Tuesday, October 28, 2014

GAW's HashCoin Pre-Announcement

GAW's CEO Josh Garza noted a few weeks back that they were working to create a new coin, but other than that there wasn't much information to go off of. Now, Josh has spilled the beans (or at least, some of them) and while there's definitely some hyperbole it does sound promising. We don't know much about the algorithm(s) behind the coin, but it does have a name: HashCoin. It also has a faux-credit card to go with it, apparently:
There's little to say about whether or not the credit card will be widely accepted, so let's just pass on that for now and assume it's mostly a way to drum up hype and support. More importantly is the discussion of what has been going on in preparation for HashCoin:
HashCoin is what we've been working on for months, under Project Prime. It is, I’m confident to say, the single biggest advancement for cryptocurrency since the original Bitcoin white paper. We are working with some of the largest brands in the world. And, we will serve it up with HashBase. It is the base of the system. It will bring mining, coin management, blockchain explorer, community, and purchasing together.

HashBase will allow you to mine a coin, search for a product, see search results from Target/Walmart/Amazon/Macy’s, and buy on the spot. A few days later, the product shows up at your door. And, in case you’re all wondering. We are having an ICO very soon. Our initial ICO round will happen in the next 2-3 weeks. Our minimum investment floor is 1 million USD, and the line of investors and banks is forming.
Okay, there's still not a lot to go on right now, but GAW does have the potential to back an IPO/ICO-style coin with some serious money and power, and we could finally see some form of PoW/PoS coin that does end up being a giant scam/failure. There's a separate part to this announcement that goes into more detail on HashPoints if you're interested.

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