Faythe Lobbies EU Lawmakers on Crypto Currency
Faythe, the anonymous and decentralized movement, is lobbying lawmakers and politicians across all 28 EU member countries in an effort to protect cryptocurrency and blockchain adoption from being banned or regulated. The Faythe lobbyists seek to educate legislative bodies on the benefits of blockchain technology, the importance of attributing value to transactions, and the positive sides of social crowdfunding.
Faythe ( Telegram Channel: https://t.me/faythetalk ) has also floated its own token, TTP, on top of its Trent fund, all of which will be distributed to the Faythe community, and for early adopters, FYE is provided as a bonus and will also be exchangeable in the future to facilitate blockchain development.
The backlash against crypto-currencies and blockchain is in the making, and Faythe is fighting hard to protect the future. Laws are under development to curtain privacy and decentralization, while alternatives to be deployed will be centralized with the intent of regulating the blockchain.
Faythe is a movement based on a God Protocol with human trusted third parties where those parties provide insight or knowledge that cannot be provided by a computer. The community members communicate over the Faythe Alpha Net, and a Trend EVO blockchain is under development, to be released early 2019. Post this, the TTP tokens can be exchanged for FYE tokens to support blockchain developers. A total of 21M FYE coins will be generated, all going towards the community. The movement has till date raised over $140,000 in funds.
Faythe recently gained the attention of lawmakers, investors and the crypto community for its advocacy of crowdfunding and blockchain. Support promptly poured in from all sides, especially from Ben Givon, a Bitcoin-Review.co staff writer, who donated $50,000 to the lobbying efforts of Faythe.io. According to Ben, crowdfunding is not about buying company shares or equity, but financing great ideas and helping developers. Crowdfunding initiatives have till date raised over $50 billion on various sites, with millions of financial backers. A ban would obviously affect jobs, ruin careers and thwart growth.
The upcoming Faythe initiatives will take place in three stages: Prime Movers, Brain Gain and Streaking. Alpha Net staff and operators are not allowed to deal with TTP tokens, which go towards the Trend EVO development group in order to establish community control. The FYE coin funds will be utilized to lobby, advise and incentivize cryptocurrency lawmakers to benefit the community, protect human rights of freedom, privacy, security and ownership, as well as intellectual property rights. The Faythe EVO God protocol will aim at bridging independent blockchains using Faythe EVO2.
Lawmakers and officials are certainly obvious of the advantages of cryptocurrencies. The recent address by attorney Jonathan Siennicki at the Las Vegas Cryptocurrency convention held in January 2018 acknowledges this, pointing out that digital tokens do not carry expiration dates and appreciate in value, unlike food coupons. Crypto community members must, therefore, carry on the fight to reveal the many advantages of blockchain and smart contracts, and lobby for favorable laws and regulations globally.
“The notion that we can just fade into crypto and ignore the unpleasant political realities is unrealistic. We are in a race between our ability to build and deploy technology, and their ability to build and deploy laws and restrictions. The possibility of anonymous transactions is vital for an open society. Withdrawing into technology is like pulling the blankets over our heads. It feels good for a while, until reality catches up. We must obtain the security needed to protect our goal, ourselves and our future,” says a spokesperson from Faythe.
Faythe actions are donor-funded, and contributions are being accepted via Ethereum smart contract in the form of ERC20 tokens. The supporters and funds raised will lay the foundation for future work, and early donors will receive FYE tokens as rewards. TTP and the FYE tokens will also be listed on exchanges after the main funding period.
Cryptocurrencies are on their way to create the Fifth Protocol, and are perceived as a threat to the status quo, disproportionate power allocation and the large organizations. Faythe is here to promote the notion that cryptocurrencies should not be stripped of their value and character that is superior to traditional modes of fiat currency exchange.
“We are an anonymous decentralized movement created to defend the cryptocurrency community. We have worked hard on developing Faythe Alpha Net – the first operational god protocol. Our goal is to fight cryptocurrency censorship, public manipulation and corporations forcing governments to protect them against decentralization. Faythe is funded by the people and represents the people. Our work will ensure that our rights and freedoms are enhanced and protected by law.” – https://www.faythe.io