From Bitquence to Ethos

Very exciting times for us here at Ethos! We have officially completed our rebrand from Bitquence to Ethos. I know many of you may have been attached to the Bitquence brand, but we believe that we need a brand that is ready to tackle mass markets – a brand that is ready to change the world.

 

What Does Ethos Mean?

In Aristotle’s model of persuasion, there are three components – Logos, Pathos and Ethos.

Logos is an appeal to logic. An example of this would be “Cryptocurrencies allow you to transact cheaply and quickly anywhere in the world.”

Pathos is an appeal to emotion. An example of this would be “Financial institutions never really cared about the average person, it is time to make a change!”

Ethos is an appeal to ethics and credibility. An example of this would be “As someone who has experienced both the old and new economy, I can assure you that cryptocurrencies will improve the lives of people everywhere.”

Ethos is about more than just that though – It is about fulfilling our obligation to improve the financial system and make the world more equal for all. The logical and emotional benefits of cryptocurrencies have largely been communicated well by people within the industry.

“Bitcoin is cheap and allows you to transact instantly without intermediaries.”

“You should use Bitcoin so that the banks aren’t controlling your money.”

But, despite that, the industry is plagued with ethical criticism. We hear things such as:

“Bitcoin and cryptocurrencies are just tools for criminals and darknet markets!”

“Bitcoin needs to be regulated so that it can’t be used for money laundering!”

“Why should I trust my money with a bunch of hackers?”

Ethos is about bringing Ethics into the cryptocurrency world. Ethos is about unlocking the future of finance and empowering the world. Ethos is about building a people-powered cryptocurrency platform – for everyone. Ethos is about investing in our future together.

Whether or not someone, or something, has ethos, however, is in the hands of the community – in you. We believe we have an obligation to make the world better and that it isn’t just good enough to trust that those in power will act ethically. We believe that financial tools aren’t just for the 1%, but for everyone and that cryptocurrencies have the power to unlock these benefits and democratize finance. These are beliefs that we hold, but also beliefs that we need to share with others especially as adoption grows.

 

Why is Ethos Important?

The Ethos brand will be making the cryptocurrency industry far harder to criticize. When we see media and financial institutions criticizing Bitcoin, it’s easy. Regulation has been largely reactionary and governments and politicians genuinely believe that they are stopping terrorists and protecting consumers when in reality they are on a path to stifle one of the greatest revolutions the world has ever seen. To criticize Ethos, however, is much more difficult. With Ethos they are attacking positive values rather than negative ones. They are attacking ideas like community, solidarity, financial empowerment, ethics, integrity and transparency. Much more difficult.

It is important that we aren’t just different now, but that we also stay different as we grow. Ethos is branding itself in this way not only to be ethical and challenge the system now, but to stay ethical as we grow and to truly embody the name.