Every coin holder's dream in the past ten years has been to be able to use cryptocurrencies for making payments during their everyday purchases. Ever since Bitcoin itself surfaced, crypto enthusiasts wanted digital currencies to become big enough that the entire world recognizes them, and starts using them.
Of course, the shift towards digital money is not an easy one, and it will take a long time before people start accepting it in greater numbers. However, that does not mean that there was no progress when it comes to finding methods to use cryptos for paying for goods and services.
Numerous online merchants are already accepting them, and there are projects, and indeed — entire companies that are providing crypto cards. This has not been a perfect solution thus far. The costs of operating such cards have been rather expensive. In fact, it was expensive enough for many to start questioning whether or not it is worth it.
But, there are other projects that are trying to achieve the same, likely under more preferable circumstances. Mobilum is one such project.
Mobilum is a project that wishes to become the bridge between the crypto and fiat currencies. It directly connects digital currencies with any payment card, no matter its issuer. According to the project itself, that includes Visa, MasterCard, UnionPay, JCB, MIR, Discover, Diners' Club, Belkart, AMEX, and others.
With an offering like that, Mobilum aims to become the missing puzzle piece that would allow crypto users to finally make use of their coins. Everyone who owns any digital currency would be able to use Mobilum's service and pay with their coins. No longer would such privileges only be limited to Bitcoin and maybe a handful of others, but for the first time — any coin would count.
Mobilum's real goal is to connect crypto and fiat in real-time. Along the way, it would decrease the total cost of transactions, as well as guarantee their most favorable execution. The project aims to accomplish this, as well as add liquidity to the markets, via their platform.
The platform allows credit card holders to make use of any blockchain-based asset for payment settling. This is an entirely different approach from what other similar projects and services were trying to offer, and it will finally make every coin count. All that will matter is how much coin the user has, and whether or not it is enough to pay for the goods or services they wish to purchase.
Of course, the platform required its own cryptocurrency that would fuel it and let it run necessary processes, which is why it came up with MBM.
As mentioned, Mobilum has its own cryptocurrency known as MBM. The coin saw its ICO last year, which was an unfortunate period for holding a token sale. The project's ICO took place from April 15th, 2018, until June 15th of the same year.
While the project set up a hard cap of $29 million, it appears that they only managed to raise around $5 million.
MBM is a utility token, while the project, as well as the ICO, were registered in Gibraltar. Not a lot is known about this ICO, as there was a lack of information and reports. For example, while it is known that the project had a preICO period, it remains unknown how much it managed to raise during this time.
|Start||July 4, 2019|
|End||September 20, 2019|
It appears that Mobilum has wound down their operations as both founders, Wojciech Kaszycki and Jakub Nalej (the info about whom are nowhere to be found on the official website, so I had to do some research on my own) have indicated in their professional profiles that they stopped working on this project somewhere around this February. Kaszycki is currently engaged with another project called ADAX while Nalej also appears to be working elsewhere. That is no way to treat a generally good project, such a pity.
I couldn't find any information about the Mobilum team anywhere, not on their website, or LinkedIn page. This is definitely a major concern about this startup, not to mention that it is registered in Gibraltar, a well-known offshore zone with uncertain regulations with regard to crypto projects. Also, I couldn't find any whitepapers or other technical documentation that would describe their system in detail. Only some generic phrases on the home page. If that's not a sign of a shady project, then I don't know what is...Needless to say that I don't recommend even considering Mobilum for investment.
Its vision appears interesting, but its team is mostly unverified, and so are all the advisors. Not to mention the fact that the white paper appears to be unavailable at this time.
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