PowerOnXpress Bought Out by Stockholm IT Ventures AB: BlockChain Trade Technologies ?
There has been some rumblings going on in the MLM CryptoCurrency world with this new development.
Stockholm IT Ventures AB, formerly known as Trig Social Media AB (publ), is a Sweden-based holding company active in the information technology (IT) and social media sectors. The Company’s holdings portfolio includes FanTrac, Pimboo and Social Commerce, among others. The Pimboo is a content creation and sharing platform that users can join and earn revenue from posting to social media and participating in the advertisement revenue. The FanTrac provides the solution by aggregating all the celebrity’s free social media, fan clubs, fan sites, news feeds into one Website. The Social Commerce is an online platform that allows users to connect and sell products through specially designed marketplace.
From my research, the companies or ‘projects’ in their portfolio are based in London (UK).
They talk about the following entities:
1. BlockEvolution being the Marketing Arm for the holding company (almost an exact replica of PowerOn Xpress – POX) backoffice.
2. BlockBuddy being the trading platform (just a simple affiliate site at this time)
3. BlockNotes (BKN) which will be the name of the Cryptocurrency but interesting thing is nothing is mentioned about it in the Transition Plan
The product that will be associated with their BKN cryptocurrency is a blockchain trading exchange. I will talk about some of their competitors below.
Stockholm IT Ventures AB is actually traded on the stock market as TRIGG:DE – See http://www.reuters.com/finance/stocks/overview?symbol=TRIGG.DE
So the question becomes:
How will they transition tens of thousands of distributors who own Xchange Energy Units (XEUs) and/or Xchange Energy Coins (XECs) to a new platform?
There is a FREE Option and a 99Euros Paid option (with an optional 9 euros a month)
A considerable number of Members do not want to pay the 99Euros. Their logic is that they’ve not only put blood, sweat and tears into PowerOnXpress (POX) but they have also purchased packages that range from 199 all the way up to 50,000Euros!!
Also because the Cryptocurrency is no longer on the table and all they are left with are XEUs which are valued at 12cents or 0cents depending upon what side of the camp you’re talking to.
Since there is no coin at this time, this analysis should be simple enough. Any refernece to XEUs or XECs can be used interchangeably.
Well here is the plan folks, Read, Analyze, Read Again, and make your own decision and OWN IT!
No whining allowed … only my sarcastic, facetious humour is allowed in the worst case scenario.
1. If you Don’t pay the 99Euros and remain a FREE member in BlockEvolution:
a. You get shares in BlockEvolution at a 1 to 1 ratio of XEC to BlockEvolution shares. So if you have 5000 XECs, then you get 5000 BlockEvolution shares. I am unclear here as to whether the shares are for BlockEvolution or for Stockholm IT Ventures AB. Need Clarity. They did write this in the TRANSITION MANUAL:
Go to www.blockevolution.com and sign in using your PowerOn username and password.
Step 2: When you log in, you will be offered to review and accept the terms of transitioning to Block Evolution.
Step 3: When you do so, your assets are transferred and converted from PowerOn to Block Evolution. Your account in BlockBuddy will receive the assets, if you don’t have an account one will be automatically created for you.
Until now, this is not only 100% free of charge plus you also receive a free share for each XEC you have in BlockEvolution.
b. You can promote the deal and 5% commissions on any Packages Sold. See compensation plan. NOTE: YOU WILL BE A FREE MEMBER. So if you purchased a 5000Euros package in POX, it doesn’t matter. You are a FREE MEMBER in BLOCKEVOLUTION and your commissions will be as a FREE MEMBER as outlined in the compensation plan
2. Pay the 99Euros to get “INCENTIVES”
a. Your BlockEvolution account is activated 100%. If you purchased a 199 Euros Package in POX, then you will be an Equivalent Paid Member in BlockEvolution. If you bought a 5000Euros package, then you will be an Equivalent Paid Member in BlockEvolution and get the commissions maximum the same as you did in POX. This applies to all of the OLD POX Membership Levels
b. You get 0.25 warrants in Stockholm IT Ventures AB (SIV) (traded on the new BlockBuddy exchange platform once it is developed) per each XEC that you had in POX. So if you had 5000 XECs in POX, then you get 5000 x .25 = 1250 warrants.
Warrants are like Stock Options. It is where you exercise the right to buy the stock in the future at a pre-defined strike price. I don’t know what the strike price (exercise price) is because there are no terms of agreement thus far. But I do know that the current price on the market is 1cents. The strike price can be around 15-20% or so. So that wouldn’t be a bad deal IF the stock goes up. So IF the stock goes up to $10 in the future, you can exercise your right to buy a boatload of them for a very low strike price!
c. OPTIONALLY: For an additional 9Euros per month, you receive the following extras every three months ONLY if you pay the 9Euros for the full quarter without missing a month:
i. – 0.25 warrants in Stockholm IT Ventures (to be traded on BlockBuddy when BlockBuddy is fully developed) per each XEC that you had in POX. So if you have 5000 XECs, then you get 1250 warrants . See above conversation about warrants. Quite frankly, an XEC is worth ZERO because there are no XECoins or XEUnits. So to get anything is a wonderful thing.
ii. – 0.5 shares in BlockEvolution per each XEC you had in POX. So if you had 5000 XECs, then you also get 2500 shares in BlockEvolution.
My initial Assessment is … Drum Rolll… Please….
1. If Stockholm IT Ventures AB pulls off a successful profitable miracle with their new subsidiary (yes it is brand new), BlockChain Trades Ltd, then its members will be sitting pretty. This is the group of guys and/or gals or just “Mr. Suit” or ??? who will be developing a trading exchange ontop of a blockchain (a digital ledger like an accountant’s ledger. But it records all transactions and is immutable … UNCHANGEABLE…).
If I am remembering correctly, it is not going to be a cryptocurrency exchange only. But it will also be a trading platform for FIAT currency and ETFs, etc. I will check on the accuracy of this and edit accordingly.
If these guys pull this off, then they are looking at something big and rather profitable. And an additional 99Euros and 9euros a month would be a small price to pay for that. BUT … seeing a prototype or demo or a white paper beforehand would be a key decision making parameter.
Competition in the space is indeed out there so Stockholm IT Ventures AB, BlockEvolution, and BlockChain Trades will have their hands full.
A competitor to BlockChain Trades would be DIMCoin who is actually doing a pre-ICO (token sale) from July 01 – July 15th and an ICO (token sale) through August 27th. I like them although I am not quite sold on them because it looks like strong PR and Marketing hype … even in the whitepaper. But … We’ll see … It could be Worth the speculative risk. See https://tokenmarket.net/blockchain/nem/assets/dimcoin/ and https://www.dimcoin.io/
Dimcoin’s Pre-ICO is ending in 36 hours if you want to get in before the ICO.
The ICO starts 16July2017 and will continue until August 27th IF they don’t sell out. History shows that ICOs are selling out in a matter of days if not hours.
EquiBit is another competitor I believe … or at least they are in the same space. In 2015, 2 years ago, they started on their OTC Equity Blockchain product. They had an ICO just this year back in March https://equibit.org/post/blockchain-otc-equity-system/ They pulled in $760000 from investors.
That is small potatoes compared to these crazy ICO companies pulling in millions upon millions of dollars — numbers like $30million, $67million, and even over $150million – OH MY!
EquiBit has some pretty nerdy tech guys on their team and their managment team is transparently visible and full of awesomeness too.
Look, Listen, and Learn about the Cryptocurrency, Blockchain, and ICO Industry trends and happenings! It is important and exciting!
Faith “CryptoQueenWiki” Sloan
Disclaimer: Simple – I am not giving you any investment advice. Do your own research and analysis. And do whatever you want to do. But PLEASE don’t use the kids’ college fund!