Arcade City’s leadership has rebranded into a separate entity, something its founder is not happy with.
Arcade City News
Arcade City is a ride-sharing, blockchain-based platform. Arcade City planned to use blockchain in order to build an Uber-like system that allows drivers to connect with customers peer-to-peer within the Ethereum platform. The Arcade City app claimed to offer such payment methods that would allow the use of PayPal, Bitcoin, Square and a payment system through the application itself. Arcade City received a lot of attention in the media and the blockchain community. However, after the application launched, it didn’t even allow users to get rides. Despite the claims that the application would be fully functional in just a few days, Arcade City’s reputation was badly damage, which led to split of the original team. The money gathered through the Arcade City token will be used for a separate project called Swarm City, which is formed by the council of the previous company. Christopher David, the CEO of Arcade City, called that act fraudulent and didn’t join the rebranding.
Editor’s Choice
- Facebook Releases Cryptocurrency White Paper for Libra Currency
- Ripple to Invest Up to $50M in MoneyGram Following New Partnership
- Tezos Commons Exec Raises Concerns Over Suspicious Activity by Hard Fork Developers
- Japanese Gov’t Agency Reports 170% Increase in Consumer Inquiries About Crypto in 2018
- BTC, ETH, XRP, LTC, BCH, EOS, BNB, BSV, XLM, ADA: Price Analysis 17/06