Crypto Industry Consortium Launches Self-Policing Program

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ECoinmerce, a DAO ecommerce platform, has announced the initiation of the Crypto Community Watch program, in partnership with a consortium of cryptos business organizations such as ICO Alert, GZH, Step VC and NewEconomies. The most important purpose of the program is to create an anonymous tip line and a whistleblower reward mechanism to cope with the issue of cryptocurrency hackers and scammers. The program intends to create a community inside the crypto world that shares details about crypto bad actors while laying the foundation for effective punishment by law enforcement. The program expects to make a sufficient deterrent for cryptography offense, while rewarding people who develop with beneficial info toward this objective.

Discussing with Bitcoin Magazine on the significance of the application, ECoinmerce COO Rex Chen said he is optimistic about the prospects of the program, but believes getting widespread buy-in and adoption, is critical. The crypto scene revolves around cooperation, open source, transparency, etc., and that is an expansion of that. Most of us complain about FUD and warn each other about the risks in the area, but very little is in fact being done about the hazards of scams, hacks, etc. If people can collaborate yourself they collaborate on Github while coding, the respecting exactly the same manner they collaborate on Github while coding, the business will get far better as a whole regarding outing hackers, hackers, etc., rdquo, The a Google Document, with just a bitcoin wallet address and no identifying information 3rd party pocket.

The group claims that tips about deceptive or illegal action are completely anonymous and may be filed through a Google Document, with only a bitcoin wallet address and no identifying information asked. In case the info provided leads to successful prosecution, the whistleblower receives a bitcoin reward in their wallet. Measures will be taken to ensure that the mechanisms used for reporting and investigation aren’t abused. Chen says benefits will not automatically be given to whistleblowers who just provide information. Once tips are filed, they’ll be investigated by numerous members of the Crypto Community Watch application for credibility.

In addition, Chen emphasizes that reported companies or people are innocent until proven guilty. ,The application to bring legal actions against bad actors officers who’ve the capability to bring legal actions against bad actors at the crypto area. Through a Github design collaborative effort, it’s estimated that the business will get better in outing hackers, hackers along with other undesirable elements. Most law enforcement agencies have their own tip lines and email addresses, says Chen. What they lack is incentive. Whistleblowers place themselves in harm’s way, fiscally.

Therefore, kind of behaviour tap on the back. ,For transparency, all anonymous advice are all web site.

Sources:
bitcoinmagazine.com
ECoinmerce
Crypto Community Watch program
anonymous tip line
wallet
Google Document
program’s website

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