Initiative Q payment network
Initiative Q is the brainchild of Saar Wilf, a serial entrepreneur who started his first payments start-up in 1997, and later founded Fraud Sciences, which redefined the payment security space and was acquired by PayPal in 2008.
Wilf has compiled a team of experts from a variety of disciplines, including mathematics, economics, and other social sciences. The economic and monetary models were developed with Economist Lawrence White, a professor of monetary theory and policy at George Mason University, and reviewed by our advisory board members listed below.
What is Initiative Q?
Initiative Q is building the payment system of the future. The Q 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 inexpensive 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.
Initiative Q solves the adoption problem by associating the payment network with a new global currency, and distributing this currency.
Initiative Q’s payment model
Initiative Q is creating a modern payment network that will aggregate the best ideas, innovations, and technologies developed in recent years. The Q payment network will allow safe, fast, and low-cost transactions, using a global currency.Many of the ideas that Initiative Q will include already exist in some form, but thus far they have gained only limited acceptance, and there is no universal system that integrates them all. This is 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. Initiative Q will overcome this barrier by distributing its currency—Q—for free to early adopters, creating incentive for its adoption and use.
This paper gives a taste of the innovations and improvements that the Q payment network will offer.
Read more on https://initiativeq.com/