The CEO of Arkham, a platform that allows users to earn tokens by revealing the identities behind their crypto addresses, defended his project amid a wave of criticism.
Arkham CEO Miguel Morel argued on Twitter on Tuesday that his platform does not violate anyone's privacy, but instead exposes the lack of anonymity on public blockchains.
“Public blockchains are probably the worst possible way to keep one's private information private,” Morel said.
Arkham's program, called “DOX-to-Earn” by critics, allows anyone to designate “bounties”, which are rewards for those who can reveal and share the identities behind a given crypto address.
Morel claimed that his platform is not aimed at casual users, but rather at traders, hedge funds, and other organizations that could benefit from knowing who is behind major crypto transactions.
“Arkham's main client is traders. Hedge funds. People who make money from information about who is buying and selling large positions of a particular token,” he said.
Morel also said that Arkham will not accept or approve any awards or labels that are irrelevant, false or malicious. He said the platform will have clear rules and guidelines for moderation, which will eventually be decentralized to the community.
“We will explain everything and it will all be in writing in the coming days,” he said.
*Not investment advice.
