The Wall Street Journal made new research about how more than 15% of crypto projects that are trying to raise funds via initial coin offerings (ICO) make the investors stop and rethink since the projects have serious red flags that should be reconsidered. In the latest blockchain news, we take a closer look at the research.
The conducted investigation and the analysis of the whitepapers show that about 3,300 cryptocurrency offerings and ICO that were launched last year (2017) likely committed plagiarism or misinterpreted the project founders but most importantly promised unrealistic returns.
The reporters of the Wall Street Journal compared how the sentences were constructed in the reports in order to find duplication and also searched to identify offerings where there were no team members provided. If there is no team members named or the founder of the project, this is always a red flag for the projects since they should be one of the first details that the investors look for.
Also, the reporters found keywords such as ‘’high return’’ because it is a manifestation of critical marketing terms and also analyzed how the projects unrealistically offered the ‘’high returns’’ and advertised it as a ‘’can’t miss’’ opportunity.
More than 30 projects are now being carefully examined by regulators and half of the project websites are now unavailable.
This is not something we haven’t seen before on the market. One of the largest cryptocurrencies by market cap TRON has received a red flag for possibly plagiarizing sections of its whitepaper.
The US Securities and Exchange Commission is also conducting a program for taking down of fraudulent ICOs such as the ‘’Operation Crypto Sweep.’’
Deloitte Features Blockchain In Its Annual Tech Trends Report
“Today, blockchain is to trust what the web was to communication: a profoundly disruptive technology that transforms not only business but the way humans transact and engage," the report notes.Deloitte also agrees that blockchain is viral, saying that the technology is “capturing both mindshare and investment is remarkable considering that a few years ago the word blockchain was known only through its relationship to cryptocurrencies. One of the areas where blockchain is likely to develop in the coming year, according to Deloitte, is the technology that includes "gateways, integration layers and common standards." However, Deloitte also shared the obstacles of implementing the technology, mainly related to the time-consuming operations, lack of standardization, high costs and complex applications.
Stellar’s XLM Token Added To Greyscale’s Crypto Investment Trust Fund
“I think the theory is a sound one,” he said about Stellar’s business proposition for bridging crypto to fiat currency conversions. An American bank may be keeping large amounts of currencies in foreign banks, and to be able to bring those balances of foreign currencies onto a balance sheet as working capital is valuable. Financial institutions won’t be required to hold balances all over the place. This will improve efficiency and shore up balance sheets for other uses.”Stellar had amazing performance especially in Q4 after striking a deal with crypto wallet provider Blockchain.com in order to start distributing XLM that is worth $125 million in an airdrop, hoping to increase bigger awareness and adoption. In the meantime, Greyscale had a mixed year in 2018 after bitcoin dropped to its 15-month low at $3,130. The company’s Bitcoin Trust was worth less than $1 billion for the first time in 2018. According to the crypto industry newsletter Diar’s research, Greyscale in the same apparently had holdings just over one percent of the total BTC in circulation. After the announcement, Stellar increased up by 1.22 percent.
SEAT Car Manufacturer To Start Working On Blockchain-Based Products Development
Bitcoin ATM Operator Coinme To Start Selling BTC At Coinstar Counting Machines
“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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