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Adam Back: Some ICOs Funded Useful Research Despite Being Unethical

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imageCryptocurrency14 hours ago (Aug 07, 2020 08:40PM ET)

Adam Back: Some ICOs Funded Useful Research Despite Being Unethical

Adam Back recently took to Twitter with controversial comments on many of the industry’s largest crypto projects — including Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Stellar (XML). His tweets placed these projects in the same category as a number of bonafide scams, which he considers to have been orchestrated as “premines”.

We interviewed Back in order to clarify his position on the matter, starting with questions of how he feels about Satoshi Nakamoto essentially premining over one million Bitcoin. Back responded that “Bitcoin has no premine”, adding that he considers Patoshi research to be “highly speculative”. However, he agreed that Satoshi was able to amass a large amount of Bitcoin in the early days when the mining difficulty was low:

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Adam Back: Some ICOs Funded Useful Research Despite Being Unethical

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