Crypto Glory or Own Goal? Michael Owen Announces "Owen Coin" (OWN) Cryptocurrency

Bitcoin and Ethereum both falling slightly overnight to $9,100 and $721 respectively, the global cryptocurrency market cap now hovering around the $420 billion mark. Top altcoins showing a fairly even split of gainers and losers across the board.

Cryptocurrencies and blockchain can be confusing at the best of times, officials in Iran however appear to have found a way to up the confusion levels further still. Chairman of the Economic Commission of the Parliament of Iran, Mohammad Reza Pourebrahimi has been talking to regional press about the volume of cash being invested into cryptocurrencies by Iranians. Last week the Ibena.ir agency reported the figure at $2.5 billion USD, whilst previously the Isna newspaper reported the figure to be $30 billion USD.

The confusion continues over into the subject of the possibility of an Iranian national cryptocurrency after the Minister for Information and Communications Technology (ICT), Mohammad Javad Azari-Jahromi recently confirmed that an experimental local cryptocurrency had been developed and a test model was ready. Last week however in an interview with Ibena, Pourebrahimi is quoted as saying “No virtual national currency has been designed in the country at the present”. Quite whether the confusion is intentional and supporting an underlying government agenda, a few typo’s, or an extremely bad accountant remains to be seen.

Football star Michael Owen appears to have now fully committed himself to the celebrity cryptocurrency bandwagon announcing the upcoming launch of “Owen Coin” at the Dubai Blockchain Summit. Back in March Owen appeared in an uncomfortable interview on CNBC about his collaboration with celebrity tokenization platform GCOX. At the time there were no explicit statements of his intent to roll out his own cryptocurrency nor anywhere in his social media streams. The “Owen Coin” (OWN) is aimed at fans enabling owners to buy merchandise directly and interact with the star in training videos and live online streams.

Owen was reportedly accused of “cashing in” with the move by some attendees at the summit - given the tokens’ intended use is aimed at kids for them to access training sessions, the accusation hits the nail on the head. Owens response when asked if he understood the risks associated with cryptocurrencies was “Cryptocurrency can be quite a dangerous area to go in followed by several obviously pre-prepared one-liners designed to be informative whilst specifically vague. The ICO itself will be an interesting one to follow – whether it backfires as an own-goal for Owen or not of course remains to be seen.

 

Created: Wednesday, May 9, 2018

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