Why anonymous teams are important in Decentralized Ecosystems
In the past, new founders of startups used to have no qualms about placing their names as founders. Not that they had a choice to begin with as it was a mandatory thing to do at the time. According to the law, most governments need a recognized chairman whenever a startup is being registered so that if something goes wrong…or if congratulations were to be sent, they know who to turn to. With the crypto revolution, however, everything has changed.
The cryptocurrency sector is no stranger to anonymity. There have always been developers and creators who would rather keep their identities hidden while exploring the cryptocurrency sector. A notable example is Bitcoin and its creator, Satoshi Nakamoto.
There are quite a lot of Decentralized projects that have anonymous teams, this was previously considered a no-go area because of the different scams associated with anonymous teams but as Decentralized Ecosystems continue to grow, innovative technologies have been introduced to curb this defect. Blockchain securities like SolidProof and Certik provide transparent audits and KYCs, so that enthusiasts can verify the validity of projects before venturing/promoting them.
In reality, if you can verify all of a team’s work, there’s no reason to distrust them. DeFi platforms are fully accessible and transparent so thorough research on their smart contracts can be carried out to verify its authenticity and check for significant concetheml.
One significant benefit having an anonymous team on a Decentralized project is that it encourages enthusiasts of that project to concentrate on the ecosystem and technology rather than the founders’ reputations. Anonymous teams on Decentralized platforms gives more power to the community of the project, so, if the team that started the project decides to step down, the project can still run on its own. Furthermore, it allows for complete decentralization while also limiting the number of ways it may be shut down.
WallStreetNinja is an example of an anonymous Decentralized project. WallStreetNinja aims to establish a totally decentralized project, for this reason, the team chose to remain anonymous. As a result, its community members and token holders will have a say in the ecosystems future.
To demonstrate the legitimacy of the WallStreetNinja project, the team has taken the initiative to undertake KYC via one of the most reputable Blockchain-based security, SolidProof.
As one of the safeguards against fraudulent participants on WallStreetNinja, SolidProof offers Know Your Customer solutions. The KYC procedure relies around determining the customer’s identity, as its name suggests.
Also, SolidProof can determine the nature of WallStreetNinja’s activities, the legitimacy of their finances, and examine money laundering threats that may arise in the case of a user.
The WallStreetNinja team will also collaborate SolidProof to ensure that the flaws identified are adequately addressed and the necessary precautions are taken.
Lastly, WallStreetNinja received an audit report from SolidProof which included a certificate of authenticity and additional promotional contents.
WallStreetNinja
WallStreetNinja (WSN) provides users simplified access to a decentralized ecosystem’s chain of their choice from a single web app. WSN is taking the self custody wallet segment to the next level through decentralized computing and blockchain relays.
Follow WallStreetNinja’s developments on: Website
