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⭐ Features
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Swiss Cheese is Full of Holes: Past-ICO Review

  • Eric Eissler
    ⭐ Features

    The Swiss are known to be masters of finance and all Delikatessen, but don’t be fooled, there are some struggling projects in the land of cheese and chocolate

Swiss Cheese is Full of Holes: Past-ICO Review
Cover image via u.today

 

The cryptosphere is growing larger and larger and with its growth comes a swell of companies that offer to manage crypto assets and make you more money when you use their services. These companies are now a dime a dozen. While they may claim that they have a new and innovative way  to manage your funds, the details are obscure at best. For example, “Swissborg’s objective is to create a democratic, decentralized and professional ecosystem to manage your portfolio of crypto assets,” according to the white paper.

Swiss clocks are expensive, these tokens...not so much

While Swissborg’s ICO raised $50 mln between Dec. 7, 2017 and Jan. 10, 2018, its market cap is only at $5.9 mln, and the token price has lost 98.9 percent of its value starting at $0.91 per token and shooting straight down to $0.01 per token at the time of writing. It has not been very impressive. CoinMarketCap has it ranked at 496. Remember that not all that glitters is gold.

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Team

Cyrus Fazel- CEO & Founder

Fazel has a formal background in business and finance and has held senior and executive roles within various wealth management institutions before starting Swissborg in June 2015.

Anthony Lesoismier- CSE & Co-founder

Lesoismier has a background in fintech and finance. He has held various positions within this industry in several countries.

Micha Roon- Smart Contract Expert

On first glance, it seems he is part of the core team, however, when looking at the LinkedIn site, he is really just an advisor: “My role at Swissborg is to make sure the Blockchain is used securely and efficiently.” His main role is a senior Blockchain developer at Sweetbridge.

Tomas Hanak- IT Operations

Has more than 15 plus years experience in IT and IT operations management. He is leading the IT charge at Swissborg.

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One hand, too many cookie jars

There are many various projects that Swissborg is tackling. The major difference is in the scope.

A focused company is likely to have a product built more quickly than one that is looking at everything. Swissborg is too spread out and that might make them slow to develop a working platform.

The roadmap on the website has three major milestones, but no expected completion dates. There is a second link that takes visitors to a Trello page with a so-called timeline, but that just happens to be a mess of weeds.

Not really sure what they are trying to communicate on the Trello platform.

Another major roadblock Swissborg faces are that banks are highly regulated and it will be very difficult for Swissborg to operate internationally across multiple jurisdictions. There is nothing in the whitepaper to describe how they will solve this challenge.

Consider alternatives

Yodling, cheese or chocolate making these are all very focused endeavors. Swissborg is all over the place on how it intends to manage wealth and grow. It faces a highly regulated industry with not much direction. There is not much else to say, but “Good luck!”

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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.

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📰 News
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Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’

  • Yuri Molchan
    📰 News

    The head of a major Bitcoin mining pool says that Bitcoin privacy is weak and must be improved to prevent BTC from avoiding governments’ clampdown

Top Bitcoin Miner Warns – Bitcoin’s Privacy Features Are ‘Quite Poor’
Cover image via www.123rf.com

The CEO of one of the largest BTC mining pools, Poolin, has recently stated in an interview that Bitcoin privacy has to be improved. The current privacy features make BTC vulnerable to potential regulatory bolt tightening, says he, as reported by Forbes.

The Poolin mining company was set up by several former employees of BTC.com – a world’s major mining pool, a subsidiary of Bitmain. Among them was the Poolin’s current CEO Kevin Pan.

“Bitcoin’s privacy features are quite poor”

Over the past years, developers have suggested several ways to improve Bitcoin’s privacy. However, those were rejected by the community, since they would hard such major things as security, scalability, etc.

A good example here is Confidential Transactions that were among those suggestions. They disguise the amount of BTC sent in transactions. However, the integration of it was rejected, since it could have had a negative impact on the public verifiability of the present BTC supply.

Kevin Pan says that privacy is much more vital for a crypto asset development than scalability. Pan says:

“There is no other big question if the privacy issue is solved.”

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Governments may start controlling BTC miners

The company CEO believes that in theory, authorities or law-enforcement agencies may start telling miners to block certain address from receiving funds or sending them. However, in that case that would have to be 51 percent of the BTC network.

Pan believes that unless a solution to this problem is found soon, governments will get a chance to prevent transactions to certain addresses from happenning.

“What is more troublesome now is if government or law enforcement departments begin to create a blacklist of transaction addresses, it will make certain transactions unable to be packaged.”

“In fact, these can be done. But if there is privacy, you can't know who the address belongs to, and you can't determine how much the amount is, and there is no way to control the currency system. So for me, Bitcoin is basically no problem if the issue of privacy can be solved.”

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China plans to clamp down on BTC miners

Previously, U.Today reported that Inner Mongolia, an autonomous region of China, plans to ban all the numerous mining pools located there soon.

Since this region is one of the biggest local crypto mining areas, some believe that China is about to ban mining of all cryptocurrencies ahead of the so-called ‘China Coin’ launch.

Do you think that poor Bitcoin’s privacy features could indeed bring down regulatory control over BTC one day? Feel free to share your view in the comments section!

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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