Once upon a time, an amateur college developer called Martti Malmi played a fundamental role in bitcoin’s early stages by being the only active developer working alongside Satoshi, and by actually being friends with the guy: Martti earned Satoshi’s trust enough to be given admin access to the website Bitcoin.org, besides he was accredited most of the updates in bitcoin’s second code release.
Well, that college boy is back, and he is here to stay by joining a team of developers launching a new cryptocurrency called AXE.
Combining Malmi’s “Identifi” online reputation system with a decentralized database system called GUN, Axe is actually addressing the long-craved objective of decentralizing the Web.
Plus, Malmi’s history in the cryptocurrency field should be enough to tease plenty of enthusiasts anyway!
After leaving Bitcoin, Malmi started “Identifi” in 2014, a project that sustained a decentralized architecture but didn’t include a cryptocurrency at first.
In the beginning, the brilliant developer meant for “Identifi” to be a project that should reduce the control web companies like Google and Facebook, later on, he figured that something else was needed, something that hadn’t been tried before and that a crypto token could incentivize its use. He quoted:
“Most of the giant online businesses, such as Google, Facebook, eBay or Airbnb are basically centralized indexes – searchable lists of stuff. If we want to disrupt them, we need decentralized indexing.” And that’s where GUN kicks in!
GUN, a project founded by Mark Nadal who happens to be the CEO of ERA as well, is known for using simple stick-figure comics to explain how its technology works, scored a $1.5 million round led by Draper Associates earlier this year and has already built a decentralized Reddit and YouTube.
But even though Malmi is about to start a new cryptocurrency project, he’s still leery of the promise of blockchain technology as it’s been promoted lately:
“Blockchain technology is overhyped and pushed for applications where it is not useful,” he said. “If you don’t need a distributed ledger with no trusted parties, you don’t need a blockchain.”
However, he believes ERA to be “different”, as it’s implementing cryptocurrency into a decentralized web in the “right” way. “Crypto should be given credit for incentivizing the decentralization of infrastructure,” Malmi continued.
But even if most of the apps built using GUN today are not nearly as large as the companies they hope to replace. Still, they believe that the project could go beyond that as much as they believe decentralization is the way of the future.
“I believe that decentralization of digital identity and other basic infrastructure of our society are the some of the most meaningful things a developer can work on these days,” Malmi said