The Miss Universe Coin created a storm of controversy on the Philippine Blockchain Week (PBW) when it got here to mild that the coin, touted throughout the occasion and unveiled at a previous press convention, had no affiliation with Miss Universe, the model and pageant owned by Thailand-based JKN Holdings.
What appeared like a promising enterprise took an sudden flip, leaving questions and authorized actions in its wake.
Earlier this month, PBW buzzed with anticipation as Donald Lim, the founding father of the group overseeing the occasion, proudly declared the launch of the Miss Universe Coin.
Miss Universe Coin: A Misleading Unveiling?
Nevertheless, the passion quickly gave technique to bewilderment when the official Miss Universe Group, backed by JKN International Group, distanced itself from the coin venture, labeling it fraudulent.
Over the weekend, the Miss Universe Group made its stance clear on its official Facebook page, unequivocally stating that it had no affiliation with the coin venture unveiled at PBW. They additional vowed to discover “all authorized choices on the subject of this infringement.” The once-promising Miss Universe Coin was now caught in a whirlwind of controversy.
PBW’s Response And Lingering Questions
Within the wake of this revelation, Philippine Blockchain Week addressed the rising unease amongst its attendees. Initially, a press release was posted on Telegram however subsequently deleted, solely to be reissued with notable modifications on each Fb and Telegram.
Bitcoin registers a market cap of $509 billion at present. Chart: TradingView.com
The updated message expressed the group’s dedication to addressing the scenario severely. It acknowledged that PBW was involved with all related events concerned and pledged to maintain the neighborhood up to date.
Blockchain Repute Tarnished
Regardless of this, the lingering questions stay. How did the Miss Universe Coin handle to move the due diligence course of set by occasion organizers? And what measures will likely be taken to make sure such incidents don’t tarnish future occasions inside the blockchain and cryptocurrency neighborhood?
Many are left questioning how the Miss Universe Coin managed to move by way of PBW’s due diligence course of, and what steps the group plans to take to forestall related incidents from occurring in future occasions.
The Miss Universe Coin had been positioned as a major participant within the cryptocurrency area, with Vincent Tune, International VP of XT Trade, presenting it as a possible rival to the favored SHIB token. Now, its credibility hangs within the steadiness because the cryptocurrency world watches intently to see how this controversy unfolds.
Within the realm of blockchain and cryptocurrency, belief and authenticity are paramount, and this incident serves as a stark reminder of the necessity for thorough due diligence and transparency within the trade.
The Miss Universe Coin could have shone brightly on stage at PBW, however its true colours stay unsure.
Featured picture from Sashesandscripts
