Is Initiative Q, the Next Bitcoin?Richard Ogunsola
A few days back, a synopsis was done on Bitcoin’s 10years precipitous journey and the possible future of Blockchain technology. A decade down the line, a lot of people are still biting their fingers in regret for missing the crypto early days.
However, there seems to be another rising star in the east, which Magis world over are beginning to embrace and drawing the attention of others to. Could Q be the rising star that would usurp the flawed King (Fiat currency) and successfully rival Bitcoin?
The Q token is a centralised private currency issued by Initiative Q. Initiative Q is the creation of Saar Wilf, a serial entrepreneur cum Fintech expert who had his first payments start-up in 1997 and later founded Fraud Sciences, a firm which redefined the payment security space and was later acquired by PayPal in 2008. The economic and monetary models were developed with CATO Institute economist Lawrence White.
Q hasn’t even been launched yet for mainstream use and not even exchangeable on the Initiative Q’s own servers, but it already has a reputation that two million people plus, from over 180 countries have already signed up to use the network once it launches.
It has been flagged as possibly ‘the next Bitcoin’ by certain members of the press (Forbes, Google search etc). Albeit, Initiative Q is not a cryptocurrency, as Wilf confirms.
“The main attribute of cryptocurrencies is the fact that they are decentralized and “auto-govern”. Q, on the other hand, will be centrally managed by an independent democratically-elected monetary committee separate from the Q company.”
Two trillion Qs will be issued over the course of time — 80 percent of which will go toward incentivizing people to sign up for the network; 10 percent to the Q payment company; and 10 percent to the Q monetary reserves. More Qs will be issued after the first round is distributed.
Its proactive and massive marketing methods are arguably something Cryptocurrency should try to emulate and build upon. Thus far, none of the major digital currencies have solved the problem of ‘Mainstream Adoption’. As they haven’t gained acceptance beyond the small clique of “technology enthusiasts”
“Initiative Q is growing based on a brilliant social marketing scheme. They are growing the network rapidly, and I can see this as a self-fulfilling prophecy of a new payment system as they will have an enormous number of global users.”
Important Titbits to know about Initiative Q
- Initiative Q dubs itself as “tomorrow’s currency” “WE’RE BUILDING A NEW PAYMENT NETWORK, AND THE ONLY WAY TO DO THAT IS TO DISTRIBUTE IT TO PEOPLE”
- It’s by invite only and there is a limited number of invites. The only way to accumulate Q at the moment is through referrals. You can’t currently buy them.
- Q is currently not worth anything, but Initiative Q is hoping that eventually one Q will be worth a whopping $1 (ie. 1Q =$1). It says that it’s offering free Qs to early adopters to build up the network,
- The earlier people join the network, the higher their reward will be — the more Qs they will receive (the amount drops as more people join — so better to join early).
- Initiative Q denies all claims that it’s a scam. The founder has stated unequivocally that it wasn’t a pyramid scheme: “The key differentiator is that the potential future gains are a result of the currency becoming widely adopted, not from newcomers paying to join.”
- The strategy is fascinating: Sign up with just your name and email, and you get various Qs (which the site regularly likens to dollars). Invite more members, and your Q count increases.
How to join
- Go to Initiative Q page.
- Click on ”Reserve your spot”, Register and get your registration Approved (this is so it can be sure real people are signing up.)
- Share your referral link to earn more Q tokens.
- Don’t forget to review and approve the participation of your referrals in your Dashboard to receive the referral reward.
- The Q you’ve built up will be ‘gradually released’ to you if and when the payment network is up and running in the near future.
There’s nothing to lose but if this payment system becomes a world leading payment method your Qs can be worth a lot. If you missed getting bitcoin seven years ago, you wouldn’t want to miss this.
9jacashflow won’t claim to tell you what to do with your money, time or other resources by compulsion. If you want to sign up and potentially be in the digital money millionaire class, then go right ahead, but as with any investment, be cautious about what you are signing up for and read everything carefully.