What happens right now in the crypto space is both exciting and horrifying.Why exciting? The worldwide landscape is changing thanks to Blockchain / DeFi projects that bring real value. We are living in a beautiful era - Web3.0 - where anything seems possible ( NFTs, Finance, Stakings, moonshots, etc. ).
Why horrifying? Because you can lose everything in one day. More and more scams are taking place. I personally have been targeted hundreds of times on social media by bots or scammers, pretending to invest/manage crypto on my behalf. I got dozens of emails, 'blackmailing' me by asking BTC to a specific address, or else I'll find myself naked on the web Grin Grin Grin
But these are not the worst scams yet. At the moment, the most dangerous scams are coming from pump&dump projects and crypto influencers.
We all know what a pump n dump means. Let's focus on the crypto influencers.
Basically, every new project wants to generate awareness and exposure to the crypto community fast. The solution? Influencer marketing.
The process consists of contacting the influencer, presenting the project, and getting a price quote from him. Usually, the prices and humongous and the execution is, well, really really weak. Thousands and tens of thousands of dollars for some tweets/posts with your own copywriting. Yeah, that's it. That's how weak their execution is - copy-paste, then cash in.
Fake ICO's, pump&dumps, and other shitty projects are being presented to moonshot seekers, wanting to get rich overnight, but ending up losing everything instead. No quality control, no research whats so ever.
Shocked Well, here is where things get optimistic. What if people could be held accountable for their actions? What if this accountability would be stored on the blockchain?
This is what Coreto.io has been working on for the last 2 years, a platform to hold people accountable for the information they share. Their ALPHA will release somewhere this spring and i am very excited to be riding this wave early.
Find out more about their project on Twitter or www.coreto.io. They also have a telegram group where you can discuss directly with the co-founders (https://t.me/Coreto).
Cheesy Hope this post sparked some interest regarding the lack of trust and transparency. Have a great week everybody! Cheesy