GreenX.Network Scam Project

[deathland113]

GreenX ANN: https://bitcointalk.org/index.php?topic=3336435.0
I just find out this project run in pyramid scheme by giving huge commission and multi-levels to their referrals

their github page almost blank except tokens section
https://github.com/GreenXNetwork

this company ECOBLOCK PTE. LTD. (the "Company") is a Exempt Private Company Limited by Shares, incorporated on 19 March 2018 (Monday) in Singapore. only less than 3 months ago and want to dispute this green energy world is so fun.
Their team members almost from Vietnam where never have any green energy project till now.
and don't forget almost ico project from here are scam. http://fortune.com/2018/04/12/icos-cryptocurrency-scam-vietnam/

Greenx is a registered company in Singapore but Singapore doesn't allow any ico to the general security token. In their biz model, Greenx is security token as they mentioned in whitepaper


This will be violated by law and I don't think any regulate company want to deal with this such things

Stanley Nguyen CEO claimed that he is cofounded of SolarVille Ltd.
http://www.solarville.vn/san-pham
this is so so big with 3 projects done in past
1 for a government build (small one)
1 for a tea shop
1 for a private house
lol

So just stay away.

[Skyrah2008]

Greenx is a registered company in Singapore but Singapore doesn't allow any ico to the general security token

If signapore government doesn't allow any general ico token projects, how can GreenX be registered under their governance ?

Stop accusing without reasons, GreenX is one of the promising projects and helpful to our economy.

[GreenXOfficial]

Hi,

I am from the GreenX team and please allow us to reply to your comments.

First, I would like to say thank you for taking your time to study our project. Doing due diligence before you invest is a good thing to do and this practice is welcome by us for all of our backers.

However, I respectfully disagree with your accusations. Allow me to go point by point.

1) The referral bonus is not a multi-level scheme. If you refer someone to purchase the GEX token, you’ll receive some commissions and that’s it. The % of commissions increase when you contribute more to the project either by investing more or by introducing more people. However you receive nothing if the one you refer introduces other people. This is a common practice by most companies in the world. If you thoroughly read the chart you will see no multi-level referral at all.

2) Our Github has a public repo and a private repo. Because we’re in the ICO phase, we can only public the tech related to the token and smart contract. We are , however developing our prototype and will release the public code on Github as soon as we release the MVP. This is also a common practice in software development to ensure security of the final product.

3) Yes our company is indeed registered in Singapore because of the supportive regulations. However, we acknowledge that regulation risks are threats to all crypto projects. We have followed the guidelines of the MAS in designing our token and funding model. The current laws in Singapore stills allows us to carry out the business model without being deemed a security token. However, do are wotking on proactive improvements to strengthen the funding model, including funding through coupon & energy buy back instead of having economic interests in project. We will test these models before rolling out.

In case the regulations changes, we are flexible in complying and/or relocate. Binance has moved several times. This is normal for crypto projects.

4) Our founders are from Vietnam. There are successful projects from this country, including Tomochain, Kyber Network, among others. I don’t think generalization is a good thing. It can be outright racist!

5) Stanley was a founder of SolarVille and is currently in the advisory board of the company. SolarVille is a partner of GreenX, and GreenX has many other partners, as announced on our website.

All in all, we don’t deny that our project has risks. Risks are related to regulation and execution of our business model. However, these risks are the same with any other ICO. GreenX has developed in a transparent way, the team are working hard to roll out the products and to create industry relationships. We are in. The blockchain tech to hopefully create a sensible and meaningful project, not for the quick bucks. Why would we shows ourselves if we want to scam people? It’s not worth it.

I don’t think it’s fair to make these accusations. However we respect that you have your opinion. We want to have an open dialogue. At the same time, we will continue our project, finish the ICO, list our token, build the platform, and fund as many green projects as we can. Our end goal is to make the world a greener place and we will not let false accusations stopping us from reaching that goal.

Thank you,

GreenX team