Flashbacks to Zetacoin promising an upcoming M-Pesa integration back in the day.
If an altcoin/ICO is making grand promises of improving digital financial services in Africa, it's probably a scam. https://t.co/H2kr9ZekAt
While Martinez’s blog post claims Wala had “150,000 users,” one anonymous source estimated the number was closer to 2,000 individuals with numerous wallets. Every wallet was able to claim a small token reward during setup, so dozens of users created numerous accounts. Only several hundred people were actually using the Wala app for its intended purpose, the source said.
oooo boy. so like money but with one more step added in. hey, if a transaction is worth middlemanning, its worth middlemanning twice. or three times.
220, 221, whatever it takes. (thats a Mr. Mom joke)
And what about all the ICOs who burned through their runway money in places with good infrastructure? Are they claiming its because they are designed for places with poor infrastructure? Like venezuela and africa? hmmm maybe they should swap... 🧐
> Wala lacked a revenue model
Hey, they only burned 1.2 million before paying reality check. It could be worse, just look what kik did! Lacking revenue model didn't stop tech companies from hopelessly burning billions in hopes it will eventually come.