Zantepay is yet another Estonian-based fintech/cryptocurrency wallet project planning to integrate Mastercard and maybe some other ‘cards’ as well. It claims Zantepay users can spend their cryptocurrency anytime and anywhere. This sounds geeeenius, hey, this is so awesome, because absolutely no crypto startup is doing this already, right? Where can I throw my monies at, please?!
Before we go in for the kill, let’s talk about some ZantePay features. So basically as it says on their webpage that you can spend several different cryptocurrencies using their card, reading: “Pre-paid card which the users can utilize to spend their Bitcoin, Ethereum, Litecoin, and Zantecoin straight from their wallet”. They claim Zantepay will solve many problems, like cutting away exchange fees for example.
Basically that’s about it. They have no original idea, but they still want money for it, like 8-9 figures, just cuz’. They want to do something everybody in crypto fintech is doing already. Even some hardcore cryptoteams, like for example, I don’t know, the entire Cardano Team – completely clown-free team with real scientists, solving a real problem. Too bad ideas can’t be protected from theft.
When I read their public releases and paid “ICO Reviews” from ICO-shillers online, most of the talk is about their ICO token metrics, and here everything becomes just plain nasty. Their Pre-ICO started today, so we might be little late (I’m definitely not going to add ‘to the party’). Investors can buy erc20 tokens, no surprise there. There will be 600M tokens available til 15th July and this is 30% of the token supply with another 600M coins put aside for marketing expenses. Also 800M coins will be spent developing those awesome Zantepay products.
So quick calculation says they plan to have like 300 million valuation after the ICO, with team getting most of the money to play around with. I say this is ridiculous and our review should end here. This is another example of what is wrong in crypto; that projects like those are even out there and people are talking about them. Actually this is quite disgusting, but people are buying those tokens and while I’m writing those lines, there is over one thousand ETH already invested in the project.
I’m managing many webpages and buying content quite often. So every time I buy new articles, I check them with Copyscape just to make sure my authors are doing decent job and not just copy-pasting stuff. I almost never get any warnings. And when there is a warning from Copyscape, it’s always quoted text with a link. Sometimes authors rewrite articles and there will be some flags. Those articles might need some extra work, but they will eventually pass.
Ok, done with the intro. Let’s check Zantepay whitepaper… And this where Copyscape goes crazy, nuts. Mental.
Some of the Copyscape warnings were from Zantepay’s website itself, so we ignore these, but let’s carry on and find out where their whitepaper actually comes from. Ok, not a good start – this sentence from whitepaper is originally from Forbes, copy+paste:
Now let’s go right to the next one:
“The Distributor considers this as a testament to the fact that Cryptopay wants to be transparent and inclusive for the community at large, which Cryptopay perceives as its most valuable asset.” https://ico.cryptopay.me/ico_cpay_wp.pdf
“The Distributor considers this as a testament to the fact that ZANTEPAY wants to be transparent and inclusive for the community at large, which ZANTEPAY perceives as its most valuable asset.” https://zantepay.com/storage/Zantepay_Whitepaper.pdf
Did you see it? I translate: THEY COPYPASTED CRYPTOPAY’S WHITEPAPER! List of flags is endless. We are not going on much deeper here, I will just show you the list, where you can see more original sources for the whitepaper, so you can get the idea. In addition to this full project being copycat weak bullshit, it’s basis/whitepaper is full of stolen content from other projects. Kind of makes me regret spending 39 cents on the Copyscape search. What a waste.
I would also like to add a short story and photo about their CEO and founder, Mardo Soo – Second Arrest Made for Violation of Peddler’s Ordinance. What a shitstorm.
So, this guy wants 300 million dollars from you. I’m done.