Investors look pretty legit.
The way they distributed & sold coins sound improfessional. Can read more about it here: https://reserve.org/blog/reserve-faq
I’ve asked questions in their telegram
Venezuela is our first target. We are launching an Android app there that allows people to trade out of Boliars into s stablecoin on their phone. The Bolivar goes down an average of 10% PER DAY against the US dollar at this point. The situation is fucked. It’s the worst instance of hyperinflation in the world right now, which is a big part of what Reserve is aiming to fix.
We’re offering some financial incentives to download and share the app, and also working with salespeople on the ground to sign up merchants for accepting Reserve. So far we have gotten a really positive reception – which makes sense, given that it’s so hard to transact and store money there right now.
We are working with local merchants who like it because most of them have bank accounts in the US that they use to store their money already. We allow them to convert Reserve stablecoins into USD that is sent to their American bank accont, so that means it’s like customers can walk in and pay by depositing USD into their foreign account, which is so much better than being paid in Bolivars.
The founder doesn’t seem awesome. Maybe they’ll figure out something but overall I find it hard to believe this team can create a useful stablecoin.