Google's Crypto Ad Ban Triggers Game-Changing ICO
This is according to London-based crypto start-up, ChitChain, who launched their pre-whitelist ICO today in response to the ban – unsurprisingly, with no Google or Facebook ad support.
The company's game-changing Web 3.0 tech is designed to directly challenge the restrictive practices of large Web 2.0 communications firms, including Google, Facebook, etc.
The ChitChain community sees these practices as attempted power grabs and downright bullying masquerading as regulation for the public good.
ChitChain Co-founder, Rich James, thinks this move by Google and Facebook is actually good news for the future of crypto and the web. James says:
"By specifically targeting and banning crypto/ICO ads, while not tackling with equal vigour fake news, exploitative and inappropriate content, etc, these firms have – unfortunately for them – shown the world their true colours. In the wake of this ban, our community persuaded us to go to ICO sooner rather than later to reverse this onward march to hyper centralisation and wholesale censorship. Oops."
James, along with many crypto enthusiasts, points out that it's more than a little convenient these firms have suddenly developed an ethical streak as regards ICO ads. It took an investigation by Senate and House intelligence committees to force Facebook to do something about charges of Facebook ads being used for US election tampering. Yet it is suddenly crypto tokens and ICOs – the ad revenue for which is worth $25 million a year to Google – that are keeping their CEOs awake at night.
James says no one is buying their self-serving moralising – or that of the legislators Google is trying to stay ahead of – any longer.
After all, these firms stand to lose a lot more than ad revenue, once regulators start breathing down their necks.
ChitChain supporters are voting in overwhelming agreement with their digital wallets. They believe the company's tech will remove the need for all forms of centralised regulation due to the platform supporting trustless, peer-regulated communications and fundraising on Blockchain.
"Bottom line: any form of centralised regulation is manipulation. Period. This ban – and the mostly blithe acceptance of it, even amongst the ICO community – was the final straw for us and our supporters. People need to be served, not exploited, by these big communications companies."
ChitChain plans to deploy their platform 6-8 months post-ICO.
10% of the company's ICO crypto tokens, Chitcoin (CHC), have been set aside (at pre-sale bonuses) for early investors with an eye on projected post-ICO returns of 120% in the first two quarters.