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by baobabKoodaa 3315 days ago
There's a lot of things wrong with this statement. For starters, Ethereum's development is controlled by a single entity. Even if Ethereum was decentralized, you can still program whatever tokens you want on top of Ethereum. In this case Kik chose to program a token attached to a token-printing machine that they control. They also designed user-to-user transactions within the Kik economy such that you first have to deposit your money at Kik before you can send it to another user. This means that Kik is at liberty to freely confiscate money deposited to them or censor transactions within the Kik ecosystem. This is a centralized virtual currency by a private corporation, made on top of Ethereum for marketing reasons.