Sex, Alcohol and Blockchain: Why White Papers, FAQs Make for Interesting Reading

Jargon overload: “Transaction fees are burned to build reputational capital for the parties involved in a transaction.”

Truth in advertising: “Clients do not want to volunteer information or payment details that could be used to expose them so it is difficult to establish trust.”

Blockchainbottle.net: Serving Up Crypto Spirits

What it is: A cryptocurrency-only online wine and spirits store. Prices are listed in dollars (a 750–milliliter bottle of 25-year single barrel Balvenie whisky is listed at $498.87), but the site only accepts cryptocurrencies: bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), to be precise. This is a business without a white paper, but who can resist the lure of mixing booze with bitcoin?

Blockchain-friendly quote: “Don’t HODL, buy a bottle! Remember to drink responsibly, don’t get REKT.” Token humor never gets old.

What might work: The website claims that by factoring out the transaction costs and fraud associated with accepting credit cards, it’s possible to offer lower prices to consumers. (That bottle of Balvenie is, in fact, significantly cheaper than current prices on a traditional online spirits site).

What might not: While the blockchain may ultimately lead to privacy advocates’ oft-voiced dream of providing independently verified proof-of-age without divulging other personal information, present-day shipping requirements mean that an adult over 21 must sign for deliveries.

Jargon overload: “Clicking [the place order button] will take you to coinbase commerce with a 15-minute window to complete the transaction. Please make sure you copy the exact currency amount and send address. Once the transaction is confirmed you can click the button to return to our site.”

Truth in advertising: “Due to alcohol shipping laws we currently do not ship to the following states: Alabama, Alaska, Arkansas, Delaware, Kentucky, Mississippi, New Hampshire, Oklahoma, Pennsylvania, Rhode Island. South Dakota, Texas, Utah and Vermont.”

HoweyCoins: Getting Taken for a Ride

What it is: A “universal medium of exchange for travel that will drive down costs,” according to its white paper, which also says that use of its token “is guaranteed to lead to higher valuations.”