Equibit

Decentralized Securities Platform

On the Fence with this one

Decentralized Securities Platform or a Ponzi?

These guys are all milks and honey: “EDC has designed and built a public blockchain we call Equibit; a peer-to-peer network for creating and transferring securities. This allows issuers and investors anywhere to instantly transfer title to cryptocurrency tokens called ‘equibits’ without any reliance on a transfer agent or central depository… and at practically no cost.”

Than, “Equibit operates day and night all over the world, 24 hours a day, 7 days a week, 365 days a year! Wherever you have an Internet connection you can securely transact with anyone else using Equibit. With settlement times of 10 minutes or less, you’ll never be left waiting to complete a trade.”

Even more so: “The Equibit blockchain is built on world-class security, using encryption that matches or exceeds most financial institutions. It allows for the creation of unforgeable securities and an incorruptible chain of custody. Therefore you can be confident that your assets are secure against attackers.”

But why are we wary of the Equibit’s brutally efficient marketing? At the time of writing this, March 10, 2017, Equibit’s crowd sale, initial coin offering is ongoing. They use the same old tactic playing on “missing the boat” sentiment and are pricing their unproven platform at an insane price.

Equibit Ponzi

Should you wish to consider investing in their cryptographic tokens, Equibits (“EQB”) you can go to their ICO site and enjoy the ticking clock. The personification of the biggest asset and the biggest danger Equibits represent is their CEO, Chris Horlacher:

“Chris began his career as an auditor at a Big 4 firm and before the age of 30 was the CFO of a start-up stock brokerage that now manages over $4 billion in assets. He went on to found his own management consulting firm and has been instrumental in numerous successful multi-million dollar start-ups and strategic initiatives for Canada’s largest companies, SME’s and non-profits.

He also serves as Vice-Chairman of the Ludwig von Mises Institute of Canada, a research and educational charity focused on the field of Austrian Economics. Possessing Chartered Accountant and Chartered Professional Accountant designations, Chris is certified by the Canadian Securities Institute as a partner, director and chief financial officer.”

Where is he going to take the Equibit is everyone’s guess. The structure of their ICO put them on our radar. You research them on your own, decide and act accordingly. Hey, you might end up losing 100% of your money but they also might end up being bigger than NYSE. Sweet dilemma, isn’t it?

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