Estimated reading time: 6 minutes
So many scams are now calling themselves ICOs. Airfio.com is one of those scummy websites offering tokens for sale.
What exactly are you supposed to do? You are supposed to buy tokens from them with the promise that you’ll make money when prices rise.
Airfio claims that it wants to revolutionize the world of Crypto banking & fintech industry. It aims to achieve this by integrating neural networks with blockchain technology. This will supposedly ensure higher security and seamless operation of the interface.
Airfio also claims that they have a long term vision. But most of their short term goals (such as installing ATMs in some 7 countries around the world) are supposed to be achieved by 2020.
The point is, Airfio was allegedly launched to streamline financial transactions using the blockchain technology. They are supposed to facilitate financial transfers, issue debit cards and so much more.
They promise to be the future of Crypto-banking (just like every other ICO has always promised). There is nothing revolutionary here.
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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
Because of that, we have decided to write a review of this website to let you decide on your own whether or not investing in this ICO is a worthwhile course.
Note: You can invest on Bitcoins and other altcoins here.
The main purpose of this entity is to supposedly use the blockchain technology to create seamless transactions involving Cryptocurrencies. They also want to integrate machine learning capabilities in their network too… something which we feel this website is not able to achieve now or in the near future.
All in all, these folks are just saying that they want to offer the services of a traditional bank, except that money will be in form of Cryptocurrency.
There are lots of things that are supposedly going on here. Apart from offering ARF coin, they are also issuing Visa cards, a mining app, an SDK for developers, a decentralized exchange, and many more.
The website claims that all of the platforms/functions mentioned above are build using AI technology. We don’t know how true this is. And even if it were true, we can’t see any reason why an AI would be essential in this case.
The question that we are asking is why people would need every function of their bank built on AI technology. Although they claim that this is the first time that blockchain technology has been synchronized with AI technology, we clearly do not see any meaningful correlation here.
Is it worth it, or is this another sales gimmick?
Well, Airfio claims that this technology for approving transactions. For any transaction to be verified, the AI technology has to use what they call ”neural analysis” for that transaction to pass verification.
ARF coins is the name of the token which they are allegedly offering investors. ARF coins appears to be a common factor that unifies all parts of Airfio applications.
This website also claims that they have built their own Crypto bank facility which they describe as ”universal”. Since this bank utilizes blockchain technology, it is anonymous. Only your account number should remain constant.
Airfio also claims to offer a smart wallet that allows fast, secure, and anonymous transactions between peers. This wallet too is alleged to have been equipped with AI, and has a range of cutting-edge features. These features are supposed to benefit the user in one way or another.
One of the features that Airfio mentions is that you can create up to 10 addresses in a single wallet.
In addition to this, Airfio users can also make use of a special Visa Card which has been created to synchronize the service of this platform with those of a traditional ATM.
The Visa card can be used everywhere in the world, as long as the outlet is accepting Visa cards.
Now, while this website is calling it a Visa card, we can see very clearly on their site that this is a MasterCard since there is a MasterCard logo instead. We are not sure why the confusion. It isn’t clear which network this card will be using due to this confusion.
They claim that this card will be released in the second quarter of 2018.
And there is also a decentralized exchange where you can buy, hold or sell your Airfio coins when you want to. According to this website, the exchange is very secure, and it allows convenient trading between those who hold the coins and those who don’t have them but would wish to acquire them.
The alleged assistance app is supposed to assist the user with everything pertaining to the use of Airfio website and its applications.
When we went through the whitepaper, we were not able to find any further information about this application. We therefore have no idea how it works.
The mining app is also part of this website’s features. This app is described as ”exceptional mining application which utilizes mobile technology”. Apparently, this mining app isn’t available today. They are supposedly going to launch it in the second quarter of this year.
The lending program is also one of the features of this website. The problem is that most of the offers are vaguely described on this website. The whitepaper does not point out the exact details that an investor would want to know.
The lending program is equally vague in terms of details. There are no further details on how this is supposed to work. This raises eyebrows.
Also, these folks are supposed to release 25 million Airfio ICO into the market. 9 million tokens will be sold out during the first ICO which should be lasting in 30 days.
But there is also a pre-ICO phase which should last in 5 days. During this phase, only 1 million tokens will be sold.
So this coin is supposed to combine regular banking technology with blockchain technology to facilitate transactions.
With such a great agenda to pursue, it would only be fair to investigate and find out whether this website is backed by any corporation.
It would also be fair to find out if there are real professionals working for this project.
We should go to the whitepaper and see if it features any leader, project coordinator or team members. Unfortunately, this information is not on the whitepaper at all.
The official website doesn’t even mention any individual who is associated with this project.
When we visit their twitter profile, we only find that their location is listed as US. There is no information about the people who are managing this site.
There are also claims (through prominently featured logos on the site) that Airfio has partnered with entities such as Bitcoin.com, Coindesk and CryptoCoins to bring their plans to fruition.
The nature of this partnership is unclear. Perhaps they got featured on the regular media reports. Nothing more than this.
You can rest assured that anyone who purchases these tokens or participates in any way will most likely lose their money.
There are already enough tale tell signs here. The whitepaper is not conclusive. Their who.is data does not show us anything. Basically, the owners of this project are anonymous. This makes Airfio a suspicious site and a possible scam.
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