Storj Blog

Storj Labs will be adopting a detailed policy for the management of all of our cryptocurrency, including the STORJ token. There are several important parts of this policy, including: Oversight: We have a set of internal and external individuals who are responsible for providing review and oversight. Roles and Responsibilities: We detail the roles and responsibilities of various individuals within Storj, including keyholders, the CEO, the CFO, and our newly appointed Chief Compliance Officer.
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As you may have noticed, we’ve spent most of the last nine months talking about the Storj network. We’ve focused most of our posts around our plans for (and significant progress towards) building a more economical, highly secure, highly performant, and very durable decentralized storage network. We haven’t spent a ton of time talking about the utility token, STORJ. For the most part, we think that decentralization is bigger/more interesting than blockchain, and that blockchain is bigger/more interesting than cryptocurrencies and tokens.
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If you are still holding StorjcoinX (SJCX), it’s time to convert the deprecated* coins to STORJ tokens. On June 29, 2018, Poloniex, the main exchange that supports SJCX, will permanently shut down all withdrawals of SJCX tokens still held by their customers. Poloniex already disabled SJCX trading on October 26, 2017, when they listed our new STORJ token. Starting May 16, we will open the STORJ converter app, located at https://sjcxto.
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Since Bitcoin made its debut more than nine years ago, economists have continually debated how tokens and cryptocurrencies relate to (and differ from) traditional monetary economics. These economic theories attempt to understand the functions of money as an exchange medium, a store of value, and a unit of account — all of which are regularly debated within the token community. Token economies are critical to healthy, functioning token ecosystems and attempt to ensure the long-term viability of the platforms.

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Today, the Storj Labs team is pleased to announce our STORJ token is now supported on ShapeShift, one of the top instant digital asset exchanges in the world. This marks another milestone for Storj Labs, as ShapeShift’s API will enable companies integrating with Storj to leverage smart contracts to exchange STORJ for other digital assets in real time. Other STORJ token holders can also swap STORJ for a wide array of digital assets without having to store them on a centralized exchange.

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