New projects relating to cryptocurrencies, blockchain or decentralized technology, in general, make the rounds nearly every week. Although most are intriguing, the sheer volume of blockchain-related startups means that it becomes virtually impossible to cover them all.
However, a new cryptocurrency dubbed ”AXE”, launched by the company ERA might be worth reporting on – due to including the experienced Bitcoin coder Martti ”Sirius” Malmi.
For those who are unaware of who Malmi is, he was the second-ever developer who worked on Bitcoin. This means that Malmi worked alongside Bitcoin’s legendary creator Satoshi Nakamoto, and sources say that Malmi and Satoshi even became friends.
The majority of the changes in Bitcoin’s second code release are attributed to Malmi, and he was granted admin privileges to the bitcoin.org website by Satoshi.
Since then, however, Malmi has left Bitcoin, citing that ”Bitcoin had already gone from zero to one”, and that the cryptocurrency was ”up and running with a growing community”, with ”lots of great developers working on it”.
Following his departure from Bitcoin, Malmi founded Identifi – a venture which aimed to reduce the control wielded by Internet behemoths such as Facebook and Google.
Nonetheless, Malmi has since then decided that more is needed in order to fully realize this vision of challenging Facebook and Google. As such, Infinity and the company GUN has since joined forces to launch the new company ”ERA”.
Moreover, ERA will employ the use of cryptocurrency tokens in order to incentive the use of the platform. The cryptocurrency tokens will be named ”AXE” and will be used in offering a ”digital reputation system”.
Despite being a long-time blockchain developer and about to launch a brand new cryptocurrency project, Malmi is said to be skeptical about the recent headlines made about the potential of blockchain technology.
According to Malmi, ”blockchain technology is overhyped and pushed for applications where it is not useful”.
Malmi’s comments certainly hold some credence, as blockchain technology is heralded by many firms as a way to modernize their operations, without having concrete action plans in place for how this should be achieved or even why.
Moreover, apps built on a decentralized foundation using GUN are admittedly not as big as Facebook, Google, or other established internet behemoths.
Nonetheless, Malmi is said to hold high hopes that his latest venture might one day exceed even such actors – mainly fueled by the continued adoption of decentralized technologies.
Malmi also stressed that it is better to try and bring about profound change rather than do what comes easy, stating that ”one of the things I learned is that it is better to do what is meaningful, not what is expedient”.
Image Source: “Youtube”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.