Augur Founder Starts Ethereum-based Religion

Augur Founder Starts Ethereum-based Religion

Ethereum Events
June 3, 2018 by Francisco Caldas
161
Augur Founder, Matt Liston, is creating his own religion which will be recorded on the blockchain. Liston became a popular crypto personality in the past when he filed a lawsuit against the company he helped found for $152 million. Augur was launched with the intent of being a market prediction tool and during their ICO
augur

Augur Founder, Matt Liston, is creating his own religion which will be recorded on the blockchain.

Liston became a popular crypto personality in the past when he filed a lawsuit against the company he helped found for $152 million.

Augur was launched with the intent of being a market prediction tool and during their ICO (Initial Coin Offering) in 2015 it raised $5 million. Throughout the ICO, a total of 8.8 million REP tokens were sold for $0.60 each. During the cryptocurrency’s market strongest bull run in December 2017, the REP token would see an all-time high of almost $100. It currently trades at an approximate value of $37.

Liston was involved in the early stages of Augur’s development and either left or was kicked out as a result of disagreements related to the objectives of the company both on a technological and commercial level.

Donations and community consensus will be executed through smart contracts on the Ethereum blockchain. Liston stated:

  • “It’s a religious framework that could allow for belief sets to update much more quickly and also to democratize the relationship between membership and convergence on what everyone believes in this religion.”

The religion, named 0xΩ, will be based on a governance model outlined on Liston’s take on a white paper that he calls “flame paper”. The first step is the method stakeholders will probably utilize a proxy vote to update by-laws in an organization, giving believers the power to identify, approve, and evolve sacred text through smart-contracts.

Liston elaborated:

  • “The idea is you can take an existing religion, say Judaism, and you could place the scripture in a blockchain.”

Artist Avery Singer was present at the announcement ceremony. She refers to Liston as a “Cryptsiah” and a “Cryptophet” and claims she was lured into the religion because of its decentralized nature that doesn’t require an overall leader.

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