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BAT · 4w

Brave rewards is not really a crypto project [unpopular opinion?]

Update: If you're interested in the point I raise, check out [THEMIS](https://brave.com/themis-rfcc/) and read the response by the BAT team below. This post is **only** about Brave rewards and not other aspects of Brave and BAT. My claim is that on a fundamental level nothing about Brave rewards has anything to do with crypto and blockchain technology. Please convince me otherwise if you think I am wrong! My claim might appear silly at first because BAT is a token on Ethereum, but hear me out. How does Brave rewards work? Advertisers buy ads in USD or BAT from Brave (which then buys BAT if the advertiser paid in USD). Brave is a single centralized entity. Users need to trust Brave to use 70% of the paid amount and distribute it among its users fairly according to the amount of ads the user has seen. The user then has to trust Uphold to safely and transparently store the earned BAT and transfer/sell them if requested. Uphold knows your real name and address. Note that if you swap out BAT by USD, everything in the above paragraph could be implemented exactly the same. Instead of Uphold you would just receive your rewards in your regular bank account or Paypal, which are in many countries better regulated and in my opinion more trustworthy than Uphold. So, how is Brave a crypto project? It simply created and chose an Ethereum token as its currency of choice, but there is nothing inherently decentralized about it. Blockchain is about making it unnecessary to trust centralized entities and instead relying on a „network of decentralized trust“. Brave rewards relies on the opposite. Am I missing something? What is the advantage of using BAT as the currency in Brave rewards and not the USD, Euros or any other major fiat currency? People then can simply buy any cryptocurrency they like with the earned Brave rewards in USD if they don’t like holding fiat. Please don’t misunderstand me. I like the Brave browser for its privacy and the concept of Brave rewards. Just th...
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