Quote from: bbc.reporter on October 04, 2017, 01:23:40 AM

3) It is not we who decide what passes the smell test. If it passes your smell test but it does not with the SEC then you still made a bad investment.

Hmm, interesting. Did other folks think I was talking about regulation? Legality?
I meant my question to qualify valid use cases in the market, in the real world. Does it increase efficiencies and security? Is the token solving a real problem in a much better way than is already provided by existing tokens, or more specifically traditional/existing solutions? Maybe because I am just a newbie, but to me the qualifying lens (smell test) of asking "why use the blockchain when a database could solve this problem just if not more easily" helped me focus when reading white papers.

An example I heard (sorry no links, just heard from friend) was a proposed blockchain to qualify organic food-- it needs to be transparent (people aren't going to just trust Whole Foods) and it needs to be accessible to all.

Perhaps I am still stuck on the personal conundrum where ICOs in many cases seem antithetical to the core precept of being decentralized.