Keyword: Initiative Q scam

Is Initiative Q a scam?

Since its introduction into a several news outlets, Initiative Q has been garnering a few buzz regarding its design, purpose, and whether or not it’s a legitimate business venture. If you have yet to hear about Initiative Q, it’s essentially a proposed payment system by Saar Wilf, a serial entrepreneur who founded Fraud Sciences which has since been acquired by PayPal in 2008.

The reason why Initiative Q came into fruition is because today’s modern payment systems are considered obsolete. Financial technology has made improvements with the help of blockchain technology, with over several innovations developed over the past years. Many often wonder why today’s currency handling systems have yet to be as advanced compared to other modern contemporaries, with credit cards, checks, and cryptocurrencies subject to theft, fraud, and costly operations, Initiative Q aims to eliminate these barriers by generating its own form of currency that can be used worldwide.

The fear of an Initiative Q scam

The idea of creating a universal currency is nothing new. In fact, many companies have generated crypto coins in an attempt to make use of today’s digital innovations. These companies have even decided to generate their own coins which serve as alternatives to today’s Bitcoin. While these coins certainly earned a lot of profit in the industry, many are still skeptical because of its decentralized nature and vulnerability to malicious activities. While Initiative Q uses technology to generate its own currency, its priority is to make sure Qs are easily used, stable, secure, efficient, and legal to achieve global adoption.

Since its introduction, many skeptics have voiced out their opinions on Initiative Q and they may be apprehensive about an Initiative Q scam. These are investors that are practicing due diligence to determine whether or not it is a worthwhile investment. This is perfectly normal as every new idea should be subject to scrutiny especially when its website emphasize it’s free.

Diligent Research is Necessary

However, if you’re one of the few who are currently reading up on the proposed payment network’s system and roadmap, it might be difficult to get a direct answer since according to its roadmap, it’s still in the first phase of operations where it hopes to achieve a certain amount of registered users. Unfortunately, not everyone can reserve a slot in Initiative Q since it requires an invitation from a friend who is already registered. While there is skepticism on why this recruiting technique is adapted, it may be possible for creators to emphasize its security while others voice out that this “by invite only” system creates a false sense of exclusivity while simultaneously hoping to be adapted as the new global payment system.

So far, there are no legitimate claims of an Initiative Q scam. Its offer is clear to the point and aside from its strange marketing ploy of invitations only; there is no requirement for anyone to spend any money. It doesn’t operate as an ICO so investors won’t have to worry about losing any asset, and at the moment it is still in its recruiting phase. Since most information is limited and no money is required for get Q currency, there is very little risk involved if you ever decide to take the plunge and ask for an invite from a friend. Just make sure to read up on any groundbreaking news and visit the site often.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes