Mobilink Coin ICO – Too Many Red Flags
– Their white paper only talks about the ICO and brags how the price of the coin will go up in future. There is hardly anything about the underlying technology. We are just told that the company will tie up with other telecom companies and that’s it.
– Where are the licenses? Running a telecom operation in most countries requires a license. Note that the company claims it will be selling SIMs in different countries. The company hasn’t mentioned getting or applying for any license anywhere.
– What about taxes and tax registrations? Selling a service in any country attracts tax and tax registration is mandatory. Where are the tax registrations?
– Where will the voice revenues come from? Ads can be shown while a user is browsing or using an app. However many users will primarily use the service for voice calls. Who will pay for these voice calls?
– If costs of running data services can be recovered from ads, why haven’t the current telecom companies adopted such a model and is there any reason why they won’t adopt the same model in future? The fact is that global online ad revenues are inadequate to finance any global telecom operation. Two-thirds of the global online ad market is directly/indirectly controlled by Google and Facebook. Majority of ad spending is done on Facebook and Google. Rest is too fragmented. It’s a duopoly. The company has not made public any revenues/costs projections.
– I read somewhere that the company will replace ads that users are currently seeing. That is not possible. Using someone else’s content to earn ad revenues is a copyright infringement and illegal.
– Last but not the least. The track record of the main promoters of this company is unknown and unproven. Some of the profiles of its employees are very questionable. The picture used in LinkedIn profile of one of its employees is actually a Photoshop version of a mugshot.
Here is the LinkedIn profile:
Here is the pic:
Here is the mug shot: