Today I want to analyse the model of Initiative Q and give you a few arguments for it. But first I want to explain what it is.
What is Initiative Q?
Initiative Q is often compared to Bitcoin but it is not a cryptocurrency. It is a completely new digital currency that is intended to replace credit cards and online payments. As you can read on their Website they want you to sign up and therefor they give you their future currency for free. By sending a link to your friends you will get additionally Q's. And this is how the system works to get as many users as possible. All you need is to give your name and e-mail address.
It is not a cryptocurrency an there is no Blockchain used. They use a tratidional database for manage the payment system and there is no crypto-exchange to buy this currency. Furthermore they say that they will use modern technologies, low fees, a very fast transfer-speed and a responsible management. You will have to buy an amount of Q's that you need for your transaction. Once a transaction begins, agents compete with each other to perform the processing and gain a small fee for it. Anyway, it's all just a plan right now, and the Q's you can collect already aren't valuable yet.
Right now there is a limited amount auf Q's and the earlier you sign up the more Q's you can reserve for yourself. The first thing they want is to preserve purchasing power stability. That mean the Q-holder want to know the Q's don't just change their value. They also want to prevent a possible abuse of companies. For that reason they chose the model of an indepentent currency committee as it is used in many countries. So therefor they can't just make Q's for themselves.
Why we don't lose anything by giving our name and email
One point that critics see sceptical is the collection of e-mail addresses. It could be the case that this data is only collected to be resold later for a lot of money and therefore the Initiative Q would be a big scam.
In europe any sender with advertising purposes can be sued if he sends mails without the express permission of the recipient. This could cost the sender up to 37.000,00 € for one mail. So there will also be fewer buyers of these email addresses, because they are aware of it. And also Saar Wilf (the founder) will know this and therefore this would not be a good turn for him. Of course there is always some trust involved, but what's the point of using a throwaway email address that can be deleted at any time?
The website expressly mentions that there is no guarantee that the idea will succeed. Currently it is only a big plan that could succeed if there are enough people who see this plan as meaningful and possible future and want to support it. Only after reaching a certain number of supporters, the plans can be realized and the Initiative Q has a real chance. And even if it doesn't succeed and the database gets destroyed, what have we lost? A bit of collected, worthless money. Not more.
Since the registration runs via invitations, I want to offer an invitation link to those who also want to support this idea. I don't want to persuade or force anyone. For those who would like to support Initiative Q, please click here.
Let me know after your registration so I can verify you. 😊