Global Property Register envisions the combination of blockchain and AI technologies to revolutionize the global real estate industry. However, since the team has no specific background in either of the above, the white paper is sheer hype and even contains spelling mistakes, it is unlikely the project will ever produce a viable product.
Many other projects are pursuing similar ideas, but so far none has been able to legally associate the ownership of transferable tokens to the static records held by the authorities.
The project has no supervision of funds and no exit scam proofing.
Global Property Register is a risky investment: no supervision of funds allocation, no exit scam proofing, no project auditing has been set up by the issuer.
An expert review of Global Property Register's upcoming ICO
Global Property Register was founded in November 2018, under a UK incorporation, the team is partially from Nigeria and sparse across other countries worldwide. This is a newly created company clearly for the purposes of the ICO.
The funded capital is minimal and nothing from the records suggests any history of a trading business.
The white paper does not clearly indicate the legal entity responsible for the ICO, this alone raises a clear red flag.
No third party is regulating the raising of funds for this ICO and as Global Property Register completes their ICO, any funds raised will be unsupervised and there is no promise yet of transparency.
Global Property Register does show a generic planned allocation of funds on their company website, the plans that they display are vague and unspecified.
These points establish that any investment in this project will be accompanied by a high-risk level. The team and their project remain unaudited and without any form of exit scam proofing setup.
Global Property Register’s business plan is built around developing a property register for the entire world while combining Blockchain and AI technologies together. However, no details are given on how these technologies will be developed and how they will add value to an immensely populated and fragmented industry such as the global real estate.
The project has no premises in place, no development to date other than a website displaying hype and a very vague white paper containing several spelling mistakes.
Utility tokens do not represent any right on the project, and should not be considered as an investment; in general, the chances of appreciation are less than what expected.
Investors should be aware of the risks associated to the ”failure to deliver” white papers promises, which can nullify the utility of the token.
To us, the project entirely relies on ICO investors’ funds and that raises a clear red flag on the venture.
Global Property Register’s ICO does not have a fair distribution of tokens among the parties, because:
-the pre-sale discount for the token is 40% which is indicative of a possible pump-and-dump scheme
– the soft cap is not intended as it should be, if the goal is not achieved there will be no cancellation of the sale. This condition hugely increases the risks for prospective ICO investors
While a part of the Global Property Register team is based in the UK, a lot are geographically spread wide from the English registered location.
When tracking the profiles of the team, we noticed that not all Linkedin profiles show a connection to the project, and in general, they appear to be involved in other jobs.
None of the profiles displays any links or expertise in AI, which appears to be an apparent cornerstone of their business plan.
Linked to Global Property Register first, however also a director at “Data Experts”.
Only linked to Global Property Register, but is remotely working from Ireland. Lacks any experience in Marketing, having previously worked as a customer service manager.
CEO of a company that went under in less than a year. Based in Nigeria and therefore distant to the project, even if it is his only current project.
Currently working on a total of seven projects.
No mention of Global Property Register.
Working on the same projects as Anurag Gautam, only with no mention of Global Property Register. They both work from India. Misspelt job on his team profile.
Working from Germany on four projects.
Working from Taiwan with a mention of five current projects, but no Global Property Register.
Limited information, other than being a Senior Lecturer in London.
Global Property Register is an incredibly risky investment due to a complete lack of clarity with their business goals. Their allocation of funds has no specificity, and their claims of using AI to assist with the building of a Global Property Register is unfounded.
There is no third party safeguarding and no exit scam proofing. Many claims are unsubstantiated and need further auditing to become valid. Their business plan has also failed with every other company who has attempted it.
ICA is committed to warning investors against ICOs which have no third party safeguarding the allocation of the funds derived from ICOs, no ICO Funds Supervision Scheme deployed.
Mr. GREG PWOL
Mr. Victor Mbotor Elemi
Advisors: Dr. Li Yang
ICO begins: 28-06-2019
ICO ends: 1-12-2019
Token Name: XRX
Soft Cap: 2.5m USD
Hard Cap: 250m USD
About this ICO:
– High hard cap
– Unclear preposition
– Unqualified team
– No IFSS
– Nothing in place
The issuers of this ICO have not commented on this review. If you represent Global Property Register contact us to request auditing and subscription to IFSS.