Steem Engine & Keychain are Transformational
View this post on Hive: Steem Engine & Keychain are Transformational
In mid-February 2020 Justin Sun acquired the shares in Steemit Inc and proceeded centralise the blockchain under his control, improperly using Steemit's founders stake (intended for development and decentralisation of the blockchain) and tricking exchanges into initially supporting his power grab.
After extensive efforts to resolve the dispute failed, the community revolted and formed a new, fully decentralised blockchain - Hive - without the pernicious influence of Justin Sun and his minions.
Because of Open Source licensing, Hive was legally able to duplicate all the code and content on Steem.
The vast majority of the community and decentralised applications and projects moved to Hive and Hive was listed on many cryptocurrency exchanges without having to pay the normal listing fees.
On 19 May 2020, a Steem hard fork (0.23) designed to steal the Steem from 65 accounts associated with creating Hive became public.
My position on this hard fork can be found here: https://peakd.com/hf23/@brianoflondon/letter-to-exchanges-do-not-run-steem-hard-fork-23-hf-0-23-0
This was the final straw for my involvement with Steem.
I will now post exclusively on Hive at https://peakd.com/@apshamilton/posts
All my old Steem content can also be found on Hive.
As I’ve posted about in detail here, @jpbliberty has decided to issue its SUFB tokens on Steem Engine.
These tokens embody a contractual right to a share in the damages of the multi-billion $ Class Action Against Facebook & Google’s Crypto Ad Ban.
I was just chatting to @brianoflondon about how amazing and transformational the easy ability to issue tokens like this is.
A SUFB token holder can easily see in their Steem Engine wallet how many tokens they have and how many are currently on issue and calculate their current share of the 25% of damages allocated to SUFB token holders.
With Steem Keychain it is so easy to handle your Steem cryptocurrency , tokens and Steem posting and gaming activity all in the one place.
Soon these tokens will be tradable on the various decentralized exchanges providing liquidity to litigation funding in a way that has never existed before.
It addresses the biggest problem with litigation funding - Court cases take a long and uncertain amount of time and your investment is locked up with no liquidity.
No more! SUFB tokens and tokens for future class actions will be tradable and people will be able to buy in and sell out as their needs require, with price reflecting prospects and status of the litigation.
I’m so pleased to be able to implement this on my favorite blockchain: Steem!
Thanks so much @aggroed, @yabapmatt @harpagon & @stoodkev for all your great work!
Posted using Partiko iOS
A very innovative approach indeed! Facilitating both the funding and the potential payout is a great way for transparency to prevail. It could certainly be a model to follow; thanks for sharing!
Posted using Partiko iOS
Thanks. Don't forget to sign up for the class action if you haven't already.
https://www.jpbliberty.com/class-member-signup
This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.
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