Ryan Selkis, the founder and CEO of a top research and news platform, Messari Crypto, has expressed his disappointment toward the lack of transparency displayed by some 10 top blockchain projects.
Expressing his discontentment, Ryan highlighted Tron, Stellar, Litecoin and Ripple, among 6 other projects that lack engagement on the transparency front.
Other blockchain projects include; Ethereum, EOS’ Block One, Binance, Chainlink, Tezos and Tether/Biftnex.
“I’m frustrated by the lack of engagement on the transparency front by the top 10 projects in the space”, Ryan Selkis stated.
Also known as TwoBitIdiot, Selkis noted that the projects are only fond of talks with no action.
The erstwhile managing director at CoinDesk said for transparency purpose, it is important for investors and stakeholders to be abreast of how projects’ treasuries and governance is been handled.
Selkis said without this, blockchain and cryptocurrency won’t be better than the system it claims to replace.
How these teams manage treasuries and coordinate communications/ governance is important for investors / stakeholders.
Will we ever be able to create a single source of truth and be *better* than the system we aim to replace?
Or will we cower to obfuscation by default?
— Ryan Selkis (@twobitidiot) December 18, 2019
The former Director of Investments at Digital Currency Group concluded that the transparency the industry needs to progress is not rocket science.
Honestly I’m not sure anyone cares, but I’d rather call these teams out in bulk because what the industry needs for transparency isn’t rocket science.
It’s not even proprietary or sensitive info. Just common sense, timely disclosures.
— Ryan Selkis (@twobitidiot) December 18, 2019
The allegation afterward erupted responses from some leaders in the blockchain industry.
The CEO of Chiliz blockchain project, Alexandre Dreyfus, displayed ignorance towards the message while responding to Selkis.
Dreyfus said: “what transparency do you need?”
Changpeng Zhao, the CEO of Binance also seconded Dreyfus, revealing that he’s also confused by the agitation of the Messari Crypto CEO.
Honestly I’m not sure anyone cares, but I’d rather call these teams out in bulk because what the industry needs for transparency isn’t rocket science.
It’s not even proprietary or sensitive info. Just common sense, timely disclosures.
— Ryan Selkis (@twobitidiot) December 18, 2019
Ryan Selkis and his platform, Messari Crypto, became popular in the blockchain space after pioneering the excavation of the Mt Gox bankruptcy story in 2014. Since then, the platform has been progressing.
