John McAfee’s crypto project GHOST Token has announced that it will soon introduce crowdfunding for its users. It further said that crowdfunding will maintain complete anonymity and decentralization and that anyone will be able to use the feature for any reason, purpose, idea, business, etc.
Decentralized Crowdfunding is coming to $GHOST
Pretty soon you will be able to start a crowdfund campaign completely anonymous and decentralized for any purpose, reason, idea and more.
— GhostbyMcAfee (@GhostbyMcAfee) June 29, 2020
The feature will be available via ghostfundme.com and will go live in July. Creator of the GHOST Token and anti-virus pioneer John McAfee said in a tweet that none will be able to control or censor it. He also added that even criminals will be able to use it, citing his earlier argument that they also use cars, phones, internet, etc.
No-one is able to control it or censor it. If you are afraid to be offended, or otherwise disturbed, don’t use it.
Will it be used by criminals? Of course! Just like cars are used to help rob banks, or phones are used by drug lords to schedule shipments. https://t.co/5Rdyx4DnJP
— John McAfee (@officialmcafee) June 30, 2020
Crowdfunding is a modern method adopted by start-ups and small enterprises to fund their operations. Anyone who finds the idea or cause plausible can donate to fund the campaign. However, with GHOST’s anonymous and decentralized crowdfunding mechanism, contributors can be assured that no one can see their names or the amount they donated.
Once the feature goes live, it will expectedly spark a debate as to where should the line be drawn. As McAfee himself said that criminals will also be able to use it, should it be allowed to go uncensored? Should it be regulated? Should such platforms be legitimized in the first place?
There is no black and white rule about it, at least not yet. McAfee is not wrong when he says that robbers use fast cars to rob banks, and drug peddlers use phones, and therefore, technological innovations cannot be discouraged. Regulation could break this crux, but it will kill the ethos of decentralization. Undoubtedly, the world needs a financial system free from the clutches of the elite, no matter the price. But is terror funding a much bigger price to pay than such a system’s worth? It’s a question the community needs to ask itself.