What is Quahl?
Quahl is building the payment system of the future. The Quahl payment network will integrate the best technological improvements that have been made in the payment industry over the last few decades to create a flexible, easy-to-use and in expensive payment network.
These technologies have been available for years, but have not been adopted due to a classic chicken and egg barrier: No buyer wants to join a new network with no sellers, and no seller will offer a payment option that no buyer uses. Quahl solves the adoption problem by associating the payment network with a new global currency, and distributing this currency to early adopters for free.
Initiative Q or Quahl is not the new Bitcoin, but here’s why the idea has value
A former PayPal employee, Wilf launched Initiative Q with the help of economist Lawrence White, who developed the economic and monetary models for the proposed currency. As the initiative has gained a massive following, it has sparked predictions that Qs might just be “the next Bitcoin.” According to Saar Wilf, “We invited 200 people we knew, and they invited their friends,” Initiative Q founder Saar Wilf told Vox. “In the past few weeks, it’s started to get out to a pretty wide audience. There’s been a gradual process of growth and virality.”
Saar Wilf’s vision for Quahl or Initiative Q
For more than 20 years, Saar Wilf has dreamed of developing a digital currency, he told Vox. Based in Tel Aviv, the entrepreneur is no stranger to payment systems. He skipped college to work as a developer and programmer, and launched his first payment startup in 1997. Wilf later established the payment security company Fraud Sciences, acquired in 2008 by PayPal, where he worked until 2010. “There are all kinds of suspicions when we have people offering free money,” Wilf said. “We’re told to be very afraid, that this is a big red flag. But this case is very unique. We’re building a new payment network, and the only way to do that is to distribute it to people. That’s the only way we know how to be able to solve this problem. Yes, it is technically free money, but it is not worth anything.”
If Initiative Q ever hits its target signups, or perhaps even if it doesn't, Wilf plans to take that user data to potential investors to try to raise funds to build the promised payment network, though Wilf is already warning his grand payments plan might never materialize.
"Unlike other startups, this project relies heavily on the trust and support of millions of people," Wilf said. "It is therefore very important for us that everyone understands there is a long way ahead with many risks. I don't want anyone feeling they have been misled if the project doesn't meet its goals. "It's not a simple concept, how to create new money and build trust in a network like this. The only way we see to get it to spread is to get people to explain it to one another," Wilf said. "We want to offer people an incentive for this to succeed."
Initiative Q or Quahl aims to replace payment systems because they are clunky and costly.
You may have already got this very enticing WhatsApp or email. It goes like this: “Initiative Q is building a new payment network and giving away significant sums of their future currency to early adopters. It is by invite only and I have a limited number of invites. Click this link to sign up…Initiative Q will succeed only if many people join. The more people invite their friends, the greater the likelihood of reaching the goal of each Q being worth around one US dollar."
The viral wave it’s been riding has long since washed it up on the shores of the mainstream. Major news outlets like the BBC and the Financial Times have reported (critically) on Initiative Q. The coverage increases its reach and further plants it in our collective consciousness and according to Google, “initiative q” is searched for more often than the (second-largest) cryptocurrency Ethereum. One of the most recent interviews Wilf gave was to Forbes in June this year, in which he 'admitted Initiative Q has not yet begun thinking about the interface of the payments network app, nor how it will be used by retailers and those that have signed up to the network.
When This is Money looked at it last November, new sign-ups were offered Q coins that could be worth an estimated $44,536. Now, that's shrunk to $16,385and as of now its 10,034 Qs All the giveaways are premised on a target value of one US dollar per Q coin, meaning someone who signs up now could end up with substantially less valuable a holding than someone who signed up last year, if the private currency ever pans out. In a timeline on its website, Initiative Q said its 'member recruitment campaign' in which it aimed for 'rapid user growth reaching tens of millions' would take place between mid-2018 and mid-2019.
An Innovative Plan for Enabling Efficient Transactions
Wilf is quick to point out that Q is not a cryptocurrency. Qs are not blockchain-based and, unlike cryptos, which are legally classified as commodities, they are treated like fiat currency. Initiative Q will protect against fraud — just like banks and credit card companies do with their customers. A tailored monetary policy will also enable Qs to hold a stable value — something with which most cryptocurrencies have trouble.
And Qs are designed to be exchanged by consumers. That is where Initiative Q finds its highest potential to displace credit cards as the dominant method of digital payment. To use a credit card, the consumer must first have a credit card, and the merchant must have a card reader and an account with the credit card provider. Those components all cost money, with the consumer ultimately footing the bill.
But Q users will need only a smartphone and the Initiative Q app. Because all payments in the network use Qs, there will be no exchange fees for international purchases, further reducing costs on both sides.
If you are looking to join Quahl, so you should know that its only for invite basis, you need invitation to join Quahl, you can use below mentioned link to join Quahl.
Quahl Invite Link -