Zubicoin, found online at Zubicoin.com, aims to be the preferred token for the gaming and adult entertainment industries. Find out how it works today in our review.
What is Zubicoin ZBC?
Zubicoin is a digital currency that doesn’t appear to have any real purpose. The creators of the ZBC token claim the token will be usable within the Zubicoin Network, described as “a new, private, and secure platform that offers an integrated decentralized market.” However, that marketplace is not yet available online, and it’s unclear how the market will work in the future.
The goal of Zubicoin is to create a digital currency for the gaming industry and adult entertainment industry. Obviously, these are two enormous industries.
Today, digital currencies like bitcoin are already used in adult entertainment and gaming. Why do we need a separate digital currency? I’m not entirely sure.
The Zubicoin ICO is taking place from January 20 to March 31, 2018.
The ICO has plenty of red flags telling us it’s an ICO scam. For example, the company is selling tokens for $0.50 today, but claims investors can expect the tokens to be worth $28 before the end of the year. When a company sells tokens to you with specific price expectations attached, it’s a sign you’re probably dealing with a scam. The team information is also a mess – multiple team members are listed under stock businessperson images and fake names.
Let’s take a closer look at how Zubicoin works.
How Does Zubicoin Work?
There’s limited information about Zubicoin’s business plan available online. The company’s main product is its ZBC token. There’s a total supply of 100 million ZBC tokens.
Zubicoin claims 150 companies have already approved the use of ZBC tokens on their platforms. None of these companies are listed on the Zubicoin.com website.
The whitepaper features no technical information about ZBC or how it works. We have no explanation of why it’s superior to better known digital currencies like bitcoin or Ethereum. In fact, the whitepaper mentions just two main functions of Zubicoin:
“In-system tokens to be used by consumers”: Tokens will have an “innovative incentive program” that rewards consumer behavior. “Put the power back into your hands”: ZBC tokens are built with security in mind, and users control their own tokens.
What do either of these functions mean? I don’t know. The team is clearly hoping that nobody takes a close look at their whitepaper or business model.
Overall, the whitepaper is filled with vague, technical terms like “segregated cloud server environment” and “anonymous transactions globally”.
The Zubicoin ZBC ICO
Zubicoin is very clearly a scam. However, if you feel like donating your money to a team of scam artists, you can do so during the Zubicoin ICO, which takes place from January 20 to March 31, 2018.
70% of the total supply of 100 million tokens will be available during the ICO. The remaining tokens are reserved for the team and advisors (10%), “the anonymous network” (14%), and “for the company” (6%). No further details are given about any of these allocations.
The tokens are being sold at a price of $0.50 = 1 ZBC during the ICO.
If paying $0.50 for a value-less digital token sounds expensive to you, then consider the fact that Zubicoin believes tokens will be worth $28 before the end of the year – so you’ll multiply your investment by 56x.
Who’s Behind Zubicoin ZBC?
Zubicoin is a blatant scam. One of the easiest ways to spot a scam is by checking the team section. Zubicoin has a team section that is literally filled with stock images of businesspeople. The images are cropped incorrectly, and all of the images can be easily reverse searched to reveal the fraud.
Robert Ken is listed as CEO and founder. His listed work experience includes work at Google, HSBC, and Bank of London. All of it, obviously, is completely fake.
I won’t bother mentioning the other team members because they’re obviously fake as well.
Zubicoin ZBC ICO Conclusion
Zubicoin is one of the more obvious ICO scams you can find online. The company has no business model in place. They aren’t selling any products or services, nor are they solving any problem whatsoever. Instead, the company is selling value-less digital tokens at a price of $0.50 apiece, desperately trying to convince investors that they’ll be worth $28 per token by the end of 2018. The team information is also filled with stock images and fake names.
For all of these reasons and more, Zubicoin is a blatant scam you should definitely avoid.