Looking towards the future, Shirley is focusing on the Cryptokitties users, explaining, “we just want to make the game bigger and better.” Shih added that, “from a digital collectibles point, we’re really just scratching the surface. Shirley drew from venture capitalist Albert Wenger, suggesting that rather than a vague notion of privacy, what people truly want is freedom of thought and freedom from persecution, and those principles should guide further conversations about privacy protections. Both Shirley and Shih emphasized that with increasing collection of data about everything people do, society will have to rethink what privacy means.
In addition to regulation, there have been questions about privacy.
As of now, within North America, Cryptokitties are not classified as securities. Shirley further explained that most regulators are just now becoming familiar with how ICOs work, so that was the dominant narrative with which regulators were familiar when they entered into discussion with Cryptokitties. In early conversations with the company, regulators attempted to classify them as securities, but Shih explained, a securities model does not fit the function of Cryptokitties. Regulators have been unsure of how to classify digital collectibles like Cryptokitties. Everyone else has investors or speculators.” However, this uniqueness leads to confusion with regulation. Shirley explained that, “right now, we’ve got what no one else has, which is users. Cryptokitties represent a form of “digital collectibles,” or “cryptocollectibles” which are distinct from cryptocurrencies. In a recent discussion led by moderator SJ Klein, Cryptokitties founders, Dieter Shirley and Alex Shih, discussed their business model, as well its as attendant issues of privacy and regulation.Ĭryptokitties is unique because of its game design. Notes from the TalkĬryptokitties, an online game centered around owning and breeding one-of-a-kind digital cats, is one of the first games to be based on blockchain technology. They also discuss some of the ethical challenges they've been facing, and best practices for approach. CryptoKitties is an early pioneer in the space, and, having navigated securities law early on in its release, will share unique insights on classifications. Founding members of the CryptoKitties team, Dieter Shirley and Alex Shih, discuss the unique governance, legal, and regulatory challenges of putting cats on the Ethereum blockchain.
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