User:Joshua Ritchey/sandbox

Swarm City is a crypto-currency platform with a claim to fame as the first legitimately decentralized peer to peer, free market economy. The platform is enabled by the SWT token which runs on the Ethereum blockchain. Th project was officially launched in November 2016 when the founder Christopher David stepped away after the Token sale. The project was born from Arcade City, but had its name changed to Swarm City when the new team took the project over. Bernd Lapp led the charge in picking up where Christopher David dropped it to ensure all the Angel Investors received the share of tokens promised to them. Lapp has since been a leader in an open-source, crowd or "Swarm" run project.

Project Development
Swarmcity as of August 2017, was an ongoing project with a volunteer army developing the platform and user-base. It was to be released in 3 stages. Terminal was the first, a basic platform allowing peer to peer business to occur. The second phase Boardwalk would allow a user to post requests and make offers on requests, as well as choose offers within a geographical region. Storefront was the final phase allowing the use of hashtags to be developed with the open development allowing anyone to create a hashtag to maintain and charge for the use of as they saw fit.

Anyone may create their own wallet by visiting Swarm.City. The wallet can be backed up to a JSON file or by IPFS.

Terminal
In December 2016, the Swarm City Developer "Dev" Team worked toward the first phase of the project in creating Terminal, which was released in February 2017. Terminal allowed for very basic transactions to occur, in the form of an on-line crypto-wallet.

Boardwalk
In June 2017, Boardwalk was released, allowing users to do business with one another, post, accept, and negotiate offers for services. The offers could be chosen based upon geolocation which was provided by users' browser data.

Storefront
Still in development, but will create unprecedented entrepreneurial as well as market disruption opportunities for anyone interested.

Project Difficulties
In July 2017, a hacker conducted the second largest crypto-currency theft to date, making off with more than $31 Million US Dollars worth of Ethereum. This was done through an exploit against the default smart contract provided to users of the Parity multi-signature wallet on the Ethereum network. All the funds were not solely that of the Swarm City Team however, it was assessed that a majority of the core team's funds were stored thre, putting the project at risk. Fortunately, the team proved to be highly dedicated and continued working on the project.