I guess it seems like their whole point is to merge distributed applications and cloud storage in the blockchain. However, the rest of their website is so chock full of buzzwords I can barely understand anything they try to get across. Every time they say “Turing-complete” I cringe. Every existing distributed application running on the Ethereum chain is “Turing-complete” in theory. Almost every programming language is. This isn’t anything special that applies to GNX.
The Genaro Hub is designed to be a revolutionary workspace where concepts of coworking, coliving, and cocreating are combined, and all linked together by a social and business community utilizing the Genaro ecosystem.
Coworking? Coliving? This is an application ecosystem, not an apartment building, right? It’s worrying that their website includes no working proof of concept examples or anything. This is unsurprising, almost every ICO now is a bunch of buzzwords and no technical proof.
I always love the disclaimers that they always put at the beginning of whitepapers.
This draft white paper is not the final version and information is subject to change, please always go to the Genaro official website for the latest version. The information is for community discussion only and not legally binding. Please do NOT distribute any part of this white paper without including this disclaimer.
This is horribly ironic, given that many people will be making investment decisions based on the content of this whitepaper, when it contains a disclaimer like that.
It seems like their technical description uses some weird mix of Proof-of-Stake (PoS) and Proof-of-Work (PoW). Other than that, it sounds like a horrible mess of buzzwords that don’t make much sense.
After this horribly short, buzzwordy “technical description” comes information about the token.
The GNX token is the oxygen that powers the brain and heart of the Genaro Network.
Ah yes, I love weird metaphors in my technical documentation. Thanks.
The GNX token is not a securities token. Therefore it does not offer any dividends or profits, nor voting rights. We do not want the token used for speculative purposes. The main purpose of the GNX token is a medium of exchange within the Genaro Network. As such, we define it as a utility token.
“SEC pls go away”
Everything else about the whitepaper seems to just rehash other points they’ve already made, but with even more buzzwords – somehow.
Later in their whitepaper they start talking again about Genaro Hub. I thought it was a weird way of talking about an application ecosystem, but turns out they are talking about a real space.
In practical respects, it will operate as coworking spaces do today, with hot desks, private offices, meeting rooms, shared common areas and event space, health and wellness amenities, and shared services for companies in the hub.
… wut. So if their ideas weren’t lofty enough, now they want to build a full on workspace with work areas, “sleep pods”, in-house graphic designers, legal, HR and finance team, public relations and events teams… the list goes on.
The difference is that all the above amenities and services will be provided under the token - based economy that Genaro is pioneering.
Yeah, no. There’s no way you can somehow make your niche blockchain project earn enough money to build one of these spaces and hire all these people you want on site.
There is literally no way they can legitimately make this project work. Buying their token is for nothing other than funding this batshit “workspace” project or whatever it is. That is, assuming any amount of ICO funding would cover their absurd plans.
Nothing about this ICO seems like a good idea. Tons of buzzwords, some insane “Genaro Hub” workspace plan. Everything about this sounds horribly fishy and a way of sucking money out of people so they can make a quick buck.