S Block operates within the cryptocurrency MLM area of interest.
The corporate represents it’s based mostly out Singapore and headed up by President Ivan Bolonikhin.
On his LinkedIn profile, Bolonikhin (proper) claims to be a “digital securities skilled”.
Observe that whereas Bolonikhin’s LinkedIn profile cites his location as Singapore, his private Fb profile reveals he lives in Kyiv, Ukraine.
Bolonikhin’s Instagram profile reveals he solely traveled to Singapore earlier this month.
Previous to reinventing himself as a digital securities skilled, Bolonikhin seems to have been employed within the hospitality trade.
To be particular, Bolonikhin was baking cupcakes in a Ukrainian cake store.
So far as I can inform Bolonikhin has no prior MLM govt expertise.
Learn on for a full overview of the S Block MLM alternative.
S Block Merchandise
S Block has no retailable services or products, with associates solely in a position to market S Block affiliate membership itself.
The S Block Compensation Plan
To qualify to obtain commissions in S Block, every affiliate should make investments a minimum of $300 in SBO tokens.
S Block don’t disclose the present inside SBO token worth.
As soon as acquired, S Block associates park their SBO tokens with the corporate.
In alternate for doing this, S Block pays associates a every day return.
Observe that though returns are introduced in USD, precise returns are paid in SBO tokens.
So are the commissions paid out as detailed beneath.
S Block Affiliate Ranks
There are 5 affiliate ranks inside the S Block compensation plan.
Together with their respective qualification standards, they’re as follows:
- Comet – enroll and make investments a minimum of $300 in SBO tokens
- Planet – recruit a minimum of fifteen S Block affiliate buyers and generate complete downline funding of a minimum of $200,000
- Star – personally recruit a minimum of three Planet ranked associates
- Galaxy – personally recruit a minimum of three Star ranked associates
- Universe – personally recruit a minimum of three Galaxy ranked associates
Observe that downline funding is just tracked by fifteen unilevel group ranges.
Residual Commissions
S Block pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel group, with each personally recruited affiliate positioned immediately underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel group.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Residual commissions are paid on funds invested by S Block associates positioned into the unilevel group.
S Block caps residual commissions at fifteen unilevel group ranges.
How a lot an S Block affiliate earns throughout these fifteen ranges is set by rank:
- Planets earn a 5% residual fee charge
- Stars earn a ten% residual fee charge
- Galaxys earn a 15% residual fee charge
- Universes earn a 20% residual fee charge
Matching Bonus
S Block associates obtain a Matching Bonus on SBO token returns paid to unilevel group associates.
- degree 1 – 100% Matching Bonus
- ranges 2 to 10 – 10% Matching Bonus
- ranges 11 to fifteen – 5% Matching Bonus
World Rewards
S Block calculates 5% of SBO tokens returns paid out and locations it into the World Rewards pool.
Universe ranked S Block associates every obtain an equal share within the World Rewards pool.
Loyalty Bonus
Planet and better ranked S Block associates qualify for a 3% Loyalty Bonus.
The Loyalty Bonus is paid on downline associates on the similar rank because the qualifying affiliate.
I.e. Planet ranked associates obtain the Loyalty Bonus on downline Planet ranked associates.
The Loyalty Bonus is paid as 3% of revenue earned by similar ranked downline associates.
Becoming a member of S Block
S Block affiliate membership is free, nevertheless a minimal $300 funding in SBO tokens is required to take part within the hooked up MLM alternative.
Conclusion
In keeping with his LinkedIn profile, Ivan Bolonikhin (proper) can be co-founder of the STOBox Platform.
STOBox markets itself as an “all-in-one safety token platform”.
The platform offers Safety Token Providing providers for worldwide startups and enterprise.
A go to to STOBox’s web site reveals the enterprise was a flop. STOBox’s web site at the moment has an Alexa rating of 8.5 million.
For a enterprise web site, that’s pretty much as good as useless.
S Block seems to be a repurposing of STOBox belongings, to create a brand new MLM funding alternative.
There’s additionally the query of why Singapore?
STOBox and Ivan Bolonikhin are based mostly out of the Ukraine, so except they’ve arrange shell firms to launder cash by in Singapore, pretending to be based mostly out of Singapore makes little sense.
One other chance is Bolonikhin is only a fall man, with S Block’s precise house owners residing in Singapore.
On that word S Block advertising and marketing division lately introduced the corporate launched in Singapore on June twenty second.
The globally famend 2019 WBF Singapore Know-how Convention was held in Marina Bay Sands Lodge on June twenty second, 2019.
S BLOCK, the convention co-host, unveiled itself and announce its mission to “Unleash your digital belongings” for the primary time.
WBF stands for World Blockchain Discussion board, which is headed up by co-founder Sheng Zhao.
World Blockchain Discussion board is quick creating a popularity for curating app pockets Ponzi schemes.
Up to now World Block Discussion board has been related to Plus Token and Cloud Token, each of that are app pockets Ponzi schemes an identical to S Block.
As with S Block, the character of the monetary relationship between World Blockchain Discussion board, Plus Token and Cloud Token is shrouded in thriller.
On its web site S Block represents it generates exterior income by “interstellar quantitative buying and selling”.
Partnering with over 40 high international quantitative buying and selling hedge funds, S BLOCK makes use of proprietary AI know-how and high-dimensional knowledge evaluation to always out-perform the market.
That’s all very good however there’s completely no proof of exterior income being really used to pay associates.
Little doubt S Block will ultimately make obtainable the standard advertising and marketing movies purporting to indicate buying and selling exercise.
That nevertheless will not be an alternative choice to regulatory filings.
By providing a passive MLM funding alternative S Block is providing a safety.
To supply securities in Singapore an organization has to register itself with the Financial Authority of Singapore.
S Block fails to offer proof on its web site that it has registered with MAS, that means it in all probability hasn’t.
By not registering with MAS, S Block is working illegally in Singapore.
Certainly by not having registered its securities providing with regulators in any jurisdiction it solicits funding in, S Block is committing securities fraud worldwide.
Secondary regulatory issues in S Block’s enterprise mannequin are the truth that nothing is marketed or offered to retail clients.
An MLM firm producing 100% of its income from its associates is a pyramid scheme.
As for SBO token, it prices S Block little to nothing to generate.
Thus returns could be pumped out every day, and associates are in fact inspired to compound paid out SBO tokens for a bigger every day payout.
SBO tokens nevertheless aren’t backed by something. They’re fully nugatory outdoors of S Block.
S Block associates can solely money out SBO tokens by an inside alternate.
When this occurs, S Block pays withdrawal requests with subsequently invested funds.
Like all Ponzi schemes, S Block will collapse when when every day withdrawals exceed new funding.
Owing to the “construct your token stability” nature of app pockets Ponzi schemes, this takes time.
Whereas gullible buyers develop their SBO token balances, S Block and its high buyers withdraw the vast majority of invested funds.
As soon as important mass is reached and S Block affiliate recruitment declines, so too will new funding getting into the corporate.
Ultimately S Block might be unable to pay withdrawal requests, prompting a collapse.
The maths behind Ponzi schemes ensures that once they collapse, the vast majority of contributors lose cash.
Replace 1st December 2019 – In mid November S Block launched an funding spinoff their calling Plan Flash.