Unless you were living under a rock last October and November, then you probably saw a ton of posts about Initiative Q – you might have even signed up to it. However, 9 months on and all the hype has disappeared, with barely any posts or news about the project that promised to change the world and make everyone wealthy beyond their wildest dreams. So, what has become of this project that made such grandiose claims?
In Truth, Not Much
As expected, it looks very much like Initiative Q was a marketing stunt or drive to build a database of people interested in cryptocurrencies and a new global payment system. Initiative Q’s Facebook page was silent from December 2018 all the way until March 2019 – not even a happy new year post. Then, in March Initiative Q launched its app, but it was far from the great success the team had hoped. The official notice received only 39 shares on Facebook, compared to the thousands of shares the original post received. For now, the app lets users manage their invites – that’s it.
Sounds Dodgy, Right?
After gaining your email address and a password, Initiative Q wants you to download their mobile app that does virtually nothing. Mobile apps have the ability to snoop on your activity and report this back to the app developers. This fear is beginning to plague the minds of people using the app, as people begin to wonder why Initiative Q decided to launch an app that’s not finished – it makes no sense. If this hasn’t got your scam senses tingling, then you need to brush up on how to spot a crypto scam.
Still Drawing in New Users
Initiative Q touted itself as a financial experiment, and so far, an experiment is all it has been. In the first 2 months, 5 million users signed up with the hopes and dreams of becoming crazy rich. Then, over the next 6 months only 2 million users signed up – talk about the hype dying out. Even though the new user acquisition rate is dropping, it’s still managing to draw in new users. If it can develop some form of payment system, it already has a huge number of users – great news for the sales team when it comes to onboarding merchants.
For now, it looks as if Initiative Q is still a big mystery – exactly the same as it was back in November 2018. Unless we start to see more information coming out from the project – or at least a beta platform to test on – then we will probably see Initiative Q slink away into the shadows with an absolute ton of personal email addresses. Could this be the exit scam of the century?