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But fear not, the project moves forward!

After careful deliberation we have decided against proceeding with our previously advertised IEO. There are two main reasons that have led us to this decision. Firstly; a lack of faith in the IEO market. We undertook fairly comprehensive analysis of IEOs and the various launchpads available and as you know, decided on working with Coineal. After announcing this decision, facts came to light about the world of IEOs and we subsequently lost a fair amount of faith in what they can do for projects and investors.

At the same time our private sales strategy started to deliver some very promising opportunities, these opportunities have continued to develop and grow. These private sales opportunities would present a more stable and secure option for Neutro whilst not exposing investors to the same volatility as IEOs. This more secure and trustworthy option means faster development of the Neutro Protocol, elevating it quicker to where we want it to be. …

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“Because no protocol should be an island”

Blockchain technology is an amazing feat, a trust-less system free from third parties. Yet any protocol that must interact with data from external sources is inherently not trust-less as these sources of data are invariably centralized and therefore at risk of, at best bias and error, and at worst censorship & corruption.

But what exactly do these oracles do?

Let’s say you’ve designed a blockchain protocol focused on football betting. Your protocol, as decentralized as it may or may not be, will need to know what the result of the matches are, who the scorers are, the time they scored etc. Well, to achieve this your protocol will have to “know” this data from somewhere. And here’s the downside; that data will be coming from a centralized source such as Opta-stats, ESPN etc. This fundamentally undermines the decentralized nature of the DLT technology as you now require a trusted third party to let you know how Tottenham Hotspur fared against Ajax. Well, your whole protocol is in the hands of that “trusted” third party, as the protocol is only as good as the data being fed into it. What if there is an error on the part of that third party? What if an individual within that organisation wants to manipulate your gambling protocol for their own gain, telling the protocol goals have been scored when they haven’t etc? …

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In an era when digital privacy is being constantly eroded and most people appear in countless data profiles across the web, anonymity is becoming a greater and greater cause of concern. The cynical in the world will mount their high-horses and point to all the illegal activity that anonymity in blockchain facilitates, but as we will discover this kind of activity is not new to blockchain or cryptocurrencies.

Bitcoin in particular is often accused of being the primary payment method for drug dealers, human traffickers, money launderers, terrorists and every other criminal enterprise that exists. The fact of the matter is that the almighty dollar is still the medium of choice for those that operate in the shadows. …

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