Initiative Q: don’t you Go ahead over, no Q

Contents page 1 — don’t you Go ahead, pull no Q page 2 — no more than an idea On a page

read It can be a success story. Or a big fraud. What is already clear: The history of the still non-existent, payment by means of the Initiative, Q is already a great Marketingcoup.

it All began in June of 2018, when former Paypal employees Saar Wilf has started a new payment network: Initiative Q. It should form the basis for a new digital currency called Q. In order to move as many people as possible to Join in, decided to Wilf and his colleague Lawrence White, the Q-coins for free. Anyone who is interested, must specify on the website, only the name and E-Mail address, then he receives a certain number of q. registered people will get an additional five Codes with which your friends can invite. Enter the number of your data, you must verify the logged-in Person the identity of these people. Then there’s more Q for the Welcoming. Anyone can join, without large use, without a large risk. The earlier it is, the more Q you will receive.

With this strategy, the Initiative has Q according to their own information, more than four million people worldwide to submit their data for a few digital coins. This number impressed due to the shortness of the time, the makers have achieved. It is also impressive given the fact that there is no currency Q. The System itself was not yet developed, no test environment, it says of the Initiative, Q to Mashable. The money should only be created when enough people have registered. A specific brand to be exceeded, not to mention the initiators, on the Website it says only that there should be tens of millions until the mid-2019.

Q should not afford what Bitcoin is able to today

The makers say: the Only way to solve the typical chicken-and-Egg Problem of a new currency, because they know this even before the development of a wide acceptance. This is a Problem that even the most well-known crypto-currency in the world, Bitcoin is not solved until today and, therefore, not enough user; of the high transaction costs and the long transmission paths apart.

The critics say: Initiative Q is a snow ball system, which is through new applications. Still there is no product, therefore, Q as a means of payment. The financial expert Michaela Hönig, Professor of business administration at the Frankfurt University for Applied Sciences, referred to Q as a game of money.

behind Q so a long-awaited digital means of payment? Or a Scam?

© Michael stern Lisa Hegemann

editor in the Department of Digital, TIME ONLINE

to the author of the page

are Actually about the further plans of the digital means of payment is little known. Initiative Q wants to build, according to the Website, an App, with the help of the user, in shops or on the Internet can pay, comparable with the Features of Apple and Google. Multi-factor verification to protect the account against misuse: fingerprints, microphones, face recognition and friends. They wanted to also make use of current encryption technologies. Which are meant, not the creators explain. Local agents to secure the money of their clients and customers and local businesses connect. To this point, a detailed description of but.

The Initiative Q tried to reassure the skeptics, with long answers to the FAQ on the Website. In short: no, you build not a snow ball system, you will grab no data, there is no risk when you Join. Responded to the accusation of pyramid scheme founder Wilf says to Vox.com that it was normally to the shift of money. The rate of return, such as that of the shareholder of a company receives, will then be funded with the money invested in a new shareholder. Because there is no money, could not walk from one user to another, says Wilf. What he and his colleague are currently operating, ordinary Marketing.