Is Utopia P2P a Cryptocurrency Project?
When an industry or market is in the very early stages of development, there is a rush to capitalize on new opportunities. With every signal of increased market potential, there is a surge of investment and development seeking to capitalize on that potential. In the cryptocurrency industry, the price of Bitcoin has traditionally been that indicator. In Bitcoin’s 11 year history, with every market bull run, a surge has followed. The surge of development has not always been positive for the industry. In fact, it can be argued that much of the development that has come about, especially in the latter years, has been detrimental to the industry and to popular perceptions. This is partly due to the ease with which new startups can create a copycat digital currency, compose a whitepaper and draw up a project roadmap.
If you want to judge whether a project team is driven by purpose or greed, look to the reason for the new coin’s existence. Is it essential to the achievement of a wider goal, does the coin effectively facilitate the project’s purpose, or is the goal the coin itself without an identifiable and differentiated purpose besides the enrichment of the project team itself? Clues that a project team may be motivated by greed rather than purpose include the selling of coins that are promised in the future (Conducting an ICO), the allocation of coins to the team itself (Self-serving Distribution), more work promised in the future than has actually been delivered in the past (Fanciful Roadmap ahead with almost nothing behind), retaining the power to stop or reverse network transactions (absence of true decentralization).
Let us now examine the 1984 Group in the context of those clues. The team began their project in secret back in 2013. In 2017 and 2018, when the greed was palpable in the industry and the temptation for self-enrichment by conducting an ICO was at a peak, what did the team do? They continued working diligently in secret until 2019, when rather than conduct an ICO to collect funds, they conducted a beta test and paid out tens of thousands of dollars to users for their help in refining the client software. After launching the mainnet on November 18th 2019, the distribution was fixed with 100% of new coins going to miners. All transactions on the network are final and cannot be reversed, they are immutable with no central authority retaining the power to alter that reality.
Utopia is a project unlike any other in the industry. There is a good reason why the 1984 Group’s efforts are not referred to as the “Crypton Project”, because Crypton is not the goal but rather an associated instrument that helps facilitate the wider and far more important goals of the Utopia project itself; the creation of a new kind of internet. Utopia’s P2P ecosystem seeks to redefine the way in which users around the world interact and communicate with each other. Utopia seeks to make encrypted e-mail, which was previously only available to the most technically sophisticated of users, available to the masses. Utopia seeks to make private instant messaging, which is promised by WhatsApp and Telegram as long as you give them your phone number, an actual reality. Utopia seeks to make group chats, forums and feeds available in an encrypted and private form. Utopia seeks to enable P2P file sharing without the constant threat of surveillance or takedowns. Utopia seeks to make permissionless, censorship resistant websites possible without relying on centralized indexing of those sites. Utopia seeks to accomplish all of these goals on the same Peer-to-Peer platform with a fully integrated, private, native cryptocurrency that helps to facilitate the exchange of value and therefore trade and commerce across the network. It is a travesty to call Utopia simply a cryptocurrency project, because it is clear that Utopia P2P transcends the cryptocurrency industry, seeking to accomplish important and necessary goals far loftier than any other project in the space.
Originally Published By TheMerchant in TheMessage within the Utopia P2P Ecosystem in March of 2020. Upgrade your internet at https://u.is
