The core team can delete users tokens. Does that make the token Centralised

If the core team can delete users tokens, does that mean the token is centralised and the team have the ability to delete users tokens any time they like?

that sounds like it might be difficult for many users to accept

1 Like

Welcome and thanks for coming and contributing Matina.

Yes, that’s a very good question and I knew this would be controversial. I added it because i wanted a discussion around it.

In one sense this would make the token centralised as we’d maintain an ability to delete tokens from the central blockchain. Although we’ve stated clearly the only reason it would ever be used, we are also asking users to place a lot of trust that the core team would never abuse that ability.

Conversely, this would also make the token less centralised than any other token out there. Whales, pre-ICO investors and founders often own large amounts of tokens. At Davos i met a token startup company offering to promote and support blockchain startups in exchange for 40% of tokens… 40%! Can you imagine a currency where 2 or 3 people own almost half of it!?

This is a reality in the Blockchain space. Many projects have significant percentages owned by enough people to fit in a single taxi. We absolutely must avoid that.

1 Like

As we were saying last night. I don’t think there is any possible way to enforce your limit on how many tokens one person can own.

Your ideas are strong on how to spread it wide during the ICO phase, and I’m glad you aren’t selling out early to raise startup cash like most projects are. Maybe someone else will have other ideas, but after the ICO phase i think you just have to let it go, and it is what it is if some millionaire buys up half your tokens. In your case there’s less incentive to do that as they won’t be buying influence.

I’ll drop back and check in to see how this grows. I think you need to concentrate on adding technical depth to this paper before releasing it to the public.

1 Like

As i suspected you guys are clearly right. I desperately want to prevent any users from owning more than 0.5% of our token, but simply can’t see a way for that to be possible.

I would love any new suggestions if someone has one

The most important thing is that users can’t buy influence in our governance system.

removed from whitepaper