BitClout has removed Singapore Prime Minister Lee Hsien Loong's profile from its platform after the latter points out that it would mislead the public.

On Apr. 2, PM Lee took to social media after learning that BitClout had listed his name and photo on the platform without his consent and asked to remove his profile immediately.

Straits Times reported on Tuesday, Apr. 6, that BitClout had also used other well-known names, including the country's national carrier Singapore Airlines.

BitClout: What Makes The Crypto Project Controversial?

According to Coindesk's Mar. 23 article, BitClout is a proof-of-work blockchain that allows users to buy and sell "creator coins" tagged to influential profiles using the platform's native cryptocurrency called BitClout (BTCLT).

"The core insight behind BitClout is that if you can mix speculation and content together, you can not only get a 10x product that creates innovative ways for creators to monetize, but you also get a new business model that's not ad-driven anymore," the platform's lead creator, who goes by the name Diamondhands, explained.

The platform's whitepaper said that it had "pre-loaded" 15,000 influencer profiles, which users could "buy" using BTCLT tokens.

However, BitClout had found itself in the middle of a controversy for selling social tokens without the user's consent.

On Mar. 27, Yahoo Finance reported that a law firm sent a cease and desist letter to BitClout's founder for using its client's private information without his consent.

The notice alleges that BitClout violated two of California's Civil Code, with one pertaining to "individual's right to profit from the commercial value of his or her own identity," and the other relating to an individual's right to privacy.

The letter added that an individual should have the right to decide the commercial value of their likeness, how they could use it to profit, and choose which organizations to collaborate with.

The law firm also pointed out BitClout would only allow people to use its platform and control their own profiles once they bought BTCLT tokens using Bitcoin or by providing their telephone numbers.

Also Read: Mando Crypto Scam: 17-Year-old TikTok Influencer Issues Apology After Fooling Everyone, Including Himself 

Singapore Prime Minister's Zero Tolerance for Corruption

BitClout is not the first platform the Prime Minister called out for using his name.

On Apr. 5, Reuters reported that a Singaporean blogger turned to crowdfund after he was ordered to pay PM Lee in a defamation case.

Leong Sze Hian, a financial advisor, shared an online news article in November 2018 that linked the PM to a financial scandal involving Malaysia's state fund.

The PM's lawyers argued that the news articles were "false and baseless," which the Singapore high court favored.

Leong was ordered to delete the post within three days of sharing it and pay the PM S$133,000 ($98,840) for the damages.

To comply with the court order, Leong had successfully crowdfunded the requested amount and announced: "It is finished. All paid for."

It is finished. All paid for.
#sgunited
Posted by Leong Sze Hian on Sunday, April 4, 2021

Related Article: Singaporean Torque Traders Drop Life Savings After Crypto Employee Creates Unauthorized Trades 

This article is owned by Tech Times

Written by Lee Mercado 

ⓒ 2024 TECHTIMES.com All rights reserved. Do not reproduce without permission.
Join the Discussion