Quahl

Short description: Speculative payment network and digital currency

Quahl

Other names| Initiative Q
Initial release| 2017; 9 years ago (2017)
Available in| English
Type| Digital wallet
Website| quahl.com

Quahl (/kuːɑːl/ k-oo-ah-l), formerly known as Initiative Q, is an attempt to create a new payment network and digital currency.[1] It was created by Israeli entrepreneur Saar Wilf, who previously founded Fraud Sciences, a payment security company acquired by PayPal.[1][2][3][4] Quahl is backed by Cato Institute economist Lawrence H. White.[2] The initiative has indicated it will not take measures to evade state regulation.[5]

Quahl’s goal is to not replace payment cards and paper money but to create a new payment system.[6][7] It is “creating a new currency (Quahl) and distributing it to anyone who helps speed up adoption."[6] Quahl is not a cryptocurrency and is not decentralized,[6][8] but will instead be overseen by an independent monetary committee, much like a central bank.[3][6]

## Contents

* 1 Marketing and rollout
* 2 Criticism
* 3 References
* 4 External links

## Marketing and rollout

Registering for Quahl is marketed through multi-level marketing.[9] The currency reserved for registrants will not be released until a critical mass of adopters identify themselves.[3][10] In November 2018, Vox.com reported that more than two million people had signed up in 180 countries.[1] Later the same month, O Globo reported more than five million registrations,[11] and The Times of India reported that countries with large numbers of registrations included India, Brazil, United States and United Kingdom.[7]

## Criticism

In October 2018, Frank Chung of news.com.au wrote that the marketing style could be "perceived as a scam or pyramid scheme"[2] and Daniel Huszák of portfolio.hu compared it to multi-level marketing without the fee.[9] Huszák enumerated potential problems with the scheme such as no clear crypto-currency security measures, unclear transaction/exchange costs, and potential for market manipulation by the largest holders of currency.[9] Owen Gough of Digital Spy wrote "Is Initiative Q real or fake? Short answer – we have absolutely no idea."[12]

In contrast, Brendan Markey-Tower, economist at the University of Queensland, said on Stuff.co.nz in November 2018 that it was "not a scam" and that the scheme wouldn't "make you fabulously wealthy. It is, nonetheless, an interesting idea."[8]

## References

1. ↑ 1.0 1.1 1.2 Nittle, Nadra (8 November 2018). "This new would-be currency isn't crypto — but is it for real?". https://www.vox.com/the-goods/2018/11/8/18075816/initiative-q-email-cryptocurrency-bitcoin-paypal-saar-wilf.
2. ↑ 2.0 2.1 2.2 Chung, Frank (29 October 2018). "What is Initiative Q? Payment network insists it's not a 'pyramid scheme'". https://www.news.com.au/finance/money/investing/what-is-initiative-q-payment-network-insists-its-not-a-pyramid-scheme/news-story/193102b9fbb5c35d6365f7f34226908f.
3. ↑ 3.0 3.1 3.2 Baumer, Lilach; Hirschauge, Orr (23 August 2018). "This serial founder wants to challenge Visa through a 'global currency' for the future". TechInAsia.com. https://www.techinasia.com/talk/founder-challenge-visa-global-currency.
4. ↑ "eBay Acquires Fraud Sciences For $169 Million" (in en-US). TechCrunch. https://techcrunch.com/2008/01/28/ebay-acquires-fraud-sciences-for-169-million/.
5. ↑ "Error: no `|title=` specified when using {{Cite web}}" (in zh-hk). CUP Media. 12 November 2018. http://www.cup.com.hk/2018/11/12/will-initiative-q-the-next-bitcoin/.Error:+no+`|title=`+specified when+using+{{[[Template:Cite+web|Cite+web]]}}&rft.atitle=&rft.date=12+November+2018&rft.pub=CUP+Media&rft_id=http://www.cup.com.hk/2018/11/12/will-initiative-q-the-next-bitcoin/&rfr_id=info:sid/en.wikibooks.org:Software:Quahl">
6. ↑ 6.0 6.1 6.2 6.3 Gusmão, Gustavo (14 November 2018). "Saiba o que é Initiative Q, projeto que promete dinheiro virtual de graça" (in pt). https://exame.abril.com.br/tecnologia/saiba-o-que-e-initiative-q-projeto-que-promete-dinheiro-virtual-de-graca/.
7. ↑ 7.0 7.1 Mishra, Digbijay (29 November 2018). "20% of signups for new digi-currency from India". https://timesofindia.indiatimes.com/business/india-business/20-of-signups-for-new-digi-currency-from-india/articleshow/66860027.cms.
8. ↑ 8.0 8.1 Markey-Towler, Brendan. "Initiative Q is not the new Bitcoin, but here's why the idea has value". https://www.stuff.co.nz/business/opinion-analysis/108380918/Initiative-Q-is-not-the-new-Bitcoin-but-heres-why-the-idea-has-value.
9. ↑ 9.0 9.1 9.2 Huszák, Daniel (31 October 2018). "Megőrül az internet az új fizetéses MLM-rendszerért - Kamu lenne?" (in hu). https://www.portfolio.hu/vallalatok/it/megorul-az-internet-az-uj-fizeteses-mlm-rendszerert-kamu-lenne.302726.html.
10. ↑ Kelly, Jemima (26 October 2018). "Initiative Q: an elementary pyramid scheme with grandiose ideas [Update"]. https://ftalphaville.ft.com/2018/10/26/1540526405000/Initiative-Q--an-elementary-pyramid-scheme-with-grandiose-ideas/.
11. ↑ Matsuura, Sérgio (14 November 2018). "Initiative Q reúne 5 milhões de cadastros com promessa de dinheiro grátis" (in pt). https://oglobo.globo.com/economia/tecnologia/initiative-reune-5-milhoes-de-cadastros-com-promessa-de-dinheiro-gratis-23233813.
12. ↑ Gough, Owen (2 November 2018). "What is Initiative Q: Is it the new bitcoin, or just one big fake scam?". http://www.digitalspy.com/tech/news/a869483/what-is-initiative-q-bitcoin-real-fake-scam/.

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