19 Apr 2019
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tech
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Comments
#security
#privacy
#blocktopus
Token offerings have enabled companies to crowdfund their operations by issuing freshly minted tokens to users that are willing to trade them for profit or to get a cheap early access ticket to the upcoming services of the token issuer. This process despite its benefits, has also suffered from a series of incidents that have damaged the trust between the token issuers and the potential buyers.
According to a 2018 study from Satis Group, approximately a 81% of the Token Offerings had been identified as Scams. ~6% of them Failed, ~5% had Gone Dead and ~8% of them ended up being traded on a exchange. Adding up the numbers, in 92% of the cases the users lost their funds, since they didn’t manage to trade the tokens on a exchange or to get the token issuer’s service in a discount.
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Panos is an engineering leader at Databricks, with over a decade of experience in cybersecurity and engineering leadership. His career includes security research at CERN, security engineering at Microsoft Office 365, and founding Blocktopus, a KYC/AML startup. He holds patents, has published research in security and machine learning, and has helped scale startups from pre-seed through Series B. On this blog, he writes about security, leadership, and developer productivity.
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