Swarm Fund is lying. They say that you need large amounts of money to buy real estate and your money is tied down for an indefinite amount of time. This is false. You can buy one share of a REIT, and there are thousands of REITs to choose from, and you can sell it one minute later. If they start off their pitch with a lie, what else are they lying about?
There is another flaw with Swarm, which is similar to the flaw with CombiCoin. You will have to trust that the coin is backed up LEGALLY by the land title of the real estate. Who is the owner of the real estate? John Doe? Who is to say John Doe will uphold any agreement that the real estate, which has his name in the municipal records as the owner, will be ascribed to the coin holders?
I would put
BurstIQ in the same bucket with
Datum and
ARToken: The stupidity bucket. As soon as I saw “153 Exabytes of Data” on their website, I stopped reading. This shows that they know nothing about the blockchain or they are lying.
Bitcoin is already having scaling issues with its 120+GB blockchain and it’s only storing small numbers for each transaction. Ethereum’s blockchain shot past Bitcoin’s and is approx. 200GB. Scaling is Ethereum’s biggest issue. It stores only smart contracts. Who is going to run BurstIQ’s full node of 153 Exabytes? You?
The only way to process that much data is to do it centrally, which means that you cannot have a decentralized system. When its centralized, then you risk the chance of someone stealing the data, like what happened with Equifax. Even then, I’m not aware of any company in the world that can process a database of that size.
I tried to start
Confideal’s smart contract but MetaMask told me:
“Signing this message can have dangerous side effects. Only sign messages from sites you fully trust with your entire account. This dangerous method will be removed in a future version.”
So much for that.
Change-Bank is way too late to the party. Monaco, TenX and Centra are doing debit cards as well.
Also, nobody is going to put their coins in a bank or any centralized place, for the reasons that Andreas Antonopoulos cited. You are creating a honey-pot for hackers and employees to steal.
Also, they lie about their team. Their “Blockchain Expert” worked as an Inside Sales Rep until 1.5 months prior. Their “Blockchain Developer” never developed a blockchain before.
Also, banking and insurance are very complicated businesses. None of the people on Change-Bank's team have experience in banking or insurance.