Ana Sullivan

Centrality (CENNZ Token) - Is It Credible?

by Ana Sullivan April 16, 2018

Centrality (CENNZ token) is "a venture studio that partners with leading innovators in key industries to create a marketplace of applications", according to the description on their official website. These applications should allow consumers to manage everyday tasks and experiences using peer-to-peer transactions with only one login via blockchain-enabled infrastructure.

From the whitepaper:

"The CentralityPlatform is an ecosystem platform that supports each stage of the startup life cycle. It takes a human-centric approach that allows users to interact with a range of different applications with very low friction. The CentralityPlatformallows developers to create applications which leverage the combined scale of the ecosystemin order to beat the incumbent startup hurdles that exist today".

Is Centrality As Promising As It Sounds?

The Auckland-basedcompany Centrality has raised the equivalent of US$80 millionin virtual currency during its ICO (Initial Coin Offering) which was considered a very successful ICO event.

Currently, the company has listed 16 applications that it is working on their official website’s marketplace. However, it appears that most of the apps only have general descriptions without any real proof of progress, i.e. CentraPay. The app is described as "the world’s first decentralised payment platform which connects consumers directly with merchants, using smart contracts to provide an end-to-end solution for promoting and tracking offers in market". Without further details and proof of progress, this description lacks credibility.

Another troublesome fact surrounding Centrality is that its CENNZ token is only listed on one exchange platform, Cryptopia, as visible on CoinMarketCap.

On top of that, Centrality hasn't open sourced its codebase, although the company had promised to do so in their white paper. "We have a running test net," said a company’s spokesperson back in January, "which we'll start [to] release externally soon." Currently, we couldn’t find Centrality’s codebase on GitHub (correct us if we are wrong).

More about  the CENNZ Token

 

The market capitalization of the CENNZ token is $229,812,786 USD. currently, a single token can be purchased for $0.344343 USD on only one platform, New Zealand-based Cryptopia, as seen on CoinMarketCap. It is curious that the token appears to be listed on one more platform – SingularX.

However, that platform is still in beta, and is a collaboration between SingularDTV and Centrality:

“SingularX is a decentralized exchange for trading intellectual property and ЕRC20 tokens. It is a collaboration between SingularDTV and Centrality, a leading New Zealand-based blockchain venture studio”.

How is the CENNZ token utilized?

The CENNZ is a native token which should be connecting all the applications built on the Centrality Platform modules. The token is linking the customer information to different processes, as explained on page 30 of the whitepaper. The CENNZ token is needed to operate "many of the modules/applications in the Centrality ecosystem and to create smart contracts with other applications". In addition, CENNZ will be implemented on the public Ethereum Blockchain as an ERC20 token.

 

 

 

 

Comments 1

1. Guest
January 02, 2019, 04:55AM

Quotes Bah humbug. Cennz is overhyped and current value means a lot of people have lost a lot of money

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