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The Downside To Having A "Face" To A Crypto Project by taskmaster4450

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· @taskmaster4450 ·
$5.52
The Downside To Having A "Face" To A Crypto Project
I recall a discussion on here a while back about the idea of having a "face" for the blockchain and that successful technologies tend to have an individual associated with them.

Of course, this point overlooks the fact that Bitcoin was designed by Satoshi with the intent desire not to have anyone associated with it as the developer/founder.  Whomever is behind the project realized the risks that are associated with having an individual as the head of something so disruptive.

On a smaller scale, we see something similar happen this week.

https://static.coindesk.com/wp-content/uploads/2019/07/48240888631_32bb233048_o-860x430.jpeg
<center>[Source](https://www.coindesk.com/too-sick-for-buffett-lunch-justin-sun-attends-tron-influencer-party-in-sf)</center>

Justin Sun is now accused of money laundering, drug running, and whatever else they are trying to pin on him.  Obviously, as you can tell, I am a bit skeptical since these are the typical accusations they launch when governments and other powerful entities want to take individuals down.

Either way, whether the accusations are true or not, the fact that TRON has a face to go along with the project made it a target.  The token price took a hit when the news of the accusations against Sun broke.

This brings up a much bigger issue.  

While one can make the case that a blockchain like Steem is ill-served, at times, by not having a front person out there promoting it, I think we can see how the downside is much worse.

When that "face" trips up, this can reflect very poorly on organizations.  We are accustomed to this in the centralized world with businesses having dynamic leaders who capture the media's attention.  People such as Jobs, Gates, Musk, and Zuckerberg get a lot of attention.  At times, they can do things that have an ill-effect on the organizations they represent (Musk seems to excel at this).

In the decentralized world, things can take on a different meaning.  Obviously, Dan Larimer is the technological brains behind Steem along with Bitshares and EOS.  His departure from Steem could be viewed as a hit but it did not take the ecosystem down.

By the same notion, Ned Scott, as head of Steemit Inc, was the de facto "face" of Steem.  However, he failed to embrace this in a manner that served the community.  Of course, this could also be viewed as a positive seeing how his tenure as CEO of that company ended.

Bitcoin is, by far, the largest cryptocurrency by marketcap, without anyone being the public figure that many often associate with successful projects.  Here is another instance where Bitcoin is a trailblazer.  Projects, especially decentralized ones, can excel without anyone being associated as the "face".

This is a difficult for many to embrace since we are accustomed to top-down organizations.  Blockchain should not have a "leader" in the traditional sense.  The decentralized nature means that we can see the tentacles moving in many different directions.  Having one person (or a few people) encompass all of this is difficult.

To me, the lesson of Bitcoin is there is nobody to target to try and take it down.  My belief if that governments around the world would love to be able to drum up some charges against the founder or "CEO" of Bitcoin.  This person does not exist, at least publicly.  Can you imagine the circus they would put on to drive their point home?  It would make the Julian Assange situation look like child's play.

We are at an interesting time.  The heat is being turned up against many crypto projects.  We know that Facebook really put regulators and governments on notice with its announcement of the Libra.  It is a safe bet that bankers see exactly what is taking place.

For that reason, I feel it is best to fly under the radar for a while.  If they do not know where to target, it is hard for them to shoot someone as an example.

Without a face, there is nothing to smear.

___
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πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 127 others
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vote details (191)
@financialadvice ·
I would be very careful with investing in projects where they are all talk. Tron was really riding the wave of cryptocurrency hype and the CEO was an expert at it. From the start, there were concerns about the originality of the project. It borrowed too much from Ethereum (it even started as an Ethereum Token), and it borrowed its name from a movie. It also bought into BitTorrent which has never had a good reputation and lost all its commercial value years ago. Who knows maybe he will pull it off but this is looking increasingly doubtful.

Being both Chinese and America and even worse involved in a cryptocurrency project, it was almost certain he would be investigated by one party or the other sooner or later. Also, his ties with Binance are conspicuous and I believe that exchange may be next. America and China are sparring and having an economic war and cryptocurrencies will definitely be caught in the crossfires.
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@mattclarke ·
I saw the way the feds kicked down Craig Wright's door ten minutes after he claimed to be Satoshi.
Vindicates Satoshi's wisdom in staying anonymous.
You're right about having a front man. Look at Cody Wilson of Defense Distributed. 
They took him down for sleeping with an underage girl; (the entire thing stinks of a sting)
He had to step down for the sake of the organisation. 
πŸ‘  
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vote details (1)
@newageinv ·
The fact that people are taking time to notice these communities and faces means that they are making an impact to the future and are already disrupting the development of many industries.  The disrupted will do as much as they can to remain in a position of control.
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@prameshtyagi ·
I had advised many times to @ned to silently step away from the scene in the same way as Satoshi did. People who understand the disruptive nature of decentralized ecosystems - would at some point, after setting p things, like to disappear for the benefit and growth the system they created. Satoshi was brilliant who could see the benefit of disappearing.
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@shanghaipreneur ·
I'm not even sure those government accusations were even a thing. Someone on Weibo, or even some Tron sock puppet, stirred up those rumors to get him trending like everywhere... then voila! Tron dapp goes on Launchpad. Justin is the Master Fominator!
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@steem-ua ·
$0.03
#### Hi @taskmaster4450!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your **UA** account score is currently 6.112 which ranks you at **#292** across all Steem accounts.
Your rank has improved 1 places in the last three days (old rank 293).

In our last Algorithmic Curation Round, consisting of 116 contributions, your post is ranked at **#1**. Congratulations! 
##### Evaluation of your UA score:

* You've built up a nice network.
* The readers appreciate your great work!
* Great user engagement! You rock!


**Feel free to join our [@steem-ua Discord server](https://discord.gg/KpBNYGz)**
πŸ‘  
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vote details (1)
@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/taskmaster4450__the-downside-to-having-a-face-to-a-crypto-project.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@yabapmatt ·
$0.03
Well, first of all, Ned is still the CEO and is in complete control of everything that happens at Steemit, Inc. Second of all, Ned is also still the face of the Steem blockchain, and I would take Justin Sun over him any day. Unfortunately, even if Ned was totally out of the picture, he would likely still remain the face of the Steem blockchain for years to come, if not forever. 
πŸ‘  , ,
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@awesomianist ·
Isn't that just sad?

Posted using [Partiko Android](https://partiko.app/referral/awesomianist)
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@markkujantunen ·
By the way, is Ned the sole owner of Steemit, Inc? Has the ownership information ever even been published anywhere? Privately held corporations are not required by law.
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@yogajill · (edited)
😱Julian Assange β˜€οΈπŸ™β€ bitcoin & @taskmaster4450 on this afternoon #itsallgood even hugs from uncle gary on this fine day. 

![20190726_165943.jpg](https://cdn.steemitimages.com/DQmYGYuUcsdaxeAKCsqoAPBdKhKGEXqdLNTQX6vSZHAaRMN/20190726_165943.jpg)
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