Is BlockAIp SCAM Or NOT?
Today, in our review we will look at quite new but already popular project called BlockAIp. According to the BlockAIp ICO website, it is a social networking and media platform powered by blockchaain and backed by cryptocurrencies which will operate in conjunction with self-taught AI. Furthermore, there will be options to buy, sell or exchange cryptocurrencies available on the platform and also users will be able to borrow money from the platform collateralized with several cryptocurrency assets.
The BlockAIp team has launched ICO a month ago in order to finish their “project which will work for the benefit of humanity (quote the BlockAIp developers).”
Thus, our attention will mostly be paid to safety of investment into it and what investors eventually will gain from it.
https://i.redd.it/dnlggadsvwv11.jpg
Advantages And Disadvantages Of The BlockAIp Project
Advantages:
The BlockAIp Blockchain. It is definitely a benefit of the platform. BlockAIp is concerned about security, privacy and decentralization and therefore, due to high-level privacy and data security, users will have an absolute control over their personal information which cannot be shared to third parties or stolen by hackers as a result of blockchain where data is recorded in blocks that are continually updated and kept in sync. This means that only the private keys must be kept safe in order for all of the data on the chain to be secured. This means that nobody have any power over users’ data due to the cryptography which is inherent in the blockchain. Moreover, the BlockAIp blockchain will interact with various blockchains, so that users can monitor their balance, send money and conduct other operations.
AI-Felix
It will serve as a personal assitant like Siri or Cortana. Felix will also be able to make an appointment, book and buy tickets, reserve dinners in restaurants, purchase virtual goods and pay users‘regular bills. Furthermore, AI will be able to type messages, write stories or news, search for friends, groups, events, popular articles, videos, make calls, etc.
A Personal Loan Service
The platform will run a personal loan service in order to make available for users to take a personal loan in fiat(USD, Euro, British Pound, Yuan, JPY, Russian Rubbles) collateralized with several cryptocurrency assets up to $25 000 with low-interest rate.
Media
The BlockAIp platform aims to resolve the ever-growing lack of transparency, rationality and the limitation to freedom of speech. Giving people the ability to report on matters they deem important and wish to communicate to the public. Moreover, the BlockAIp platform will not have an editor; the decision what fits to print is made solely by the community. Furthermore, the platform will incentivize its users to create new content by being paid by the BlockAIp platform as well as users will be able to tip one another for posts or comments.
Disadvantages:
During our review, we came across with the fact that the BlockAIp platform doesn’t use smart contracts. From our point of view it may raise certain questions from investors. However, the BlockAIp team explains it in a way that the smart contract itself isn’t reliable as yet. They remind us the case with The Dao where human mistake in the code proved costly for the users and some hackers exploited errors and stole about $60 million.
Token BAIP
BAIP is the exclusive token of the BlockAIp platform based on the Delegated-Proof-of-Stake (DPoS) algorithm. Therefore, it has to generate an extra 5% BAIP tokens per year. This will be distributed to the platform’s block producers in connection with their confirmation of transactions on the platform. Transactions in the BlockAIp network will not have commissions and will be quickly implemented within a second.
What Does BlockAIp Promise To Investors?
The platform offers to token holders 50% of the revenue derived from all income of the system. As well as, token holders can benefit from token growth. It will be listed on several exchanges simultaneously, which will increase the price of BAIP due to growing demand.
Prototypes
The BlockAIp team has already presented a prototype of social network:
https://i.redd.it/1jinc8ltvwv11.jpg
As Well As A Prototype Presentation Of Their AI – Felix
Examination
This is the most important part of our review in order to evaluate the BlockAIp platform correctly.
We will do our best in order to find out as much as possible with regards the BlockAIp project.
Consequently, we have found that the BlockAIp platform is developed by Blockchain Solutions Company Ltd which has been registered in Thailand in 2015. There is also registration number and address of this company on the following website: http://www.dbd.go.th/Applications/cds/.
Team
Open blockaip.com. There is no reference to any social networks to prove that those people on the website are real. Though, the BlockAIp team keeps saying that they are fighting against lack of transparency, privacy and confidentiality and therefore it could have been illogical to stay with one of the traditional services. It was their own choice not to use traditional social networking websites. Ok, we assumed that it can be true and we respect everyone choice. However, we didn’t want to stop on it and therefore we have searched for the each name that is on the BlockAIp website and we came up with the LinkedIn accounts. That’s what we found.
Ben Scott: https://www.linkedin.com/in/ben-scott-b6825815b
Albert Raud: https://www.linkedin.com/in/albert-raud-b8b25815b/
Alexander Lewis: https://www.linkedin.com/in/edward-min-75825815b/
Edward Min: https://www.linkedin.com/in/alexander-lewis-78025815b/
Lucas Foster: https://www.linkedin.com/in/lucas-foster-bb925815b/
John Bailey: https://www.linkedin.com/in/john-bailey-469398173/
At this stage, we are not able to say that those people do not exist. They all have experience, connections, as well as their previous and current place of work.
https://i.redd.it/mbcoxxouvwv11.png
https://i.redd.it/lfkg2gwvvwv11.png
Yet, We Need More Evidence And What We Found Was An Interview With John Bailey Who Is One Of The BlockAIp Developers:
https://www.youtube.com/watch?v=tUMhWfpO8Ck
We left it for you to watch it and make a final conclusion.
Furthermore, a couple of day ago, we have wrote to support@blockaip.com asking to contact either CEO or CFO. We introduced ourselves as a successful American IT entrepreneur and that he plans to invest a significant amount of money into the BlockAIp project and therefore he is willing to discuss some details over. The response was quick and after several emails from both sides we manage to receive the CEO email. His name is Ben Scott. That’s how we started our correspondence with Ben.
See 1st screen shot
https://i.redd.it/bl0ro5fxvwv11.jpg
We were quite surprised when Ben himself offered us a telephone talk because we have expected him to be upset when we testified in our first email that we are not going to invest to his project because we are IcoChecheker Team and currently, we run an investigation with regards to his project in order to figure out whether it is a real or scam ICO and our story about the entrepreneur was only for the purpose to reach him or someone from the top management of BlockAIp.
See 2nd screenshot
https://i.redd.it/2vqeq95yvwv11.jpg
Finally, we have arranged the time and we had a conversation with Ben Scott. We discussed about the project, plans and aim of the BlockAIp team. Moreover, he has also invited us to meet him at Bitcoin & Blockchain conference which will be held on December 8 in Los Angeles, the U.S.
Overall, we are satisfied with our review and there is no doubt that this project is real. We are glad to inform you that BlockAIp passed our check of ICOChecker.org and gets into the WhiteList of our site. Our personal answer to a question “is BlockAI SCAM?” is “NO”, it is absolutely actual and interesting project.
P.S. Anyway, we will keep an eye on this project in order to keep you informed with the latest news.
LIVE ICO: BlockAIp.com
Source https://icochecker.org/is-blockaip-scam-or-not/
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