Sunday, March 26, 2023

The cryptocurrency sector is overflowing with dead projects By Cointelegraph


The cryptocurrency sector is overflowing with dead projects

In 2017, when everything concerned with cryptocurrency and blockchain still looked fresh and interesting, it seemed that there would be no day without a new “revolutionary” project or idea. Decentralized financial system, decentralized torrent tracker, decentralized office documentation system. Decentralized, decentralized, decentralized.

The overuse of terms like “transparent,” “distributed” and “blockchain-based” soon made most press papers look generic. The closer we got to the peak of the price at the end of 2017, the more absurd the names of new projects became: “Ethereum-based payment system for slaughterhouse industry workers,” “decentralized blockchain-based dwarf horse breeding platform,” “peer-to-peer personal banking service for divorced blind people,” and so on.

Bert Kozma is a writer and an associate editor at Previously a sales and marketing expert, he has been an author covering cryptocurrency and financial markets for the last decade. He holds a bachelor’s degree in international business from Saimaa University of Applied Sciences.