What benefits does CoinJanitor bring to the crypto industry?
Introduction
Yesterday I started a series of articles about CoinJanitor, where it was explained the fact that the goal of this company is to recycle code and data from dead crypto projects, and bring that value back to the market so other people, such as other developers and students, can use these creations as they see fit.
CoinJanitor realizes that simply because a project ended up failing that doesn’t mean it is completely worthless, so they designed a method to assess dead crypto projects, to hopefully find some of them that have value, and eventually proceed to make the necessary arrangements with the final goal of allowing the entire crypto community to have access to a giant library with all sort of open source code that anyone can use for their own project and research activities.
In today’s article, the main topic will be the specific benefits that a project like CoinJanitor can bring to the crypto community, because with an idea such as this one, even people who aren’t directly involved with CoinJanitor or any of the projects that are purchased by this company will also benefit in the end.
Benefits for JAN tokens holders
As I explained in a previous article, CoinJanitor’s tokens are called JAN, and when the team decides to acquire a dead crypto project, the transaction is done using these tokens that can later on be traded with any major cryptocurrency like Bitcoin or Ethereum.
Given the fact CoinJanitor is probably the only project that is planning to recover trapped value from failed crypto projects, there is a real chance for this token to have a high demand coming from the market, besides, by taking charge of these dead projects it is very likely those communities will get interested in CoinJanitor and in how to get involved with it, since the more projects are acquired the bigger and more valuable the CoinJanitor’s open source library will get, it can create a snowball effect that will surely attract people’s attention.
Benefits for holders of dead crypto projects
When a crypto projects fails, it is just a matter of time for its token to become untradable because no exchange will accept it, when this happens every person that ended up holding these tokens is almost certainly facing a total loss. The exception would be if that project happens to be of interest to CoinJanitor and a total purchase is arranged between all of the involved parties.
The benefits for these users are very clear, instead of suffering from a total loss after their project completely failed, they can now recover a part of the value by selling all of the valuable assets to CoinJanitor, and besides the JAN tokens they will receive in exchange of the failed project, they will also have the opportunity to become part of the new and thriving community that CoinJanitor is creating, so it could be seen as 2 benefits, the monetary one in the form of the tokens and then the value that an active and growing community represents.
Benefits for the entire crypto market
Letting valuable code and assets go to waste doesn’t benefit anyone, it is a loss that affects not only the people directly involved, but also the entire market because a small part of its members invested hours in creating something that despite having value, is currently unused and unrecognized by the market. Having valuable assets trapped in dead projects prevents the entire industry from actually achieving its real potential.
CoinJanitor is capable of releasing this value and bringing it back to the market, in such a way, that literally everyone interested will be able to have access to any valuable asset that was acquired by CoinJanitor, the result of this will be starting from a situation where there is trapped value in a dead project, and ending with a situation where this value is freely available to any individual or institution that wishes to use it for professional or educative purposes.
Benefits for project creators
All project creators, both those from CoinJanitor and other different projects, will have a lot of available assets they will be able to freely use, and as CoinJanitor acquires more and more failed projects, the number of available assets will also increase, which means that as time goes on, there will be higher chance for projects owners to find something of value in the assets that were recovered thanks to CoinJanitor.
The ultimate goal is to make this library one of the most important ones for crypto projects and to show the entire industry what is the best way to deal with the coins that ended up in failure despite having something of value in them, this is clearly a dynamic that can only strengthen the entire community, and as I mentioned in the previous article, there is literally no loser in recovering value this way.
Conclusion
CoinJanitor is a project that can recover trapped value in crypto projects that were unable to achieve success and whose tokens ended up being worthless, and by recovering this value, CoinJanitor can bring benefits to the entire market by taking care of all of the arrangements to release every single valuable asset to the entire crypto community, with the hopes of having other teams finding something useful to do with said assets.
It is good to know there are teams doing their best to make sure no valuable creation is lost in the crypto market, and I think everyone who knows about this project is hoping for it to become very successful, with a strong community in constant growth.
More information about this project can be found in the following links:
· Project Website: https://www.coinjanitor.io/
· Products & Services: https://www.coinjanitor.io/#how-it-works
· Link to a press release: https://www.trustnodes.com/2018/04/27/press-release-coinjanitor-project-charge-cleaning-cryptocurrency-markets-dead-coins
· Next event: https://www.decentralized.com
· Facebook: https://www.facebook.com/CoinJanitor-201490483964845/
· Medium: https://medium.com/@CoinJanitor
· Twitter: https://twitter.com/CoinJanitor
DISCLAIMER
The information contained within this post shall not be taken as a financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.
Wow this is really interesting... So many projects out there that have hit a wall, this could be a very valuable thing, to condense all that in the market.
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Indeed, there are a lot of them, the team at CoinJanitor certainly have a lot of work to do :)