CNBC reports that Wu-Tang Clan rapper Ghostface Killah has actually co-founded a cryptocurrency firm.Cream Capital announced Wednesday their plans to raise$30 million from their ICO which is due to be held in November. The business’s name was motivated by the 1993 hit for the rap group “C.R.E.A.M” which stands for “Cash Rules Everything Around Me.”Brett Westbrook, primary executive at
Cream Capital spoke about the referral: Although in this sense it stands for Crypto Rules Whatever Around Me which we have actually been approved a trademark by the USPTO (United States Patent and Hallmark Office ). The United States rapper isn’t the very first celeb to back a crypto-project.
Earlier this year, both Paris Hilton and Floyd Mayweather both got in the area support individual projects.However, Westbrook cautions that the impact stars wield could be unsafe for amateur investors. He insists that those attempting to obtain involved in blockchain business comprehend the protocol prior to offering any endorsement.I personally think that anything that puts cryptocurrencies in front of the eyes of everyday people is an excellent thing for the marketplaces in general.
On the other hand, I think it is essential that celebs know the significance of their recommendations and comprehend the underlying concepts of blockchain technology.He continued to specify how catastrophic it would be for both the celebrity and promoter if one of these unidentified companies ends up being a fraud, or suffer some other security issue.It’s currently unclear exactly what the advantages will serve CreamCoin will be. Westbrook firmly insists that the coins will be incorporated into debit cards that can be used to buy goods anywhere that operate a POS machine. A quick look at the project itself raises some big red flags. Chief amongst them, the badly composed “black paper “, and lack of any information about the team. Ghostface isn’t really even listed on the website and he’s yet to validate he’s got anything at all to do with the project.However, Cream Capital report that they have cryptocurrency ATMs currently active in North Carolina and by 2020 have strategies to capture “majority of the global cryptocurrency ATM market “. Probably best to spellcheck that whitepaper first, though, eh?Source: HipHopGoldenAge|Image: Ghostface [emailsafeguarded]