I hate Ponzi scheme, for this reason I would like to warn investors from falling for these scams. Today we talk about Blackfort. Blackfort would be a scalable blockchain, made up of more than 300,000 validator nodes. NFT collections, some DeFi services and a credit card would also be connected to it.
The consensus algorithm used would be a mix of Proof Of Authority (BNB Chain) and Proof Of Stake (Ethereum, Solana, Cardano, etc) and promises to be able to process more than 100,000 transactions per second. The network nodes are sold at a price ranging from €50 to €25,000, depending on their capacity which translates into greater fees and rewards paid to owners. However, no hardware and software installation is required to make the node work, this would already cast doubt on the existence of these nodes and on the actual decentralization. The comical thing is that there is no open source code on GitHub that you can look at. Currently the platform does not provide any services and has no use other than selling nodes. The founder should be Stefan Huber, CEO of HODL, an English financial company closed on 26 January 2021. In the English registers we also find another company linked to Stefan Huber: HR Technologies, closed in 2019 and which sold computers as a business. The company has tax residence in Estonia. Blackfort also claims to be active and present in 40 countries and the most active communities are in France, Germany and Italy.
AFFILIATION SCHEME: PONZI SCHEME
The Blackfort MLM affiliation scheme provides that each member must necessarily buy a "node" which has a price starting from €100 up to €50,000. For each affiliate brought in, forced to purchase a node, the member receives 10% of the value of their purchase. At the second level you receive 8%, at the third 6% and so on. Depending on the cost of the purchased node, the number of direct affiliates and the overall turnover of the team (deriving from the sale of nodes?) the members receive rewards in BXN and BxUSD (stablecoin not listed anywhere). It is difficult to evaluate the BXN or BxUSD tokens (currently worthless) and it is at least strange that the Tron or BSC network is used to make the payment to the nodes (if the blockchain were working I would use the same one to receive the payment, I would not rely on third parties ).
Red flags that make it a scam/Ponzi:
1) Ref links and affiliate system
2) Blockchain with KYC (therefore not decentralized)
3) Non-existent nodes as they are not integrated with software/hardware (you buy nothing, typical of Ponzi schemes). In real Proof Of Stake the validator deposits a crypto on his node and then validates transactions and earns network fees (which are then forwarded as a commission to whoever chose your node). In the case of Blackfort, the token is generated out of thin air
4) Tokens not listed and continuous delays
5) Promises of listing on the main 10 exchanges (which cannot be controlled by a project because it depends on the exchange. It is only possible to be listed on small exchanges, obviously paying)
6) Investors who bought the "node" are "forced" to release positive reviews on TrustPilot (obviously it also serves to spam the ref link)
You should seem to stay away from any platform that provides affiliate levels because they are always pyramid schemes. You are buying nodes but in reality you are just giving away money to scammers. I specify that these are my opinions after having analyzed the project. In reality the scam is not official but there are many red flags.
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