An Update On Initiative: Q
Updated: Apr 3, 2020
The following is an article “An Update On Initiative: Q” by Marc Primo.
For something that has yet to get off the ground, Initiative: Q, the startup that is enticing individuals to sign up early via a chain method of invitations with the promise of “free” cryptocurrency, sure is making a lot of noise despite nothing solid to show as of this writing.
A quick update on Initiative: Q
According to its official Twitter account, Initiative: Q is “a modern payment network that will aggregate the best tech to make a new global currency, overcoming the adoption barrier by offering free Qs”. Since around May of this year, its founder, former PayPal employee and Fraud Sciences founder Saar Wilf, has circulated an invitation online to sign up for Initiative: Q, free of charge while encouraging them to pass the invitation on to their friends and relatives so that an unspecified number of users can be reached to make the initiative feasible.
However, after announcing in November that at least two million people from nearly 200 countries have already signed up Initiative: Q, it has yet to offer its early “adopters” a new cryptocurrency or blockchain, despite being labeled as possibly ‘the next Bitcoin’ by some tech observers and members of the press. That said, Initiative: Q has succeeded in proving two things: first, its aggressive and novel marketing strategy to generate hype among potential users proves that there is excitement for crypto, and second; Bitcoin is still largely misunderstood by the general public who perceive it to be the holy grail of crypto and a simplistic “get-rich-quick” program.
The general pulse on Initiative: Q
A quick review of what tech pundits and netizens in general are saying about Initiative: Q on Twitter since news of its lofty ambitions went viral provides a better picture and overall sentiment of most people, which could provide an indication of what we might expect from it in 2019:
“Stability in currency exchange seems to be the new goal. This way, people will be willing to use new currency. That makes some sense.” ~ AlfonsoQ14
“What is Initiative Q? Considering its launch timeline, will it see a light in highly competitive Fintech and payment industry? Or Is it just a me-too payment product?” ~ Appristine
“It might be rubbish, but it might also become bigger than PayPal: Initiative Q.” ~ MarijnWillemse
“I just realised that inititaitive Q is literally a crazy long queue waiting for money that will never arrive.” ~ Timccopeland
“Scam Detector: #InitiativeQ – Nonsense spreading like a virus.” ~ Widell_ari
Not surprisingly, public opinion is divided on something as alien and unfamiliar to most as Initiative: Q. Reputable news sources such as the Financial Times and Mashable have dismissed it as pyramid marketing.
This is something that Wilf strongly and consistently denies, stating, “The key differentiator is that the potential future gains are a result of the currency becoming widely adopted, not from newcomers paying to join.”