Do you think it is possible to completely get rid of scams?
Hello everybody. I think everyone who has ever been involved in cryptocurrency investments is interested in the question of how to protect themselves from scams and loss of money. Recently I learned about the CheckDot project, which creates a platform with which it will be possible to get an assessment of any project in the blockchain world. In theory, this way you can get rid of a lot of scams, but does it help?
What do you think, is it possible to somehow get rid of scams among crypto projects?
As long as decentralization in crypto is concerned, it is difficult, Infact, it's impossible to get rid of scams amongst crypto projects, we can only try our best through research to discover those projects that are scam and avoid them as well as warn other to stay away from such projects.
The only way I feel we can atleast bring the level of scams amongst crypto projects very low is if there is a centralized body like a government that will be in charge of monitoring and approving crypto projects to be launched, this can be by giving the legit projects license to launch while the licenses are denied for the shady ones.