The ban of ICO advertising will help projects on blockchain
The South Korean, Chinese and Russian associations of cryptocurrencies are going to file a class action suit against Google, Facebook, Twitter and Yandex for forbidding advertising ICOs on their platforms.
It is not surprising that it was the representatives of these countries who were indignant at the policy of the companies. Most of all the projects launching ICOs come from Russia, South Korea and China, therefore the ban was especially painful for them.
The representatives of these associations are going to file a class action suit in May (in June, if you remember, Google`s ban on advertising ICOs is going to be enacted).
According to the president of RACAB Yuri Pripachkin, the action will be submitted in the American jurisdiction through the Euroasian association of cryptocurrencies and blockchain.
What especially revolted the members of the cryptocurrency community was the position of Twitter — the company has banned advertising ICOs on its site and simultaneously announced the release of its own cryptocurrency. By the way, Google too is now working on the creation of a cloud technology on blockchain.
Formally the prohibition of advertising ICOs is connected with a considerable number of scam projects. But these statements do not inspire trust.
The War For Internet Supremacy
The current events show the helplessness of companies before corporations like Google, Facebook and Twitter which have literally monopolized the Internet. One of the founders of the World Wide Web Timothy John Berners-Lee wrote about this earlier. In his open letter he says that in the near future the development of technologies will not proceed at such a high rate as before, because now the control over the Internet belongs to several large monopolistic corporations.
On the other hand, the decentralized technology of blockchain can offer a way out of this vicious circle. Only a little is left to be done — develop a high-quality search engine on blockchain which can win recognition among millions of Internet users.
Last year the project BitClave, offering a search engine on blockchain, managed to collect more than 25 million dollars. It`s just that their product is intended for investors and ICO projects, that is it will not become a mass product like Google. By now the guys have prepared a demo, and it is unclear if they will launch a final version.
One more similar project which successfully completed an ICO in 2017 is Presearch. Now its closed beta version is ready. It will be available only after registration so it is impossible to estimate the team`s achievements.
In my opinion, the problem of many projects on blockchain is that they take too much interest in the ICO procedure to the detriment of their real products which could really facilitate life. Probably this is the reason why the ICO market is now undergoing serious changes. In this respect the policy of Google, Facebook and Twitter plays to the advantage of those projects on blockchain which create a serious product instead of playing marketing games.
And yes, I would be very glad to see a real working blockchain-based search engine.
Follow the FairWin project! We have almost finished the development of a slot game on blockchain “Yggdrasil” and in a few days (I hope!) we can show it to you.
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