From Darkcoin to Dash?

darkcoinIs a complete re-branding of Darkcoin a good idea? Creator Evan Duffield seems to think so. To gain wider acceptance he will give Darkcoin a new branding. But not everyone in the community is happy about this. After a post to the Darkcoin community forum yesterday, the market response was rather negative. Duffile himself thinks that they are currently approaching a very important phase of the development of Darkcoin so a re-branding could be helpful.

To the community forum Duffield posted:

[…] Because of this I believe we’re currently approaching a very important phase of the development of Darkcoin.[…] It’s time that we start exploring some of the ways we can become a true competitor to Bitcoin. […] Because of this I no longer feel the name Darkcoin reflects the true essence of the project and have decided to rebrand our product. […] Dash represents the goals that we’re trying to achieve, to be a fast, friendly and scalable online payment system.

The name Dash was recommended earlier in the community and Duffield and his team picked up on that an began investigating the use of it. A possible reason for the re-branding could be the fact, that the name Darkcoin could be dedicated to the underground and a new name will give a new image for the future.

What do you think? Is a re-branding necessary?

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One Response to From Darkcoin to Dash?

  1. ScioMind says:

    I think this is an absolutely brilliant idea! My very first “knee-jerk” reaction was that it wasn’t, that it would shake confidence in the coin, and so on…but then I started thinking more long-term.

    The features of the coin – true anonymity (not bitcoin and other’s “pseudo-anonymity”) and instant transactions among the most significant – are not changed at all by this. What WILL be changed is the long-term PUBLIC PERCEPTION of the coin, and in a very positive way. DASH will be viewed (and marketed) as much as a payment system as a crypto-coin. It will be free of the “stigma” associated with the “dark” (read “tool for illegal transactions”) nature of “Darkcoin” and instead will be seen (and rightly so) as a viable and economical alternative to more expensive payment systems such as credit cards, PayPal, and so on.

    I think the market will react (albeit a bit more slowly) to the news of the rebranding in much the same way I did…an initial pullback in price, followed by a nice long ride upward…

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