New pilot, defective aircraft – Blocktrade with eSync!
Why Blocktrade and its partners are having trouble getting established!
The latest AMA (Ask Me Anything) from Sam Tan, the new beacon of hope at the helm of Blocktrade and eSync, should shed some light on the situation. Tan tried to present a vision for the future and regain the trust of investors. But despite the fine words, the central questions remain unanswered: When will the investors’ money finally be monetised, and what concrete steps is the company planning to take to realise the promised profits?
Vision without substance
During the call, Sam Tan outlined several planned use cases that are supposed to increase the value of Blocktrade and eSync. He emphasised the importance of a robust and trustworthy protocol – characteristics that are crucial in the blockchain world. But this is precisely where the dilemma arises: Hubert Freidl’s company, to which Blocktrade indirectly and inevitably belongs, has not demonstrated transparency or respectability in the past. Instead, its connections to Lyconet/myWorld and other problematic structures are well documented and continue to cast dark shadows over the credibility of the entire network.
The commercial register excerpt with the beneficial owner Silvia Freidl of Blocktrade speaks for itself!
How is Blocktrade supposed to become a role model of respectability? Trust is built through consistent integrity and transparent communication – both of which have been sorely lacking so far.
Old strategies revisited
One of the key projects Tan presented is an affiliate programme designed to attract new users to the Blocktrade platform. While this idea may seem promising at first glance, it is reminiscent of familiar strategies: attracting people with innovative-sounding concepts without a solid foundation.
Tan also emphasised the ambition to enter the Asian and US markets. This is an ambitious goal, but one that is likely to fail in the face of reality. The competition is enormous, and Blocktrade has so far not demonstrated the unique selling points or innovative strength that would be necessary to survive in these highly competitive markets. The company’s tarnished reputation also makes expansion difficult, even in established markets such as Europe.
Legacy issues block progress
The real problems run deeper. Sam Tan may be highly motivated and may appear to be turning the company around, but he cannot perform miracles. Even if the company were to implement serious reforms, it would take years to restore investor confidence and put the project on a solid footing. However, many investors have neither the patience nor the confidence to wait for results for several more years.
Tans‘ repeated comparison with Bitcoin illustrates the weakness of his argument. Bitcoin emerged organically, driven by a global community, without the legacy issues of an opaque corporate conglomerate. Blocktrade, on the other hand, has to deal with structural and ethical problems that cannot be easily covered up by new plans.
Investors’ confidence is waning
Blocktrade’s current state is reminiscent of a dilapidated aeroplane that is supposed to take off with a new pilot, while the structure is threatening to fall apart. Many investors have been stuck for years with no real prospect of improvement. Tan’s grandiose visions cannot hide the lack of concrete results.
Without far-reaching reforms and a radical departure from the practices of the past, the grand plans remain hot air. For those affected, the only question left is: how long will they allow themselves to be fobbed off before confidence is finally lost – or has this point perhaps already been reached?
Source: Blocktrade, Company Register
Note: As always, those affected are welcome to comment on this, or if someone has more or different information, they are welcome to share it with us. We are not interested in making false claims and our primary goal remains the provision of complete documentation.
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