Project Ethereum – Promising Cryptocurrency MLM Program?
Project Ethereum is an Ethereum-related multilevel marketing company that claims to build wealth and humanity worldwide. Here’s our review of everything you need to know about Project Ethereum.
What Is Project Ethereum?
Project Ethereum, found online and describes itself as “your gateway to spread wealth & humanity around the world”. In pursuit of that goal, Project Ethereum has partnered with Choice Humanitarian, a global charity organization that’s been active for 35 years.
With the help of Choice Humanitarian, Project Ethereum wants to send people on “Expeditions” where they eliminate extreme poverty around the world.
Users can go on expeditions with Project Ethereum through one of the organization’s membership rewards programs, or by signing up directly for an Expedition through Choice Humanitarian.
That all sounds good. However, Project Ethereum’s benevolent goals appear to be a front for a multilevel marketing company. That company is designed to collect donations in the name of charity, and then funnel most of those donations through a pyramid-like scheme.
Confusing matters further is the fact that Project Ethereum is not affiliated with the Ethereum cryptocurrency project in any way. In fact, it’s unclear if Project Ethereum uses any blockchain technology in any way (aside from using Ethereum tokens as a currency).
Don’t confuse Project Ethereum with the Ethereum cryptocurrency project. They’re not linked. It appears a group of people wanted to take advantage of the hype around Ethereum, then use that hype to launch their own cryptocurrency.
Project Ethereum claims to want to use the power of the Ethereum blockchain to eliminate poverty worldwide, but it’s unclear how the blockchain is connected to any part of the organization.
Project Ethereum doesn’t appear to be directly affiliated with the Ethereum cryptocurrency or blockchain. The one connection is that Ethereum tokens are used as a currency. Project Ethereum is a third party that appears to work as a combination between a charity and a multilevel marketing organization.
How Does Project Ethereum Work?
By becoming a member of Project Ethereum, you enjoy access to certain benefits. Your Project Ethereum membership includes:
- No qualifiers
- Forced matrix
- Automated upgrade
- Complete team building concept
- Up to 510 direction donations to you every month
- Start receiving donations with just one person in your organization
- Receive real information through Crypto University’s social media hub
- Opportunity to work with Choice Humanitarian and join on real expeditions around the world
A Project Ethereum membership costs $90. When another member joins after you, you receive a direct donation of $90 (regardless of who invited that member). Then, you receive a second donation and donate the first two donations.
Eventually, as your network continues to grow, you donate half your donations from stage 2, and then start keeping donations for yourself.
As you continue to upgrade, you continue to donate less money and keep more money for yourself. By the time you hit stage 3, you’re receiving $2880 in donations ($360 from each member). You donate $900 of those donations and keep $1980 for yourself.
Once you’re on step 4, you’re receiving $14,400 in donations. You donate $1800, then keep $12,600 for yourself. There are 7 levels in total.
Ultimately, there appears to be few tangible products and services available as part of your membership. Project Ethereum claims you can access their “University”, for example, which is just a small collection of basic online training materials.
You also have the opportunity to join humanitarian projects – something anyone can do without being a member of Project Ethereum.
What Is Project Ethereum’s Crypto University?
Project Ethereum doesn’t appear to offer any product or service beyond membership. However, members do gain access to something called “Crypto University”. This “University” is basically an online training program filled with information you can find for free online. Topics covered include:
- Cryptocurrencies and how they work
- How mining operations and processes work
- How and why to purchase, sell, and hold currencies
- How to setup and use cryptocurrency wallets
- How blockchain technology works, including transaction IDs
- How smart contracts work
- How to use a cryptocurrency exchange
Ultimately, all of this information is covered in basic cryptocurrency guides available for free online.
Who’s Behind Project Ethereum?
There’s virtually no information about Project Ethereum’s founders or company history available online. All we really know is that the company was founded by John Johnson. That may sound like a fake name. However, the picture below that name is attached to a real John Johnson from Salt Lake City, Utah.
Prior to launching Project Ethereum, John worked in business development, appraisals, and mortgage loans.
In terms of cryptocurrency experience, the official Project Ethereum website describes how “John was previously working within a crypto currency platform and realized there as [sic] a better way to assist members on building ad [sic] receiving donations.”
There is no further information about the team behind Project Ethereum, or where the business is located. The founder’s LinkedIn page, however, places him in South Jordan, Utah, which is part of the greater Salt Lake City area.
The ProjectEthereum.com website was registered on April 9, 2017. The site is hosted through HostMonster.com.
Project Ethereum Expeditions
Project Ethereum has partnered with Choice Humanitarian to give its members the opportunity to enjoy expeditions around the world. Choice Humanitarian has been working to eliminate poverty since 1983 under the direction of James B. Mayfield, PhD, an expert in international rural development.
Expeditions take place in rural communities where villagers live on less than $1.90 a day. The charity wants to empower rural communities “to create their own vision out of poverty.”
Choice Humanitarian describes its expeditions as “a rare opportunity for solo travelers, families, friends, and entire organizations to step out of their comfort zone and support one of our community managed projects abroad.”
During an expedition, you spend a week in a rural community classroom, community center, or village home. You eat well and work hard while supporting community-managed projects. You might be building classrooms, hospitals, or water systems, for example.
Expeditions take place in 7 countries worldwide, including Mexico, Guatemala, Ecuador, Peru, Bolivia, Kenya, and Nepal.
Expeditions cost about $2200 USD for one week, which does not include airfare. It’s unclear how much of a discount you receive as a member of Project Ethereum – if any. However, expeditions are open to the general public. As long as you have the money, you can go on a Choice Humanitarians expedition regardless of membership.
Should You Join Project Ethereum?
Project Ethereum appears to be a pyramid scheme that’s taking advantage of the Ethereum cryptocurrency. The project mentions how it wants to help create wealth “financially, as well as emotionally”, and claims that its members can make up to $4.8 million per month in Ethereum donations.
The problem with Project Ethereum is that there doesn’t appear to be any real product or service offered: the company gives you some basic online training materials about cryptocurrency and how it works. You also get the opportunity to join humanitarian expeditions led by Choice Humanitarian.
However, anyone can join expeditions without being a member of Project Ethereum, and the online training materials don’t provide any unique insight into the world of cryptocurrencies.
There’s also the fact that there’s virtually no information about the team behind Project Ethereum.
Ultimately, due to a lack of transparency and a shady, pyramid scheme-like business plan, Project Ethereum is one organization you should probably avoid – at least until more information comes out.