There's something wrong here.
(No known Symbol) is an ICO
currently happening that appears to be rather solid. In fact, it's the most solid ICO we've ever seen. They are on top
of their game. Their Whitepaper
is informative, detailed, and something that they openly advertise. Their website, while featuring a countdown that causes us to be skeptical, is informative, full of features, and full of ideas. So what is about TokenPay
that we dislike so vehemently? It appears to represent the first of what will be many
attempts to unite cryptocurrencies
with the old-school banking cartels that have dominated the globe for centuries. This is something of which we disapprove adamantly
Privacy, paper wallets, Tor-integration... TokenPay honestly seems to have it all. Its developers and management are open and publicly available, using their real names, and all of these things instill confidence. So there is only Extremely Low likelihood of this proving to be either a scamcoin or a shitcoin. They appear to be very on top of things, and working hard to ensure the ICO runs smoothly.
Many statements on their website raise red flags for those of us who have (rightly) developed extreme suspicion regarding everything to do with traditional banks, and their goal of fostering international transactions is something that cryptocurrencies already do naturally and endemically. The whitpaper is filled to the brim with disclaimers, warnings, and legalese, all of which begins to shed light on what TokenPay is actually up to.
It's nothing more than an attempt to unite cryptocurrencies with the old school banking cartels.
This is both unnecessary and undesirable, and we will grade them an F accordingly.
Investigation Results (10 December 2017)
Utility: Medium (Potential)
Coinomi Support: No
Whitepaper Availability: Yes
Management Availability: Publicly Available
Birth: Not Yet Born
Scamcoin Likelihood: Extremely Low
Shitcoin Likelihood: Extremely Low
Although the ICO
checks out as stable, open, reliable, and sound, this is the first whitepaper
we have observed that is seventy pages long
and contains a frightening number of disclaimers, all of it written in legalese. Additionally, the states goals of the whitepaper are alarming, and undesirable for the majority of people who love the idea of cryptocurrencies
and what they are attempting to do. TokenPay's goals appear to be directly counter to the goal of most cryptocurrency advocates, and we do not need yet another
attempt to create platforms and point-of-sale system integrations. Their ambitions are matched only by their use of legalese, and time will tell whether they are able to fulfill these ambitions or not. We would not recommend participating in this ICO, because we oppose them ideologically.