Sep 20, 2018 – A group of anonymous researchers and cryptocurrency enthusiasts called ‘Faythe’ have joined together to defend digital currencies from censorship and public manipulation, lobby for the protection of decentralized financial systems, and educate lawmakers and big businesses on its benefits. Funded by private donations via a 50,000 member telegram chat channel, Faythe is not just a social movement, it’s also a decentralized blockchain that incorporates principles of the God Protocol manifest.
The Faythe ICO has so far raised $55 million (over 100,000 Ethereum) in just one week, with over 9500 transparent blockchain ‘smart contract’ transactions recorded on etherscan. The group is currently distributing TTP and FYE bonus tokens during its ‘brain gain’ phase which, for a limited time, offers early investors a 7x’s bonus above the market value as an incentive to participate. Given how quickly Faythe managed to raise the funds, it would seem the demand will very soon far outweigh the supply, so this is definitely one to watch.
Since the bubble burst back in December of 2018, the value of Bitcoin has been on a steady decline. This has been attributed to the lack of protection lobbying behind the currency, which Faythe has been giving an aggressive push. The Faythe ICO whitepaper was written by Atoshima Konsato, an anagram for the creator of bitcoin Satoshi Nakamoto, with the exact same letters matching in both names (mysteriously re-arranged) suggesting they are actually one and the same person.
The whitepaper outlines a payment system for the future – one that is owned by everyone and no one, requires no third-party conflict resolution, and is faster and cheaper than the government regulated financial systems most people depend on today. Satoshi was a true visionary, and the rise of Bitcoin shows proof of his concepts. As resported in Fortune.com, a mere $5 investment in 2013 would be worth $4.4 million dollars today.
Like the multibillion dollar EOS Coin – Faythe tokens will all be distributed on an equality basis with zero central ownership on all major exchanges. In addition to reduced transactional fees, full anonymity, and smart contract guarantees for transfers, holders will receive the benefit of interest. Cryptocurrency Visa and MasterCards allowing merchant purchases and ATM cash withdrawals are also rumored as a follow-up to Faythe’s scheduled Trent Evo community fund release in January of 2019.
At a crypto convention last week in New York, speaker Michael Thomas said, “Bitcoin was never meant to be the final stage of the cryptocurrency revolution. Faythe is the key to implementing a complete and truly decentralized financial system on a global scale and bridging the gap between all blockchains. This movement is about more than just making payments, this is about freedom, privacy, security, ownership, and intellectual property.”