Initiative Q is a digital financial solution that has been established to create a global currency in simple steps. But before we delve into these steps, it is prudent to first examine the premise as well as the currency take-off point. Unlike many digital coins today, the Initiative Q project isn’t necessarily a crypto-token and they are not running an ICO. As the team says, “we don’t want your money, we just want you to join.”
The project simply requires people to join using email or social media accounts and get some allocations of the ‘Q’ currency of the future. You can get to earn more by completing some set tasks such as sending out invites for more people to join the platform.
As stated by the team, initiative Q is a worldwide economic experiment that aims to overcome barriers standing in the way of modern digital payment systems hence its implementation of a mass distribution strategy so that many people can join to help with wider adoption.
Existing popular digital payment platforms such as Visa, Master card, PayPal and the likes were developed decades ago and are beginning to fall short of a rapidly developing digital market place and not being in-tune with today’s market demands and tech. Studies have shown that these platforms are vulnerable, relatively slower, complex and have high transaction fees. In light of this, some of the world’s best brains have come up with better systems of transactions such as modern-day cryptocurrencies – the question now then is, what are the factors mitigating the wider adoption of these new and better systems? Initiative Q believes that it is the classic ‘chicken and egg’ situation as no seller would want to sell to a new crop of buyers with a new payment medium and no seller would want to offer a new payment system that no buyer would be using – this is where Initiative Q aims to plug-in.
The Initiative Q project is creating both a payment network and currency and according to proven economic models, the value of a currency is proportional to its use – this is why the team is making efforts to make Q widely adopted and spread and this has the potential to create Trillion-dollar market cap for the currency. The team has therefore set off on a drive for free Q distribution to get people to join early thereby giving the early adopters leverage. With more people enrolling to get Q allocations, an ecosystem is created, an economy begins to develop around it and this the project team hopes would create value and usability.