PRESS RELEASE: The Erth Point (ERTH) restores trust to a shaky post-FTX crypto world
It’s clear the FTX debacle has graphically demonstrated what’s wrong with a large segment of the crypto space, but there’s a fundamental undertone that threatens more than just one large, centralized exchange. A recent article that appeared in the online publication Cryptonews gives a hint as to the problem. The article was titled, ’11 Cryptos that will make you rich in 2023’. While the title gives an undeniable clue as to why most traders operate in the crypto space in the first instance, any rudimentary analysis of the selected tokens on that list points to one glaring common theme:
There’s hardly a real-world use case evident for any of the selected projects. In other words, none of them produce anything of substance or provide any value in the real world, and only baseless trading speculation can promote token price growth.
The underlying blockchain technology that crypto runs on has far exceeded its roots and is being applied to such things as banking and finance, healthcare, record-keeping, and supply chains. And all without the necessity for a crypto at all. So, the question needs to be asked – can crypto itself survive and thrive as the world’s newest asset class without projects that produce this critical real-world value?
Perhaps the answer has being partially unveiled during the latest prolonged ‘crypto winter’ which has enveloped the entire market since late 2021. Bitcoin, along with most of the 20,000+ altcoins, has shed more than 60% of its value during that period, and the overall market has contracted by around $2trillion since the peak. It seems SBF and the managers of FTX produced a token out of thin air and then leveraged it using other people’s money. In any jurisdiction this is tantamount to outright fraud, and yet VC’s and other large institutions threw billions at it. Clearly this was a case of speculative greed, and so the answer to the question on whether the industry as a whole can survive moving forward relies on the validity of one statement:
There simply must be more tokens with a real-world use case, and projects must benefit humanity.
Projects like the Erth Point System (ERTH) have now entered the crypto space following a successful pilot in Australia. ERTH displays an unparalleled level of real-world utility which will undoubtedly return that required level of trust to the market. The ERTH Point ecosystem involves business-to-customer transactions which are directly correlated with an on-market trade, all the while funding projects to clean up and restore our planet. This means every transaction that occurs in the real world between participants using the system creates true value both on and off-market. This single feature alone excludes the necessity for trading speculation which is the only thing that underpins the price and ‘value’ of 99% of tokens currently available. As speculators inevitably leave any market, only those projects that create this true value will survive. And only projects that have this level of functionality and utility will ensure the long-term survival of the space itself.
The Erth Point System can be used by virtually any business and every customer in the world, and it will be rolled out across the globe starting in 2023. As more and more large businesses take it onboard as part of their ESG responsibilities, or simply to gain a larger market share, it’s likely to become one of the most sought-after tokens in the market. ERTH is already available on three global exchanges; XT.com, p2pb2b.com, and Coinstore.com, with more being added in Q1 2023.
