ICOs are being launched one after another and there are no shortage of teams with big dreams who just want to be funded directly by those who are willing to take high risks now and share the glory in due time.
Betting, e-sports and fintech are some of the popular categories of startups currently in ICO phase. End goal of these blockchain based platforms vary between “creating a regulated bank for the digital age” (polybius) to creating a virtual gaming world where players and developers are in constant interaction. A closer look to some of these projects are in order and as always it's a good idea to keep a healthy dose of skepticism nearby.
Crypviser is the latest in a slew of ICO offerings at the moment. It dubs itself as a new blockchain based communication platform that is secure for both personal and business use.
Main premise of Crypviser is based on two pillars:
1- Automated end to end encryption.
2- A new way to implement distributed identity verification on a blockchain.
Value in Crypviser is held on CVCoin which is a unique crypto-token designed for this network. The main purpose of CVCoin is covering charges of blockchain transactions for authentication purposes, to authorize and identify the users’ public encryption keys, to ensure the security of the network.
Using this highly secure and publicly verifiable network the team at Crypviser offers a suite of communication capabilities, namely secure instant messaging (chats), audio and video calls, photo/video and file sharing, group calls, voice conferencing. It's not hard to imagine building any type of data exchange application on this blockchain.
It seems more and more teams are porting existing centralized software suites to blockchain powered applications. And it's not hard to understand, not only ICOs save the companies months of tough negotiations with investors, they also get to skip financial due diligence, strict code reviews, regulatory compliance issues.
Of course on the other side of the medallion, distributed applications come with an enormous incentive for community involvement. Best example for this is PrimalBase ICO. When asked on Facebook why they are building a blockchain based shared workspace company, PrimalBase mentions the power of community as one of the main reasons they are going this route.
Going back to Crypviser, the team says at the end, they will be able to offer are a wide range of encrypted products for business to consumer and business to business markets, which up until now were only available to the biggest corporations, financial institutes, governments and agencies alike.
Blockchain authentication sounds like a simple case of PKI but the team claims to implement a patent-pending algorithm of true encryption key authentication, based on blockchain technology and thus protect against identity theft and MITM attacks.
Crypviser is hoping to offer enterprise grade security and messaging capabilities with lower cost, completely distributed yet dependable.
When distributed applications talk about storage, one does not doubt the resiliency of the underlying system but availability is another question mark altogether. For instance, the claim that an independent encrypted local storage on the user’s device will provide secure storage brings up more questions. We know that that specially device dependant security paradigms require a robust design and to properly keep all kinds of sensitive data safe and protect them from data loss will not be an easy task to accomplish.
Integrated crypto wallet in the Crypviser app, allows to safely keep, manage and transfer amounts through the CVPay system. CVPay is a secure, anonymous and fast money transfer system. The technology also claims to prevent any kind of manipulation, interceptions and man in the middle attacks on all network levels.
To an observant reader this will remind how fickle and weak World Wide Web was in the beginning and how it's very much full of potential security holes now. In spite of the enormous value it added to life on Earth, there is still long ways to go. Most of these companies are finding better ways to do things we already do online. A few of these are imagining things as they have never been imagined before. It's up to the markets and million little uncontrollable things to decide which ones swim, which ones drown.
A quick look at the ICO schedule for example at www.coinschedule.com shows 21 ongoing ICOs with several more scheduled to start very soon. For lack of a better term the “gold rush” to cryptocurrencies and token based governance models continue. In this brave new world, knowledge reigns supreme. Information is everywhere and there's very little distinction between what's real versus what's not, what's tangible versus what's vaporware and what creates value versus what rides hype waves. Still one can't help but wonder what possibilities lay ahead because let's face it, for better or for worse, people will keep doing what they do.
BTC: 1AuFMn8n84f1k3C6DTpxkYf1EUAa3AAA7b
ETH: 0x45e4a518101f0c65a8427b2569aff69b8c6bd08e
