Q Initiative, A Bitcoin Successor? | Forbes France

Initiative Q requires some digital information, which many Internet users share without problem with many companies, some of which use much lower privacy policies

 

Although it is always important to think carefully about any financial decision that is proposed, a company can not exist as a pyramid system without information (even less without money) to be transmitted up the pyramid. The reality concerning this company is much less controversial than the cynics would have us believe.

Money simply does not have value without a perceived value:

it is the case for dollars, books, and any other currency. Other opportunistic companies like the Dogecoin have created something of immense value against all odds. It is therefore not impossible for Initiative Q to follow the same path.

According to Saar Wilf, the founder of Initiative Q, ” It’s not about any dubious combination to get rich quickly, and I think that’s where the confusion comes from. We have to reach a critical mass to create a currency, and that’s what we’re trying to do . ” Wilf is the creator of integrated online transaction verification and fraud prevention systems later purchased by Paypal, and for him, Q is possible, but not inevitable.

” The world needs a better payment system, ” he said, ” we are entangled in existing infrastructures, and the only other solution would be to turn to cryptocurrencies, which, in my opinion, do not respond. to the real problems. Cryptos, like all currencies, have built their value on trust, but are cut off from governments. This gets around the system, which can be as bad as it is good, as many probably realize. We want Q to become something common, and that’s why we distribute it for free for those who want to advertise it . “

 

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” Nothing has value until the population adopts it, so our strategy was clear. Winning user trust has always been and always will be our biggest challenge, but we will never abuse it. We plan to adhere to regulations while making things much more efficient than they are now . “

” We want to both facilitate and speed up the financial procedures so that people can pay for a meal as they pay for an Uber trip, and use artificial intelligence to allow families and businesses to share accounts. We want to create an international currency that can be exchanged and shared without the improper procedures that are currently in place and cost so much time and money. We want to use technology to make transactions smarter and more secure . “

Some financial experts are not convinced, however.

According to Mike Rymanov, CEO of Digital Securities Exchange (DSX), ” the greed and low perceived risk will likely attract many users, but since it is more of a technology than a payment network , they will finally be disappointed to see their mailbox fill up with spam and their accounts remain empty. Initiative Q tries to justify its existence and its marketing approach with a theatrical launch, but it lacks two key elements: a real product, and a regulatory control. Before it can become a viable option for investors, the company will have to ensure that it meets all the requirements of all the jurisdictions in which it operates, which can take and take years. For now, it’s just too early to commit . “

Rymanov is not mistaken: Initiative Q, which currently has only 8 employees and no real money, is not really the ideal opportunity to get rich quickly. But that’s not why it should be forgotten.

Like any digital evolution, nothing is done in a day. The value of a Q, which the company hopes to achieve is a dollar in ten years, and depends on who evaluates it. The Initiative timetable does not provide for anything, hopes for everything, yet is committed to using the latest technologies to bring out a new global currency. The ability to create Bitcoin, but better : is not it worth an email address after all?