SoylentNews

aristarchus [soylentnews.org] writes:

From the very Richest Forbes Magazine [forbes.com] come news of a nefarious plot.

There’s no better example of the power, and the terror, inspired by blockchain than Gab.com, the social network used by the accused Pittsburgh synagogue gunman to threaten Jews.

About a month and a half before the alleged gunman made good on those threats by opening fire in a Pittsburgh synagogue and killing 11 people, Gab submitted paperwork to the U.S. Securities and Exchange Commission [sec.gov] to raise $10 million via an initial coin offering (ICO). The offering, dated September 18, 2018, has so far received commitments to raise $5.6 million in capital for the “free speech” social network, which is a favorite of white supremacists, neo-Nazis and other members of the “alt-right.”

Since the shooting on Saturday, Gab has been shut down by a host of mainstream services including payment processors Stripe and Paypal, Web-hosting company Joyent and briefly, domain registry GoDaddy. But that might not matter, because Gab has already taken the first step toward freeing itself from dependence on traditional infrastructure and support mechanisms, thanks to its funding via the ethereum blockchain. Ultimately Gab’s goal is to build an entire ecosystem beyond the reach of centralized authorities—whether Facebook, Twitter or venture capitalists—making it nearly indestructible. On this, the tenth anniversary of the publication of Satoshi Nakamoto’s whitepaper, which gave birth to bitcoin, Gab epitomizes the darker consequences of his vision.

Nice work, if you can get it, and are not a Member of the Traditionalist Workers and Incest Party.

Original Submission