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S Block Review: SBlockWorld.com A Crypto Ponzi Scheme

S Block Review: SBlockWorld.com A Crypto Ponzi Scheme

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S Block is a crypto wallet company that promises enormous profits to its affiliates. Compared to many other similar companies, it has a complex compensation structure. SBlockWorld.com was created in June 2019 and has been gaining some popularity in the last few months. In this article, you will get to know about every important aspect of S Block that will help you in determining whether it is another crypto scam or a legit platform.

Overview of S Block

S Block claims to be a rapidly growing digital asset management company that specializes in blockchain technology. It also claims to be a secure, reliable, and straightforward access the digital currencies. SBlockWorld.com states that powerful and modern blockchain technology powers the company that allows it to conduct anonymous and secure transactions through its decentralized distributed network.

Founder of S Block

Ivan Bolonikhin is the President of S Block and runs from Singapore. Fabien Bohier is the Vice President of the company. The LinkedIn profile of Bolonikhin describes him as a digital security expert. There is some contradictory information available about the origin of the company. Moreover, it is not clear where Bolonikhin is living. His Facebook profile states that he lives in Kyiv, Ukraine, while his LinkedIn profile mentions Singapore as his current location.

Further research about Bolonikhin indicates that he was involved in the hospitality industry before reinventing himself as a security expert. Specifically, Bolonikhin was working in a Ukrainian cake shop before forming S Block. There is no indication that he has any kind of experience in the crypto industry or any other part of the digital world.

Core Functions of S Block

SBlockWorld.com claims to provide the following three main functions:

Extensive Storage

The company claims that it is much better than any other digital wallet because it supports multi-coin storage. Moreover, S Block promises to facilitate various kinds of financial services. Hence, the company will be able to develop efficient asset allocation and quickly provide compensation to the users.

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Multi-currency Loan

S Block says that it has the Interstellar Contract System that provides various functionalities such as automatic risk control, contract agreement, return protection, durability, and security guarantees. Moreover, the company offers the option of borrowing a wide range of currency options with its cross-chain technology. However, SBlockWorld.com does not elaborate on this process, so it is highly unlikely that such a feature is even true.

Remittance

S Block claims that you use their wallet to send crypto coins across the borders via Interstellar Transfer Protocol. This protocol allows cross-border remittance of not only the crypto coins but any other legal currency.

Joining S Block

S Block does not offer any retail products or services. If you want to use their digital wallet or participate in the income structure, you must spend at least $300 in the SBO tokens. The company declares this investment to be a lifetime investment, as it will be used to reward you with tokens. Furthermore, there is no specified limit on the total number of tokens you can store in your S Block Digital Wallet.

S Block is not providing you much features and functionality, considering the fact that you have to invest at least $300. Instead of joining this company, you should invest in crypto mining companies that provide reliable support and tools for crypto mining and earning profits. 

S Block’s Compensation Structure

Once you have invested at least $300 to obtain SBO tokens, you will become eligible to participate in the S Block’s income plan. The website does not disclose the current value of the SBO tokens. SBlockWorld.com only states that the token supply is just 680 million. With an estimated investment of $100 million per day, the SBO token can rise up to the price of BTC or BCH

 

However, you should keep in mind that such projections are very unrealistic. Even though S Block is becoming a popular name in the crypto industry, its popularity is nowhere near the Bitcoin, and such comparisons are made to just attract more investors.

Affiliate Ranks

The company promises daily ROI in exchange for investing $300 and parking your SBO tokens in the digital wallet. SBlockWorld.com states the following breakdown of the compensation plan in terms of affiliate ranks. Even though the values are given in USD, but in reality, the compensation is promised in the form of SBO tokens.

  1. Comet Affiliate Rank – Register and spend at least $300 for SBO tokens.
  2. Planet Affiliate Rank – recruit at least fifteen members and make a total amount of at least $200,000
  3. Star Affiliate Rank – recruit at least three members on the Planet Affiliate Rank.
  4. Galaxy Affiliate Rank – recruit at least three members on the Star Affiliate Rank.
  5. Universe Affiliate Rank – recruit at least three members on the Galaxy Affiliate Rank.

Loyalty Bonuses

S Block promises loyalty bonuses to the affiliates on Planet Affiliate Rank or higher. A 3% loyalty bonus is given to the members. However, the website does not give any other specific criteria or further breakdown of the loyalty bonus.

Similarly, a Global Rewards pool is designed by the company to distribute Global Rewards. SBlockWorld.com states that only the members of Universe Affiliate Rank are eligible for Global Rewards. 5% of the SBO tokens of every affiliate is deducted and put in the rewards pool. Every member on the Universe Affiliate Rank will get an equal amount of the bonus.

Residual Commissions

By now, it is quite evident that S Block’s business model and compensation structure revolves around affiliate membership. Therefore, like any other affiliate scheme, S Block also promises residual commissions to the members for recruiting new affiliates and building teams.

  • Members of the Planet Affiliate Rank earn a 5% residual commission price.
  • Affiliates on the Star Rank earn a 10% residual commission price.
  • Members of the Galaxy Affiliate Rank earn a 15% residual commission price.
  • Affiliates on the Universe Rank earn a 20% residual commission price.

Final Verdict About S Block

Overall, S Block seems like an impressive company that is offering efficient solutions to crypto-related issues. However, the contradictory information available about the owner, Ivan Bolonikhin, is the most problematic part of the company. 

Moreover, SBlockWorld.com places a lot of emphasis on investing in the company and participating in its income structure, which is essentially an affiliate scheme. Instead of elaborating on the features of the S Block Digital Wallet, the site focuses on the predictions about the SBO tokens. The purpose of such measures is to attract more users. It is not clear that the company is running from Singapore or Ukraine. In fact, it is highly possible that S Block does not have any official headquarters.

In short, you should keep in mind that S Block has very suspicious origins and is asking for a huge amount of investment of $300. Even if you get SBO tokens in return for this amount, remember that currently, the tokens do not have any real value.

It is highly unlikely that the price of SBO tokens will rise anytime soon. Hence, S Block Digital Wallet will not be helpful to you in any way without the considerable value of the tokens. Hence, instead of investing in a suspicious company like S Block, you should invest in profitable crypto mining companies. Such platforms will allow you to mine your own crypto coins and earn maximum profits with efficient and quick services.

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