I think that the technology is interesting and useful. However, I think that the devs, by focusing on the exact wrong applications, are leading this project towards quickly being banned outright.
Encrypted files, gambling, secret coins?
From the secret network blog: “The Padlock application interacts with a customized version of the “secret vault” contract, empowering users to buy/sell access to encrypted files without a middleman.”
I cannot understand how the developers could think this is a good idea. It has very little practical utility and a LOT of potential for abuse. As an act of self-preservation, the community should ban this application and any like it from the network, and instead focus on other use cases.
What happened to the other use cases? Identity, medical records management, “Catalyst” algo trading, distributed token exchange
On the blog Guy writes:
“To reach trillions in value, we need meaningful retail and institutional adoption - and for that we need privacy.”
To put it bluntly, why would retail and institutional adopt a network ostensibly used for money laundering, illegal pornography, drug sales and other nefarious activities?
This cannot be compared to cash or bitcoin. If the secret network operates privately as advertised, then it is dead on arrival unless it’s functions and use cases are limited from the outset.
I assume that the goal of many is to make money off of holding scrt coins. How will you make a speculative return on a coin that is banned?