That is the "genius" behind IOTA or even Ripple. Once you discover that you can publish just a symbol to trade no matter what is behind (beyond a curated story) it is very tempting to start your own cryptoasset, even if the crypto aspect is empty. Just imagine what can happen if you can list your symbol in the NYSE or Nasdaq just putting a database behind.
Re:Blockchain Is a Semantic Wasteland
by andrewflnr on Sunday October 21, 2018 @01:12PM
(#18268928)
It sounds like in-game currency without the actual game.
Why dont they just use any SQL database? No one would be buying their coins if they didnt lie and glitter their Coordinator around with "the tangle" and "muh quantum safe crypto hash function which is broken by rookie level cryptoanalysis".