
It’s been one hell of a
y e a r. We ’ r e a t c h r i s t -
mas already, and we
look back to a year

OF
ago today, when the
crypto landscape
was a vastly different
place. Bitcoin was
almost at its $20,000

OLD
peak, and we were
at the top of the most
exciting bull market
ever to grip the plan-
et (for now). Dreams
came true in a day,
and no one batted an
eyelid at a 100% gain
on an unknown coin.
It was an epic time
where it seemed that
the whole world was
coming together to
fly with the new era of
cryptocurrency. And
then it happened…

The bear entered the

arena, thrashing the
bull, beating it down
with all its might. As
we entered 2018 - the
t i m e o f t h e b u l l w a s o v e r, a n d t h e e r a o f t h e b e a r w a s
j u s t b e g i n n i n g . We e n t e r e d a d a r k p e r i o d , o n e w h e r e t h e
joys of the past year were almost instantly forgotten. The
dreams that came true in a day just months before were
now crushed in the same amount of time. All apart from
the most seasoned veterans lost money.

And now we find ourselves, like the heroes of old at the end
of the Greek Epics, back at the place where we started.

This is not the beginning of the end for Bitcoin. This is the
end of the beginning. The largest economic cycle so far in
this new era of personal power appears to be coming to
an end, and we’re almost back at the same market cap
as we were before the bull run started getting the world’s
interest. Now all potential lies ahead, and the climb back
up to $20,000 has never seemed more realistic. And after
t h a t ? We l l , a n y t h i n g ’ s p o s s i b l e i n c r y p t o l a n d .
V @GameOfCryptos
Chief Editor of 21 Cryptos Magazine
 MULTIICURRENCY WALLET
AND LIGHTNING SWAPS
STAKENET SOLUTION

Whilst a lot of blockchain projects are struggling with scalability and trying to prove their decentralization,
Stakenet (XSN) is swiftly moving forward in creating interchain capabilities and services that will help in fulfilling
its vision of a trustless profit-driven economy.

STAKENET MULTIICURRENCY WALLET

A cryptocurrency wallet is an important and integral component of the cryptocurrency universe. It is a secure digital wallet which helps in storing and

transacting digital currencies like Bitcoin and Ethereum. Most of the coins and tokens have their oocial wallets but with changing times a lot of independent

third-party wallets have surfaced providing a variety of features. Here comes the problem; for every cryptocurrency that a user holds, he also requires a wallet

to store it, thus making it cumbersome for the holder to have so many wallets.

Sta
Stakenet provides a solution to this problem as Stakenet’s Masternode Network will hold databases and run full nodes of multiple blockchains allowing

Stakenet to create a wallet that can securely send, receive and confirm a transaction on separate blockchains. These separate blockchains are held in the

second layer which communicates with the first layer nodes providing users a single wallet which can house multiple wallets.

LIGHTNING SWAPS

With decentralization slowly finding its roots in today’s world, people are showing an inclination towards replacing centralized intermediates with decentralized

ones. Although the acceptance of a complete decentralized organization is still distant, there has been the emergence of a lot of services which now help

people in carrying out transactions without an intermediate party. Atomic Swaps are one of these. In simple terms, an Atomic Swap is a smart contract

technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as an exchange.

In August 2018, Stakenet released a new Lightning upgrade along with the implementation of Lightning Network and Atomic Swaps. The combination of

Lightning Network along with Atomic Swap allowed the execution of “Lightning Swap” which is an instant and nearly fee-less cross chain trade. The successful

execution of Lightning Swap has taken Stakenet a step closer to a trustless one-click Lightning Swap solution which provides the user with a unique

interoperable peer to peer solution that is only available with Stakenet.

To elaborate, Lightning nodes validate transactions between two separate chains. A Lightning node is an endpoint communicator that should have data from

both chains. In other words, it needs to monitor both chains and thus is able to validate the transaction. With the upcoming development of the Multicurrency

Wallet, Masternodes will be holding the separate chains in a decentralized manner, so you won’t need to download both chains. The Masternodes will also

provide Watchtower services, so if anything goes wrong it will execute automated scripts to claim the punishment rewards.

STAKENET SOLUTION

Crypto exchanges are the mainstay support for the cryptocurrency market as they allow trading of coins thus providing liquidity. Even after being such an
Cry

important component of the crypto markets, most exchanges are centralized and are operated out of a single central server making them vulnerable to

hacking or forced closure by the regulatory authorities. Also, once a user places a trade with a centralized exchange, their coins leave their possession and are

stored with the exchange, thus making the user lose the utility and benefits that one receives from the coins. These are some of the potential risks which

Sta
Stakenet aims to answer with its proposed Stakenet dx (Cross-Chain Lightning Swaps).
 CONTINUED
With important components such as the Multicurrency wallet and Lightning Swap in place, Stakenet are only a few steps away from creating this solution.

There are some DEX’s which are currently operating but all of them have some vulnerabilities of centralization, whereas Stakenet would be the first to operate

a completely decentralized solution which would be entirely run by Masternodes and not supported by a centralized entity. Apart from that, the other

advantages of Stakenet’s Cross-Chain Lightning Swaps are:

• The coins which the users hold never leaves them unless the transaction is completed giving them unlimited access to their coins.

• With coin in their wallets, they also benefit from all the utilities, features and staking rewards of the coin.

• The user remains anonymous as he doesn’t have to provide any Know Your Customer (KYC) details to anyone providing the user with complete anonymity

and freedom to trade fearlessly.

•Not being in hands of central authorities, the Stakenet dx cannot be shut down by anyone, not even Stakenet.

•All transactions are done on a peer to peer basis without the involvement of a central authority, making the transaction more secure and less expensive as

the fees are lower.

The question is what’s the point of a native token on a chain that facilitates Lightning Swaps?

There have been two main criticisms of Lightning Network thus far: 1. Decentralization and 2. Liquidity

By using the XSN native blockchain to host a one-click Lightning Swap solution, it gives the advantage of utilizing its second layer Masternode collateral to

solve both of these issues. Masternode collateral can only be achieved by using a native blockchain, since the rules need to be baked into the first layer to

have secure Masternode’s in the first place, so you cannot use DApps or oo-chain tokens to have the same eeect or solve the problems that require a

dedicated Masternode network.

With XSN native blockchain you will be able to take this collateral and allow Masternode owners to make that collateral work for them by generating fees from

routing Lightning payments, becoming Watchtowers, holding other chains, providing Light Wallet TX broadcasting services and liquidity for the Lightning

Network as a whole. Furthermore, all major infrastructures will be built using Masternodes to provide a decentralized service without hurting normal users on

the base protocol.

XSN users and owners will be rewarded accordingly via demands for XSN to set up these Masternodes or using it as a medium of exchange, because it will be

one of the most liquid Lightning Networks necessary for high volume trading and general payments.

This is one of the major selling points along with other exciting capabilities the second layer will allow in the future. As new technologies regarding smart

contracts, DApps, and scaling come into the scene, Stakenet will also be able to uniquely solve problems that these technologies might face using the same

approach they are taking with Lightning, for example.

In short, all services running on the Masternode network will generate fee’s that will be paid in XSN in one way or another. Many users may not even realize

they have paid in XSN as it will all be handled by Lightning swaps in the background. For example, if someone wants to trade BTC/LTC then the fee will be

initially collected in BTC, however this BTC will be converted into XSN via a Lightning Swap in the background. That XSN will then be distributed back to the

Masternode holders for providing the services.

This will happen for every service that is run on the XSN Masternode network, such as the Privacy features and upcoming DApps. Stakenet believe this

economic model will provide a constant demand for XSN with fees collected being converted to XSN and then distributed back to Masternode holders.

Sta
Stakenet have also partnered with professional trader Frank Amato (current Block 5 Capital Co-Founder, Former Executive Director of JP Morgan, Former

Managing Director of Bear Stearns), to help design the Stakenet dx, as he provides insights on how the one-click Lightning Swaps can meet the expectations

and requirements of seasoned traders. It will have a “Pro-Trader Mode” which will serve ambitious and also seasoned retail fund investors.

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WHAT BY THE LAUNCHES CRIMINAL CRYPTO CRYP- SUPER-
THEY NUMBERS ENTERPRISE VS TO'S 10 STARS
SAY THE WACKIEST
WIRKD PROJECTS

LAUNCH

DECEMBER 2018
TRENDING NEWS, INFOGRAPHICS, AND INTERVIEWS

Nik Patel, author of the

widly popular 'An Altcoin
Trader 's Handbook',
profiled in SUPERSTARS on
page
LAUNCH
RON PAUL
WHAT SAYS BITCOIN COULD
PREVENT ANOTHER RECESSION
THEY
SAY
The public figure and former US Con-
gressman Ron Paul has endorsed the
cryptocurrency industry by stating
that bitcoin could prevent another
what pub- recession. Ron hasn’t always been
lic figures keen on bitcoin - he was vocally skep-
are saying tical throughout Bitcoin’s first years,
this month but now firmly believes in the power
of cryptocurrency. Paul stated that
the next recession could be caused by
federal mismanagement, and that it
could spell the end for all fiat money,
paving the way to Crypto dominance.
ETHEREUM CREATOR
DENIES CLAIMS HE'S
STEPPING DOWN
An article published in the MIT
review claimed that the second larg-
est cryptocurrency Ethereum ‘can-
not survive’ and achieve decentral-
ization without the project leader,
Vitalik Buterin, stepping down.
Post-article, critics suggested he
would indeed be stepping down to
create a more decentralized project,
but Buterin quickly got wind of the
conversations and denied all claims,
stating: “No, I’m saying I’m continu-
ing to focus on research but am less
‘in charge’ than ever. It’s about addi-
tion of other people’s work, not sub-
traction of my own.”
678
Will dgital exchanges replace fiat
ones in under 10 years?
64 %
Yes
64+2313
169 voters
23%
No
The number of celebrity cards
13% available for trading on the Crypto
Undecided Celebrities platform
Source: Twitter @21CRYPTOS
THOMAS ZEEB OF SIX EXCHANGE
SAYS DIGITAL TRADING PLATFORMS WILL
REPLACE ALL FIAT ONES IN UNDER 10 YEARS
Thomas Zeeb of the popular Swiss exchange SIX has
said that he believes traditional exchanges will be
completely replaced by digital ones within 10 years.
Zeeb says ‘The existing system could be completely
replaced by the digital exchange in about 10 years. The
moment that brokers, banks, insurance companies
and big asset managers really see the cost advantages,
they’ll move relatively quickly.’ The SIX exchange is
facing legal difficulties securing the legitimacy of
their digital exchange with the Swiss government and
their country’s FINMA regulatory body, but as soon
as those are cleared, Zeeb says they’ll be starting with
stocks, exchange traded funds, and bonds. The deci-
sion to move into cryptocurrency, he says, was down
to competitors like Coinbase and Binance who are
usurping the need for traditional exchanges. This begs
the question whether traditional exchanges with their
decades of expe-
rience and pub-
lic trust will be
able to regain a
foothold or even
dominate in the >
crypto markets
once they switch
over to digital-
ised trading.
Thomas Zeeb.
Source: Six Exchange
Does Ethereum need to work towards
further decentralization?
57 %
Yes
57+2518
116 voters
25%
No
18%
Undecided
Source: Twitter @21CRYPTOS
 2x
OVER 25% OF YOUNG GERMANS MAY
PURCHASE CRYPTOCURRENCY
LAUNCH

The two German states Hesse and Saxony conducted

a study with over 1000 German citizens to see what

BY
their general stance was on cryptocurrency. The
study’s results were surprising - over 28% of people

THE
aged 19-28 stated that on the topic of purchasing cryp-
tocurrency in the future, it was ’conceivable’ that

NUMBERS
they’d do so. The interesting thing with this study is
that it didn’t target tech savvy individuals, only aver-
age citizens. Those who responded that were aged 30
CRYPTO'S TRUE to 39 considered that investing in cryptocurrency was
VOLUME IS 2X WHAT ‘dangerous’.
THE EXCHANGES
RECORD
20% OF PEOPLE BELIEVE IN A CRYPTO
The daily recordings of
FUTURE
cryptocurrency market vol-
ume data is based on what
The global data firm YouGov is well known for aggre-
the major exchanges record
gating data to form usable reports for big businesses
- but this is just the tip of
and governments, and they’re famous for providing
the iceberg when it comes
more accurate results than almost any other method.
to crypto’s true traded vol-
The results are in on whether the population sees a
ume. The Binance CEO,
crypto future - according to YouGov, 20% of people
CZ, says: “What I’ve heard
see cryptocurrency being as common as any method
is the OTC market is at least
we use today such as cash or cards. 43%, however,
as large as the live recorded
are firmly against this view and take a much more
volumes [on exchanges].
negative stance on adoption.
So that is at least 50 per-
cent of volumes that is not
being reported on Coin-
MarketCap. But we’re not
heading to that business,
93% OF PEOPLE KNOW WHAT BITCOIN IS
so we don’t know the real
We tend to imagine that everyone knows about Bit-
volumes.” It seems that
coin by now, but then we think back to a year ago,
the true depth of the cryp-
where a very small percentage of the population had
tocurrency market isn’t
even heard of the word cryptocurrency, and we think
known to anyone, as with
again. It can’t be everyone, can it? Perhaps 50%?
the anonymity this asset
Maybe 75% Well, the results are finally in. A study
class provides, anyone can
conducted in the UK recently showed that a whop-
trade any crypto without
ping 93% of people had heard of Bitcoin. However,
anyone else ever knowing -
the real statistic is how many people say they under-
which makes tracking true
stand it. That figure rested at a lowly 4%.
volumes impossible. This
is, however, a great sign in
general for the industry.
It shows that while inter-
est may be dropping off on
mainstream exchanges and

93%
in the public’s eye, there’s
an active and mysterious
world underneath the one
we know that’s propping up
the whole industry.
LAUNCH
LAUNCHES
BITHUMB SIGNS DEAL TO
CREATE SECURITIES EXCHANGE
The cryptocurrency exchange Bithumb has
signed a deal with a US fintech company
with the aim of creating a cryptocurrency
securities platform in the US. The South
Korean exchange and the US company
SeriesOne will be creating the exchange in
early to mid 2019. Bithumb will provide the
investment and the necessary know-how
to create the platform. This news comes as
another good surprise for Bithumb’s pros-
pects, as they recently announced they’ll
also be creating a decentralised exchange
in the near future.
BANCOR'S CROSS-CHAIN
DECENTRALIZED EXCHANGE NOW
LIVE
The Ethereum-based decentralised
exchange cryptocurrency Bancor has com-
pleted development on its cross-chain links
between Ethereum and EOS. The new plat-
form, titled BancorX, will enable new con-
versions between 110 Ethereum and EOS
based assets. BancorX was made in collab-
oration with the EOS block producer Liq-
uidEOS, which uses Bancor’s own token
BNT to make the transactions. Bancor has
announced a 500,000 BNT bounty program
for developing their EOS contracts and UI.
17.6M
Will owning dividend paying stocks in
the form of cryptocurrency catch on?
59 %
Yes
59+2615
105 voters
26%
No
The average amount of crowdfunding
15% expected from each of the top 10 ICO
Undecided launches in 2018
Source: Twitter @21CRYPTOS
SPACEX ENGINEER'S EXCHANGE
WILL PROVIDE STOCK IN THE FORM OF
CRYPTOCURRENCY
In groundbreaking news, a former SpaceX engineer
that created a cryptocurrency exchange has recently
announced that they’ll be releasing stock for the com-
pany, which will be uniquely available for purchase as
a security token offering (STO). Joshua Greenwood,
owner of the LXDX exchange, will be one of the first
in the world to sell stock in a company in the form of
cryptocurrency tokens. As opposed to having a utility
that’s separate from the normal ownership of a com-
pany through traditional stocks and shares, the LXDX
cryptocurrency tokens will represent a direct owner-
ship stake, and will not just be a tradable currency
like the vast majority of cryptos in the world. In addi-
tion to this, owning these tokens will not only give
the holders of LXDX ownership, but they will directly
pay dividends in the currency, and will provide a total
of 10% of the total gross revenue of the company each
quarter to the individuals that own them.
>>
Former SpaceX
engineer will be
first to launch
company with
crypto stock.
Source: SpaceX,
Twom white
rocket launching
at Kennedy
Space Center,
Merritt Island,
US
Which will own the future - centralized
or decentralized exchanges?
65 %
65+2213
Decentralized
120 voters
22%
Centralized
13%
Undecided
Source: Twitter @21CRYPTOS
LAUNCH
CRIMINAL
ENTERPRISE
GIVE US YOUR
BITCOIN OR WE'LL
BLOW YOU UP!
In a troubling story, busi-
< nesses in Amsterdam have
been receiving emails
directing them to pay a
cryptocurrency black-
mail fee, or face threats of
hand grenades and shoot-
ings. The angle the crim-
inals are going for is
because of a unique law in
Amsterdam: all businesses
that are threatened with
either explosives or shoot-
ings must close down for
a short while as a precau-
tionary measure. While
this is a great protective
measure, and would bene-
fit from being introduced
elsewhere in the world, the
reality is that these busi-
nesses know the risk of an
attack is low, but the risk
of losing money and trad-
ing hours from being shut
down is a certainty. Thus,
the businesses are more
inclined to pay the ran-
som fee if it’s less than the
money they’d lose from a
few days trading. The email
sent by the criminals states
Amsterdam, the
Netherlands that ‘many businesses’ have
had to close down already
because of their threatening
tactics, and if other busi-
nesses wish to stay open,
then they must pay the ran-
som fee, which equates to
50,000 euros. Smart crim-
inals, but here’s hoping
they’re apprehended soon.
PLEASE CAN WE USE YOUR
PROCESSING POWER?
5 men in South Korea have been arrested this
month for placing illegal mining malware into
6000 computers. The group of 5 were led by Kim
Amu-gae, 24 years old. Kim sent out over 32,000
emails containing crypto mining malware to
directly target users in South Korea, successfully
infecting 6000 PCs with the program. Sadly, this
isn’t the first time this hacking group has got in
trouble with the law - previously the group sent
out tens of thousands of malware emails to job
applicants, posing as employers, with unfortu-
nately great success.
ANGRY INVESTORS SUE RAPPER
T.I. FOR $5 MILLION AS HIS ICO FAILS
The FLiK token, brainchild of the infamous US
rapper known as T.I., is the centre of controversy
this month. The token appears to be failing, and
failing badly, so a group of individual investors
have taken it upon themselves to sue the rapper
for $5 million USD. The alleged crime being com-
mitted is that T.I. used investor funds to fraudu-
lently drive up the price of the token, then sold
out at the top, leaving investors with no money,
and a token with no value. FLiK traded at a peak
of $0.21, and at a low of $0.001, 200 times less
than the highest investable price.
Should celebrities
be legally
accountable for
failed ICOs they put
70+246 70 %
Yes
24%
No
their names to?
6%
107 voters Undecided
20%
Your success rate
in getting back the
Bitcoin that was
stolen from you
Do you think
crypto has a higher
rate of crime
because of its
76+177 76 %
Yes
17%
No
anonymity?
7%
105 voters Undecided
LAUNCH
CRYPTO
VS
THE
WORLD
APPLE REMOVED NO.1 RANKED
CRYPTO PODCAST...
The popular crypto podcast ‘Off the Chain’ by
Anthony Pompliano, partner in Morgan Creek
Digital, was mysteriously removed for a short
while this month to the dismay of the crypto com-
munity. Pompliano states “Last week we released
a podcast discussing the ultimate argument for
Bitcoin. It exploded & ranked #4 in US investing
category before mysteriously being taken down
by @Apple. We had no warning. We don’t know
why. They took down our podcast, but they can’t
take down Bitcoin!” After public uproar, the pod-
cast now seems to have been returned - but con-
troversially, there’s been no confirmation from
Apple that they were the ones that took it down,
raising suggestions that this was a clever market-
ing ploy for the podcast. However, this wouldn’t
be the first time platforms have acted to suppress
crypto media. Ultimately, the chances are high
that the real answer is something simple - a tech-
nical error that neither party was responsible for.
12
Do you think the SEC is a positive force
in crypto?
46 %
Yes
46+3321
284 voters
33 %
No
21% The number of ICOs the SEC has shut
Undecided down this year
Source: Twitter @21CRYPTOS
THE IMF WARNS MARSHALL
ISLANDS OUTSIDE AID MAY BE
REVOKED IF THEY LAUNCH SOVERIGN
CRYPTO
The global financial organisation IMF (Inter-
national Monetary Fund) is attempting to
stop the Marshall Islands from adopting its
own native cryptocurrency. The IMF openly
criticised the Marshall Islands’ plans: “In the
absence of adequate risk mitigating meas-
ures, the issuance of a decentralized digital
currency as a second legal tender would not
only increase macroeconomic and financial
integrity risks but elevate the risk of losing
the last U.S. dollar CBR.” The IMF suggests
that the proposed cryptocurrency plans could
mean financial aid from other countries - that
the Islands rely heavily on - could be revoked.
THE SEC ATTACKS ETHERDELTA
EXCHANGE WITH UNLICENSED
TRADING CHARGE
The SEC has charged the creator of the decen-
tralised exchange EtherDelta with operating
an exchange without a license. The EtherDelta
exchange allows users to trade ethereum based
tokens without having registered accounts,
with all trading managed by a sophisticated
smart contract that removes the middleper-
son and gives users complete freedom over
their funds. The SEC have moved to attack
the exchange, claiming that some of the trad-
able tokens on EtherDelta are classed as secu-
rities, and as such require a securities license
- a license which EtherDelta doesn’t have.
Do you think big corporations are
conspiring to supress crypto?
63 %
Yes
63+2512
128 voters
25%
No
12%
Undecided
Source: Twitter @21CRYPTOS
LAUNCH KEKCOIN (KEK)
Everyone loves memes, right?
Meme
Kekcoin has its roots in the word
“kek”, a variation of “lol”. Kek is a

CRYPTO'S term invented by the 4chan commu-

nity, where most of the world’s dank

10
memes are born. According to its
creators, the coin was built on top of

WACKIEST
a “memechain”. Its goal is to ‘expand
the global awareness of cryptocur-
rencies and blockchain technology

PROJECTS by funding the curation and dissem-

ination of dank original content’.

If you’ve been
involved in the
crypto space for a
while you’ve surely
NYANCOIN (NYAN)
stumbled upon What would the Internet be without
some of the more some cats? After all, they’re the
wacky and comi- Internet overlords. But Nyancat
cal crypto projects. is a special type of creature that is
made of Pop Tarts and travels across
We took the liberty
the pixelated blue skies leaving a
of curating some
rainbow chemtrail in its wake. The
of the most unu-
developers vanished soon after its
sual ones out there creation. It’s believed they were
for your reading kidnapped by Angery Doges.
pleasure...

JESUS COIN (JC)

This coin was launched in the epitome of
crypto fever last year, and many traders Worship
took it as a sign that the bubble was about
to burst. And indeed, they were right.
Created as a satire by a group of friends,
when the website was still up, their descrip-
tion read “Jesus Coin has been developed as
the currency of God's Son. Unlike morally
bereft cryptocurrencies, Jesus Coin has the
unique advantage of providing global access
to Jesus that's safer and faster than ever
before”. I wonder if this coin allows you to
access Heaven?

COINYE (COINYE)
One of the most prominent public
figures the crypto community talk (or
argue) about is Kanye West, (yes, we’re
as confused as you are). Love him or hate
him, the fact is that he now has his own
fan-made cryptocurrency project. The
coin’s creators received a cease and desist
letter from Kanye's attorneys, but have
somehow gone through the necessary
adjustments to save themselves from
potential lawsuits, and as a result hide
in safety behind anonymous aliases.
 DOGECOIN (DOGE)
This list wouldn’t be worth a dime
without some Doge. Dogecoin
was created in 2013 purely as a
joke. As you might’ve guessed,
the Doge meme was inspired by a
picture of a Shiba Inu, a Japanese
breed of dog that had the funniest

GARLICOIN (GRLC)
expression and made the Internet
a better place with its mlems,
boops, and snoot. Although it was
Garlic bread is one of everyone’s
created for giggles, Dogecoin has
favorite carbs. But what does it have
actually been used to fund and
to do with cryptocurrency? Do you
help charities. Pretty cool, huh?
have the right to more garlic bread

USELESS ETHEREUM
if the price rises? And yes, you’re
right. This is another meme coin,
but since it’s open-source, it means
that you can fork it and create as
TOKEN (UET)
many garlic bread slices as you want. Is there anything useful to say about
You just can’t really eat them, sorry. this? In fact, yes. If you’re looking for
some refreshing honesty, the name is
truthfully reflective of its core purpose:
uselessness. Of course you can trade the
Useless token, but don’t expect an MVP
or prototype. The creators force you
to come face to face with your darkest
desires and tell you straight up that
you’re giving money to something that
CHEESECOIN (CHEESE) is absolutely worthless.

Cheesecoin is a masternode coin. There’s

no punchline. We can’t find anything
else to write about for this, so… lets all
think of our favourite cheese and praise
the Cheesecoin gods for giving us digital
cheese, which is of course the tastiest
and most nutritious form of cheese.
Debatable

CTHULHU
OFFERINGS
With a current market cap of
$10,000, Cthulhu Offerings is the
SANDCOIN (SND)
go-to coin for all Lovecraft fans. We thought we’d seen everything, but
All praise Cthulhu, praise be unto here comes the very very super serious
him… or her? ‘first electronic option for high-quality
sand’. But what does that epic tagline
even mean? According to their white-
paper, their goal was to raise funds to
develop a sand quarry in the Moscow
region. Can’t say that’s not original.
LAUNCH

SUPER-
STARS

NIK PATEL
Nik is a trader and investor, and is
primarily involved in speculating on
altcoins. He’s been in the space for
5 years in total, and has been full-
time for almost 2 of those years.
ON NIK’S WILDLY POPULAR TRADING
BOOK
‘The book is called 'An Altcoin Trad-
er 's Handbook', and it's half memoir
and half manual, with the first half
being a series of anecdotes from my
highs and lows in the space, and the
latter half being an extensive frame-
work for profitable altcoin specula-
tion. It's sold over 6,000 copies and
managed to take the number one
bestseller spot in the Investing cate-
gory on Amazon for 8 straight weeks
after publication!
Check out Nik’s website altcointrad-
ershandbook.com, and follow him on
Twitter @cointradernik
WHAT NIK HAS IN STORE FOR THE FUTURE
‘I plan to focus much of my attention on my blog (https://t.
co/breoaryP2G). The blog serves as a natural extension to
the material in the book, and gives me something to build
and occupy my time with when I' m not doing other things.
My longer-term approach to trading altcoins tends to free
up a lot of time, with most of the work preceding entries,
unlike day-traders or short-term traders.’
NIK’S THOUGHTS ON THE BEAR MARKET
‘I think we've seen the worst of the bear market already, but
it may still take until the New Year before we get a macro
reversal. I think the launch of Bakkt will act as a catalyst.’
NIK’S ADVICE TO THOSE GETTING INVOLVED IN CRYPTO
‘Start with what you can afford to lose. Too many people
jump into the space with wild dreams and a lack of dispos-
able income, and those are the people who become emo-
tionally tied to their positions and thus make irrational
decisions. The more distant you can make your relation-
ship with money, the more likely you are to find success in
this space.’
 CECILE
BAIRD
Cecile is Co-founder of Blockchain For Good
and Decentrl

ON CECILE’S BACKGROUND IN CRYPTO

‘I have been pulling strings behind the scenes
since 2013 and helping over 40 crypto start-
ups with their growth & fundraising. I am also
the original promoter of the use of blockchain
for good following the rise of corporate block-
chains in 2015 & the lack of concern from both
enterprises and startups of the societal impact
of these applications.’

ON BLOCKCHAIN FOR GOOD AND DECENTRL

At Blockchain For Good, we connect crypto
leaders, academics, governments and engage
them in discussion. This is where I believe that
change and impact can happen. Day to day activ-
ities are with our team at Decentrl in London
and Los Angeles working with all the different
crypto startups we represent and consult.

ON WHAT THE FUTURE HOLDS FOR HER

A lot! It’s a surprise!

CECILE’S ADVICE FOR THOSE GETTING

INVOLVED IN THE INDUSTRY
‘Integrity Integrity Integrity. It’s a small fast-
paced industry. If you want to last, don’t be a
d**k.’

Take a look at
Cecile’s websites
blockchainfor-
good.com and
decentrl.agency,
and follow her
on
Cecile at the Blockchain SoCal
Twitter
Club, an exclusive event for
@cecilebaird
the community in June 2018.
The Blockchain For Good
Roundtable think tank was part
of the event.

LEIGH
CUEN
I' m a journalist from California who started cov-
ering crypto in early 2017, when I was a fintech
> reporter at the International Business Times. Since
I joined CoinDesk earlier this year, my role in the
industry is trying to find stories that show how
crypto offers new types of tangible value beyond
speculative trading. My focus is on revealing the
ways cryptocurrency trends impact real-world
power dynamics and people who are often ostra-
cized by traditional institutions.
LEIGH ON THE POSITIVES AND NEGATIVES ABOUT A
JOURNALISM CAREER IN THIS INDUSTRY
The crypto space is an extremely tricky field to
fact-check, in part because of the lack of accessi-
ble sources and reliable, objective data. Report-
ers with experience in politics and crime reporting
21 CRYPTOS
will notice some similarities because the cryptocurrency
industry is also full of many dishonest players. When it
comes to an emerging field like crypto, it is even harder
to expose such narratives without editorializing. A lot
of what defines a “scam” or bad actor is really in the eye
of the beholder. The perennial challenge of weeding
through misinformation is a negative aspect of working
in this space.
On the other hand, knowledge of this industry is rare
and valuable. These skills are transferable beyond jour-
nalism, including your own personal financial habits.
Lastly, I am so overwhelmingly grateful to work with
developers and entrepreneurs that include some of the
smartest and kindest individuals I've ever met. Plus,
readers from the crypto community really care about
your work and want to help. The sense of community
reporters feel working in this space is rare and priceless.
LEIGH’S FUTURE PLANS
I certainly plan to keep writing about the potential of
this technology in a variety of formats. I'll keep learn-
ing and diversifying the types of writing projects I work
on.
LEIGH’S ADVICE TO THOSE ENTERING THE INDUSTRY
Invest in people. Go to meetups and conferences and hack-
athons. Find your tribe in this space and be a resource for
them. Don't only expect people to help you, connect with
veterans in this space and develop friendships. Even if all
you have to offer is cupcakes (I may have bribed a devel-
oper or two to explain technical concepts in exchange for
cupcakes), make sure that you honor the time and cour-
tesy they offer you. There is no bitcoin help hotline, the
way you can call a bank for support. So not only will
these friendships make your experiences in this space
more fulfilling, but they will also become your support
network as you explore financial sovereignty.
Follow Leigh on Twitter @la__cuen, Facebook /leighcuen, and
check out her writing on coindesk.com/author/lcuen.
NEXGEN
DECENTRALIZED
RIDE-HAILING
PLATFORM
Mobility is a Big Business
For as long as human civilization has
existed, the need to move from one
place to another has been a profound
constant. This particular character-
istics of human behavior has evolved
over time, people humans seeking new
ways to transit from one point to anoth-
er in order to make life simple.
Mobility in itself is a huge econom-
ic factor and an opportunity of itself.
Without going into too much statistics
(apologies to our pedantic readers),
in the more recent years, the numbers
of cars on the roads have increased
and drivers have taken their econom-
ic empowerment more personal, with
lots of ride-hailing platforms out there
to choose from – yes, it’s a buffet!
In short, mobility is a big business with
the global taxi market worth approxi-
mately $108 billion USD. These figures
are constantly being challenged by
the increasing new forms of ride- hail-
ing experiences, however, experts put
the current global mobility as a service
(MaaS) value at about $24.1 billion USD
and expect this to grow to a value of
$230 billion USD in less than a decade
(by 2025).
21 CRYPTOS
SPONSORED
Decentralized Sharing Economy is the Future
The advent of the blockchain, smart contracts, and the
decentralized distributed economy has opened up the
world to a whole new scope of opportunities. These oppor-
tunities have given rise to a host of tokenized digital assets
and a prospering new Internet- based economy. While
these concepts are still nascent and propose a brighter
future, their current development and application streams
are magnificent.
Basically, what the decentralized sharing economy does
is to bridge the gap between value creators and enhance
financial opportunities. This means that it kicks out the
middleman, directly connects buyers and sellers of com-
modities or services, and everyone’s happy.
Leveraging the sharing economy has empowered many
developers and investors to build a new economy upon
the foundation of smarter systems than those currently
available in the world today.
Ride-Hailing Economy
Ride-hailing as a multi-billion-dollar venture has influ-
enced many urban and suburb regions to a large degree,
bringing new scopes to drivers’ economic empowerment.
Currently, the major regional coverage for the industry
spans through USA, EU, Japan, China, India, and Southeast
Asia.
The current valuation for the ride-hailing market is about
$36 billion USD. Analysts have projected this sum will be
approximately $285 billion USD by 2030 which is 8 times
the current valuation.
Ride-Hailing is Evolving
Unlike the taxi industry, which dates back centuries ago,
ride-hailing in this age, has the advantage of technology
and a driver’s motivation for independence.
Taxi companies regulated by either
the state or transport authorities
have made income earnings for driv- PROBLEMS IN CURRENT
ers more difficult with stringent pol-
icies and bottleneck bureaucracies; RIDE-HAILING
the worst is envisaged when central-
ized middlemen entities disrupt the
INFRASTRUCTURES
income flow of drivers through huge While there are quite a number of problems existing within the
commissions. This has created an current ride-hailing business infrastructure, it all comes down
opportunity in this transport sector to centralization. However, we have detailed other problems in
and many industries today are lev- our whitepaper as to why the current ride- hailing businesses
eraging projected economic analysis aren’t efficient.
and high-end technologies to proffer
solutions.
Centralization
Market prospects for the ride-hailing
Since the beginning of industrialization, the problem of central-
industry now cover mobile application
ization which is the basic infrastructure of private sectors and
developments, rising market demands
government systems has plagued every major industry. Gen-
due to population increase, region-
erally, it describes a middleman structure that concentrates
al expansions into emerging mar-
the flow of power, decision making and the economy to itself, it
kets, autonomous economic empow-
ishard for any meaningful growth or development to take place
erment and speculative instruments
with this type of structure in place.
on the financial and capital markets.
Like every other growing business, the It’s a given that the existing taxi aggregator firms have a cen-
ride-hailing business in just under a tralized system in place, and since this transport model has
decade ago, has drawn the spotlight been mirrored by ride- sharing/hailing industries, the problem
to itself, as many entities continue to percolates.
show interest either as investors or
as commuters and even more rapid- Centralization in the ride-hailing industry stifles growth as it
ly by drivers who want to be their own concentrates control towards larger corporations and entities
boss and maintain a decent income. that host these platforms. This essentially leaves other value
creators void of rights and less income.
Decentralized Ride Hailing and
Emerging Markets

Applying blockchain technology to

the ride-hailing service industry will
serve to improve the throughput of the
entire ride-hailing ecosystem. While
there are other organizations with the
intentions of creating a wholesome
system out of the ride-hailing econ-
omy, very few of them hit their princi-
pal objectives, and yet do not achieve
a wholesome ride- hailing decentral-
ized entity.

DRIFE’s role in this economy is not just

to stabilize but also harmonize the dif-
ferent stakeholders in such a way that
key players and value creators are
at their best in sustaining the growth
and implications of the ride-hailing
industry. Howbeit, this is not without
the proper incentive to do so willingly
– hence the decentralized infrastruc-
tural model of the DRIFE ecosystem.

DR I F E 25
A typical centralized company uses discriminatory
strategies to manipulate the prices which riders pay
per trip. The aim often time, is to create a stream of
higher revenue at the expense of the rider and often
times the driver also.

Another problem frequently observed in centralized

infrastructures is the breach of user data. These firms
actively collect data from riders and drivers, which
are fed to proprietary algorithms to find the best pos-
sible match. This has facilitated the growth of these
firms by allowing them access to more markets and
customers receiving affordable rides. In turn, these
models have helped in creating highly valued pri-
vately held corporations across the globe. But what
eludes most people is that it is also the perfect exam-
ple of a centralized structure.

A recently report of a data breach in 2016 was WHAT’S

released, where the names, phone numbers and
email addresses of more than 20 million people who
use the Uber Technologies Inc.’s service in the U.S
were leaked.
Moreover, there are cases of exploitation in the
name of the commission, data breach and high lev-
el of control to a central authority. Currently, there
are a couple of major players operating in different
regions and are engaging in price wars which results
in a high burn rate of their investments. The ulterior
motive of such endeavors is to create a monopoly
or duopoly market where they can inflate the prices
and commissions at will, and with an iron hold over
the governance.
As for these commissions, current ride- hailing plat-
forms charge drivers high commissions and, have
increased the commission from an initial range of
15- 18% to as high as 20-30%. This is a relatively large
share among companies that likewise run online
marketplaces to connect buyers and sellers.
So technically, what we have of a centralized infra-
structure is the manipulative hike in commissions,
data breaches and centralized control over drivers
and their income.
OUR
SOLUTION?
DRIFE is a completely decentralized ride-
hailing platform powered by the EOS block-
chain with the intent of empowering val-
ue creators within our ecosystem – these
include the drivers, riders, and communi-
ty developers. DRIFE plans to disrupt the
existing business model and remove the
corporate intermediaries involved in the
transactions.
What we’ve created in the DRIFE ecosystem
is a new paradigm for the ride-hailing indus-
try. We are the first platform in this niche to
express the full features of the decentral-
ized ride-hailing economy.
DRIFE Ecosystem: Value Creators &
Extractors
At the core of our ecosystem are our value
creators (Drivers) and extractors (Riders) -
we take good care of them:

A. Drivers: DRIFE aims at shifting the focus

from the existing commission- based plat-
forms to a decentralized network with a new
economic model, where 100% of the fare paid
by 'Rider' goes directly to the 'Driver’. We at
DRIFE are determined to make an economy
of Zero commission on rides, only annual
Membership Fee from the driver which will
give them access to DRIFE platform to get
connected with the riders.

21 CRYPTOS
The platform fee can be paid in either
DRIFE token or Fiat currency and will
accrue annually, with the first year
Membership Fee paid by the drivers
acting as a security deposit. Drivers
will be given equivalent DRIFE tokens,
which is locked into the DRIFE platform
as long as the Driver remains in the
community. Anytime the driver wants
to exit from the community, they will
be free to liquidate their DRIFE token
for themselves.
The second-year membership fee will
give drivers access to DRIFE platform
only with no DRF token equivalent giv-
en. Funds collected through member-
ship fee will be used for pay day to day
expenses to run the platform.
What We Offer?
We are initiating the creation of a utility token called the
DRF token, which will power our platform and give its hold-
ers an opportunity to leverage on the best services the
ride-hailing industry can provide.
I. To the drivers, we offer the opportunity to earn full fares,
no hidden commission or charges. II. To the riders we offer
the experience of the best of safety, security and afforda-
ble ride- hailing. III. To our investors, we offer open access
to the growing global MaaS economy.
It is important to note that our AI component functions
as a buffer system, giving it the ability to self-learn and
adapt to the changing environment in order to provide
the best of services anytime and anywhere.

In summary, our economic model (GET model) encour-

B. Riders: passengers receive spe-
ages active participation from the community members
cial exclusive discounts (T&C applies)
towards the building and maintenance of the ecosystem.
when DRIFE tokens are used to make
payments for trips. Further, as incen-
tives and bonuses when they behave
appropriately during rides. More so,
feedbacks on the driver, trips, overall JOIN OUR REVOLUTION
DRIFE platform use, and network build-
ing are incentivized through the DRIFE

“LETS
token.

Other key participants in our ecosystem:

C. Developers*: a community of
DRIFE
open- source developers are incentiv-
ized through bug bounties and for oth-
WITH
er potentially creative in-app devel-
opments that will user experience FREEDOM”
through UI interaction for both riders
and drivers.

D. Investors*: it’s our desire that our

product will have an indirect impact
on adopters ‘outside’ our user ecosys-
tem. This will include long-term inves-
tors, traders on both decentralized and
centralized exchanges and all future
potentials the DRIFE token will have as
a result of interaction with our prod-
uct and is adoptability. Incentives here
will involve periodic airdrops, self-
drops, and air grabs. More so, staking
rewards are competitive and far ben-
eficial than what is currently obtaina-
ble on other decentralized projects.

DR I F E 27
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Expert
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Fork
Wars
Jihan Wu (photo-
graphed), Roger
Ver, and Craig
Wright go head
to head to decide
the fate of Bitcoin
Cash.
Photographer:
Anthony Kwan/
Bloomberg via
Getty Images

P/034

ForkWars:
Return
of the
Hashrate
SV vs ABC
“It’s never easy to admit that
you’ve been fooled... Maybe I’ve
been fooled.”
These were the words of a distraught
Roger Ver, the well-known Bitcoin
Cash and cryptocurrency evange-
list in reference to Craig Wright, the
self-proclaimed Satoshi Nakamoto,
which a large number of people have
taken to calling ‘Faketoshi’. These two
famous crypto figures were once great
pals, but apparently that’s came to an
abrupt end, and now we have a Bit-
coin Cash fork. That’s right; the Ver/
Wright disagreement stems from ide-
ological differences on how Bitcoin
Cash should proceed going forward.
21 CRYPTOS
Hard forks are pretty common in the crypto space;
they are triggered when there is a radical change to
a specific blockchain protocol, allowing formerly
invalid transactions to become valid or vice versa.
These changes to the protocol are usually done to
improve scalability, add new functionalities or curb
security vulnerabilities found in the older software
version. Hard forks lead to the creation of a new
blockchain fundamentally different from the first.
As a matter of fact, both Bitcoin and Ethereum have
had their fair share of forking since their creation.
Bitcoin Cash, as a matter of fact, is a hard fork of
Bitcoin itself.
So what’s the fuss about? Why is this BCH
hard fork special?
TROUBLE IN PARADISE
Once upon a time, Bitcoin Cash lived happily ever
after, until Bitcoin ABC (Adjustable Blocksize Cap,
a major contributor to the BCH network) announced
certain protocol updates. These updates will com-
prise of smart contracts compatibility integra-
tion as well as scalability upgrades. Roger Ver was
impressed with the addition of these new features
and gave Bitcoin ABC his stamp of approval.
On the other side of the isle, Craig Wright was quite
unhappy with this new development. He opposed
Ver’s approval of the Bitcoin ABC upgrade, which
he felt strayed away from the original vision of Bit-
coin’s creator, Satoshi Nakamoto. In a bid to ensure
that Bitcoin Cash doesn’t lose its way, Craig Wright,
the chief scientist of nChain, announced the launch
of its own Bitcoin Cash implementation, dubbed
Bitcoin SV (Satoshi Vision).
According to nChain’s CEO, Jimmy Nguyen:
“Bitcoin SV is intended to provide a clear BCH imple-
mentation choice for miners who support Bitcoin’s
original vision, over implementations that seek to
make unnecessary changes to the original Bitcoin
protocol.”
Throughout man’s history, the difference in ideas

has often led to threats,
conflict, and in a worst-
case scenario, outright
warfare. It turns out that
the crypto populace isn’t
so different from the real
world, as the community
has now been divided by
this BCH ideological dif-
Above:
ference. Unchecked esca-
Roger Ver,
lating internal crisis often
early Bitcoin
leads to civil war. Each of
investor and
promoter of the warring factions has
Bitcoin Cash loaded their cannons and
Photo from drawn their swords as they
rogerver. stand ready to battle for
com the future of Bitcoin Cash.
FUEL
THE WARRING FACTIONS
BITCOIN CASH ABC
The fork war between Bitcoin Cash ABC and Bit-
coin Cash SV is reminiscent of the conservative and
liberal ideological battle currently taking place in
the United States political space. Bitcoin ABC, the
“original” Bitcoin Cash client, appears to be liberal
in its approach; it is willing to entertain new ideas
for BCH's evolution. The company seeks to imple-
ment new upgrades to BCH protocols including the
enforcement of minimum transaction size of 100
bytes to foil Merkle tree attacks, the activation code
and implementation for OP_CHECKDATASIG and
OP_CHECKDATASIGVERIFY, and Canonical trans-
action ordering (CTOR), etc.
Bitcoin Cash ABC has said that CTOR will bring
specificity to transaction ordering on the block, and
will allow for certain technical advantages which
will open the door for scaling solutions in the near
future. The implementation of the new OP scripts
is also expected to make Bitcoin Cash compatible
with smart contracts.
BITCOIN CASH SV
These new ideas don’t sit well with nChain. They
are more conservative and have come up with their
own Bitcoin Cash version which they feel is more
closely aligned with the original Satoshi’s ideals,
hence the name Bitcoin Cash SV (Satoshi Vision).
Bitcoin Cash SV rejects the CTOR implementation,
tagging its projected merits as redundancies with
high risks. They will also reinstall old OP scripts like
OP_INVERT, OP_LSHIFT, OP_MUL, and OP_RSHIFT
while increasing the Bitcoin Cash block size limit
to 128 MB.
When we consider the fact that BCH was born out of
the desire to preserve the original Bitcoin idea due
to the introduction of Segwit and Lightning Net-
work (LN), it is not surprising that we now have
another internal crisis because certain developers
now believe BCH needs to embrace new ideas to
evolve.
33
 FORK WAR OR HASH WAR?
Roger and Craig may be the face of this
battle, but the winner of the war will be
decided by the miners working behind the
scenes. Whichever camp is able to gar-
ner the most miner support will become
the real BCH, this means that at the rudi-
mentary level, the fork war is actually
a hash war. When competing proof-of-
work systems battle, the system that is
able to build the longest chain becomes
the winner; getting the longest chain
is only possible by leveraging the hash
power of miners, this is the principle of
the Nakamoto consensus.

The SV camp is cognizant of this and Wu Jihan,

included it in their strategy. nChain has
attempted to lure miners to support SV by
promising long-term profits. If they can
get the miners to contribute hash power
to build a longer chain, they will effec-
tively knock out their competitor as nodes
will only patronize the longest chain
while ignoring the shorter one. Addition-
ally, in the event that there is a split in the
BCH chain, miners can band together to
destroy a competing chain by leveraging
their hash power to mine empty blocks
on it. This will freeze transactions on the
chain and make the crypto redundant.
PICKING SIDES
In the midst of the insults, twitter rants,
attacks and threats; implementation,
miners and exchanges and other partici-
pants in the BCH ecosystem have to pick a
side as SV and ABC tug it out. As it turns
out, most Bitcoin Cash implementations
have decided to work with Bitcoin ABC.
The most recent announcement comes
from Bitcoin Cash Unlimited, which ini-
tially planned to stay on the sidelines but
has now made its newest release Bitcoin
Cash ABC compatible. Other implemen-
tations like Bitprim and Bcash have also
pledged allegiance to Bitcoin ABC.
co-founder of
Bitmain Technol-
ogies Ltd.
Photographer:
Anthony Kwan/
Bloomberg via
Getty Images
Many BCH service providers including BTC.com and Bitmain’s
wallet have also indicated they will be taking a pro-BCHABC
stance this includes payment processor, Bitpay and BitGo as well
as major crypto exchanges like Binance, Coinbase, and Kraken.
The only big fishes in support of Bitcoin CashSV are nChain and
CoinGeek, all other major ecosystem participants have decided
to pitch their tent with Bitcoin ABC. Like Craig Wright, Coin-
Geek's CEO, Calvin Ayre has also been very vocal about his sup-
port for Bitcoin Cash SV.
THE HARD FORK AFTERMATH
November 15th finally arrived; the hard fork day was here, the
Bitcoin Cash blockchain split in two, with the last common block
located on the chain at a height 556766.
But who was the winner? Right now, it’s still hard to tell…
Since the hard fork, the fragmented communities have continued
to struggle to dominate the network by trying to gain the most
hash power. In the early hours of the fork, Bitcoin ABC took the
lead and has maintained it so far, mining 60 blocks more than
Bitcoin SV, clearly, the odds aren't in BCHSV’s favor. However,

21 CRYPTOS
 Craig Wright doesn’t intend to give up and has
claimed that his camp won’t stop mining until
they surpass ABC.
If they hold out and manage to catch up, it
could take days, or even weeks before we can
begin to see a winner emerge. Responding to
Wright’s threat of continuous mining, Bit-
main co-founder Jihan Wu released a state-
ment in a Reddit post:
“I have no intention to start a hash war with
[Craig Wright], because if I do – by relocat-
ing hash power from BTC mining to BCH min-
ing – BTC price will dump below yearly support; it may even
breech $5,000. But since [Craig Wright] is relentless, I am all
in to fight till death!”
It appears Jihan Wu made good on his threat, as Bitcoin and
the rest of the crypto market dumped massively reaching year
lows.
BITCOIN CRASH?
Since the war began, billions of dollars have been wiped out
across the board, plunging the market into a horrible bear-
ish tumble. In a bid to outdo the competition, both sides have
dabbled in empty block mining; a practice many experts warn
could have long-term detrimental consequences for the even-
tual winner. This has led investors to wonder about the absurd-
ity of this Bitcoin Cash battle, which doesn’t seem to help
anyone except the leaders of both camps, who both appear to
be thoroughly engaged with the contest.
The crypto world is built around the tenets of decentraliza-
tion, threatening to destroy a cryptocurrency by dominating
the network’s hashrate sounds a lot like centralization and
monopoly, which are frowned upon in crypto circles, and
from all indications, this clearly has investors spooked. Since
they are no proper ground rules or regulations to check net-
work takeovers, in the future, the only way to fight off this
threat of centralization will be to abandon any cryptocur-
rency which encourages this type of behavior. If things go too
far, the crypto community may decide to boycott BCH, and
that could very well spell the end of the project as we know it.
FUEL
NO WINNERS?
From initial indications, it appears Bitcoin
Cash ABC may be the winner of the fork war,
and as a result, Bitcoin Cash ABC will even-
tually replace the old Bitcoin Cash protocol.
Calvin Arye from CoinGeek has however
stated that he sees it as a win-win situation
and that he wants both blockchains to con-
tinue to co-exist and compete in the open mar-
ket. He and his followers have also rejected
the name Bitcoin Cash, stating on his blog
that:
“Bitcoin SV is the original Bitcoin, not the
original Bitcoin Cash.”
If this is to happen, a new coin will arise out
of the chaos which will strictly adhere to
Satoshi's ideologies. This coin may be called
Bitcoin SV or just plain SV.
The coming of mature institutional investors
into the crypto space has often been touted as
the highest single act that could push crypto
into the mainstream and give rise to mass
adoption. The acceptance of cryptocurren-
cies is tied to its perception of maturity by
the public. It is, therefore, counterproduc-
tive for crypto leaders to be engaged in petty
battles which will only keep these important
investors on the sidelines or even drive them
away. While we may all get caught up in the
frenzy of the rhetoric, we must remember
that in the end, there are no winners any-
where if the crypto movement loses.
David Akilo @Kilo_Darv
35

What
happened to
the projects
that fought
the SEC?
In 2008, the world was hit hard with
a global financial crisis despite efforts
by the Federal Reserve and Treasury
Department to prevent it. Many econo-
mists believe that it was the worst since
the 1930s Great Depression. House prices
fell, banks were failing and requiring gov-
ernment bailouts, unemployment was
on the rise, and the global stock market
was a step away from crashing. As far as
investors were concerned, if there would
ever be an apocalypse, this was it.
In the midst of all this chaos, Satoshi
Nakamoto was tinkering away, working
on a project that will radically transform
how humans carry out financial trans-
actions. This new payment system will
be peer-to-peer and based on the sound
21 CRYPTOS
mathematics of cryptography and will remove the
need for central banks, governments, and other
intermediaries, allowing people to carry out decen-
tralized transactions, saving time and costs. At the
time of its creation, Bitcoin operated under the
radar and was the plaything of computer geeks and
gamers.
Years down the line, all this changed. Bitcoin’s value
continued to rise, more and more people began
using cryptocurrency which gave them the power
of a bank. The idea of being self-banked was thrill-
ing, with cryptocurrency, you are able to transfer
money, settle debts and even complete real estate
deals through the blockchain. Not everybody was
happy with this new type of “financial freedom.”
HOW DID GOVERNMENT REACT?
Through the rise of digital currencies, govern-
ments, central banks, and other world financial
bodies adopted a “wait and see” approach, however,
this lukewarm-ish attitude has changed to outright
contempt. From blatant condemnation to threats of
crushing regulations, the centralized institutions
of the world have waged a war of interference on
the budding cryptocurrency market. Government
intervention in crypto evolution has taken a new
dimension, in the form of a regulatory crackdown,
and so far, the US SEC is leading the charge.
THE SEC CRACKDOWN
The United States Securities Exchange Commis-
sions (SEC) has been in operation since 1934 and is
in charge of controlling and regulating all activi-
ties in a securities market. As the use of digital cur-
rencies began to become more prevalent in the US,
there has also been an increase in cases of crypto-re-
lated scams and fraudulent activities; this amongst
other factors has prompted the SEC to turn its atten-
tion towards the crypto market.
Back in March, the
SEC subpoenaed 80
crypto firms, this
move sent red flags
throughout the com-
munity. Investors
were confused on the
SEC’s position regard-
ing cryptocurrencies and ICOs. Will they be classified
as securities? Will they be regulated? These were the
questions on the minds of every crypto investor; how-
ever, there is still no clear answer as the SEC is yet to
properly define their stance with regards to the crypto
market.
The SEC also created a fake ICO website to educate inves-
tors on how to spot fraudulent ICOs, and in addition
to this a special cyber task force was set up to combat
cyber-related crimes that involved cryptocurrencies.
Many crypto-related projects have battled the SEC;
some have lived to tell the tale, while others have faced
the final curtain. Here are some crypto projects that
have clashed swords with the SEC. Lets find out where
they stand today.
1. MUNCHEE
Munchee, a California based company which launched
in 2017, focused on building a token powered payment
system in the form of an app for smartphones. This
application was touted as a link for connecting restau-
rants, reviewers and restaurant goers to create an eco-
system powered by the MUN coin. Munchee planned
to sell its MUN tokens to the public in its ICO, which
was expected to raise a total of $15 million to help fund
the project and get it fully functional by 2018/2019.
FUEL
U.S. Securities
and Exchange
Commission
headquarters
in Washington,
D.C., United
States
SEC Charges: After conducting the Howey Test on
MUN tokens, the SEC concluded that MUN was a secu-
rity masked as a utility token. They were also accused
of making unrealistic promises and using other decep-
tive marketing strategies.
According to the SEC investigation:
“In the course of the offering, the company and other
promoters emphasized that investors could expect
that efforts by the company and others would lead to
an increase in value of the tokens. The company also
emphasized it would take steps to create and support a
secondary market for the tokens. Because of these and
other company activities, investors would have had a
reasonable belief that their investment in tokens could
generate a return on their investment.”
Current Standing: Munchee apparently got munched
by the SEC. The regulatory body ordered Munchee to
37
cease and desist all ICO related activities and return the proceeds
of the ICO sale back to the investors. The shutdown of Munchee
was an eye opener for other ICOs in the utility space; it became
clear that the SEC was starting to draw a line between speculative
investment coins and valuable digital utilities.
2. SALT LENDING HOLDINGS INC.
SALT, an acronym for Secured Automated Lending Technology is
a platform that provides blockchain backed loans, meaning that
its users can use blockchain-based assets like cryptocurrencies as
collateral to receive traditional fiat. These loans provide flexibil-
ity not available with conventional loans since lenders are allowed
to utilize them for any personal or business enterprise. The loan
process is carried out by the SALT Oracle which employs smart
contracts for recording loan payments, monitoring of the collat-
eral changing value and mitigating the risk of default. This lend-
ing ecosystem is governed by the platform’s native cryptocurrency
– SALT.
SEC Charges: The SEC began investigating SALT in February, and
subpoenaed the company for records of its ICO sale. The SEC is
trying to determine whether its $50 million ICO sale should have
been declared as a security and registered with the regulatory body.
SEC officials are also trying to find out how the proceeds from the
token sale was utilized, and how investors acquired their tokens.
They are also investigating Erik Voorhees, a popular crypto entre-
preneur who served on SALT board of directors; the SEC wants to
know if Voorhees violated a 2014 SEC settlement which banned
him from fundraising.
Current Standing: The announcement of SEC investigations cou-
pled with the bearish strain on the market negatively impacted
SALT. Its market price fell by 28% from its peak in January when it
sat at $13.62. Since investigations are still ongoing, repercussions
may not be clear for now, however, if they are able to prove Voor-
hees was involved in raising funds for SALT, civil penalties may
follow.
3. PARAGON INC.
Paragon is a Cannabis industry focused blockchain project which
seeks to set up a network of physical workspaces for the cannabis
community, functioning under the product name, ParagonSpace.
Paragon also offers its native blockchain, ParagonChain for the
management of industry related data, while ParagonCoin served as
the official token of the platform, enabling users to pay for indus-
try related services and supplies.
21 CRYPTOS
SEC Charges: The SEC has deemed Par-
agon as a security, and charged them
with failure to register their ICO. Speak-
ing on the matter, the co-director of the
SEC’s Enforcement Division Stephanie
Avakian, stated that:
“We have made it clear that compa-
nies that issue securities through ICOs
are required to comply with existing
statutes and rules governing the reg-
istration of securities. These cases tell
those who are considering taking sim-
ilar actions that we continue to be on
the lookout for violations of the federal
securities laws with respect to digital
assets.”
Current Standing: Paragon agreed to
pay a monetary penalty of $250,000.
The SEC also asked the company to
refund its investors. As expected, Para-
gonCoin experienced some level of vol-
atility during the news cycles, but the
company will carry on fine as long it
complies with the SEC directives.
Many
unregistered
ICOs ended
up being
fined by the
SEC in the US
4. ETHERDELTA saying that refunding investors
may lead crypto projects affected
EtherDelta is a popular decentralized exchange that runs on Ethereum to declare bankruptcy because the
smart contracts promising its users quick anonymous, decentralized SEC doesn't take into account the
transactions. At the height of its popularity, the exchange accounted flexibility of the market.
for 10,353,359 transactions which made it the highest number of trans-
actions occurring on a single smart contract on the Ethereum block-
chain. Within 18 months, EtherDelta had been able to complete 3.6 mil-
lion transactions. WHAT COMES NEXT?

SEC Charges: EtherDelta was accused of operating as an unlicensed With their recent activities, the
exchange. The SEC claimed that the use of a functional interface, order SEC may have just rendered the
book and execution of paired orders made EtherDelta operations akin to traditional ICO model obsolete.
a traditional securities exchange. By not registering, it was therefore in Companies wishing to go down
violation of SEC regulatory terms. this route will have to do a lot of
research and ensure they’re reg-
Current Standing: EtherDelta owner, Zack Coburn was fined by the istered with the appropriate reg-
SEC, he didn’t admit or deny the charges, but he cooperated fully with ulatory body, especially if they’re
the SEC. At the time of writing, EtherDelta is still in operation, but its dealing with securities. To coun-
trade volume has taken a beating, this proves that the SEC charges have ter this, ICOs may decide to ban
traders spooked. Experts worry that this could set a bad precedent for US citizens, but this is only a tem-
other decentralized exchanges. porary solution because the SEC
has indicated that it is willing to
go after projects beyond the United
States. Centralized exchanges are
5. CARRIEREQ INC. [AIRFOX] AIRTOKEN also being monitored by the SEC,
big names like Coinbase, Binance,
AirToken is an ERC-20 token which was created to help build an effi-
Gemini trust, and Bitfinex are all
cient and near frictionless system for carrying out transactions like the
reportedly under regulatory scru-
payment of goods and services, the transfer of mobile airtime, and data
tiny. We may not know the full
currency. AirToken raised around $15 million during its token sale; the
details of the SEC investigations
cash was to be used in the development of the platform.
into these companies until they
SEC Charges: AirToken was charged with operating as an unregistered have reached an agreed settlement.
security.
Decentralized exchanges aren’t
Current Standing: AirToken tumbled on the charts following the news. left out; EtherDelta was an eye-
The company was asked to pay a penalty of $250,000. Like Paragon, opener, it reveals that the current
AirToken was also mandated to refund its investors. Experts are now DEXs cannot fly under the govern-
ment's radar. The SEC may not be
able to shut down the smart con-
tracts that run these exchanges,
but they will not hesitate to per-
secute the creators of these con-
tracts. In the near future, decen-
tralized exchanges may be forced
to register with the SEC, and
introduce KYC/AML procedures,
or they may even go underground
and operate more anonymously to
avoid the threat of regulation.

David Akilo @Kilo_Darv

FUEL 39

Blockchain
& VR:
A Match
Made in
Heaven
Unless you’ve been living under a
rock, you’ve heard of VR - an indus-
try which shares a shocking amount
of similarities with the growth of the
blockchain phenomenon. Since 2016,
the blockchain “gospel” has spread far
and wide gaining acceptance and adop-
tion. Pundits now predict that it will
disrupt major global sectors including
healthcare, banking, insurance, trans-
portation and supply chain manage-
ment. Virtual reality isn’t left behind
and is firmly latching on to this wave
of disruption.
VR - THE GAME CHANGER
VR tech transports its users into an artifi-
cial computer-generated world allowing
21 CRYPTOS
for simulated reality experiences in these immer-
sive environments. To access these 3D worlds, users
simply put on a specialized head-mounted display
(HMD). Humans love fantasy - the success of the
entertainment industry validates this assertion. It
is no wonder VR quickly became a popular gaming
accessory - but VR isn’t only great for playing games,
it could also be a game changer (pun intended) for
countless other industries.
It turns out that being able to trick your mind into
believing it’s somewhere else has a ton of benefits
that transcend the gaming space. For example, med-
ical students could improve their surgical skills by
training in VR, sports lovers could watch a foot-
ball match or an NBA game up close, businesses
could allow customers to experience their products
in VR before purchasing them, just to name a few
applications.
BLOCKCHAIN & VR
Blockchain and virtual reality can complement
each other in a myriad of ways. Due to its inherent
features of decentralization and its ability to trans-
fer information securely, blockchain could help
supplement data processing on virtual reality plat-
forms that suffer from scaling restrictions due to
centralized data storage systems. To put it in plain
terms, blockchain will make VR better!
The integration of cryptocurrencies into VR appli-
cations will help boost the security of the overall
system and give users more control over their data.
User experience will also be greatly improved since
the crypto peer-to-peer approach can aid in body
tracking of avatars in virtual environments as well
as providing support for p2p enhanced communi-
cations like voice chat.
Many companies are starting to see the benefits of
combining VR and blockchain and they have begun
leveraging these technologies to create some amaz-
ing products.
VR/BLOCKCHAIN PROJECTS

Person
wearing
1. BLOCKCHAIN 3D Ocolus
EXPLORER Rift, a VR
system
Blockchain 3D Explorer allows users to
visualize the blockchain and its intrica-
cies by utilizing virtual reality. With this
app, the functionalities of the blockchain
are rendered in a 3D virtual world; users
can then go into this world and explore
the blockchain operations in real time.
Blockchain 3D Explorer’s users will be
able to identify transactions on the net-
work in VR, and also take up a passive
role by watching the movement of these
transactions in-between nodes.

By bringing a level of realism to blockchain

capabilities, Blockchain 3D Explorer is
the ideal tool for teaching people about
the blockchain. An oral lecture about
blockchain tech cannot be compared to
the visual learning experience Block-
chain 3D Explorer offers. As blockchain
courses become mainstream in universi-
ties, this tool will be great in providing since it allows
better learning experiences for students. users to monetize
Blockchain 3D Explorer is available on their experiences.
a range of platforms including MacOS, The native crypto,
Linux, Android, and Windows. MANA is used in governing the platform’s ecosys-
tem and also permits the auction of VR real estate
within its limited space.

2. DECENTRALAND
This is one of the most popular VR/block-
chain offerings out there. It is a web-
based virtual reality world that is acces-
sible to users through a VR headgear.
The VR content of Decentraland gets
rendered on each block by utilizing var-
ying reference points. The platform was
built on top of Ethereum’s blockchain,
and also uses Ethereum smart contracts
for its operations.
Decentraland provides a VR adventure,
allowing users to gamble in casinos, lis-
ten to music, go window shopping or
even start a business. The platform also
provides an incentive for participation
3. MATRYX
Taking its name from the VR themed sci-fi block-
buster movie, the matrix, Matryx is also a vir-
tual reality howbeit blockchain focused platform
which allows folks cut from the same cloth to work
together to solve problems while earning rewards.
By combining virtual reality and blockchain,
Matyrx hopes to revolutionize how STEM compa-
nies operate by providing a platform for decentral-
ized collaboration.
Users of the system are able to share their problems
or challenges with the community; members of the
community access these problems in VR and are
incentivized to provide solutions through bounty

FUEL 41
offerings in the form of MTX – the
platform’s custom token. Interaction
within the Maytrx network is made
possible by specially crafted smart
contracts which validate the contri-
bution of each participant.
4. CAPPASITY
Imagine being able to create your own
3D, VR, or AR (Augmented Reality)
content for your business which you
can monetize; rent, sell or even use it
in marketing your products?
This is the solution that the AR Token
offers. The AR Token idea is the brain-
child of Cappasity – a 3D, VR/AR
cloud-based platform for business.
The Cappasity content marketplace
is supported by blockchain protocols
and storage infrastructure; it also
offers toolkits that enable its users to
try their hands on digitizing 3D objects
while also providing developers with
an SDK for building their own AR/VR
applications. Cappasity functions as
a decentralized marketplace that will
make AR/VR more accessible by uti-
lizing a unique billing system thanks
to the platform’s native cryptocur-
rency – CAPP.
5. MARK.SPACE
Mark.Space is a blockchain powered
open-source platform which is used
for the creation of 3D, AR/VR objects
21 CRYPTOS
or spaces as well as
integrating them
into unique ecosys-
tems. Mark.Space
is quite accessible
and provides sup-
port for a variety
of browsers and
doesn’t require registration or installation. It is
also compatible with VR hardware like Oculus,
CardBoard and HTC Vive.
With a PC or Tablet, Mark.Space users can now
build state of the art VR offices, stores or even
communities for the sake of business or enter-
tainment. The VR spaces under this platform are
known as units. Transactions involving these
units help guarantee ownership rights by record-
ing this data on the blockchain. Like other VR/
blockchain projects, the Mark.Space ecosystem
is managed with its own internal cryptocurrency,
MRK tokens.
VIRTUAL IS BECOMING REALITY
Although VR isn’t getting as much buzz as block-
chain technology, there’s no denying that it’ll
play a crucial role with regards to how we run
our societies in the future. New VR projects are
springing up everywhere, so much so that we’re
only scratching the surface with the five we dis-
cussed here. The rising demand for AR/VR solu-
tions by private consumers and corporations has
led to a market share explosion for this indus-
try. In fact, statistics by International Data Cor-
poration (IDC) predict a whopping 52.5% growth
rate over the next five years while revenues could
close at $75 billion by 2021! Blockchain powered
VR applications could help further speed up this
growth rate, making VR platforms more secure
and ready for mass adoption.
David Akilo @Kilo_Darv

Need A
License?
The SEC
Attacks
Unregulated
EtherDelta
Exchange
The demand for decentralized
exchanges is on the rise, and has quickly
led to these exchange models sprouting
up all over the web. Crypto entrepre-
neur Zack Coburn capitalized on this
market need and established EtherDelta
in 2017. The trading platform quickly
grew to become one of the most popular
decentralized exchanges, trading more
than 300 crypto pairs and tokens which
are compliant with Ethereum’s ERC-20
token standards.
FUEL
With many ICOs basing their tokens on ERC-20,
EtherDelta eventually became the meeting ground
for traders involved in ICO crowd sales, airdrops or
others seeking to take advantage of cheaper prices
for new coins, since most of these cryptos will first
be listed on EtherDelta before moving over to other
more popular exchanges like Binance or Bittrex.
This strategy allowed many investors to take up
favorable positions before these coins get listed on
the popular exchanges and get price spikes.
EtherDelta makes use of the traditional Solidity
programmed Ethereum smart contract which pro-
vides basic trading functionalities, defined busi-
ness logic, and contract execution. This allows
funds to be moved from one account to another in a
quite efficient manner without requiring a central
administrator. Despite its somewhat complicated
interface, EtherDelta was still the go-to exchange
for pro-DEX traders, astute investors, and exper-
imenters. EtherDelta has been largely successful
and held the record for the highest number of trans-
actions (10,353,359 transactions) by a single smart
contract on the Ethereum Blockchain.
For a decentralized exchange, EtherDelta seemed to
be doing really great…for a while.
THE SEC STRIKES
On the 8th of November, the United States Security
Exchange Commission (SEC) went after EtherDel-
ta’s co-founder, Zachary Coburn, charging him
for operating an unregistered securities exchange.
The regulatory body claimed that Coburn’s ERC-20
token trading platform was facilitating the exchange
of assets which it considered to be “digital asset
securities.”
Apparently, the use of an order book, an order dis-
play on website and smart contract for trade execu-
tion of tokens (which the regulatory body consid-
ered to be securities under federal securities law)
placed EtherDelta in the SEC’s crosshairs.
According to a statement released by the agency:
“EtherDelta’s smart contract was coded to validate
the order messages, confirm the terms and condi-
tions of orders, execute paired orders, and direct the
distributed ledger to be updated to reflect a trade.”
43
Stephanie Avakian SEC Division of Enforce-
ment co-director further explained that:
“EtherDelta had both the user interface and
underlying functionality of an online national
securities exchange and was required to register
with the SEC or qualify for an exemption.”
EtherDelta didn’t file for an exemption and
was, therefore, a culprit. Coburn didn’t admit
or deny the charges, however according to the
SEC release he fully cooperated with the regula-
tor and was granted a reduced penalty. Coburn
agreed to pay a $75,000 penalty, $300,000 in
disgorgement, and $13,000 in pre-judgment
interest.
FAR-REACHING
CONSEQUENCES…
LIGHT AT THE END OF
THE TUNNEL?
DEX proponents like to promote the
platform as a regulatory-immune
exchange, but with the misfortune
of EtherDelta, many are now forced
to reconsider their position.
But, perhaps there could be a silver
lining to all this…
Ordinarily, the SEC will prosecute
both an exchange and its opera-
tors for operating an unregistered
exchange, but this wasn’t the case
with EtherDelta. It’s almost impos-
sible to halt the operation of an ille-
gal smart contract, but persecuting
the individuals who launched the
contract is more feasible.

Prior to the SEC attack, EtherDelta’s users were
carrying out more than 3.6 million trades over
a period of 18 months. That number has drasti-
cally reduced in the wake of the SEC “interven-
tion.” Traders are now shying away from not just
EtherDelta, but other decentralized exchanges as
well due to the fear of possible SEC crackdown.
Moreover, experts in the crypto space are sound-
ing an alarm to other similar exchanges; they
have reached the conclusion that EtherDelta may
be the first of many. Confirming these fears, the
SEC didn’t stop with EtherDelta, a week later,
they went after Ethereum-based ICOs, Paragon
Coin Inc. and CarrierEQ Inc [Airfox], imposing
a penalty of $250,000 for each company for fail-
ing to register under Federal securities law.
This means that DEX’s will still
operate regardless of the SEC crack-
down since they can only go after its
creators. This will ensure that users
can withdraw their funds without
fear of the exchange shutting down.
In all this, perhaps there is one cru-
cial lesson here; the decentralized
exchange model is not sufficient to
escape the raging hand of securities
law and may need to evolve to sur-
vive going forward.
David Akilo @Kilo_Darv

The growing fear of the SEC is causing some DEX

to alter their business models in order to remain
on the right side of the law. IDEX, for exam-
ple, has announced that it will begin to imple-
ment KYC/AML verification; this will remove
the perk of anonymity and may make the DEX
start to resemble its centralized counterparts.

Securities lawyer, Jake Chervinsky, has sug-

gested that decentralized exchanges may begin
to operate anonymously to avoid the prying eyes
of regulatory bodies, while the SEC may also
expand its scope to target exchanges located out-
side the US.

21 CRYPTOS

Breaking
Blockades:
Bitcoin’s
Censorship-
Resistance
Tadge Dryja, from MIT’s Digital
Currency Initiative, once touted Bitcoin
as the currency of enemies. It’s a very apt
characterisation in more ways than one —  i t
speaks to the soundness of a money that is
used by everyone (and not simply by a sin-
gle group), though perhaps more impor-
tantly, it refers to the adversarial environ-
ment that Bitcoin is designed to run in.
Trust in other parties, insofar as the pro-
tocol is concerned, is not a feature, but a
bug.
Indeed, at the heart of cryptocurrency
(well, some more than others) lies an
ethos of self-sovereignty —  t he idea that no
participant is dependent on another
to secure their funds. Barring a takeo-
ver of the network by an actor or consor-
tium with majority hashpower —  a n act of
FUEL
suicide, as dollar value of the coins mined would
plummet as the network discovers that it has been
compromised —  o r a critical bug, users are free to
transact with whoever they please, anywhere and
at anytime.
BITCOIN AS A PAYMENT
PROCESSOR
Setting the digital gold standard/sound money
arguments aside for the moment, Bitcoin is still a
formidable payment processor, even if the sender
or receiver have no interest in the coin itself. It’s
trivial for the parties to use on/off-ramps so as to
exchange fiat for Bitcoin (or vice versa), though an
exchange where neither party wishes to keep the
funds in cryptocurrency would probably result in
significant slippage of value (on-ramp exchange
rate + (minimal) on-chain fee + off-ramp exchange
rate).
Many would argue, however, that the positives
outweigh the negatives —  f ee estimation on West-
ern Union to transact $100 to the Philippines from
the US begin at $3.99 (transaction settled to a bank
account in 4 business days), and go up to $10 for
the trading partner to be able to collect the funds
from a physical location within minutes. Sending
above a certain amount with such a service (or for
any amount with a bank transaction), you also get
to enjoy the wonders of KYC/AML.
Such payment systems have their uses, though they
pale in comparison to the capabilities of Bitcoin —  i n
October, a pseudonymous entity moved close to
30,000 BTC (~$188m) with a fee of $0.1 (only ~0.8
BTC was sent to a new address, with the remainder
being returned to the owner as change). The Bitcoin
network didn’t ask for a scan of their passport, nor
did it question the source of the wealth or care about
where it was headed. The recipient could have been
anyone from an animal shelter to a violent group of
insurgents.
Bitcoin’s agnosticism is undoubtedly one of its great-
est strengths. It’s a technology for the transfer of
wealth, free of the legal and moralistic constraints
that bind existing financial institutions —  p artici-
pants do not seek approval from intermediaries.
45

This Austrian concept
of free market money
has made it valuable
not only as currency
in condoned market-
places, but equally
on those deemed ille-
gal or frowned upon
(ultimately, isn’t the
the strongest form of
money that which is more widely accepted?).
Inextricably intertwined with the history
of Bitcoin are use cases where cryptocur-
rency has been a necessity to route around
a financial system that stands at odds with
what many would consider to be fundamen-
tal freedoms.
THE SILK ROAD, FLEXIN’ ON
DAPPS SINCE 2011
Try as we might to shirk the stigma of Ross
Ulbricht and his heinous crimes (running a
website and having the audacity to promote
free trade), it’s undeniable that the Silk Road
played a notable role in bootstrapping Bit-
coin —  t hough it only accounted for roughly
4% of the cryptocurrency economy, this
didn’t stop sensationalist headlines racking
up clicks by covering the dystopian drugs/
weapons/fake documents marketplace
where untraceable non-government-issued
money was used to order hits (in every sense
of the word).
The Silk Road leveraged encryption, Tor and
Bitcoin to flesh out a cypherpunk dream
(eventually falling apart due to some flaws
in Ulbricht’s OPSEC). The negative por-
trayal of Bitcoin during its operation (and
even to date) has done little to hinder its
growth. There’s no reputational damage,
aside from that dealt to nocoiners when they
try to bring it up as an argument for why
Bitcoin won’t work – again, it’s just a pro-
tocol, not a business. Everything from ten-
nis balls to fiat can be used for illicit trans-
actions (spoiler alert: the latter is still the
weapon of choice for money launderers).
21 CRYPTOS
Tadge Dryja
from the
MIT Digital
Currency
Initiative
Photo taken by
Joi Ito, source:
Flickr
THE REPLATFORMING OF WIKILEAKS
Predating the Silk Road by a year, Wikileaks was another early
proof-of-concept that demonstrated the value of Bitcoin in the
face of adversity. Due to the nature of Julian Assange’s notori-
ous repository for classified document dumps, it’s unsurpris-
ing that the US government pushed companies like Visa, Mas-
tercard and PayPal to deplatform the organisation. Left with
few options, Wikileaks opted to use the fledgling Bitcoin for
donations (much to Satoshi’s discontent).
As well as circumventing a financial blockade, Wikileaks’
early adoption certainly paid off, as Assange announced in a
2017 tweet:
“My deepest thanks to the US government, Senator McCain
and Senator Lieberman for pushing Visa, MasterCard, Payal,
AmEx, Mooneybookers, et al, into erecting an illegal banking
blockade against @WikiLeaks starting in 2010. It caused us to
invest in Bitcoin —  w ith > 50000% return.”
Deplatforming is definitely en vogue these days, stemming
from an asymmetry in the powers wielded by an oligopoly of
tech/finance companies versus the relative powerlessness of
users. We’ve seen it being deployed against organisations that
generally hold political views deemed unsavoury.
Disagree with their views? That’s perfectly fine. You may not
be a fan of right-wing ideology, but you should be a fan of
freedom of expression. You should be concerned that pay-
ment processors have taken on the role of judge, jury and
executioner, with the ability to majorly disrupt operations
of individuals and businesses.
The longer these shenanigans continue to go on, the more
censorship-resistance becomes a necessity. Luckily, Bitcoin
doesn’t rely on Proof-of-Social-Justice.
Matt B @MattoshiN

Lovin’ the
Dollar:
Cash, Bitcoin
& Crime
Bitcoin is ten years old and at its birth, law
enforcement offcials around the world were
worried that this innovative technology, this
new version of money, would make it impossi-
ble for them to do their jobs. Money launder-
ing, drugs, prostitution and human traffick-
ing were all going to increase because Bitcoin
was a shadowy entity with no central control.
The anonymity of this new currency was going
to make crime impossible to prevent. But had
they forgotten cash? In the criminal under-
world, cash was, and still is, king.
Ask the majority of people today about Bit-
coin and they still believe the old trope that
it is only good for illegal drugs, pornography
and terrorism. But do they feel the same way
about the paper money in their wallets? Prob-
ably not, but they should.
Earlier this year, Japan’s National Police
Agency said that they received reports on 669
cases of suspected money laundering linked
FUEL
to cryptocurrencies between April and December
2017, however, 347,000 money laundering cases
were reported by conventional banks in the same
time frame. Cash certainly seems to be favoured by
criminals.
According to Europol, the use of cash is the main
trigger for suspicious transaction reports within the
financial system in the EU, in fact, it’s more than
30 percent of all reports. Former Europol Director
Rob Wainwright, said that linking cash to criminal
activities remains a challenge for law enforcement:
“A fragmented enforcement approach at national
and international levels, and the differing regula-
tory frameworks across the EU member states are
widely exploited by criminals, who adapt their
methods and routes to take advantage of these loop-
holes. Stepping up efforts to increase international
cooperation and information exchange, and estab-
lishing a more harmonized approach among EU
member states concerning cash movements within
the EU, are crucial if we are to tackle these criminal
activities”.
Fiat money is the main motivation for most crime
and it is the architect behind criminality. This is
true whether it is illegal arms sales, blood diamonds
or human trafficking, in fact, the petty criminal
who’ll mug you for your wallet has the same moti-
vations – cold hard cash. Cash fuels the black mar-
ket, it also offers anonymity and is very difficult to
trace. Cash opens up the criminal life to everyone.
Cryptocurrencies can make crime convenient for
small-time crooks. Selling smallish quantities of
drugs to someone in Beijing from a flat in London
means no physical contact is needed and nobody is
able to seize the cryptocurrency or halt authoriza-
tion. But anyone wanting to liquidate a large sum
of ill-gotten gains will find the crypto world less
than adequate.
Criminals are often the first to adopt innovative
technologies, from mobile phones to the internet, and
will embrace the new to commit old school crimes.
However, the things that make Bitcoin appealing to
criminals are the very things that will limit its use-
fulness to them. Bitcoin can be traced; every sin-
gle transaction is forever on a public blockchain.
The idea that Bitcoin is completely anonymous is
incorrect, it is pseudo-anonymous. Government
47
 10%
agencies can follow the “money” by monitoring each the internet using
wallet because it is on a public blockchain. With most Bitcoin. The author-
exchanges insisting on the ‘know your customer’ (KYC) ities are on top of
policy, full anonymity is less of an option. It’s possible it and illegal activ-
to make cryptocurrency transactions harder to trace, ities are uncovered Proportion of on-chain
but does the complexity of doing this add much more and stopped, then Bitcoin transactions
that is accounted for
risk to a potential reward? followed rapidly by
criminal activity
prosecutions. Law
Cash is a great leveller, there’s no need to be well-in- enforcement agen-
formed in order to understand how it works. How cies around the world
educated were Butch Cassidy and his sidekick, Harry are moving with the
Longabaugh, aka The Sundance Kid? Or Bonnie and times and are ana-
Clyde? All they needed was the will to commit their lyzing blockchain
crimes and the desire to live the high life that stolen data to observe and
money could offer them. The lawbreakers in the mod- trace illicit actions.
ern world are not so very different.
“Criminal activity
And if you amass a fortune in Bitcoins through nefar- accounts for approx-
ious activities, cashing it out into fiat isn’t as sim- imately 10 percent
ple as you’d think, particularly if you’re trying to of on-chain bitcoin
hide it from the authorities. Criminal’s profits most transactions, down
often come in the form of cash that they seek to laun- from a high of 90 percent in 2013 prior to the U.S.
der through various channels, and laundering your government’s takedown of The Silk Road”, says
ill-gotten gains is a lot easier with fiat money. Anti- Lilita Infante, a DEA specialist agent. “The block-
money laundering laws (AML) are employed in order chain actually gives us a lot of tools to be able to
to keep an eye on money flowing through financial identify people,’’ she said. “I actually want them
institutions, and there are countless ways to circum- to keep using them.’’
vent the laws - smurfing (breaking up a transaction
involving a large amount of money into smaller trans- According to the United Nations Office on Drugs
actions), investing in portable commodities like pre- and Crime, the estimated amount of money
cious gems or gold or spending on valuable assets like laundered globally in one year is 2 - 5% of the
real estate. Restaurants, cattle ranches, water parks, global GDP, or $800 billion US dollars. This is an
used car lots…they’ve all been used to launder money. astounding amount of money and it doesn’t take
But before you can launder it, you need to hold it in cryptocurrency into account.
your hands. That’s not as easy when it comes to cryp-
tocurrencies. Exchanges and their KYC policies make There’s a lot of talk about banning Bitcoin (impos-
it difficult to withdraw large sums of money without sible) but there’s also talk about eliminating cash
drawing attention from law enforcement agencies. as a way to combat crime. We would do well to
remember Fyodor Dostoevsky’s words: “Money
Writing in the New York Times, Kevin Werbach, pro- is coined liberty, and so it is ten times dearer to
fessor at the University of Pennsylvania says: “The a man who is deprived of freedom. If money is
problem for criminals is that it’s possible to reconstruct jingling in his pocket, he is half consoled, even
Bitcoin identities from transaction patterns. The cur- though he cannot spend it”. This applies to the
rency moves through gateways, exchanges and wallet law abiding citizens of the world as much as it
systems, which makes it easier for people to acquire, does to the criminal underworld. This liberty is
store and use cryptocurrency in a world that still speaks what makes cash the first - and best - choice for
dollars and euros. However, these systems are usually crime.
centralized, so they can be traced, and their administra-
tors can be asked to cooperate with law enforcement”. Fiona Cochrane @fi_writing

AML is catching up with technology and times have

changed. We no longer live in the age of the Silk Road,
where dodgy transactions could safely be made over

21 CRYPTOS
 SPONSORED

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ETHERSHIFT
THE ETHEREUM ERC20 EXCHANGE
Like a lot of traders, at some point in your trading
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do so anonymously. Enter EtherShift, the new ERC20
exchange set to change the landscape of Ethereum
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SELL YOUR ICO TOKENS ON THE DAY
THEY’RE RELEASED
All too often ICO investors are left waiting months before their
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100% ANONYMOUS is one of the reasons why people may avoid buying ico tokens,
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NO ACCOUNT NEEDED locked away. There is, of course, also the risk that the tokens
To get started with EtherShift you don’t need will not list on a major exchange at all. With EtherShift, if you’ve
an account, you don’t need verification, invested in an ERC20 ICO, the second the tokens are released
all you need is a humble cryptocurrency to investors is the same second that you can begin trading with
address. That’s it. If you can recieve them. Time is a trader’s most valuable tool - and saving it is one
cryptocurrency, you can trade on of the most precious gifts an exchange can give to its users. If
EtherShift. Personal data is one of an ERC20 token exists, Ethershift plans to trade it. EtherShift
the world’s largest businesses, and will start with over 60 tradable tokens and will quickly begin
the sheer amount of yours that can adding up to 200 over the next few months.
be collected by other centralised
exchanges is a terrifying reality. Your
right to remain anonymous is upheld
with EtherShift, as your data never
goes anywhere near the exchange.
Your name, your image, your address -
will all remain safe where they belong,
with you, and will never fall into third
party hands to be bought and sold all round
the world.
GIVING BACK TO THE PEOPLE
EtherShift’s goal is to build positive relationships with
its users. While some exchanges may have poor customer
service, unreasonable fees, or take advantage of their
users, EtherShift, using their native tokens, has vowed
to give 50% of all their fees back to users every quarter.
Trust and altruism are key tenets of any successful
business, by showing that their users come first, always,
they’re already light years ahead of the competition.
ALLSTAR ADVISORS
Amongst a team of big-names including Simon Cocking,
Daniel Abela, Mate Tokay, and Edward W. Mandel, one
name will be the most familiar - the infamous John
McAfee. McAfee shot to fame with the anti-virus software
of the same name, and since entering the world of
cryptocurrency with a bang, he’s left his mark of success
on numerous projects, the latest being EtherShift. With
one of the sharpest and most experienced teams in the
game choosing to back the exchange, EtherShift is on
track to be one of the most successful new projects going
into 2019.
BUY ANY ETHER TOKEN FAST WITH
ETHERSHIFT SCAN&GO
Life is fast, and so is trading. It’s time to make it easier.
Ethershift Scan&Go is the easiest way to acquire up &
coming tokens. The Ethershift Scan&Go widget displays
a QR code for the token you'd like to buy. Simply scan
the code, and send any amount of Ether. That's it.
Within minutes you'll receive the token requested. For
businesses and those wanting to earn a little side income
- the Ethershift Scan&Go widget offers the ability to
install the software on your website and immediately
open an extra income stream, getting paid as an affiliate
while you sleep.
21 CRYPTOS
SECURITY COMES FIRST WITH MULTITOKEN
ETHERSHIFT WALLET
Security is the key concern in risk management. Hacks
have been commonplace for years, and they won’t go
away any time soon. The Ethershift wallet provides
support for any ERC20/233 token and allows for
near instant exchange between tokens. With the
highest priority given to security, all private keys
are stored locally under several layers of protection,
and with a built in Web3 browser, interacting with
decentralized applications has never been easier.
PROJECT PHOENIX:
ETHERSHIFT PUTS PICASSO ON THE
BLOCKCHAIN
It’s not just the business side of cryptocurrency that makes
it such a compelling industry . It’s the social side too. The
projects that people care about the most are the ones they
can put their emotions into - and what better way to connect
and to feel than with artwork? The future is here as fine art
meets blockchain technology.
EtherShift has partnered with the blockchain-based art
investment platform Maecenas, and with the help of advisor
John Mcafee, the three will create the first ‘perpetual’
digitalization (and tokenization) of one of Picasso’s fine art
works.
‘We are tokenizing a masterpiece, and making the painting
perpetually inaccessible. Any eventual release date of the
physical painting can only be decided via a voting process
by token holders, after the minimum amount of time has
passed well into the future.’ says the Maecenas platform.
‘The auctioning process will be executed using Maecenas
technology. The newly created digital asset, the first of its
kind, will be represented as a single ERC721 token for the
digitalized artwork. A fixed number of ERC20 tokens will
separately represent shared ownership in the physical asset.’
Project Phoenix is also the first time this process will be done
in a decentralized manner. The auction will take place around
the end of the year, so watch this space!
 ROADMAP:
ACHIEVEMENTS UNLOCKED, AND THOSE
YET TO COME…
EtherShift has achieved a lot in 2018. In fact it’s
only been a year since the idea for the revolutionary
exchange occurred to founder and CEO Josh Case. As
with all great ideas, things move fast. In the first few
months after the team came together, they’d already
developed version 1 of their project, launched Ethershift.
co, and listed 25 tokens. By quarter 3 they’d planned and
announced their ICO sale, and started working furiously on
their Wallet and API, and the revolutionary Scan&Go concept.
By the end of the year, they’d released their wallet, added 50 new
tokens, and started a monumental marketing campaign to make
the public aware of EtherShift’s plans to take the cryptocurrency
world by storm.

Quarter 1 of 2019 is going to be a big one. The Scan&Go technology

will be released to the public, the EtherShift API will launch, allowing
for wallet, merchant, and ATM integration, and the first of EtherShift’s
native token (ESH) user airdrops will take place - giving 50% of the
exchange’s fees back to the community.

THE ETHERSHIFT TOKEN

SALE
The 1 week presale sold out.

The first 2 week main sale reached

an incredible 75% hardcap.

The final main sale runs from

EtherShift partnered with
December 3rd to the 16th.
advisor John Mcafee to
create Project Phoenix For 1 Ether, an investor will receive
200 of EtherShift’s native tokens.

The hardcap is 10,000 Ether

The amount of tokens available is

2,000,000.

You can buy tokens now at

ico.ethershift.co

ETHERSHIFT 51
' `
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 #
THE

21
21 PROJECTS YOU
NEED TO KNOW ABOUT
FOR THE MONTH
AHEAD

RESEARCH & DATA BY 21CRYPTOS

Words by Carl Gunaratnam, @EricCointona

Scienceroot
ROOT AND BRANCH
ICO
CHANGE FOR SCIENTIFIC
DEVELOPMENT
Making new discoveries that push the human
race forward should be the hardest part of
a scientist’s job – however, current central-
ised systems place a number of other hurdles
in their way. Scienceroot will use the block-
chain to remove them.
Access to existing research libraries is often
costly or limited, while those who publish or
review papers in centralised journals receive
scant reward. Scientists also miss out on vast
amounts of existing research because null
hypotheses and negative results are rarely
ever published.
Access to the three key services scientists
need to conduct their research; collabora-
tion, funding and publishing, is also extreme-
ly fragmented - so much time and resource
is wasted dealing with multiple platforms.
Scienceroot has the answer. By providing a
one-stop-shop, built on the Ethereum block-
chain, they aim to cure all of these pain
points and reward contributors fairly.
An Alpha version of their app is already avail-
able for testing, and the next round of their
token sale commences on 15 January 2019.
21 CRYPTOS
TRANSFERRABLE ID
1
Building a bridge to existing systems, Scienceroot plans to
embed identification systems like ORCID and ResearcherID
into their blockchain platform. This will allow researchers
to have immutable digital IDs that can be integrated with-
in Scienceroot workflows from grant application to manu-
script submission and publishing.
TOKENIZED SCIENCE
The ERC-20 Science Token will allow for instant cross-bor-
der transactions – breaking down barriers that currently
impede the collaboration and reward processes.
It will also be used to purchase services on Scienceroot’s
decentralised scientific marketplace and to incentivise
contributions to their Q&A forum, while researchers can
also crowdfund their projects using the token.
Peer-reviewers will be incentivised and Scienceroot will
also initiate a rewards program for the authors of scien-
tific papers. Every six months the top cited articles will
be ranked, with the authors receiving rewards in Science
Token. Readers will also be able to ‘tip’ authors for useful
articles.
GITHUB FOR SCIENCE
Scienceroot will create a decentralized publishing frame-
work and journal that will allow scientists, researchers and
 (Left)
Research
being
done at
Bristol
Robotics
Laboratory,
Stoke
Gifford, UK

academics to transparently publish and access scien- TEAM

tific studies.
Researchers will have access to a far wider knowledge
pool, including studies that ended with null hypotheses
and negative results.
Individuals and established publishing businesses will be
able to make use of Scientific Repositories to store time-
stamped, immutable manuscripts on the blockchain.
This trustless “proof of existence” means research can
be shared transparently without the possibility of theft,
while repositories can also be contributed to, comment-
ed on, and even forked for use on similar projects.
COLLABORATION
At the core of Scienceroot’s offering will be a collabora-
tion platform enabling scientists, researchers and aca-
demics to work together on common projects and get
answers to burning questions from experts in their field.
Alexandru Chirita, MSc, Co-Founder & Sci-
ence Lead
Physicist currently doing his PhD at the Uni-
versity of Vienna. His thesis is entitled “The
predicted influence of temperature on
knock-on damage in graphene”.
Vlad Günther, Co-Founder & CEO
Consultant, Engineer and Project Manager
formerly of Microsoft and Bosch.
Frederik Huschebeck, Blockchain
developer
Former Support Engineer at Microsoft
and Application Developer at Infoso and
DYNAmore.

Content will be stored securely on the decentralised plat-

form using IPFS (Interplanetary File System) and Ethere- ICO DATA
um Smart Contracts will be used to automate agree-
ments. For example, if a researcher posts a question on PRICE 0.046 USD
the platform, a smart contract will ensure that the expert
BUY AT Official Website
who answers satisfactorily receives the agreed-upon
ICO DATES Jan 1- Feb 15, 2019
reward.
NO. OF TOKENS 300 000 000
The Decentralised Marketplace will also allow experts PRICE PER TOKEN 0.046 USD
to offer writing and editing assistance, result verifica-
CEO Vlad Günther
tion and equipment rental to other scientists, globally,
without the need for an intermediary. CO-FOUNDER Alexandru Chirita

BLOCKCHAIN
Sven Seemann
DEVELOPER
FUNDING THE NEXT BIG DISCOVERY www.scienceroot.com

Twitter @scienceroot
Scienceroot will offer scientists, researchers, and aca-
demics access to grants and employment through their LinkedIn Scienceroot

funding and jobs platform.

#THE21 57
 2
COIN

carVert ical
DRIVING TRANSPARENCY FOR
CAR BUYERS

Have you ever bought a second-hand car with a carVertical’s ERC-20 CV utility token will be used
‘clean bill of health’ only to find out soon after that to pay for services on the carVertical platform
it had a raft of undisclosed damage? Help is at and to reward users of its carWallet for a varie-
hand. ty of tasks including ID creation. carWallet users
can also earn CV tokens by sharing access to
carVertical is using blockchain technology to cre- their data with third parties.
ate a free, immutable and transparent registry of
car history data that can rebuild trust in the used-
car market and save consumers vast sums of money.
TEAM
As vehicles pass from owner to owner, valuable
data on servicing, mileage, defects and accidents Audrius Kučinskas, co-founder
is lost between manufacturers, insurance compa- Full stack engineer developing web and soft-
nies, workshops and private logs. The problem is ware products since 2007.
even more pronounced when transferring vehicle
ownership across borders as centralised registries
Rokas Medonis, Co-founder
rarely share data with each other.
Managing Director and co-founder of fast
All too often, buyers fall victim to fraudulent activity food chain Keule Ruke and board member
with an estimated 30% of the world’s car fleet show- of privately held venture capital fund Startup
ing incorrect mileage due to deliberate odometer Highway.
tampering.
Arnoldas Vasiliauskas, CIPO
Creating a blockchain registry of car data, that
Former CMO for Citroën Lithuania. Also, a for-
cannot be tampered with or lost, is only one part
mer executive with Mitsubishi Motors and
of carVertical’s solution however.
Honda.
carWallet, a mobile app set to launch this month in
Beta, will allow owners to register a unique car ID
on to the blockchain through Civic’s Secure Iden-
COIN DATA
tity Ecosystem. The app itself will find and attribute
data from a variety of official sources to the car ID,
creating a maintenance history report which also TRADING PRICE 0.000424 USD
includes vital information on insurance, inspection MARKET CAP $2.7M USD
dates and maintenance schedules.
CIRCULATING SUPPLY 7 746 292 303 CV

carVertical plans to monetize their offering by pro- TOTAL SUPPLY 9 931 143 978 CV
viding paid reporting, enhanced by machine learn- DAILY TRADING VOLUME $61K USD
ing, to prospective car buyers.
BUY AT Kucoin /IDEX /BitMart

An API (Automated Programming Interface) will CO-FOUNDER Audrius Kučinskas

also be offered to large companies in the auto- FULL STACK ENGINEER Alex Nelkinas
motive market. Set for launch in January 2019, the
BLOCKCHAIN ENGINEER Arūnas Vaitkus
API will allow companies to integrate carVertical’s
blockchain solution with their in-house systems. A www.carvertical.com
white label opportunity will also be available for Twitter @VerticalCar
anyone wishing to use carVertical’s technology to LinkedIn carVertical
create their own car registry database offering.

21 CRYPTOS
3
S TA K I N G

Pundi-X
(NPXS)

COIN DATA
BUYING CRYPTOCURRENCY
TRADING PRICE 0.000689 USD

www.pundix.com

Twitter @PundiXLabs

LinkedIn Pundi X
SHOULD BE AS EASY AS BUYING
MARKET CAP $97.1M USD
A BOTTLED WATER
CIRCULATING
142 603 994 148 NPXS
SUPPLY Pundi was created with the intent to make using
TOTAL SUPPLY 280 255 193 861 NPXS cryptocurrency as easy as buying bottled water.
DAILY TRADING Pundi offers POS (point-of-service) solutions both
$3M USD to retailers and customers to spend their crypto-
VOLUME
currencies all over the world.
BUY AT Binance / LATOKEN/ Allbit

CEO Zac Chea

CTO Pitt Huang REASON TO WATCH

CFO Danny Lim
Staking well at the moment with a reward of 87%.

4 Ethereum
Classic
MINING

(ETC)
DECENTRALIZED. IMMUTABLE.
UNSTOPPABLE.
The code is law. At the dawn of the DAO disaster,
Ethereum Classic forked away from the ability of
Ethereum to change, in order to avoid further sim-
ilar attacks. Born from the need to stay faithful to
COIN DATA the code, Ethereum Classic thrives to this day.

TRADING PRICE 4.85 USD

www.ethereumclassic.org

LinkedIn Ethereum Classic

Twitter @eth_classic

MARKET CAP 488.3M REASON TO WATCH

CIRCULATING Among its competitors, it currently has a lower dif-
106 098 339 ETC
SUPPLY
ficulty, which makes it easier to mine more coins.
TOTAL SUPPLY No fixed supply More bang for your buck.
DAILY TRADING
$180M
VOLUME

BUY AT ZBG/ OKEx/ LBank

ETC IS BACKED ETCDEV

BY SEVERAL IOHK
ORGANIZED
TEAMS, E.G. ETC Cooperative

(Right)
TANZŌ is a
highly secured
craft purchasing
platform.
5
ICO

TANZŌ
CRAFTY FIX FOR THE HAND- TEAM
MADE GOODS MARKET
Georgi Manchorov, Co-founder & CEO
Industry projections suggest that the global handmade Co-founder of Ad Crunch, a large ad
goods market will be worth $150bn by 2020, and TANZŌ serving network.
wants to make it work fairly for everyone.
Vassil Guenov Co-founder & CTO
Currently, crafters wishing to sell their goods online face high
listing fees and competition from counterfeit or mass-pro- Founder of OrangeDot and Software
duced goods sellers who can offer far lower prices. Development lead at Hive project

Online buyers also have a hard time identifying and authen- Rossitsa Kostova, Platform Lead
ticating genuine hand-made originals before purchase. Qualified full-stack software engineer
and technical lead with a strong back-
TANZŌ will protect both the creator and the buyer of hand-
ground in PHP, Python and Javascript.
made goods with its blockchain-based social marketplace.
Technical Lead at NewCryptoBlock.
Geolocation and timestamp functionality will be used to
give genuine crafters a verifiable, authentic identity on the
blockchain – allowing them to create their own, verified
digital storefront.
ICO DATA
A “Proof of Craftsmanship” QR code system will give buy-
ers total transparency of key product information, provided PRICE 0.04 USD
by verified sellers, including a time and location stamped BUY AT Official Website
picture, raw materials used and the time needed to make
ICO DATES Jan 10- Feb 10, 19
the item.
NO. OF TOKENS 500,000,000
Payments made in cryptocurrency, including TANZŌ’s own PRICE PER TOKEN 0.04 USD
ERC-20 token -TZO, and the product review process, will
CEO Georgi Manchorov
be managed by Ethereum Smart Contracts - adding addi-
CTO Vassil Guenov
tional protection for both the buyer and the seller.
BUSINESS
Svetoslav Georgiev
All users will also benefit from lower fees as TANZŌ plans to DEVELOPMENT
only charge $0.05 in listing fees and up to 1.5% in transac- www.tanzo.io
tion fees. 35% of all fees collected will be returned to users
Twitter @TanzoOfficial
as an incentive to participate in the ecosystem.
LinkedIn TANZŌ
TANZŌ is currently conducting a private sale for their TZO
tokens with a full ICO coming soon. Version 1 of the TANZŌ
platform is scheduled to launch in the middle of 2019.
 6
(Next page)
Griffith
Observatory,
ICO Los Angeles,
United States

Telescopia
ICO DATA

A DECENTRALISED WINDOW TO THE PRICE 0.48 USD

STARS BUY AT Official Website

ICO DATES Apr 1- Jun 1, 19

Blockchain start-up Telescopia will open up the skies to a NO. OF TOKENS 90,451,461
whole new set of stargazers, while allowing telescope own-
PRICE PER TOKEN 0.48 USD
ers to receive a semi-passive income from their equipment.
CEO Ahmed El Desouki
Owning a telescope is an expensive business. Many bud- CTO Marina Boules
ding astronomers, photographers, schools and students are
CIO Osama Shehata
often unable to access high quality equipment at all. Even
www.telescopia.io
when they are, seasonal changes mean usage is usually lim-
ited to 12 hours a day and 6 months a year. Twitter @Telescopia_inc

LinkedIn Telescopia
This also reduces the opportunity for telescope owners to
monetize their equipment. Furthermore, in most cases they
are even unable to test out expensive telescopes before
committing to a purchase.

Guided observation sessions and Sky-

MULTILINGUAL LIVE TELESCOPE
EXPERIENCE
Telescopia will use a powerful combination of telescope
streamlining, cryptocurrency payment and blockchain’s
decentralisation capabilities to provide a fairer system for
equipment owners, students and researchers around the
globe.
Using Telescopia’s SkyMap, a virtual depiction of all celes-
tial objects within the observable universe, users can hone-
in on specific objects they wish to view or select more gen-
eral solar system “SkyTours”. Once a user has paid in fiat, or
Telescopia’s ERC20 CYRS tokens, the platform will automat-
ically search and elect a provider, narrator and server that
matches the user’s requirements, and a live stream will be
opened for the user group.
Telescopia’s unique software will control and direct the
selected streaming telescope while the narrator details the
observation for the users.
A GeoMap records the elevation, forecasted weather and
sky clarity of any given area on Earth – helping Telescopia
to locate an online telescope in the best location for any
given session, whilst also offering owners advice on the best
place to set up their equipment.
Tours are just the tip of the celestial ice-
berg though. Telescopia will also offer
more customised telescope bookings, a
lecture room feature for teachers and
allow providers to offer Astrophotogra-
phy services – amongst a raft of addi-
tional features.
TRANSPARENT PROVIDER
ELECTION AND REWARDS
Telescopia provides equipment own-
ers with a much needed mechanism for
monetizing their expensive telescopes.
Indeed, they estimate that an average
provider in 2020 – who commits their
equipment to Telescopia for three hours
a day over a 6 month period will attract
revenue of $29,186.84.
A session election algorithm will ensure
all providers get a fair share of the oppor-
tunities available. The algorithm selects
providers for any given session based on
a number of weighted factors including
location, equipment, time of day and

#THE21 61
a ‘priority’ factor that regulates activity across
providers so that one does not attend more ses-
sions than another.

Every algorithmic calculation will be applied as

a transaction on the blockchain, and thus will
be viewable by all participants for additional
transparency.

RENTABLE CYRUS (CYRS)

TOKEN

Telescopia’s CYRS ERC-20 token is used in every

transaction on the platform that interacts with
their smart contract. Providers also need to hold
10,000 CYRS per telescope in order to participate.

Users can rent out or lease their tokens to oth-

er users who may need them to become a pro-
vider for a certain period of time, for example.
The lease will be guaranteed by a smart con-
tract and the leasee can utilize the tokens in the
same way any provider or service user would.

Telescopia’s pre-ico is scheduled to commence

in January 2019, with the launch of object obser-
vation services and provider integration to fol-
low later in the year.

TEAM

Ahmed El Desouki, Founder and CEO

8 years of experience as a Senior Software
Developer, Lead Software Engineer and Soft-
ware Project Manager. Founder and CEM of
the Egyptian ERP and I.T. consultancy agency:
Pylux Solutions, LLC.

Marina Boules, Chief Technology Officer

Over 5 years’ experience as a Senior Software
Developer working on a variety of projects
including: CAD kernel algorithms, applied neu-
ral networks, big-data, and ERP.

Mohammed Sallam, Astronomy Advisor

The only Egyptian/Arab astronaut candidate
in Mars One program, aimed at establishing a
permanent settlement on Mars by 2031.
7 8
BIG RISE BIG DIP

Fox Edgeless
Trading (EDG)

(FOXT)
COIN DATA

INTRODUCING THE ULTIMATE TRADING PRICE 0.075 USD

www.edgeless.io

Twitter @edgelessproject

LinkedIn edgeless.io
TRADING SYSTEM MARKET CAP 6.7M USD

CIRCULATING SUPPLY 97 818 696 EDG

With previous experience in Binary Options and
Forex markets, Fox Trading has created a plat- TOTAL SUPPLY 132 046 997 EDG
form for crypto enthusiasts to trade in a decen- DAILY TRADING
$67,000
tralized way. Its algorithm promises to help trad- VOLUME
ers perform successful trades in and out. BUY AT Bittrex/Upbit/HitBTC

CTO Ignas Mangevicius

REASON TO WATCH COO Tomas Lukosaitis

HEAD OF
One of the biggest mid-term gainers at the time Julia Altenried
DEVELOPMENT
of writing.

COIN DATA EXPERIENCE FIRST ETHEREUM

'SMART-CONTRACT' POWERED
TRADING PRICE 0.137 USD CASINO
www.foxtrading.io

Twitter @foxtradingfx

LinkedIn Fox Trading SL

MARKET CAP 992.700 USD

Fully transparent online casino. You have several
CIRCULATING games to choose from: Dice, Blackjack, Baccarat,
7 030 000 FOXT
SUPPLY
Crash, Sports Betting, and Poker. Thanks to Ethere-
TOTAL SUPPLY 9 250 000 FOXT um’s Smart Contracts all transactions are transpar-
DAILY TRADING ent. EDG tokens are used to stake/fund the bank-
$158,000
VOLUME roll of Edgeless games.
BUY AT Hotbit/ Mercatox

CEO Sergi Fernàndez REASON TO WATCH

FX & STOCKS
Jaume Pina
TRADING EXPERT What goes up may go down, and what goes down
may go up. One of the biggest losers this month,
BLOCKCHAIN
Zenos Pavlakou Edgeless is in a good position for risk-prone investors.
DEVELOPER

(Right)
The Edgeless
coin is the
first fully
transparent
online casino
powered by
Ethereum
smart
contract
9 10
BIG CAP LOW CAP

ODEM Dether
(ODE) (DTH)

COIN DATA BUY AND SELL CRYPTO WHEREVER

YOU ARE IN THE WORLD
TRADING PRICE 0.233

www.odem.io

Twitter @ODEM_IO

LinkedIn ODEM.IO
Dether’s goal is to become a platform for people to
MARKET CAP 47.2M USD
easily buy and sell crypto for cash around the world
CIRCULATING and spend it at physical stores. It allows merchants
218 002 386 ODE
SUPPLY
to offer a service where people can buy goods with
TOTAL SUPPLY 268 946 131 ODE cryptocurrency or exchange it for cash.
DAILY TRADING
850,000 USD
VOLUME
REASON TO WATCH
BUY AT DragonEX/ BitForex

CEO Richard Maaghul It’s a low cap, it’s been around for a while, but it
CTO Bill Bayrd already allows your shop to be registered in the plat-
form’s database, so any crypto customers you may
CMO Oliver Durrer
have will be able to use their crypto at your shop. A
use case is always promising.

UNLOCKING HUMAN
POTENTIAL COIN DATA
Through blockchain technology, ODEM allows
TRADING PRICE 0.008993

www.dether.io

Twitter @dether_io

LinkedIn dether
students and educators to interact and
exchange information without intermediar- MARKET CAP 725,000 USD
ies. It combines real-world classroom expe- CIRCULATING SUPPLY 83 600 000 DTH
rience with the agility and flexibility ‘of the TOTAL SUPPLY 100 000 000 DTH
best parts of online education’.
DAILY TRADING
$80 USD
VOLUME

REASON TO WATCH BUY AT Ethfinex/ IDEX

CO-FOUNDER Abdelhamid Benyahia

The coin has steady demand, and the pro-
CO-FOUNDER Mehdi Amari
ject is solid in beta testing phase.
Gese
PROTECTING CONSUMERS FROM
COUNTERFEIT ALCOHOL
11ICO

Globally, around 500 people die every day due to TEAM

counterfeit goods. A sobering thought.
Andrew Yakovlev, Co-Founder & CEO
Gese plans to protect consumers from counterfeit
alcohol, using blockchain technology and Near Field Pavel Bobosik, Co-Founder
Communication (NFC) tags to track every bottle’s
Glass container production expert. Vice-
journey from the manufacturer to the consumer.
President of the International Beer Convention
Having developed their own blockchain, the Gese Senate, a member of the Executive Council of
solution allows alcohol manufacturers to create Czech Beer, the Malt Association, and others.
immutable records for their products, individually
for vintages or as part of a range. Alexey Pechkin, CTO
Number 1 in the ‘Top 100 young scientists of
NFC-tags added to each bottle will allow the con-
the Russian Federation’ list, he also spent three
sumer to place their smartphone over a product
years at the Technological Institute (MTI).
to access all its blockchain-stored information and
verify its authenticity.
Alexander Strakh, Engineer
Additionally, QR codes can also be added to prod- Has already implemented more than 50 smart
ucts that provide consumers with extra product contracts for a variety of ICOs.
information, allow them to participate in promo-
tions, or be rewarded in ERC-20 GSE tokens for mak-
ing a purchase.
ICO DATA
The Gese ecosystem will also include a crowdfund-
ing platform allowing alcohol entrepreneurs to raise
PRICE 0.0405 USD
LinkedIn Gese Official
www.gese.io

Twitter @gese_io

capital, and interest, in their project. They also hope

to foster an online community where consumers BUY AT Official Website
can share their experiences of particular alcoholic ICO DATES Apr 15- May 1, 19
beverages.
NO. OF TOKENS 50,000,000

All enterprise customers’ purchases, such as NFC PRICE PER TOKEN 0.0405 USD
tags, licences and connection fees are paid for in CEO Andrew Yakovlev
GSE, adding value to the token. A private sale is
CO-FOUNDER Pavel Bobosik
currently underway, with a public sale set to launch
CTO Alexey Pechkin
on 15th April 2019.

(Right)
Selection of
whisky at Glenesk
Hotel, Edzell,
United Kingdom.
The antique
bottles can be
sold securely
with Geese.
12
MASTERNODE

Digital COIN DATA

Price TRADING PRICE 0.0135 USD

www.digitalprice.org

Twitter @DigitalPriceOrg
(DP) MARKET CAP 248,000 USD

CIRCULATING SUPPLY 19 780 674 DP

LIGHTNING FAST, SECURE AND TOTAL SUPPLY 27 280 675 DP
PRIVATE DAILY TRADING
$900 USD
VOLUME
Digital Price is a third generation cryptocurrency
Cryptopi/
focused on transactions which pays the users for BUY AT
CoinExchange
staking the coins and keep a masternode running.
SENIOR ADVISOR Anton

ANONYMOUS
ADVISOR &
REASON TO WATCH MARKETING
Marc

SEMI-
PROJECT
With a 66% Masternode reward, there’s a lot to love Claudio
MANAGER
about DP right now.

Menlo One
13 NEW TO MARKET

(ONE)
THE FOUNDATION FOR THE NEXT
GENERATION OF DECENTRALIZED
COIN DATA
APPLICATIONS
TRADING PRICE 0.003794 USD
www.menlo.one

LinkedIn Menlo One

Twitter @menloone

Menlo One claims to be an ‘open-source frame-

MARKET CAP $1M USD
work for making decentralized applications as fast
CIRCULATING SUPPLY 350 000 000 ONE and easy to use as their centralized predecessors’.
TOTAL SUPPLY 1 000 000 000 ONE Menlo One is a second layer that can be built on
DAILY TRADING top of different blockchains to ‘overcome the limi-
$15,000 USD tations of user experience, speed, and security’.
VOLUME

BUY AT IDEX/ BitMart

CEO Matthew Nolan REASON TO WATCH

CTO David Dawson
With an experienced team, and a great concept,
COO Tiaan Wolmarans
this project may well go places.
14 COIN

StormX
CRYPTO EARNING
OPPORTUNITIES FOR ALL

StormX allows anyone in the world to earn cryp-

tocurrency for completing gamified microtasks.

Its previous incarnation, BitMaker had already

built a significant user-base, with ‘players’ earn-
ing over 249 Bitcoins, and 570 Ethereum since
2014. BitMaker’s rebrand to Storm Play in 2017
saw the introduction of blockchain technolo-
gy, crucially decentralising an industry that had
been blighted by high ‘middle-man’ fees of up
to 40%, charged by the likes of Amazon Mechan-
ical Turk.

Whether it’s completing surveys, peer-to-peer

contractor-style engagements or playing promo-
tional games, StormX offers anyone around the
globe, including the underpaid, unemployed,
and unbanked access earning opportunities via
their smart devices. ‘Players’ undertaking the
tasks are rewarded in ‘Bolts’ which can then be
exchanged for ERC-20 STORM tokens, Bitcoin or
Ethereum.
‘Makers’- those providing earning opportunities
on StormX- benefit by having access to a global,
mobile, workforce of over 1.6 million ‘players’.
The ‘Maker-Player’ relationship is harmonised
by greatly reduced fees of only 1%, and smart
contracts that govern their interactions – a fair-
er and smarter system, accessible to all.
FASTER, SCALABLE AND SECURE
StormX VP of Marketing, Mark Keeney told 21Cryp-
tos Magazine that their latest release could be a
game-changer: “We are very excited about the
launch of our new and improved Android app –
which is built on the React Native platform. This
platform will allow us to scale faster, especially
as we expand and deliver on the mission for our
users (players) to earn anywhere, anytime on any
device”.
“The updated app has a number of other enhance-
ments especially with respect to performance.
Load times are now less than a second, while an
improved UX, based on qualitative and quantita-
tive inputs, makes it easier to find new tasks and
start earning. The process of adding new global

#THE21 67
 (Left)
StormX
allows users
to earn crypto
income by
participating
in their
gamified
tasks, even at
home.

COIN DATA

TRADING PRICE 0.004663 USD

MARKET CAP $19M USD

CIRCULATING SUPPLY 4 518 781 114 STORM

TOTAL SUPPLY 10 000 000 000 STORM

DAILY TRADING
$1.2M USD
VOLUME

BUY AT Upbit/ Binance/ Bittrex

CEO Simon Yu

CTO Calvin Hsieh

COO Arry Yu

www.stormx.io

Twitter @Storm_Token

LinkedIn StormX, Inc.

offers will be even easier, while everyone will ben- TEAM

efit from the addition of two-factor authentication
on log-in. Overall, improved infrastructure will make
it easier to deploy new features as we scale”.
Keeney also hinted that plenty more improvements
are on the way: “Next, we will be adding a number
of enhancements that didn’t quite make the cut
for this release. Most notably, our referral program
will allow users to easily increase their earnings by
engaging with their circle of friends and family.”
STORM token is available from a host of top crypto-
currency exchanges, including Binance and Bittrex
and was recently added to Coinone and CGEX.
Storm Play is available across 187 countries in the
Google Play Store.
Simon Yu, CEO and Co-Founder
At the age of 19, Simon turned a $100 gift into
a $500,000 business. He has been featured
in Forbes, Reader’s Digest, Nasdaq, Business
Insider among other leading publications.
Sean Zhong, CTO
Has more than 20 years of experience in soft-
ware engineering, including stints at Amazon
and Big Fish Games.
Mark Keeney, VP of Marketing
Former Head of Partnerships & Affiliates at
eBay with over 20 years’ experience delivering
marketing strategies.

21 CRYPTOS
 15
(Next page)
With Honeybox's
easy-to-use
ICO secure crypto
payment
platform, they are
making crypto a

Honeybox household name.

ICO DATA

MAKING THE INTERNET SAFE PRICE 0.05 USD

AGAIN BUY AT Official Website

ICO DATES Feb 26- Mar 25, 19

Whether it’s malware, ‘man-in-the-middle’ NO. OF TOKENS 200,000,000
attacks or smart home hubs listening to your
PRICE PER TOKEN 0.05 USD
every word, the internet just isn’t a safe place
to hang out anymore. CEO Bryant Maroney
BUSINESS
Dan Ramirez
The majority of us shop, pay for services and STRATEGIST
expose our personal data online on a regu- LEGAL COUNSEL Lano Williams
lar basis, opening ourselves up to potentially
www.honeybox.io
devastating cyber-attacks at every turn.
Twitter @gethoneybox
For cryptocurrency users– with the added LinkedIn Honeybox, LLC
responsibility of ‘being your own bank’ the
consequences of cyber-crime are almost
unthinkable.

But what if protecting yourself, and everyone
in your home from online attacks was just as
easy as plugging a device into your router?
Thanks to Honeybox, it may well be.
Honeybox is a small, plug-and-play device
that, when connected to your router, blocks
all unwanted data packets from entering your
internet connection.
That means every device on your network is
protected from unwanted third party commu-
nications, trackers, viruses, spyware, adware
and malware and has full control over ad
blocking.
ther comprehensive enough, nor accessible enough to
protect all of today’s internet users:
“Ad blockers and Brave browser, for example, are great.
However, you have to install them into your browser on
every single computer or phone you own. Also, they
are really just browser ad blockers intended to improve
user experience rather than providing security/privacy
for your entire computer, let alone all of your smart or
IOT devices. In terms of other cyber security protection,
when it comes to hardware, enterprise level systems such
as the Cisco Meraki Intrusion Detection System are avail-
able for roughly $1,000. However, they require the user
to have technical and security expertise, and take sev-
eral hours to install and manage”.

What happens when all of that unwanted
data stops clogging up your bandwidth? Well,
Honeybox say it could mean up to 40% fast-
er internet speeds – as if staying safe online
wasn’t incentive enough.
“Honeybox on the other hand is made to be simple, easy,
and inexpensive. It just works”. Maroney said.
BRINGING CRYPTO TO THE MASSES

Ok, but can’t we protect ourselves easily
enough with existing products?
Talking exclusively to 21Cryptos Magazine,
Honeybox creator Bryant Maroney explained
that current online safety products are nei-
Honeybox plans to offer more to the cryptocurrency com-
munity than just protection though. Rather than waiting
for the masses to adopt crypto, they are planning to
bring crypto to the masses:
“Currently, the average household and consumers have

#THE21 69
little or no understanding of cryptocurrency and
its abilities. There have been 10's of thousands of
projects and yet none have been able to enter
the home en masse. Honeybox on the other
hand will begin shipping devices out in February
and introducing the basic use of cryptocurren-
cy as a safe, secure, and standard online pay-
ment mechanism for all consumer online shop-
ping, “explained Maroney.
Honey box’s HONEY token will facilitate consum-
er adoption in two ways. Firstly, through 3rd-par-
ty partners, consumers will be able to pay for
anything online using HONEY safely, without the
need to enter in their personal information or
credit card details. This protects against identi-
ty theft and credit card theft.
Maroney also explained that Honeybox did not
take the decision to create their own token light-
ly. In fact, it was a decision made purely to make
cryptocurrency easier to adopt for average con-
sumers; “We have taken a long hard look what
protocol and token mechanism would be best
for introducing cryptocurrency to the consum-
er. Ultimately we decided that having a single
token used within Honeybox (and all other inter-
net-connect devices) will limit confusion for the
consumer and allow for an easier understand-
ing and use”.
Honeybox is currently undergoing a private sale,
with devices set to be shipped the day after the
end of the token sale.

Secondly, Honeybox users will be rewarded in

HONEY tokens simply for continuing to use the
internet, as they do now, through shopping
rewards, choosing to view adverts or through
Honeybox partner programs.

SELECTED TEAM MEMBERS

Bryant Maroney, CEO

Bryant has over 18 years of enterprise archi-
tecture experience and multiple patents in his
name.

Dan Ramirez, Advisor

Ex-Microsoft and Yahoo with 15+ years of expe-
rience building data and analytic products.

Michael Horowitz
Co-Founder and CEO of investment and glob-
al strategies company Stratx, holding with pre-
vious senior positions at numerous investment
banks throughout Canada.
16Stellar 17
OLD BUT GOLD UNIQUE

(XLM) PAWS Fund

(PAWS)
COIN DATA
AN ANIMAL CHARITY LEDGER
TRADING PRICE 0.166 USD POWERED BY BLOCKCHAIN

www.stellar.org

Twitter @StellarOrg

LinkedIn Stellar Development

Foundation
MARKET CAP $3B USD
PAWS Fund is a non-profit blockchain project
CIRCULATING
19 264 392 965 XLM seeking to benefit animals and their families.
SUPPLY
By registering your pet in the blockchain, you
TOTAL SUPPLY 104 463 177 385 XLM
can have access to different types of data
DAILY TRADING concerning your furry friend. In the future PAWS
$96M USD
VOLUME powered registry collars will be available, so
BUY AT Binance/ Ubpit / LATOKEN all thefts will be communicated throughout
DEVELOPER Bartek Nowotarski the blockchain.

CHIEF SCIENTIST David Mazières

STELLAR
Jed McCaleb
REASON TO WATCH
DEVELOPER
Uniqueness coupled with altruism is a promis-
ing combination.

MOVE MONEY ACROSS BORDERS

QUICKLY, RELIABLY, AND FOR COIN DATA
FRACTIONS OF A PENNY
TRADING PRICE 0.760 USD

www.paws.fund

LinkedIn Paws Fund

Stellar connects banks, payment systems and people.
MARKET CAP N/A
With it you can make payments in a matter of seconds
CIRCULATING SUPPLY 491 614 954 PAWS
using cryptocurrency.
TOTAL SUPPLY 557 614 954 PAWS

DAILY TRADING
REASON TO WATCH VOLUME
$600 USD

It’s been around for almost 5 years now, but looking CryptoBridge/
BUY AT
CoinExchange
at the chart it’s one of the coins that has kept relative
stability throughout all storms (and there have been CEO Ian (John) Cubitt
many this year).

(Left)
PAWS Fund
runs free
vaccine
clinics every
month for
your best
companion.
Quizando
Quizando is an online platform that
brings together the world’s 500-600 mil-
lion quiz players and online influencers
for mutual gain.
18
ICO

provide the world’s social media influencers with an oppor-

tunity to monetize their followings.

Quizando Live will allow social media influencers to host

Launched in 2017, the Quizando plat-
form has been quietly building a com-
munity of thousands of users, all of whom
can win cash prizes for taking part in
a range of trivia-based games. Unlike
the majority of crypto platforms, Qui-
zando has already managed to mone-
tise its offering with Beta testing reveal-
ing that a typical player spends up to
$100 a year on the platform.
Now, with the launch of the QUIZ ERC-
20 cryptocurrency token, Quizando is
looking to scale its platform for a global
user-base and, through Quizando Live,
ICO DATA
live ‘last man standing’ quizzes to their global social media
following, for a 35% cut of the revenue generated by the
quiz. The quiz winners also receive 35% of the pot, keeping
them engaged and motivated to participate, while Qui-
zando receives 30%.
The revenue model on offer is far more generous than those
available on other mainstream content publishing platforms.
Quizando estimates that an influencer with 100,000 follow-
ers could expect to make more money if just 1% of their
following participates in one of their hosted quizzes, than
through a video that received 100,000 views on YouTube.
The QUIZ token will be used to manage the global, trans-
parent payment system within the Quizando platform. QUIZ
holders will also benefit from reward points that will grant
them access to exclusive content such as celebrity quizzes
and quizzes with physical prizes.

PRICE 0.01 USD

BUY AT Official Website TEAM

ICO DATES Feb 1- Mar 1, 19

NO. OF TOKENS 348,000,000 Boyce Avenue

PRICE PER TOKEN 0.01 USD The most viewed independent band in the world with over
4 billion YouTube views, has already joined Quizando as
CEO James Calvert
shareholders and have a seat on the Board of Directors.
CCO Wesley Ellul

CMO Chris Mifsud Stella Cini, Influential Advisor

www.quizando.io One of Malta’s best known YouTube influencers, with over
Twitter @Quizando 157,000 subscribers and 13.5 million video views.
LinkedIn Quizando
James Calvert, Chief Executive Officer
Founder of Findit.com.mt, the first online business direc-
tory in Malta, and Untangled Media, a digital services
company.

21 CRYPTOS
Zenome
ICO
UNLOCKING THE POTENTIAL
OF GENOMIC DATA
The genome is a genetic ‘recipe book’ found
in the cells of a living organism. The way a
genome is sequenced is said to determine a
number of the features and characteristics of
the organism, such as its appearance, vul-
nerability to particular diseases, athletic abil-
ity, metabolism, taste in food and reproduc-
tive compatibility with sexual partners.
While genomic data is already used to make
advances the medicine, biotechnology, agri-
culture, and food industries, there are still
quantum leaps to be made. There are howev-
er, many technical obstacles and philosophi-
cal considerations that stand in the way.
For starters access to genomic data is extreme-
ly fragmented. According to Zenome’s white-
paper, just one complete human genome can
represent up to 2TB of data and the amount
of genomic data being collected is growing
exponentially. This means no one entity can
contain and process enough data to realise
the true potential of genomic analysis.
Zenome also say “the principal customers of
genetic information are companies interest-
ed in genetic targeting such as Google, Face-
book, Unilever“ – a far cry from the utopian
idea of humans using their own genomic data
to identify optimal diets or having personal-
ised drug therapy.
19
For the individual, genome testing is offered relative-
ly cheaply by companies such as 23andMe. However,
relinquishing your genomic data to a third party who can
then sell it on to the highest bidder (unless of course, you
opt out) opens up an array of harrowing possibilities.
Imagine going for a job interview at a company that
already knew you were genetically more likely to take
sick leave than other candidates, for example, or being
refused medical insurance because the provider knew
you were genetically likely to have a short lifespan.
Zenome is working on an Ethereum blockchain-based
ecosystem that protects the interactions between
genomic data, personal data and financial data so that
scientific progress can be made without compromising
human rights.
NEW GENOMIC ECONOMY
Zenome solves the data storage capacity conundrum by
distributing genomic data anonymously in independent
nodes coordinated by a distributed hash table (DHT).
Meanwhile individuals hold their personal data exclu-
sively, on their own computer, for maximum privacy.
Users will have complete control over when, what and
who they share their data with.
All financial transactions within the ecosystem are under-
taken and stored on the blockchain using the ZNA utility
token.
#THE21 73
 (Left)
Researchers
in Ibarra,
Ecuador

USE CASES FOR THE ‘GOOGLE OF TEAM

GENOMICS’
Alexey Gorbachev Ph.D, Founder
The benefits of a decentralised, private shop win- A Doctor of Philosophy (Ph.D), Biochemis-
dow for genomic data are numerous. For individuals, try and Molecular Biology, Alexy was a Sci-
Zenome offers the ability to obtain and store their entific Advisor at GenEra working on Agilent
genetic information safely and privately, whilst also Genomics products before becoming Head of
presenting the opportunity to turn it into a source Research and Development at Quantum
of income. A user could, for example, sell private
access to food companies wishing to develop prod- Nikolay Kulemin Ph.D, Founder
ucts that appeal to a particular genetic ‘type’.
With a Ph.D in Bioinformatics, Nikolay worked
Zenome will also offer individuals access to secure as a Bioinformatics Specialist at the Research
third party services, including reports and recom- Institute for Physical Chemical Medicine
mendations on nutrition, risks of diseases or even
genetically compatible dating. Users will also be Vladimir Naumov, Genomic data scientist
able to earn ZNA by providing questionnaire data A former Data Scientist at GERO, Vladimir
to companies for research. also worked in bioinformatics at the Research
Center for Obstetrics, Gynaecology and
Health-wise, giving individuals the ability to pri- Perinatology
vately share their genetic information with health-
care professionals could revolutionise medicine.
From the development of personalised medicine
based on tolerances, biochemical parameters and ICO DATA
genetic predisposition to diseases to the creation
of a secure database for organ donors based on
PRICE 0.66 USD
genetic compatibility, the possibilities are endless.
BUY AT Official Website
The likes of Google, Facebook and Unilever would ICO DATES Mar 1- Apr 1, 19
still be able to buy genomic data using the Zenome NO. OF TOKENS 6 000 000
platform, but only when granted specific permis-
PRICE PER TOKEN 0.66 USD
sion by individuals, who will also be paid for their
data. BUSINESS Alexey Gorbachev, Ph.D

BIOINFORMATICS Nikolay Kulemin, Ph.D

Because Zenome can also be used for the storage
GENOMIC DATA
and processing of any kind of genomic data, the Vladimir Naumov
SCIENTIST
scientific community will be able to enhance their
www.zenome.io
research on plants, animals and mircoorganisms,
as well as humans. Twitter @ZenomePlatform

LinkedIn Zenome
The next stage of the ZNA Token Sale begins on 1st
March 2019.

21 CRYPTOS
 TRENDING

20 Howdoo
(UDOO)

A BLOCKCHAIN-POWERED
SOCIAL MEDIA PLATFORM
Get rewarded for your creative content! Howdoo
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REASON TO WATCH
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gest ICO websites.

COIN DATA

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www.howdoo.io

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FOUNDER David Brierley

ADVISOR Brett King

(Right)
INFLR (next
page) is a
one-stop
management
solution for
social media
influencers
and
advertisers
 21
ICO

Inflr
Inflr will use blockchain technology and its own
“Proof of Influence” algorithm to disrupt the online ERC-20 Inflr tokens are used to give advertisers
influencer market. a “seat” – the right to use the platform – and
buy influencers to access an array of bene-
Advertisers are increasingly turning to Influencer fits and features within the platform. They will
marketing to access and cultivate new customer also be used for transactions within the inflr
bases. However, identifying and locating the right ecosystem and to pay for products and ser-
influencers is often problematic. Payment can also vices from Inflr partners.
be a thorny issue with influencers and advertisers
often having differing views on the levels of remu-
neration being applied to campaigns.
TEAM
With Inflr’s blockchain-based solution, smart con-
tracts eliminate the payment ‘grey areas’ by clear- Bruno Rodrigueiro Niro, Co-founder
ly setting out content expectations in advance of
Publicist with more than 10 years of market-
a campaign, automatically verifying the results,
ing strategy experience.
and authorising the correct level of payment.

The real star of the show is Inflr’s “Proof of Influence”
algorithm. Using machine learning, the algorithm
analyses data from an influencer’s social network
to produce an individual Inflr ScoreTM reflecting
their level of their influence.
As well as providing the data from which the smart
contracts determine campaign success levels, the
algorithm also helps advertisers find their perfect
influencer match within Inflr’s marketplace.
Felipe Bolonhani, Senior Developer
Former full-stack developer at Bolonhani.
com and Development Lead at Genesis
Aplicativos.
Giacomo Arcaro, Advisor
ICO Growth Hacker: Advisor on multiple suc-
cessful ICOs, ICObench Expert, Top 5 OTC
Advisor UAE.

Capable of assessing the success and emotional

context of social media posts, as well as identify-
ing the gender, age group and ethnicity of follow- ICO DATA
ers, the algorithm uses artificial intelligence to cat-
egorise influencers for advertiser selection.
PRICE 0.03 USD
Inflr also makes life easier for the influencers by auto- BUY AT Official Website
mating the campaign management process. Influ- ICO DATES Dec 10, 18- Feb 11
encers can download all campaign materials and
NO. OF TOKENS 140 000 000
submit posts for approval through the platform, or
contact advertisers directly should the need arise. PRICE PER TOKEN 0.03 USD

CO-FOUNDER Tiago Mateus

CO-FOUNDER Bruno Niro

CO-FOUNDER Thiago Cavalcante

www.token.inflr.com

Twitter @inflr

LinkedIn Inflr

21 CRYPTOS
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 S A SIMPLE BUT EFFECTIVE SCAM
How You're Getting
Screwed
UNREGULATED
ICOS
>
The United States Securities and Exchange
Commission settled with two ICOs on the
16th November for non-compliant ICO pro-
cesses violating the Securities Act of 1934.
Both Paragon and Airfox have had to pay
a $250,000 fine and must also reimburse
investors who purchased tokens in the ICO.
This ruling brings sorely needed clarity to
the ICO market.
The Co-Director of the Enforcement Divi-
sion, Stephanie Avakian, stated that “we
have made it clear that companies that issue
securities through ICOs are required to
comply with existing statutes and rules gov-
erning the registration of securities” while
her fellow Co-Director Steven Peikin went
on to note that “by providing investors who
purchased securities in these ICOs with the
opportunity to be reimbursed and having
the issuers register their tokens with the
SEC, these orders provide a model for com-
panies that have issued tokens in ICOs and
seek to comply with the federal securities
laws.
This leaves the door open for ICOs to run
compliant token sales in future, a necessary
development which will legitimize projects
and prevent some of the more egregious
offenses of the past 12 months.
However, it also means that investors
21 CRYPTOS
PHISHING
Phishing is a scam technique in which
you receive an email asking you to deliver
sensitive information about your bank account
details, cryptocurrency wallet’s private keys,
or exchange login details - under the guise
of winning a prize or supposedly avoiding
security breaches. Although it’s a well known
trick, it’s still extremely effective. The best
way to avoid such scams is to never share
passwords, PIN codes, security codes or any
other type of security details with anyone,
not even someone working for a company
in which you keep your money. Even though
users rarely take the bait with this, the scam
is particularly effective because scammers
often target many thousands of accounts at
the same time.
should be cautious when partaking in current ICOs or holding
tokens in projects which have carried out a non-compliant ICO
in the past. There are two potential issues here for investors.
The first is that current ICOs should now be aware of the shift
in regulatory attitude. As such, any team conducting an ICO
not complying with securities law should expect less leni-
ence in the future. This is particularly important if the team
is either a) based in the US and b) is not anonymous, as it pro-
vides an attack vector for law enforcement. It would be rather
difficult to lead a project from the confines of a cell.
Secondly, projects must now prepare to refund investors.
Those projects which do not draw the ire of the SEC may still
find themselves the subject of civil suits from disgruntled
investors, particularly ICOs in 2018 which have spectacularly
underperformed. This risk is amplified by the performance of
cryptoassets across the board in 2018. A firm that raised BTC
or ETH in 2018 and which did not cash out to fiat would now
find itself with a mere fraction of the funds it accumulated.
This means that it would not be able to refund investors, bring-
ing about the specter of bankruptcy.
The SEC’s actions should in the long-run lead to a healthier
and safer environment for investors, although it may also limit
the ability of non-accredited investors to participate. However,
it will undoubtedly bring about short-term uncertainty from
ICO teams who did not seek or received incorrect legal guid-
ance. This could bring about project bankruptcies or closures
which could see further losses for investors.
 G TREZOR ONE
Gadgets and DApps
HARDWARE
WALLETS
> Cryptoasset support The One sup-
Hardware wallets are favored by many to store their cryptoassets.
They provide an additional layer of security which means they
can be safely used on compromised computers as they the user’s
private key remains on the hardware wallet. This means that
even if a user’s computer has been infected by keyloggers or a dif-
ferent form of attack which would otherwise steal information,
their data - and thus their cryptoassets - remain safe.
This added security, combined with the rise in users buying cryp-
toassets, has seen the sales of hardware wallets soar. Two of the
most popular hardware wallets come from longstanding provid-
ers Trezor and Ledger, founded in 2012 and 2014 respectively.
Although both have multiple wallets, their two most popular
options are the Trezor One and Ledger Nano S.
CASA
Built by a group of blockchain engineering
experts, Casa is a hardware lightning node
that allows you to be part of the future of
decentralization and hold your money in
the most convenient and safest way. With
Casa you can make and receive payments,
get connected and help strengthen the net-
work with your own node. Bitcoin’s block-
chain is already pre-downloaded. All you
have to do is to sync it and you’re good to go.
I N T H E KNOW
Cost €83
Hardware Coming in a tamperproof
box, the plastic device is a compact offer-
ing coming in either black or white.
Software The Trezor One is compati-
ble across all desktop OSs and Android.
Once the user has completed the set-up
process, the desktop software is easy
to use and allows users to manage mul-
tiple cryptoassets. This desktop man-
ager has been historically better than its
Ledger counterpart, although Ledger have
recently released a new iteration which
has significantly closed the gap.
ports most popular cryptoassets, includ-
ing BTC, ETH, all ERC-20 tokens, LTC,
DASH, ZEC and more. However, although
it was the first to offer BTC support, it
has been slower to react to adding new
cryptoassets. Two big omissions are XRP
(although it is supported by the more
expensive Trezor Model T) and NEO.
Ecosystem Although the Trezor is sup-
ported by larger sites such as MyEther-
Wallet and Electrum, the Trezor lags
its Ledger counterpart when it comes
to being supported on services. This
includes the likes of IDEX and other
DEXs, which do not support the Trezor
wallets.
EOS KNIGHTS
DAPP SPOTLIGHT
Built on the EOS blockchain, EOS
Knights is a RPG that you can play on
iOS and Android operating systems. It's
one of the earliest live implementations
of the EOS blockchain in a game.
Some of the features include collecting
55 different materials, crafting items
following a recipe, adopting up to 24
different pets, and trading in markets
powered by EOS blockchain technology.
81
LEDGER NANO S

Cost: €100

Hardware A long and thin stainless steel

encased USB stick type contraption, the
Ledger Nano S is again small but robust.

Software Now known as Ledger Live,

Ledger now mirrors Trezor’s support for
managing multiple coins within one app
(previous iterations had separate apps for
each cryptoasset). However, not all assets
are supported by Live – the likes of Neo and
Stellar will require users to use their Ledger
in conjunction with third party apps.

Furthermore, only a limited amount of

cryptoassets can be ‘installed’ on the phys-
ical device at any given time, although
removing and adding each one is a simple
process.

Cryptoasset support Ledger tend to be

quicker than the competition to add new
assets, featuring a comprehensive amount.

Ecosystem The Nano S shines in the sup-

port it receives across the ecosystem, as
their own developers combined with an
active community means that it is usually
the first device to be integrated with new
services. This includes not just DEXs such
as IDEX and Switcheo (a NEO exchange),
but also DApps.

(Above)

One of the most popular

hardware wallets
Trezor One

21 CRYPTOS
 P
Meet the Projects

DECENTRALIZE
FINANCE
>
One of the growing Ethereum narratives concerns DecentralizedFinance, or DeFi.
This sees functions being fulfilled by financial institutions instead replicated via
decentralized networks and DApps, many of which interact or lean on one another.
Some of these include:

DHARMA PROTOCOL BLOQBOARD QUICKLINE

Although users cannot use
Dharma, DApps are start-
ing to be built on top of
the protocol. Dharma aims
to allow developers to
build products which ena-
bles the issuance, admin-
istration and trading of
virtually any type of debt.
Dharma is itself built on
top of the 0x Protocol,
highlighting the increas-
ing interoperability of the
many teams in the space
and the benefits that open
protocols can bring.
Bloqboard builds on both Dharma and Quickline is another
Compound (more info on next page), act- project built on top
ing as a lending platform for ETH based of Dharma, enabling
loans. It lets users borrow or lend to users to borrow and
either an individual directly or a liquid- loan cryptoassets.
ity pool – with no fees charged. As with So far the platform
Compound, taking out a loan is as sim- has made 255 loans,
ple as logging in with MetaMask, Ledger and is able to facil-
or Trezor wallet and then posting the itate any ERC20
required collateral. The requested funds or ERC721 token –
are then made available to the user. which makes lend-
ing out the likes
Loans taken out via peer to peer are made of CryptoKitties a
through the Dharma protocol, while possibility.
those through the liquidity pool are facil-
itated via Compound. Those via the latter
can be repaid at any time, with loans able
to be taken out indefinitely.

I N T H E KNOW 83
 JUST THE BEGINNING?

In addition to projects such as this,

other supporting pieces of infra-
structure have started to appear.
This includes the likes of Loan-
scan, an equivalent to blockchain
explorers like Etherscan but focus-
ing on allowing users to browse
loans made through the likes of
COMPOUND Dharma and MakerDAO. At the
time of writing, Loanscan reported
Compound enables users that 1,768 loans had been made in
to borrow and lend out the past 30 days with a principal
tokens, including the likes amount of $23.6m. This represents
of BAT, REP and ZRX. a significant amount for an ecosys-
Those seeking to bor- tem still in its infancy. Indeed, over
row must post 1.5x col- 1% of the total supply of ETH is
lateral (e.g. borrowing now locked up in MakerDAO loans.
$100 requires locking up
$150). Instead of hav- This highlights both the ease with
ing to go through a third which lending has become pos-
party, users instead only sible, but also the improvement
ever directly interact with decentralized systems can offer
one another. Interest rates over traditional ones. Although
vary depending on the they are yet to be battle tested by
appetite to borrow/lend adverse or freak market conditions,
each asset. there is no doubt that lending is an
area ripe for disruption; many lack
(Above) the ability to get a loan from banks
even if they so desired, the experi-
Bank of England, ence can be an ordeal and interest
London, United rates charged are frequently high
Kingdom and opaque.

21 CRYPTOS
 S
The first sees the malicious actor convince your phone car-
rier to port your mobile number to a new sim card. At this
point, any SMS sent to you will actually be sent to the
attacker, allowing them to circumvent security. Should net-
Security 101 work carriers do this? No. Have they? Yes, routinely.

The second makes use of the backup feature some authenti-

PHONE
cation apps provide. If the hacker manages to compromise
your Android or iOS ID (in the case of Android in particular,
often the same as your email details) then they can restore
your device data to a new device using the normal backup

IN
method. At this point they can restore the backups from
your authentication app, again allowing them to circumvent
2FA.

YOUR A TICKING TIME BOMB

POCKET
The security risk your phone
presents goes beyond just these
two issues. There are a litany of
potential attack vectors arising
from using a phone for managing
crypto. These include:

>> Your phone being lost or sto-

len (especially if you use
> a weak passcode/leave it
unlocked)
Phones are a ubiquitous part of our lives and
as such it is natural that they are used to store >> Installing spyware or
and interact with cryptoassets. Unfortunately, being otherwise exposed to
they also represent an often-easy attack vector viruses which can steal your
for thieves. information

>> Being spied upon over the

DON’T RELY ON YOUR NETWORK
network/the many Wi-Fi net-
CARRIER
works you will connect on to
One-way users attempt to safeguard crypto
Although computers also suffer
accounts is by using 2 Factor Authentication,
from these risks, they are ampli-
an additional layer of security to the usual
fied on phones. Why? Because
username/password. This is regularly done
your computer will likely be
through either SMS or a 2FA app. Users either
switched off for the bulk of the
receive a SMS or use an app on their phone to
time and will usually connect to a
enter a code which then provides access to the
limited amount of networks; for
crypto app in question. Theoretically, if the
many this will just be the home
phone remains in your possession you would
WiFi network. Phones, mean-
be the only one able to utilize this code.
while, are usually connected to
This is unfortunately not the case, as numer- the network 24 hours a day. They
ous users have sadly discovered. There are two also frequently will be left to con-
means through which 2FA methods have been nect to numerous public WiFi
hacked. networks, some of which will not
be as secure as is necessary.

I N T H E KNOW 85
For these reasons it is advisable to:

>> Have a separate sim-free phone used solely for crypto

>> Create a new ID with details you have never used

before (including a new email address)
HOW WEB ANALYTICS
>> Use an authentication app which doesn’t allow for TOOLS CAN BE
backup restores (don’t use SMS 2FA) A SECURITY RISK FOR
EXCHANGES
>> Only connect to networks you trust
Last month Gate.io suffered a security
Although less convenient, these simple steps will breach as cited by cybersecurity firm
reduce the chances of your phone being used against you ESET. Hackers successfully breached
dramatically. StatCount, a major web analytics tool,
and targeted crypto exchanges that
use this service. The hackers injected
a malicious line of code into the tool
which would then change the withdrawal
address of users to the withdrawal
address belonging to the hackers.
Fortunately the attack was stopped in
time to avoid any bitcoins being diverted
to the hackers’ Bitcoin address.

$240M
The amount Michael Terpin is suing the
US carrier AT&T for after they ported his
number to a new SIM card
 U
Crypto Understanding
DIGITAL
SCARCITY
> central party to regulate the supply
Often misunderstood, one of the most important aspects of Bit-
coin is how it engenders digital scarcity. This stands it in stark
contrast to the history of the Internet - and computing more gen-
erally - which facilitated digital abundance.
This digital abundance saw the entertainment industry particu-
larly badly hit, with the likes of music and movies suffering from
the ease in which people could copy and share work.
Even though some publishers attempted to limit people’s access
to content, through paywalls and digital rights, they could never
make their content scarce; if the entire world paid, then they
would have replicated their files billions of times. Separately,
simple to use and resilient distributed networks such as BitTor-
rent made it simple to share files. This saw a corresponding drop
in the value of digital files to near zero, a shift which took con-
tent industries years - if not decades - to adapt to.
SATOSHI SAYS
The central bank must be trusted not to debase
the currency, but the history of fiat currencies
is full of breaches of that trust. Banks must
be trusted to hold our money and transfer it
electronically, but they lend it out in waves of
credit bubbles with barely a fraction in reserve.
– scarce. However, in a world now used to
Satoshi Nakamoto,
P2P Foundation, 2 Nov 2009
Bitcoin, in contrast, launched with a
fixed supply of 21m BTC. It thus intro-
duced digital scarcity in two ways:
>> This fixed supply was combined
with an algorithm limiting the rate
at which BTC could be mined, mean-
ing we know not just how many Bit-
coin will be generated but also when
they will enter supply. This regu-
lates the inflation rate. The actual
number is not important; it could
have been any amount. Fixing the
amount was the important element
>> It was created in such a way as to
prevent users from copying ‘files’
through the introduction of Proof of
Work. This made the supply decen-
tralized, removing the need for a
Some Bitcoin proponents point to this
fixed supply and deterministic release
policy as a crowning achievement of Bit-
coin, a means to avoid the hyperinfla-
tion witnessed by countries such as Ven-
ezuela which has seen prices rise 000s of
% in 2018. Such parties see central banks
as wielding too much power over mon-
etary policy, believing that their ability
to increase/decrease interest rates and
expand or shrink the money base affords
undue power over ordinary people.
Digital scarcity has been extended as a
concept to include newer crypto concepts
such as Non-Fungible Tokens (NFTs)
which rely on scarcity in a similar man-
ner. Just as there are fixed amount of
BTC so too, for example, can DApps
limit the amount of a particular card,
character or item in games. This can be
seen in the example of games like Gods
Unchained, in which certain cards have
value because they have specific char-
acteristics which no other (or limited
amounts of ) other cards can ever have.
Bringing the issue full circle, some have
even begun to restore the power to art-
ists and publishers to make their work
subscription based content, one would
suspect this is an area where scarcity
will not be reintroduced.
REVOLUTION
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 FEATURE

EXCHANGES
IN THE
CROSSHAIRS
BY JAMES MCGIRK

The United States

government has
played awfully
nice with us
cryptocurrency folk.
Remember those
gleeful memes made
of J. Christopher
Giancarlo as he
described how his
thirty-year-old niece
sweetly HODLs her
Bitcoins? Okay,
sure, when the US
Treasury banned U.S.
citizens from buying
Venezuelan-issued
earlier this year
they did annihilate
it, but that was an
interfactional fiat
conflict, wasn’t
it? But now, as
an extensive SEC
investigation into
the crypto-currency
community comes to
light, dear old “Uncle
Crypto” is looking a
smidge creepy.
Could the U.S. government
really take down
cryptocurrency? Americans
make up the lion’s share of
the market. Despite growth
overseas, the U.S. remains
the largest financial market
in the world. Prohibiting
Americans from purchasing
cryptocurrency—or enforcing
accredited investor laws that
would only allow the most
wealthy investors access to
crypto—could suffocate the
market, snuff out promising
projects and set back crypto
back for decades. A more
concentrated effort could be
fatal.

In theory we crypto-folk are

a decentralized alternative to
global capital markets, but
we’re more vulnerable than we
think. After months of floating
around $6,500, Bitcoin is
circling the drain. (Current
price as I write this: $3,781,
down 41% for the month) The
Bitcoin Cash Clash is spooking
investors and Craig Wright
is said to be dumping his
Bitcoin to vacuum up mining
horsepower, and maybe we’re
all secretly accumulating and
the great spring is simply
coiling once more and we’re
all about to be sprung into the
price stratosphere. But in the
process, lots of small-time
investors are getting soaked,
and so are some major
institutions with unfettered
access to weapons-grade
litigation. Pressure for
an intervention could be
increasing.

What this could mean in the

long-run comes down to what
so much of crypto-currency
discussion ultimately does:
should cryptocurrency adapt
itself to the needs of financial
markets (is it a tool) or should
it replace financial markets (or
is it a revolution)?
ETHEREUM
(KIN)
IN BAD The most important story of 2017
was probably Ethereum’s rise: here

DECLINE was a cryptocurrency platform

capable of executing code. A money
computer. Its promise seemed
nearly infinite. As word about its
abilities spread (i.e. hype) its price soared from
$8 on December 31, 2016 to well over $800 on
December 31, 2017. This year has seen a long slide
in the opposite direction. The big year’s story
could well be Ethereum’s correction (the price of
Ethereum is currently below $120, down from a
high of 1,400 in January).

The reason for Ethereum’s parabolic growth

last year was platform’s first killer app. It wasn’t
quite what we were expecting. We wanted a fast
adoption and real-world usability. With apps like
Crypto Kitties spreading fast, we thought we’d
get something made of exotic code. What we got
was a way to easily create tokens based on the
Ethereum network.

Near the market’s peak, there was a guide

released on Medium (written by Mortiz Neto)
promising readers the ability to issue their very
own tokens in twenty minutes. He intended it
to be satirical (though his instructions do work),
though his March 19, 2018 follow up (“How to do
an [Initial Coin Offering] on Ethereum in Less than
Twenty Minutes”) points out that 20K people read
the entire guide and at least 113 new tokens were
created because of it.

Tokens created on the Ethereum network became

an exceptionally easy way to raise fast cash. Rather
than pitching venture capitalists or borrowing mon-
ey from a bank, you could issue tokens, and with a
little marketing magic your issue of a hundred bil-
lion McGirKoins would bloat up in value. Plenty of
projects were legitimate, some even had a business
model that required a value-containing token, but
many others were useless pump-and-dumps or out-
 right scams. Investors were well
aware of this, and all but the green-
est and silliest investors played hot pota-
to with their coins. You didn’t want to be
the last one holding DeepOnion coin but
if you were second-to-last you
could make a shedload of mon-

THE SEC
ey. Hedge funds took notice, and
so did the Securities Exchange
Commission.

In the United States, people are

prohibited from buying securities
HAS HURT ICOS,
that aren’t registered with the
Securities and Exchange Com- EXCHANGES
mission (and therefore compliant
with all kinds of auditing regula-
tions) until they become accredited inves-
tors. To do so you must prove an annual COULD BE
NEXT
income of at least $200K for three years
running or have a networth of at least a mil-
lion dollars (there are even more onerous
requirements for institutions and trusts,
such as having a “sophisticated person”
at the helm). This protects retail investors
from the machinations of “sophisticat-
ed persons” (such as Bernie Madoff) but
also prevents the poorest Americans from
accessing the most potentially lucrative
class of investments. Until Ethereum.

All of a sudden teenagers were getting rich

or getting soaked for thousands of dol-
lars; pump-and-dump schemes stoked by
Romanian bots were running amok; there
were exit scams, and spectacular swindles
and self-dealing exchanges and far too
many goonish memes. Not all of this had
to do with the ease of creating tokens on
the Ethereum blockchain but they accel-
erated the process. The SEC stepped in
just as the air was beginning to seep out
of the ICO balloon.
“The [U.S. Securities and Exchange Com-
mission] is starting to treat crypto like it
would any other investment asset, and
their number one priority is to protect
investors,” says Daria Generalova, Manag-
ing Partner at ICOBox in an article on Medi-
um. “The instability in the crypto space has
left the market stagnant for months and
investor protection is just what the mar-
ket needs to start growing sustainably.”
Despite the bleeding and the quires of
crappy tokens it supports, Ethereum
itself does not appear to fall under
the SEC’s jurisdiction. They call it a
“replacement for a sovereign currency.”
Elsewhere in the US government Bitcoin
is considered a commodity. In June 2018,
SEC Chairman Jay Clayton clarified the
difference between cryptocurrencies
and tokens.
Cryptocurrencies, he said, “are
replacements for sovereign currencies;
[you can] replace the Dollar, the Euro,
the Yen with Bitcoin. That type of
currency isn’t a security.” But a token, “a
digital asset, where I give you my money
and you go off and make a venture and
in return for my giving you money I say
you can get a return, that is a security
and we regulate the offering of that
security and the trading of that security.”
Ethereum and Bitcoin (and presumably
other coins with their own blockchain
like Monero or XRP) won’t fall under
the jurisdiction of the SEC. But tokens
do. The SEC began a multi-pronged
campaign, including a suspicious-
looking ICO site intended to train
clueless crypto-consumers on how to
spot ICO scams. Called Howeycoins.
com, it features celebrity endorsements
from the likes of a McAfee-
lookalike named “McWhortle” and “@
boxingchamp1934,” a team featuring an
Amber Baldet-inspired head of travel…
It’s a particularly strange addition to the
archives of peculiar executive agency-
branded content. More seriously, they
started investigating token companies
and exchanges.

Despite protests that the regulation of

tokens and ICOs were unconstitutionally
vague, in November the SEC forced
two American startups, with AirFox and
Paragon coin to settle, admitting they
had violated securities regulations. This
was their second successful civil case
(entirely fraudulent ICOs are different
matter). The first came in 2017 when
Munchee Inc’s ICO was blocked by the
SEC and their investors’ money returned.

The purpose of the crackdown,

according to the SEC’s enforcement
co-director Stephanie Avakian is to
make: “clear that companies [issuing]
securities through ICOs are required to
comply with existing statutes and rules
governing the registration of securities.
[The Airfox and Paragon cases] tell
those who are considering taking similar
actions that we continue to be on the
lookout for violations.”

Most sensible token companies

have probably anticipated the SEC’s
predations. Investor protections could
help safeguard consumers and soothe
the cryptocurrency market’s intense
volatility. Depending how deep your
cypherpunk bent goes, you might
even welcome the SEC’s enforcement.
The risk, however, is that they may
eventually restrict token purchases to
accredited investors. The SEC’s efforts
against decentralized exchanges, could
have far more damaging repercussions.
EXCHANGE
CRACKDOWN
COULD KILL
INNOVATION
Perhaps the most serious and
surprising action taken thus
far by the SEC has been its
settlement with the founder of
EtherDelta. You could buy any
token on EtherDelta so long as
someone was willing to sell it.
The most outlandish, exotic,
silliest coins were available
through a clunky, incredibly risky
interface. But it wasn’t a regular
exchange.
The exchange was decentralized,
meaning rather than acting
as a house in a casino does,
and keeping accounts the way
Coinbase or Binance (or Bitgrail
for that matter) do, it was simply
a protocol that charged a small
fee for connecting a buyer and
a seller across a peer to peer
network. That was enough for
it to be deemed an unlicensed
exchange according to the SEC.
They settled with Zachary Coburn
for $300,000; justifying it by
saying it had continued trading
security-like tokens despite a
2017 report created in the wake
of DAO scandal. The attack on
decentralization seems worrying.
Decentralized exchanges are an
important component of what
a future filled with dozens or
even hundreds or thousands
of different tokens might look
like. 0xProject (ZRX) was once
the darling of the altcoin world
for becoming the first ERC20
offered by Coinbase (did anyone
even notice that Basic Attention
Token was tacked on there
the other day too?) Without
a fast, robust, reliable way to transfer
tokens from one entity to another, many
of the most interesting uses of tokens,
such as Decentralized Autonomous
Organizations or the many of the methods
being considered for the monetization of
microtransactions could become far more
difficult.
Targeting a decentralized exchange
sends a clear message to crypto
companies. In other industries, such as
the telecommunications or social media
industries, ‘carriers’ usually aren’t liable
for transactions or speech between
users. This signals much more liability for
decentralized systems.
Stricter enforcement by the SEC
could mean most Americans would be
prohibited from trading unapproved
tokens. This would be a disaster. Many ICO
sales are already off-limits for Americans;
but going after exchanges (particularly
now that the major ones have stepped
up the identity verification requirements)
could have far more of an impact, because
so few crypto owners are sophisticated
enough to keep their tokens in a wallets
or find other ways to trade. Even if it
remains possible to trade tokens on
foreign exchanges using a VPN or other
method, far fewer Americans would have
access and expectations for the growth
in value would be held down. The world’s
richest retail market could be cut out of
the action entirely.
BITCASH
CLASH
AFTERMATH
Trader and market guru Adam Gutierrez
doesn’t think the SEC’s perturbation will
have much of an immediate effect on the
market.
“No not really,” he told us, “this is more
the work of a massive BTC whale named
Craig Wright (FakeToshi) using scare tac-
tics with his closest people to move the
market; however, he has a very big and
rude surprise coming. When the fast pump
starts and he has sold a massive stash of his
coin (already done) he will only be able to
watch everyone other than himself swim-
ming in the payday pool of easy money
for the calculated and patient investors
who never let their emotions cloud their
judgement or actions.”
He was referring to a fork between Bit-
coin Cash and a group of usurpers. Their
jostle for control of the blockchain has
triggered a mining fight between groups,
which liquidated tens of thousands of Bit-
coin and dragged in Bitmain, the biggest
Bitcoin mining group in the entire world
(which has invested heavily into Bitcoin
Cash). While these shenanigans remain
beyond the the U.S. Securities Exchange
Commission’s stated jurisdiction, there
are other government entities who might
take notice.
Crypto investors used to be either extreme-
ly naive and new to the market--students
and computer degenerates--or the high-
ly-technically proficient and financially
savvy; but 2017’s hyperparabolic growth
attracted hordes of newbies. Early adop-
ters tend to love risk and accept a cer-
tain amount of failure. These days, the
early adopters are outmanned by legions
of more risk-averse buyers. The kind of
people who howl for teacher when
something goes wrong--and all it
would take would be a group of
senators or congressmen to stake
their claim against crypto. After
all, this is the country that start-
ed a war on drugs, that created
the credit crisis, that bailed their
big banks and insurance compa-
nies out (everyone else did too but the
U.S and mangled movies and music for
decades with production codes and by
restricting government grants. They
banned online poker. They destroyed
LimeWire and Napster and Megaupload.
They might not be able to get rid of Bit-
coin entirely but if they wanted to they
could obliterate its value.
WHAT AN ATTACK ON
CRYPTOCURRENCY
MARKETS MIGHT
REALLY LOOK LIKE
Cryptocurrencies, especially Bitcoin are robust,
resilient networks and difficult by design to disrupt.
Bitcoin has had ten years of attacks and patches to
adapt and many of the major cryptos are almost as
complex. Attacking it directly, the way the players
in the Bitcash Clash are doing, or attempting to
find some kind of fatal flaw is unlikely (though not
impossible with the resources of the entire NSA,
National Labs and countless government-funded
university researchers prying into them). But, while
the networks themselves are robust and powerful,
the support systems, marketplaces, exchanges and
users are not.
The most likely way the United States government
would attempt to kill crypto would be attacking its
value. Restricting access to its own citizens, would
destroy the value any currency. Investors would
flee. Even rumors that it was planning on doing
something like it would probably provoke a titanic
selloff that would deflate the cryptocurrency
market like a week-old balloon. Especially if
they did it a vulnerable moment. Regulation
could easily confound adoption and choke
off growth (and investment). If retailers were
banned from using electronic currencies or
an aggressive, artificially intelligent audit
of anyone discussing cryptocurrency online
(watch out crypto twitter!) were to happen,
that would stifle growth pretty quickly and
defang the markets. There are also other,
much more active methods of suppressing
it.

Bitcoin may be decentralized but its

miners are targets. They’re vulnerable to
government or diplomatic pressure (for
miners overseas, particularly in China).
Other more aggressive methods might
include cyber-warfare -- attacking mining
computers could quickly slow down the
network and make transactions time
consuming and expensive. Keep it up and a
currency will fizzle out. Exchanges are even
more vulnerable. If you took down Binance,
OkEx and Coinbase, there wouldn’t be
much of market left. There are even fewer
exchanges capable of swapping crypto for
hard currency. Cutting off choke points
would effectively destroy crypto-currency or
at the very least plunge it back into the dark
web age of crypto adoption.

Destroying the most user-friendly aspects

of cryptocurrency would probably be the
easiest method of dismantling crypto. But
there are other methods, some that might
even occur by accident: an aggressive
attempt to catalog all cryptocurrency
transactions (for taxation purposes or
surveillance by the NSA) followed by a leak
to WikiLeaks or the like could undermine
confidence. The U.S. Federal Bureau of
Investigation has essentially destroyed
child pornography by being incredibly
aggressive with its users and distributors.
A combination of an aggressive public
relations campaign designed to disgust
consumers and vilify crypto advocates,
combined with aggressive enforcement
could badly hurt the markets. Hacking could
have been much worse had the US Secret
Service, the FBI, and industry not worked
hard to aggressively prosecute and vilify
hackers in the 1980s and 1990s (remember
the ten-year stretches for teenagers
breaking into government computers?)
WHAT TO
DO WHEN
UNCLE SAM
IS PICKING
A FIGHT
WITH All that said, a

YOU? vicious sudden

crackdown
bringing the
weight of the
government
onto crypto doesn’t seem too likely in the
medium to long-term future. But aspects
of it, such as the SEC’s encroaching into
crypto’s territory is already happening.
They’re watching us (Americans).

So what to do? The easiest path is to accept

government’s grasp on the new economy.
Comply. Be good. It’s happened to Web 1.0
and 2.0; the wild west of comment sections
and rogue blogs has long been tamed:
Facebook, Google, Apple, Amazon, Microsoft
rule with a squishy totalitarian bent. Of
course the same would happen to electronic
money. Power is about observing and being
observed (to borrow from Foucault). The
real ability of a modern government isn’t so
much its ability to rend you limb from limb
on a whim as it is its ability to silently snoop.
Fear of the all seeing eye is what really
enforces the law. Getting caught is a relief.
You worry you’ve unknowingly strayed. The
web was once free and now everything
infinitesimal blip is recorded in archive
for future persecution. Even if you were
once safe you won’t always be. Sentence
structure is as good as a fingerprint for
identification; speech patterns, gait;
China’s sinister social score no doubt has
its Western contemporaries. Comply,
report your earnings, accept
that you won’t have access
to the most interesting and
potentially lucrative categories
of investment. Just comply.

But that’s just the easy option.

Never forget when Bitcoin
Whitepaper was released
into the wild. A month after
the collapse of Lehman
Brothers, a moment when
the Western world’s banking
system seemed on the brink
of collapse. Forget the tokens
for a moment, forget the
greed, forget trading and
chart analysis and fibonacci
sequences and supports
and tech and remember the
revolutionary potential of this
stuff. Bitcoin is electronic
dynamite. It’s a lit fuse
leading to an anarchist’s iron
bomb. Ripple and Stellar and
Coinbase and LedgerX and
Binance and Gemini all those
people made their nut already
and they’ll do whatever it takes
to secure their place. They’ll
lobby and wine and dine the
politicians and they’ll warp one
another until their interests
and the governments’ are
one and the same. But never
forget revolutionary potential
of this stuff. We’re at the end
of the beginning of something
enormous, the first act is over,
resistance is mounting, they’ve
spotted this strange cozy
magical crypto playground
and they want to mash it
into something they can use,
absorb it and tally it and steep
in the stuff until they pollute
it. The first few iterations of
the Internet lacked power, or
rather we gave it up to easily,
but this time, we’ve seen it all
play out… crypto is about more
than money, let’s remember
that as we greatest power
in the history of the world
lumbers into our crosshairs.
Crypto Universe:
{ Meet the Man Tracking
Cryptocurrencies in A
Digital 3D World }
This month, 21CRYPTOS spoke with
Dr Wassim Alsindi of Parallel Industries on
his research into characterising the deluge of
cryptocurrencies and tokens in the burgeoning
industry.
By understanding the nature of tokenised
assets better– investors, issuers, exchanges
and regulators can avoid headaches of
the legal variety like Paragon, AirFox, DJ
Khaled and Floyd Mayweather have recently
experienced.
¶ to the idea of organising knowledge to further
BY MATT B }
Can you give the readers a bit of background
on yourself ? What got you interested in
cryptocurrency?
¶
Sure, it’s been a winding road though so let’s
not get too lost in details! I grew up in various
towns and cities in the UK mostly reading maths
and sci-fi books, stargazing, misusing home
chemistry crystal growing kits, making music
and playing way too many computer games. Spent
a decade at universities studying, researching
and managing scientific research in chemistry,
physics and astronomy where I really got exposed
our understanding. My chemistry mentor (now
YouTube-famous) Professor Sir Martyn Poliakoff
is possibly the world’s leading connoisseur of
the periodic table of the elements so I’ve had
classification systems such as taxonomies on the
brain for a while now.
After that I spent several years working with
experimental music and arts, running a record
label, organising educational activities, managing
 { Dr Wassim Alsindi *
of Parallel Industries }

* Dr Wassim Alsindi and the author Matt B both work

together on an unrelated non-profit initiative

Photographer: Ben McMillan


As part of the work
on taxonomies,
typologies & other
classification methods
for cryptographic assets,
Parallel Industries started
with the organisation of
information.
{ Humans are pattern-
craving creatures,
tending to classify and
order surroundings.
Linnaeus developed
empirical & hierarchical
binomial taxonomic
classification in his
zoological practice &
Haeckel used similar
techniques. }
interesting projects and curating a festival. Whilst
on a music tour around the US West Coast in 2012
we went to a friend-of-a-friend’s place in Silicon
Valley, he opened his closet and said “check this
out, I’m doing this thing called mining Bitcoin”.
It took a while to be convinced, the idea sounded
great but everything I could find online looked
quite sketchy - Mt. Gox, Bitcoinica, BitInstant and
all that - and it wasn’t until 2014/5 during what
may have been Bitcoin’s darkest days that I started
to get really interested. The idea of natively
digital money that isn’t controlled by anyone has
obvious appeal, but surviving the Gox incident
showed me that the technology had some serious
resilience and could be a long-lived proposition.
Since then it’s gradually taken over my life as I’ve
worked my way through various activities as a
hobbyist - watching the markets, running nodes
and following on-chain activity, messing around
with coloured coins and smart contracts, mining
and now research of various flavours through
an independent research organisation Parallel
Industries.
¶
Tell us about TokenSpace!
TokenSpace is an attempt to make a relatively
simple and easy to use comparison system
out of the sprawling and confusing mess of
cryptocurrencies, tokens and suchlike that we
 find ourselves with today. Think of it as a 3D
“space” to place different assets inside, with each
of the axes representing a characteristic that we
can use to visually compare and contrast different
assets. The position of an asset along each axis is
determined by a scoring system between 0 and 1 for
that characteristic, so that a score of zero means
the asset doesn’t have those properties at all, and a
score of one means it’s a textbook case. Where the
score comes from is up to the user, it can be from an
intuitive ‘gut feel’ perspective, a weighted taxonomy
of different properties, a consensus view from a
panel of advisors and so on. It all depends on the
intended application.

The primary application so far has been to look

at the ongoing uncertainty as to the legal and
regulatory status of cryptoassets and how similar
or different they are to traditional asset types such
as monies, securities or commodities. Obviously
there is a lot of variation from asset to asset and it is
becoming increasingly clear that government bodies
are looking at these things closely.

It’s important to understand that the difference

between concepts like TokenSpace and the periodic
table of chemical elements is that we are still very
much in a subjective realm with cryptoassets, and
therefore any particular score should be taken with
a pinch of salt. People are not going to have the
same opinions on a lot of these things - if you follow
the cryptocurrency and blockchain space then you
will know that humans are VERY biased creatures!
A future avenue for this work is to explore different
perspectives to see where they come together and
where they do not. You could say we are still in the
occultist and alchemical phase of cryptocurrency...
{ TokenSpace Visual
Impression }

Securityness: The extent to

which an item or instrument
{
qualifies as or exhibits
characteristics of asecuritised
The difference
asset.
between concepts
Moneyness: The extent to
which an item or instrument like TokenSpace and
qualifies as or exhibits
characteristics of a monetary
asset.
the periodic table of
Commodityness. The
chemical elements
extent to which an item or
instrument qualifies as or is that we are still
exhibits characteristics of a
commoditised asset. very much in a
subjective realm with
cryptoassets }
¶ {
Bitcoin and
Tell us about the metrics you’re
using to place the assets in this 3D
space.
Litecoin still
The axes I’ve chosen are for the aren’t great
as monies
properties Securityness, Moneyness
and Commodityness - in other words
how much a coin or token embodies
or exhibits the characteristics of
a securitised asset, a money or a
commodity. Having encountered the
compared to
fruitless debate of “I think token X
is a security but you think it is not”
innumerable times, and given the fact
fiat currency}
that these tokens and networks are
hybrids of payment mechanisms, rights
to on-chain property like masternodes,
value stores and consumable resources
it seems reasonable to allow a greater
ability to differentiate between more
subtle differences in these assets.

One thing that’s nice about working

with a conceptual framework like this
is that it could easily be adapted for
another purpose - for example Parallel
“commodity-like” characteristics as people often refer to the
Industries have begun a collaboration
digital gold and silver memes so they would place reasonably
with DAO specialists who want to apply
well on that, though bitcoin has much more liquidity and
a similar approach to characterising
market depth so it would be easy to make a case for it being the
the organisational structures that
premier digital commodity. Neither have much in common
exist around decentralised networks
with securities though you could make a case that litecoin’s
and providing the right dimensions
founder and Foundation are somewhat relied upon for
are found, there’s no reason why you
expectation of profit. As much as it’d be nice to say otherwise,
can’t also build a set of taxonomies or
bitcoin and litecoin still aren’t great as monies compared to
scoring systems for that purpose. It
fiat currency so they do still have some ground to cover there.
does require careful thought and design
choices to ensure you end up with a Tether functions primarily as a monetary substitute although
useful tool that can be meaningfully it’s hard to be confident about it’s supply or ability to store
used. value in the long term, though by virtue of its stability against
fiat currency relative to traditional cryptocurrencies it does
fulfil that purpose reasonably well in today’s high friction
¶ on and off ramps with exchanges for example. It doesn’t look
much like a commodity or a security to me.

Polymath is not one I’m very familiar with, being a security

How would you distinguish
between, for instance, Bitcoin,
Litecoin, Tether and Polymath with
this framework?
Good question. I think it’s reasonable
to say that bitcoin and litecoin
are often thought of as having
token platform they are at least being upfront with that. As
an ERC20 token on Ethereum with a central administrative
team it does seem to have a lot of the hallmarks of a security
and though there does appear to be some “utility” being used
to issue securities tokens on their platform it could be argued
that it has more commodityness than the typical Ethereum
ICO vintage of 2017 or something quite useless such as XRP
but nowhere near as much as bitcoin or litecoin.
¶ far (and many more to come) are from a lack of understanding
of how these assets and the underlying networks function and
evolve over time. It’s virtually impossible to have a complete
grasp on these things - even Satoshi didn’t have every angle
You’ve taken on the seemingly
covered! The biggest mistake I’ve seen being made so far
insurmountable task of attempting
by officials is the rush to make sweeping pronouncements
to classify crypto assets. What are
without being able to back them up with justifications that
regulators doing wrong? What sort
make the situation even less clear.
of organisations would benefit from
this? One example are comments made by US Securities and
Exchange Commission officials that the ETH crowdsale was
It’s a tall order indeed, and perhaps
a securities offering but the Ethereum network has since
not surprising that it’s taken a while
become “sufficiently decentralised” and therefore is no longer
to get to this stage. The hope is that
a security. Taking that at face value, it suggests that at one
tools like TokenSpace can help coin
point, ETH has passed through a “legal / not legal” boundary,
and token issuers, lawyers, regulators
but where and how? What made the difference and how was
and exchange operators get a better
that decision arrived at? Node distribution? Concentration of
grip on the characteristics of different
tokens amongst insiders? Decentralisation of leadership? It’s
assets and avoid making misinformed
not easy to resolve that with existing securities laws guidelines
decisions such as blanket bans, listing
like the Howey test. What about network forks and issues such
or adopting assets which might cause
as The DAO exploit? These sorts of things are going to keep
them compliance headaches or issuing
happening.
poorly designed tokens which might
land them in hot water later.

I’ve met a few regulators, token issuers ¶

and exchange compliance officers and
it seems that a lot of the pitfalls seen so

What could they be doing better?

Make clearer statements, do your homework to understand

the technology at play and be more upfront about decision-
making processes! What are the metrics that regulators
deem important? Why? Don’t build rigid legal frameworks
that can’t cope with the breakneck pace of cryptocurrency
developments. There will always be regulatory arbitrage with
borderless technologies, just look at Malta and Puerto Rico.
Which small nation will be next to reposition itself to attract

{ TokenSpace
Example }

○ BTC
△ ETH
+ XRP
× USD
◇ AAPL
▽ GOLD

{ A potential
example of a
Regulatory
Boundary
Function }
jurisdiction-hoppers like Binance?
There is also the perennial issue of
suit-wearing legions of “Blockchain
Experts” who usually land
governmental advisory roles but
seem to know very little about the
ins and outs of applied cryptographic
networks. Having spent a very
frustrating year in a business school
environment having to deal with
charlatans claiming proficiency
with blockchain and cryptocurrency
recently, I can confirm that this is a
very real problem.
¶ too long. Keep an eye out for an
What else is Parallel Industries
working on? What are your future
plans?
Currently Parallel Industries is
very much in the bootstrap phase,
limping along with very little
income (thanks bear market) so it’s a
major priority to bring in resources
through sponsorship, consulting
and contract research to operate
{
A lot of the
pitfalls seen
so far are
from a lack of
understanding
of how these
assets and the
underlying
networks
function and
evolve over
time }
sustainably so that we can expand
our research activities and yours
truly isn’t spread quite so thinly!
The TokenSpace paper is finally
approaching readiness and our
Forkonomy project undertaking
comparative analysis of network
forks (such as BTC/BCH, ETC/
ETH, BTCP/ZCL) has already had
a number of outputs including
a talk at the recent ETC Summit
in Korea and a well-received
paper. There’s also a project in
progress named DAOs and Don’ts
looking at power imbalances in
cryptocurrency networks which
has been on the sidelines a little
article series on political and
humanitarian hacks and use
cases for cryptocurrencies in In
The Mesh magazine under the
title Reaching Everyone.
If any of that arouses curiosity do
a look at our website www.pllel.
com or find us on Twitter
@parallelind. If you’re a crypto-
millionaire looking for a way to
lighten your bags and fund some
research in the process, we can
help with that too!
 2018
A
CONFERENCE
ODYSSEY

BY JEN HILL
Cr ypto dominance is real –
just consider the number of
conferences throughout the
world bringing together the
current and future leaders,
hodlers, and builders alike.
From Lithuania to La Jolla,
cruise boats to castles and sta-
ble coins to ICOs, cr ypto com-
petitions to token economics,
there is a specific conference
for ever y aspect of cr ypto in
ever y corner of the globe.
IN 2018 WE
London,
Malta,
COVERED
and Santa Barbara
MANY OF THE
turn out the highest number of
quality conferences, and Sophia MAJOR CRYPTO
Hanson, the conversational
Humanoid, was even more pop- CONFERENCES,
ular at these events this year
than Charlie Shrem. Let’s took INCLUDING
a look at some of this year’s
conferences and get a taste of SOME OF THE
what’s coming in 2019.
LONGEST
RUNNING, FOR
OUR READERS.

Previous Page_ XYO

Spatial Summit in San
Diego, CA, USA., with
Co-Founder Scott
Scheper on stage.
 If Consensus 2018 was
JUNE swimming in suits with
watches worth more
than lambos, Ethereal
ETHEREAL Summit was a sea of
ideological develop-
ers and artists dressed
SUMMIT like the “low-key bil-
lionaire”s as coined
by the Daily Show’s
Ronny Chieng. Chieng
BROOKLYN, and Lubin, along with
Kavita Gupta, brought
NEW YORK even more levity to
this chilled out space
by roasting each oth-
er and poking fun at
the nerdy crypto folks with their
own language and Lubin’s lack of
facial movement.
In response to Chieng’s ribbing
about all this being a hoax, Lublin
responded, “The scam here is mov-
ing from a scarcity mindset fear
based way of living to a world of
abundance, a world in which we
Previous Page_
Ethereal Summit
main stage
have positive feedback loops that
enable us all to create value.”
The scope of speakers and expe-
riences presented held true to the
Summit’s claim to bring together a
wide range of actors and use cas-
es of the Ethereum space. Nearly
everyone towed the reassuring line
of this is the future, this is a revo-
lution, these applications will have
real world use and positive impact
in the not too distant future.
Off the blockchain, the first ever phys-
ical CryptoKittie was purchased at
the Codex live auction for $140,000,
paid for in Ether from the new Kit-
ty owner’s phone of course. Before
you balk, the piece was designed by
the director of art for CryptoKitties,
Guilherme Twardowski, and donat-
ed to the auction. The income from
the sale went to the Foundation for
Arts and Blockchain.
Left_ Ethereal Summit
Attendee Ailsa
Gilliam is developing
a game that will
teach young girls
the warning signs of
domestic violence
while working with
researchers to keep
medical data on
blockchain
JULY

CRYPTOLINA
RALEIGH,
NORTH
CAROLINA

(ESTABLISHED IN 2013)

In times of accumulation,
when traders are uneasy at
best and more typically at each
other’s’ throats, the steadfast
continue adding to the sys-
tem’s foundation - building,
or mining away. “Of course
there is an impact when the
market dips like this, but it’s
not our concern and we don’t
get distracted or deterred by
it.” says Joe Roets, Founder
of DragonChain. Those who
are most upset by the price,
are those who are not confi-
dent in what they are build-
ing. He continues to explain,
“A product is half marketing
and half innovative.”

Top_ Valerian Bennett of PopChest

Middle_ Joe Roets, Founder of DragonChain

Previous Page_
Cryptolina 2018 Bottom_ Anthony "Pomp" Pompliano. The man behind
main stage "tokenize the world", "smart money don't gamble", and
"the virus is spreading".
Left_ Installation in the
Rebel Entertainment event
space, dripping in future

Top_ Hosted by
Untraceable, the Futurist
conference's main stage

Middle_ Kyle Kemper

lends his car to blockchain
expression at Futurist

Bottom_ Conference crowd

overlooking Toronto's
skyline on the other side
AUGUST

FUTURIST
TORONTO, Matthew Spoke, Found-
er of AION Foundation,
ONTARIO asked the audience
how many remem-
bered “Ask Jeeves”,
the search engine that
almost did. There was a decade worth of
search engines before Google dominated
the scene. In comparison, we are now is at
the planning stages of “Ask Jeeves”. Nataly-
ia Hearns, Director of Crypto Chicks, gave
us the numbers. The number of Blockchain
wallets has been growing since the crea-
tion of the Bitcoin virtual currency in 2009,
reaching over 25 million Blockchain wallet
users at the end of June 2018. That is .003%
of the world’s population. The Internet had
a similar number of users in its second year
after getting out of the labs, but a higher
percentage of a smaller population back in
1996. That is how early we are.

Each company, each line of code, each ser-

vice provided to bolster the industry, can
be seen as one step in a long process of
pro-actively developing platforms, prod-
ucts, and standards that have a chance of
making it. Everyone in this space is taking
risks for the chance to contribute to a new
future.

From the top 1_ Founder Kate Hiscox

demo'd DAX Technologies in front a
panel of judges.

2_ Decent's CEO and Co-Founder

Parker McCurley (right) and Strategy
and Partnerships Kevin DeFranco (left),
with Jen Hill.

3_ Hypercube high quality explainer

video Founder Roderick Chaassen talks
the future of Leadership (photo by
Tracy Leparulo)

4_ Hypercube's Jesse Allan

interviewed attendees for two solid
days.
This page_ This talkative
robot was engineered
using a number of
open source software
programs, including face
recognition software so
they could remember
your name next time
they see you.

Next page_ The crowd

at All Things Open
consisted of developers
and tinkerers alike.
OCTOBER

ALL THINGS OPEN

RALEIGH,
NORTH CAROLINA

Who presented at All

Things Open and what
they said:

“"
The Internet of Value is just beginning to take shape,
and it isn't just about peer to peer payments,” she says.
“We're redefining how businesses and governments
engage with each other, global citizens, and consumers.

Building ethical, secure, scala-

“"
Bitcoin is a
phenomenal
piece of
technology.
It is the epitome of
ble systems that work in the real
information security; a
world is a huge responsibility database not protected
and I can't wait to share what by anything, out in
the public, that has
we're working on.
been running for 10
years unhacked. Why
Amber Baldet, Co-CEO of Clovyr shouldn’t all of our data
have that security?

Brian Platz,

“"
Co-CEO of the
database-meets-
Blockchain company
Within twenty years there will Fluree, PBC
not be cash.
All money will be digital. The only thing that matters is
will it be open or closed? Will you be using Facebook
money or...?

Andreas Antonopoulos,
Author of Mastering Bitcoin
OTHER
CONFERENCES
IN 2018 Top Right_
Roger Ver
speaking
at WBF
London
World Blockchain Forum (WBF)
September 3–5, London
Attendance 1,500
Ticket price $1,200
Suit to Sweatpants Scale Super suity
Mission Join visionary leaders, economic pioneers and
enterprising investors from around the world as they dis-
cuss the future of our financial world at Keynote’s big-
gest blockchain industry influencer event. In 2018, WBF
London focused on the future of ICOs and delved deep-
er into the emergence of security token offerings (STOs).
Year Established 2017 (Keynote has been doing events
since 2012)
Notable speakers David Chaum (cryptographer and
founder of DigiCash); Craig Sellers (Tether Co-Founder);
Roger Ver (CEO Bitcoin.com).
“All the naysayers in 2011 were wrong about Bitcoin and
all the naysayers about Bitcoin Cash today will be wrong
about Bitcoin Cash. At the end of the day, digital cur-
rencies need to be usable as a currency and...to have
fast, cheap reliable transactions and the BTC version of
bitcoin no longer has that and the Bitcoin Cash version
does.” - Roger Ver.
Past speakers Brock Pierce and Charlie Shrem.
Vibe Heavily produced and well covered by major media,
this is one of many events that the production company
Keynote produces. Speakers and ICO pitches were giv-
en limited time. Roger Ver spoke for 15 minutes, and the
entire event took place on one stage.
Companies represented Dash, EOS, Augur, and Aion.
Malta Blockchain
Summit
Nov 1 - 2, Malta’s gaming district
Ticket Price $450
Suit to Sweatpants Scale Tight
suits and bodycon dresses.
Attendance 8,500
Special Event Blockchain Hack-
athon with a $50,000-worth-of-
crypto grand prize.
Keynote speakers Sophia Hanson
(the Humanoid) and her eccentric
engineer, James McAfee, Justin
Sun (Founder of TRON), and the
Winklevoss twins (Co-Founders
and Presidents Gemini).
“For the first time in human his-
tory we have the key to unlock-
ing the door to full control over
what we deserve, where we live
through the mid and the heart -
connected together.” - John McA-
fee (CEO with Luxcore and well,
John McAfee).
Vibe European version of Consen-
sus. Frenzied and crowded. Filled
with eccentric crypto folk and
developers as well as hoards of
blonde models swirling around a
huge exhibitors hall where large
corner booths costing upwards
of $35,000 and bathroom stall
sponsorship of $1,000 a toilet.
After party on a boat Yes
Dates for next year May 2019

World Digital
Mining Summit
September 21 - 23, Tbilisi,
Georgia
Ticket Price $410 - $1,450
Suit to Sweatpants Scale But-
ton down city, population
everyone.
Attendance 1,000
Year Established 2018
Special Event A traditional
ballet performance followed
Roger Ver.
Main hall speakers Jihan Wu
(CEO of Bitmain), Roger Ver
(CEO Bitcoin.com), and lots
of CEOs of major mining
companies.
Interesting side room pres-
entation “Keeping Miners
Cool: Cooling Strategies for
Blockchain Mining Facilities.”
Sponsors Bitmain and Bitkan
Vibe A special kind of nerdy,
where East Europe meets Asian
miners. One stage for present-
ers, all live streamed, record-
ed and published on YouTube.
Left_ WCC's first
annual poker
tournament
winner crypto
OG Jeremy
RossRight_ Posh
Aria hosted this
year's WCC Vegas
World Crypto Con
Oct 31 - Nov 2, Aria Casino and Hotel, Vegas
Ticket Price $599
Suit to Sweatpants Scale Hipster meets glam.
24 / 7 sunglasses.
Attendance 4,000
Year Established 2018
Special Events Crypt0ween Halloween theme
party at Aria’s nightclub Jewel and a poker
tournament with some of the best known in
the cryptosphere; Charlie Shrem and Brock
Pierce won by crypto OG Jeremy Ross
Notable speakers Ronnie Moas (Standpoint
Research Founder); Maxine Ryan (Bitspark
Co-Founder and COO); Charlie Lee (Inven-
tor and Founder of Litecoin).
“People ask me what is backing Bitcoin?
My answer is what is backing the US dol-
lar. Nothing is backing the US dollar. The US
dollar has lost half of its value over the past
35 years. Bitcoin will actually be acting like a
currency that appreciates in value because
of how it is structured.” - Ronnie Moas
Vibe If crypto twitter had a physical world,
this may be it. An EDM festival except for
less music, though not much less, and more
crypto.
After party More than you can count.
 LOOKING AHEAD:

Spatial Summit
FEATURED
November 9 - 11, San Diego, CA CONFERENCES
Ticket Price - $197 - $1,497
2019
Suit to Sweatpants Scale Hood-
ies and baseball caps.

Attendance 700

Year Established 2018 The North American Bitcoin Con-

Special Event The audience at ference (BTC Miami)
Spatial got to see the very first will be held in Miami, Florida 16th through the 18th in 2019
XYO-enabled smart contract and is part of Miami’s Blockchain week. It’s your chance
transaction, executed live via to see Charlie Shrem and the crew from the World Block-
drone. chain Forum in London as the event is also hosted by
Keynote. Better weather and poolside instead of fireside
Not your average conference XY chats.
is one of the few companies out
there that has a working prod-
uct with over 1 million GPS (some
Advancing Bitcoin Conference
GPA hybrid Bluetooth) beacons
in London is a new a two-day technical conference that
across the world, they enable
will skip the Bitcoin 101 workshops and dive straight in
location reporting across their
development tips and tricks. BTC pioneer and profession-
blockchain-based oracle net-
al Cypherpunk, Jameson Loop and his Casa Co-Founder,
work. Unlike most events that
Jeremy Welch are headlining the event with Bitmain engi-
start offering deep discounts
neer Philip Glazman and a host of other techy folks. The
the week before the event to fill
dates are February 7 and 8, 2019.
the venue, Spatial was sold out
a few weeks before the summit
began.
Token 2049
Notable speakers and guests Lar- will host over 2,000 attendees in Hong Kong the second
ry Sanger (Wikipedia co-found- weekend in March as part of Asia Crypto Week. CEOs
er and CIO of Everipedia); Vinny and Founders of Neo, Cardano, Civic, and EOS will all be
Lingham (influential tech entre- speaking at this event.
preneur); Hangover actor Ed
Helms; Diplomat and BasketBall
player Dennis Rodman. Musi-
cians like Drumma Boy and sev-
eral professional race car drivers
were among the special guests.

Vibe The schedule was stream-

lined and the vibe was South-
ern Cali; simultaneously chic,
laid back, nerdy and cool.

Dates for next year Get on the

waitlist.
PRESS RELEASE

GRIC COIN: A COIN FOR THE AGRICULTURAL INDUSTRY

The highly anticipated GRIC Coin Agricultural Project is now in full-swing according to the pro-
ject founder, Adrian O. Edema!

With money raised from the GRIC Coin Project ICO, we will establish a 1000-acre agricultural
farm and production facility where we will plant, harvest, process and package our own produce.
Our GRIC Coin Utility Project (FarmPartner) will allow investors to use GRIC Coin to invest in
actual Agricultural Projects; earning returns on their investment(s).

With the aid of the blockchain, we will implement a transparent sys-

tem. Every item we produce will come with a signature that can be traced
directly to our blockchain by scanning or typing into our blockchain site.
The smart-contract will contain detailed information about the item
including a unique item number, where and when it was produced, total
quantity targeted for the production run, the sequence number of the item
in that run as well as the nutritional information for each item.

Mr. Edema said that the GRIC Coin team is comprised of

experienced farmers, entrepreneurs, blockchain enthusiasts
and professionals from the region where the project will be
located. To learn more about GRIC Coin, visit www.agric.io
or follow us on social media.

ICO in progress: $0.008 plus 10% bonus

PRESS RELEASE

MY WEALTH MAP
Oxford City-based, UK tech startup, Kenda Software wants to remove all barriers to entry and
allow the average Joe to seamlessly enter the world of cryptocurrency. To facilitate this, Kenda
Software has created an app aptly named ‘My Wealth Map’ (MWM).

My Wealth Map allows people to collect premier cryptocurrency Ethereum, in a free, fun man-
ner like Pokémon Go, and without the person having to provide any sensitive banking or personal
information. You' re essentially being given free money via cryptocurrency to use this app, in a
totally risk-free manner.

Using proximity measuring technology, coins are dropped near your location and through com-
pleting the mini games you are rewarded with Ethereum. Real-world gamification. The more
games you win, the higher your experience points will be to unlock larger amounts of Ethereum!

All you need is a valid ETH address to join and play. My Wealth Map recommends the trusted
source: trustwalletapp.com. This is a free wallet address to store your cryptocurrency.

Launched August 2017, My Wealth Map was also created to help the high street, with footfall
declining due to internet shopping. My Wealth Map rewards the user with free crypto, and in
turn, drives footfall to your local area!
 NEXT BLOCKLAND
CRYPTO CONFERENCE CALENDAR SOLUTIONS
BLOCK CONFERENCE
CONFER- FOR BUSINESS

DECEMBER ENCE AND

GOVERNMENT
Tel Aviv, Israel
Cleveland, Ohio, USA
2018

12
WEDNESDAY
1-4
SAT-TUE

CRYPTOCURRENCY Digital Solar

WORLD & Storage
EXPO Conference
London, UK Munich, Germany

6-7
THURSDAY-FRIDAY

WIRESUMMIT BLOCK-
2018 INVEST CHAIN DAY
EMIRATES
New Delhi, India

4-5
Dubai, UAE

SUNDAY
2 15
SATURDAY TUESDAY-WEDNESDAY

CRYPTO- TORONTO
CIO EXECU-
DIGITAL
CURRENCY
BLOCKCON TIVE SUMMIT CONFERENCE

Las Vegas, Nevada, USA Toronto, Canada New Orleans, USA

11-12
TUESDAY-WEDNESDAY
11
TUESDAY
3-4
MON-TUE
BLOCKCHAIN Hard Fork
OPPORTUNITY Decentralized
SUMMIT 2018
New York, USA London, UK

4-5
TUESDAY-WEDNESDAY

NAC3 BLOCKCHAIN
& BITCOIN
CON- CONFERENCE
FERENCE
Manila, Philippines

12-14
Las Vegas, Nevada,
USA

SATURDAY
8 THURSDAY
6 WEDNESDAY-FRIDAY

USA Blockchain ATLANTA DIGITAL

BLOCKCHAIN ASSET
and EXPERIENCE INVESTMENT
Cryptocurrency FORUM
Conference Atlanta, USA
Washington, D.C.,
USA
Phoenix, Arizona, USA
11
TUESDAY WEDNESDAY
5
MONERO
PRIVACY
SUMMIT

14-15
Phoenix, Arizona, USA

FRIDAY-SATURDAY
15
SATURDAY