An anonymous, decentralized movement called Faythe is mounting a lobbying campaign across all 28 EU member countries to prevent cryptocurrency and blockchain from facing outright bans or heavy-handed
An anonymous, decentralized movement called Faythe is mounting a lobbying campaign across all 28 EU member countries to prevent cryptocurrency and blockchain from facing outright bans or heavy-handed regulation. The group aims to educate lawmakers about blockchain's utility, the value inherent in transactions, and the role of crowdfunding in funding innovation.
Faythe has launched its own token ecosystem to fund operations. The TTP token sits atop the Trent fund, with distributions going to the community. Early backers receive FYE tokens as incentives, and these FYE tokens can eventually swap for other forms to support blockchain development. The group operates through the Faythe Alpha Net, a private communications channel. A separate blockchain, Trend EVO, is currently in development and scheduled for release in early 2019.
The movement has raised over $140,000 so far. Ben Givon, a writer at Bitcoin-Review.co, donated $50,000 to Faythe's lobbying push. Givon frames crowdfunding differently from equity investment. "Crowdfunding is not about buying company shares or equity, but financing great ideas and helping developers," he said. Across platforms globally, crowdfunding has moved more than $50 billion, backed by millions of individual funders. If regulators ban it, Givon warns, jobs disappear, careers end, and growth stalls.
Faythe operates under what its creators call a God Protocol, which pairs algorithms with human judgment from trusted intermediaries. These people provide context that machines cannot. The alpha network lets members communicate directly. Alpha Net staff and operators cannot hold TTP tokens; those go to the Trend EVO development team, ensuring the community maintains control. FYE funds will pay for lobbying efforts, education for lawmakers, and incentives aimed at building pro-crypto regulation while defending human rights to privacy, security, ownership, and intellectual property.
The campaign unfolds in three phases: Prime Movers, Brain Gain, and Streaking. A separate protocol, Faythe EVO, will eventually bridge independent blockchains using Faythe EVO2. A total of 21 million FYE coins will be minted, all directed to community benefit.
Regulators understand the advantages crypto offers, according to attorney Jonathan Siennicki, who spoke at the Las Vegas Cryptocurrency convention in January 2018. He noted a key distinction: digital tokens carry no expiration dates and appreciate in value. Food coupons degrade. Crypto does not. Crypto advocates must continue pushing the advantages of blockchains and smart contracts, Siennicki argued, and lobby for favorable policy worldwide.
Faythe's funding comes from donors. Contributions flow through Ethereum smart contracts using ERC20 tokens. Early contributors receive FYE as rewards. Both TTP and FYE tokens will list on exchanges after the main fundraising period closes.
Cryptocurrencies threaten established power structures. Traditional institutions see decentralized systems as competition. Faythe exists to prevent regulators from stripping crypto of its core properties and advantages over fiat currency.
A Faythe spokesperson outlined the mission plainly: "We are an anonymous decentralized movement created to defend the cryptocurrency community. We have worked hard on developing Faythe Alpha Net, the first operational god protocol. Our goal is to fight cryptocurrency censorship, public manipulation and corporations forcing governments to protect them against decentralization. Faythe is funded by the people and represents the people. Our work will ensure that our rights and freedoms are enhanced and protected by law."
The stakes feel immediate within the crypto world. One Faythe representative captured the sense of urgency: "The notion that we can just fade into crypto and ignore the unpleasant political realities is unrealistic. We are in a race between our ability to build and deploy technology, and their ability to build and deploy laws and restrictions. The possibility of anonymous transactions is vital for an open society. Withdrawing into technology is like pulling the blankets over our heads. It feels good for a while, until reality catches up. We must obtain the security needed to protect our goal, ourselves and our future."
