Slidebits Token Development Update

2018 in Retrospect

Guidelines Provided

At the beginning of 2019, I still believe there are potential benefits of using a centralized token deployed on a transparent blockchain as an incentive mechanism. The other option is to grow a network through traditional internet ads which are less liked by users and less effective than incentives for users. Using a token to reward gives you a better sense of entitlement and community. The SEC provided more clear guidelines in 2018, if a token primary use is funding that it will be deemed an illegal security. No Slidebits Tokens were used for funding in 2018, development funding was completely bootstrapped and the official token and iOS mobile wallet was able to be released. Slidebits strives to create a compliant next generation utility token/app coin.

Centralization Benefits

A major difference between the Slidebits Token and other cryptocurrencies like Bitcoin and Ethereum is the supply is controlled by a centralized entity. Issuing an app coin to help bootstrap a network in a permissionless way is a benefit of the Ethereum smart contract platform. The design allows for transparent financial activity and the ability to freeze accounts and mint new coins in case of hacks. It helps provides some level of insurance when you control the supply. A fallback in this approach the holders have to trust the designers of the coin and trust that they don’t become malicious.