If Monaco is not granted accredition by Visa,how are they using their name on their cards?
They have no Plan B. If VISA reject their application then they will have an opportunity to modify their structure and go back to VISA and ask for them to reconsider but even then there is no guarantee VISA will accept them.
In the event Monaco Card do not receive VISA accreditation then bascially all investors who hoped for a profit related return on a small percentage of transaction fees can kiss that mini dream goodbye and all those that received bounty for placing ads and sending out tweets will cash in and make a tiny amount of money rather than a small amount because the price will not rise.
If VISA tell Monaco to get lost the biggest losers will be those that purchased at the ICO and will sell for a fraction of the $3 they originally paid.
The biggest winners will be those that are in possession of the $21 million the ICO gave to the project team. Think about it, they have $21 million of investors money and whether this project is a success or failure it will mean the project team are $21 million better-off regardless.