There are many creatives projects being made using blockchain technology today. One of these projects is XBounty, a decentralized platform whose objective is to create a safe environment for tipsters online. Today we are going to review this company so you can see if it is the type of project that will interest you.
What is XBounty?
XBounty is a decentralized blockchain project which was created with the objective of creating a safe environment for people who tip the society and the authorities about crimes and violations of the human’s rights that occur in the world.
With the motto of being the “Uber of the Anonymous information”, XBounty intends to create an environment that will not only protect people but also reward them for their behaviour when tipping about crimes and other types of misdemeanors.
XBounty states that witness protection programs are a failure and that even when governments spend so much money on them, they are inefficient and spend a big amount of the public money of the government. Reports from Mexico, the company states, prove that many witnesses were killed after a few years even with the help of these programs.
So why having this type of program when the blockchain technology offers a solution that could be cheaper and safer? That is why XBounty was created.
How Does XBounty Work?
The main goal of the XBounty project is to help disrupt criminal activity while protecting the users. Basically, the users of the company could use it to tip the society and the authorities about some criminal activity. The tip would have a serial number that would not be directly attached to the people that made the denouncement.
The tipster could have direct contact with the police without having to talk to them face to face. All the transactions would be made via smart contracts, so it would be perfectly safe for the tipster. If the tip leads to the arrest of criminals, the tipster may receive a bounty to reward him for his efforts in pursuing justice.
The use of smart contracts and blockchain technology is vital to the protection of these witnesses. While they may not have their statements legally used in the justice system (at least for now), they might end up helping the authorities to find leads that might help them to find criminals.
How to Invest in XBounty?
To help XBounty to come into existence and make a worthwhile investment, you can buy tokens from this company during the Initial Coin Offering (ICO). The company has decided that an amount of 88 million tokens will be the hard cap and that 40% of these tokens would be sold in the ICO. 40% of the tokens will be the reward for the tips and 20% will stay with the founders and advisors of the company.
The company has not yet released a specific date or price for its XBounty tokens, but you can be sure that our blog will update you on that as soon as we know more about this.
The xBOUNTY ICO Verdict
Is XBounty a great platform for you? That depends a bit on your intent while investing. If you planning to buy Xbounty tokens only for the return on investment, then you might have to think twice before doing that because this company does not really seem very aligned with commercial values in first place.
On the other hand, XBounty has an interesting idea that we have not seem in any other blockchain company. By rewarding tipsters and creating a market for this, the tokens may rise in value, so they turn into a better investment than they might have looked at first glance.
If you are interested in the platform, then we can safely assure that investing in this company can be a good idea. The XBounty seem experienced and really enthusiastic about their own project, so this is a great sign. Also, if you have a tip, this company could also be great for you.
In the end, you have to think if investing in XBounty is something that you would want to do. We assure that you will not be throwing your investment away if invest in XBounty.