A Most Creative Fix For The Confido Mess

By now much has been written about the cryptocurrency start-up Confido. Company founder Joost Van Doorn raises and then suddenly disappears with about $375,000 sometime just after November 15th.

Confido was successfully presented as a blockchain based app using Ethereum Smart Contracts as an escrow between buyers and sellers during specific transactions.

After reaching a $375K hard cap, Confido tokens traded up 20x to reach a $10 million valuation. That is some serious fuel. Obviously investors loved Van Doorn’s business plan. So seemingly with success at hand what made Joost vanish?

Trouble was when he disappeared, Joost also deleted the Confido website and his accounts on LinkedIn and Facebook. Then CNBC claimed, none of his considerable educational claims could be verified.

The answer to what suddenly happened is unclear. The truth is mired somewhere between the media scam story and a young man terrified by threats that included death. But, in the final analysis, the truth may be irrelevant.

Here is what we understand. Mr. Van Doorn has resurfaced and is returning all of the $375K that wasn’t spent on project and related costs. We are told this amounts to 95% of the initial hard cap (In dollars, not Ether). Most important, we are assured that no tokens were ever sold by the Confido team. That pretty much eliminates any notion of a scam.

Joost Van Doorn may have panicked; we all understand how this can happen. But he is not a scammer.

Say what you will about his actions but don’t condemn the business model of Confido. There is a huge unfilled market for escrowing funds between buyers and sellers. You can fill a Whitepaper full of use cases. Van Doorn is a first rate entrepreneur.

Taking STEPS To Make All Things Right

Refunding the $375k ICO proceeds is cool, no question. But, a load of investors bought in the aftermath paying as much as 20 times the ICO price? What about their losses? Now here is a big surprise.

STEPS, which stands for Smart Trustless Escrow Payment Solution is offering to replace the nearly worthless Confido tokens for STEPS tokens via an airdrop. STEPS founder Johan Struijk and his team of six is taking the unprecedented move of offering investors who believed in Confido but had their trust broken, to have the opportunity to recover their losses.

Confido hurt a fair number of lives. Some of those most affected have come up with this solution. Johan Struijk is applying the blockchain business model similar to Confido through and ICO coming soon. Quoting the founder “It is a great business model no matter the confusion around the Confido situation.”

Assessing Risk

It is important to keep in mind several points. This is the first offer of restitution ever made. It is totally without legal obligation of any kind. If you hold Confido tokens and are understandably skeptical, you are free to pass on the STEPS offer. However, you have already lost almost everything, so to participate in the airdrop for STEPS tokens is riskless. That makes a compelling offer: a riskless investment.

Getting Information

Details of the upcoming ICO can be found at STEPSico.com. Here is what the first page clearly states.

“After it became clear to us the Confido failed to deliver, we decided to continue the project and rebrand it under the name STEPS.”

“Within the next two weeks we will be launching the pre-sale. To register for the pre-sale, you can register on the form below.”

“You will receive a 30% bonus for participating in the pre-sale.”

Now that Johan has started this truly innovative compensation offer, maybe others will follow and contribute to building greater trust in the process of Initial Coin Offerings. Good luck Johan.

Keep up to date with the current information on their social media:

https://t.me/stepsico

https://twitter.com/STEPS_ICO

https://facebook.com/StepsICO

https://reddit.com/r/StepsOfficial

Article written by James Waggoner

Jwaggoner4@gmail.com

19.12.2017