Jake Chervinsky On Whether ICOs Are Scams
Dogecoin: What Does the Future Hold? (2019)
- So who is Jake Chervinsky?
- The lawyer started his early career looking into white-collar financial crimes.
- "When I learned about bitcoin, it struck me as an engineering solution”
So who is Jake Chervinsky?
Well he’s a lawyer, but he’s not yours. If you’ve come across Jake’s Twitter page, you’ll definitely know what I mean by that, just saying. As general counsel for the decentralised lending protocol, Compound, the lawyer started his early career looking into white-collar financial crimes. Coupled with having graduated law school during the most recent global recession and his experience in the field, Jake sure has a vast knowledge of the banking industry. But what about bitcoin?
As per CoinDesk, Chervinsky said:
"When I learned about bitcoin, it struck me as an engineering solution to what I saw as a whole group of intractable political problems – misaligned incentives, rent-seeking behavior, disrespect for privacy rights,"
In 2018, Jake joined Kobre & Kim, a boutique law firm that specifically looks into all fraud and misconduct cases. Speaking to CD, the lawyer spoke on Initial Coin Offerings (ICOs), which have been a controversial thing in the space these past few years. Some have made fools of people and stolen their money which has seen a lot of them being labelled as scams before they get a
chance to announce it.
“I believe we should only use the term “scam” to describe outright frauds – that is, the intentional use of trickery, deceit, or other dishonest means to deprive people of their rightful money or property. In my view, the term “scam” has been greatly overused in the context of ICOs, most of which were simply doomed-to-fail business concepts rather than overtly fraudulent schemes.”
Article Produced By
Adrian has been leading teams in the finance sector for over a decade. He is highly experienced, and is responsible for ensuring that the latest news is delivered to you as it is breaking. He has a keen interest in virtual currencies, and has even made investments himself, so is incredibly passionate when it comes to writing about this topic.
$100 Signup Bonus, plus earn up to $200 daily. If you sign up today, you also get 500 mhv Coins for FREE, and a well over $2,000/Month worth Income and Wealth Building System, all 100% FREE. Get Details here: http://aboutcomercex.com/