Julia Tanner and Daniel Tanner, the founders of Platon Life and Platon Finance
The power couple, photoshopped
When Daniel and Julia first started Platon Life, they wanted to show their children and others that anyone can and should be able to build a financial legacy.
The "power couple" attended both spring and summer summits, and pitched Platon Finance, an ecosystem they cofounded - with "insured" digital wallets for their crypto coins. The insurance does not cover devaluation of the token, though. Hence quotation marks.
Tanners' incoherence takes the prize. They cannot even go through a scripted interview with the CEO Magazine's three standard questions without sounding out of their mind:
- Platon Life is the digital platform for digital currencies with insurance, insured wallets until one million affira, also with the foundations connected, and education.
- What does that mean exactly?
- So it means that we are more interactive, we care more for the people, because there is a lack of education about currencies, uh, cryptocurrencies and what's going on in the new world of digitalizations.
And when you have the "insured wallet", what then?
- So, the, um, our member has our coins and, uh, he goes to the store, and there are partners. He chooses from who he wants to buy what what he needs at that time, and he just spends the coins and that's it, he's got the voucher, he goes with the voucher to the store, and he gets his uh merch. what he wants.
Perhaps Mr. Ritossa should charge extra for an option not to do the interview…
For publicity, Tanners use a familiar scheme: hire a newswire company, such as Newsfile, that for a few hundred dollars pushes your press release to outlets such as Bloomberg and Nasdaq, who publishes it in their press releases feeds. You then post Bloomberg and Nasdaq logos on your website, with links, and the gullible "investors" then beleive that Bloomberg and Nasdaq write about you, unaware on how PR sections work.
Another clever PR-trick by Platon, is purchasing run-of-the-mill technology solitions from companies like Symantec and Microsoft, and then using case studies as confirmation of endorsement by the tech giants.
Platoncoin (PLTC)
The original review was based on subjective factors - personalities and literacy of the founders. Let's take a look at the fundamentals.
At the heart of Platon is Platoncoin, ERC20 token based on the Ethereum network. Creation of such a token takes only minutes, and no technical expertise is necessary.
According to their whitepaper, the use-case for the token is the sole method of payment within its closed ecosystem. However, the white paper stresses repeatedly that PLTC is not a currency, a payment method, or an investment instrument. This "limitation" is undoubtedly an attempt to evade the scrutiny of securities’ regulators. However, the token has no intrinsic value, and no use outside of Platon’s centralized network.
The white paper itself, that is 8 times longer than bitcoin's, contains an immense amoun of word-stuffing:
A page from Platon's white paper
Platon originally planned to issue 21 million of PLTC (as per the whitepaper), but then the supply was increased fifteenfold, to 300 millions.
Update November 11, 2022
PLTC trading has practically stopped on the three exchanges (digfinex, changelly, hitbtc) it was listed on, known to inflate volumes and therefore easy to manipulate prices.
A raid took place in the House of Fashion in Prague's Wenceslas Square, the target was the company Platon Life and its founders - husband and wife Daniel and Julia Tanner. Police searched the company's offices. Platon Life is a financial technology start-up, a company focused on trading cryptocurrencies, including its own, the so-called PlatonCoin. However, detectives suspect that it was actually a "Ponzi scheme". Several celebrities used for instagram-advertiding of Platon have also been engulfed in the scandal.
Platon Finance's web site is now offline.
Our verdict:
