创业的增长幻想

每个创业公司都梦想着快速扩展，统治市场并确保十亿美元的估值。

In the vibrant ecosystem of startups, a tale of remarkable deception unfolded as JP Morgan Chase (NYSE:JPM) fell victim to a founder's fabrications, highlighting the crucial role of blockchain in verifying startup claims.

在活跃的初创企业生态系统中，随着JP Morgan Chase（NYSE：JPM）的出现，一个引人注目的欺骗故事是创始人捏造的受害者，突出了区块链在验证创业主张中的关键作用。

As every startup dreams of scaling rapidly, dominating the market, and securing a billion-dollar valuation, investors are typically keen to find the next unicorn, placing massive bets on early-stage companies based on growth metrics.

随着每个初创公司的梦想迅速扩展，统治市场并确保了十亿美元的估值，投资者通常渴望找到下一家独角兽，并根据增长指标对早期公司进行大量赌注。

This includes user adoption, engagement, and retention, especially in an industry where valuation is tied to perceived potential rather than immediate profitability.

这包括用户采用，参与度和保留率，尤其是在估值与感知潜力而不是立即获利能力相关的行业中。

The startup ecosystem is buzzing with chatter about a new generation of investors who are placing high-stakes bets based on unverifiable data. In today’s tech-driven economy, users are currency. A startup’s valuation is often determined by how many people have signed up, how many engage regularly, and how much those users could eventually be monetized.

初创企业生态系统正在嗡嗡作响，因为新一代投资者正在基于无法验证的数据进行高风险赌注。在当今技术驱动的经济中，用户是货币。初创公司的估值通常取决于有多少人注册，定期参与多少人以及最终可以将这些用户货币化的数量决定。

For venture capitalists, a rapidly growing user base signals market demand and a chance for an enormous return on investment. But what happens when those numbers are fabricated and the illusion of success collapses?

对于风险投资家而言，迅速增长的用户群信号是市场需求，并有机会获得巨大的投资回报。但是，当这些数字被捏造而成功的幻想崩溃时会发生什么？

Enter the tale of Frank, a fintech startup acquired by JP Morgan (NYSE:JPM) in 2021 for $175 million. Frank’s founder, Charlie Javice, promised to help students navigate the financial aid application process with his company's technology.

输入弗兰克（Frank）的故事，弗兰克（Frank）是一家金融科技初创公司，由JP Morgan（NYSE：JPM）在2021年以1.75亿美元的价格收购。弗兰克（Frank）的创始人查理·贾维斯（Charlie Javice）承诺，通过其公司的技术来帮助学生在经济援助申请过程中导航。

To highlight the startup's success, reports stated that Frank claimed to have 4.25 million users, an impressive feat in an industry known for slow adoption. However, the reality was far different.

报道说，为了强调创业公司的成功，弗兰克声称拥有425万用户，这是一个以缓慢采用而闻名的行业的令人印象深刻的壮举。但是，现实却大不相同。

As reported by the DeBanked, when JP Morgan ran a simple test by sending marketing emails to Frank’s supposedly massive user base, hardly anyone opened them.

正如撤销案报道的那样，当JP Morgan通过向弗兰克所谓的庞大用户群发送营销电子邮件进行了简单的测试，几乎没有人打开它们。

Suspicious, the bank launched an internal investigation and discovered that Javice had allegedly paid a data scientist to generate fake user records. What looked like a rapidly growing company was, in fact, a house of cards propped up by deception.

可疑，该银行发起了内部调查，发现Javice据称已向数据科学家支付了伪造的用户记录。实际上，看起来像一家迅速发展的公司是一套欺骗性的纸牌屋。

Following the discovery, JP Morgan shut Frank down entirely. The bank filed a lawsuit in August, accusing Javice of fraud, and federal prosecutors followed suit with criminal charges in December. Now, the once-promising founder faces years in prison and may be ordered to pay restitution of $143 million.

发现之后，JP Morgan完全关闭了弗兰克。该银行在八月份提起诉讼，指责Javice欺诈，联邦检察官在12月诉讼案件诉讼。现在，曾经有经验的创始人面临年监禁年，可能被命令支付1.43亿美元的赔偿。

This wasn’t just an isolated case of one founder’s greed; it was another example of an industry-wide issue: investors making high-stakes bets based on unverifiable data.

这不仅仅是一个创始人贪婪的孤立案例。这是整个行业问题的另一个例子：基于无法验证的数据进行高风险投注的投资者。

While the tale of Frank unfolded, another critical aspect of the startup world came into play. In an age where digital identity is paramount, verifying a startup’s claims of millions of users is becoming increasingly difficult, especially with the potential for founders to fabricate data or manipulate numbers to secure more funding.

弗兰克（Frank）的故事展开时，创业界的另一个关键方面也发挥了作用。在数字身份至关重要的时代，验证创业公司对数百万用户的主张变得越来越困难，尤其是创始人可以制造数据或操纵数字以获得更多资金的潜力。

Moreover, fibs from founders aren’t new—but with trillions of dollars in assets being managed on-chain and the shift to Web3, the need for veracity in the startup ecosystem is more urgent than ever.

此外，创始人的纤维并不是什么新鲜事物，但是拥有数万亿美元的资产可以管理链子和向Web3转移，在启动生态系统中对真实性的需求比以往任何时候都更加紧迫。

Enter blockchain technology. A blockchain-based digital identity system ensures that every registered user is uniquely verified, making it impossible for a founder to fabricate millions of fake accounts. Unlike traditional databases, where records can be altered or created internally, blockchain records are immutable.

输入区块链技术。基于区块链的数字身份系统可确保每个注册用户都有唯一的验证，从而使创始人不可能制造数百万个假帐户。与传统的数据库不同，可以在内部更改或创建记录，区块链记录是不可变的。

Once a user’s identity is registered, it cannot be changed or faked. This level of security is crucial for verifying a startup’s user base and ensuring that investors are investing in companies with genuine traction.

一旦注册用户的身份，就无法更改或伪造。这种安全水平对于验证创业公司的用户群和确保投资者正在对具有真正吸引力的公司进行投资至关重要。

Furthermore, self-sovereign identity (SSI) takes this concept even further by allowing individuals to control and verify their identities without relying on a central authority.

此外，自我主张身份（SSI）通过允许个人控制和验证自己的身份而不依赖中央权威，从而进一步采取了这一概念。

Users authenticate their identity through blockchain-based credentials independently verified by trusted institutions. For instance, if an investor wants to validate a startup’s claim of one million active users, they wouldn’તી have to rely on the founder’s word—they could check the blockchain and see the verified numbers for themselves.

用户通过受信任机构独立验证的基于区块链的凭据来验证其身份。例如，如果投资者想验证一家初创公司对一百万活跃用户的主张，则他们不得不依靠创始人的话 - 他们可以检查区块链并自己查看已验证的数字。

This technology is already being implemented by BSV, which is uniquely suited for handling the scale and verification needed for digital identity. Unlike Ethereum (CRYPTO:ETH) and other networks that struggle with transaction speed and high fees, BSV is designed for enterprise-level scalability, processing millions of transactions per second at an extremely low cost.

BSV已经实施了这项技术，BSV非常适合处理数字身份所需的规模和验证。与以太坊（Crypto：ETH）和其他与交易速度和高费用斗争的网络不同，BSV是为企业级可扩展性而设计的，以极低的成本处理数百万美元的每秒交易。

This makes it possible to verify users at scale without creating financial barriers for startups.

这使得可以大规模验证用户而不为初创企业创建财务障碍。

BSV is already being used to power digital identity solutions across industries, from banking to healthcare. The same technology that ensures data integrity in those fields can be applied to startup growth metrics, providing a foundation for valuations based on verifiable truth rather than manipulated numbers.

从银行业到医疗保健，BSV已经被用于为整个行业的数字身份解决方案提供动力。确保这些领域数据完整性的相同技术可以应用于启动增长指标，为基于可验证的真理而不是操纵数字的估值提供了基础。

In a world where trust is paramount, blockchain can be a game-changer for the startup ecosystem. It presents an opportunity to move away from a culture of secrecy and toward one of transparency.

在信任至关重要的世界中，区块链可以成为启动生态系统的游戏改变者。它有机会摆脱保密文化，转向一种透明度。

As investors grow weary of being deceived by falsified numbers, blockchain can help to create a more sustainable and trustworthy model for startup investment.

随着投资者对被伪造的数字欺骗的疲倦，区块链可以帮助创建一个更具可持续性和值得信赖的启动投资模型。

The generation of investors

投资者的一代