From GXChain forced to suspend business to talk about blockchain decentralized - DotWallet

From GXChain forced to suspend business to talk about blockchain decentralized


A few days ago, many media learned from the Gudang police station, The police stopped the activity of the blockchain project GXChain, The company’s door has been sealed.

Founded in 2016, GXChain is a data technology company with a blockchain as its core. The company specializes in GXChain, Blockcity and P2P Data Marketplace. Among them, Blockcity has been questioned since its launch.


BrockCity was released on January 12, 2018. Its main business is to allow users to use personal data to mine and obtain cryptocurrency. However, in order to increase the probability of acquisition, users need to bind personal data such as WeChat, Alipay, mobile communication, and even face recognition and other processes to "enhance computing power."


The propaganda slogan of BrockCity is "the master of doing your own data." It sounds very tempting. Protecting data security with blockchain decentralization is indeed an effective way. But is BrockCity really decentralized?


According to an outflow of GXChain 2018 product price service table, its data types cover social security, Jingdong, telecommunications, mobile, China Unicom, Sesame Credit, WeChat, Alipay and so on.These data are clearly priced and can be purchased as long as they have money. In other words, the personal data you provide is not really flowing into the blockchain, but is in the hands of GXChain and becomes their money-making tool. Decentralized blockchain technology can essentially solve these problems.

Facing the development of the blockchain, everyone swarmed, The huge profits of getting rich overnight, the speculative psychology of most people, and the lack of relevant laws and regulations have created this mixed scene, but this does not negate the potential and value of the blockchain technology.