A smart contract is a digital protocol that enables two parties to come into an agreement without having an entity that acts as an intermediary. These contracts do not have an intermediary as they are working on the blockchain.
Forsage is a program that works with smart contracts in order to earn cryptocurrencies, specifically Ethereum. On February 6, 2020, this platform became the first multi-level marketing/network marketing to use smart contracts on the Ethereum blockchain to build a true 100% Decentralized Crowdfund Matrix Platform.
This program allows people to work from home or anywhere they want, and it has no work schedule as people can work whenever they want too. It is an enterprise that claims that it is from people for the people as it does not have admins or CEO. It works using the blockchain in order to maintain transparency. It only requires a small investment in cryptocurrencies, equivalent to an average of $12 and a wallet that works with smart contracts like Trust Wallet or MetaMask to retrieve the profit.
Importantly, everybody with internet access from a computer or smartphone can use the Forsage system. However, it depends on the platform used for smart contracts. If MetaMask, it only works from a computer as it works as an extension from google chrome. And if it is Trust Wallet, forsage can be used from the comfort of a mobile device as it has an app that works on Android and iOS.
It is a platform designed to be on everybody’s reach due to its easy access and entry fee. As the trend of the virtual currency exchanges is gaining more and more ground on the global economy and through the internet, it is no surprise that new platforms arise to increase their popularity while making money. Anyone with access to webinars related to this topic or social networks like Facebook or twitter will be able to see propaganda from different programs looking for new investors.
A smart contract is a digital protocol that enables two parties to come into an agreement without having an entity that acts as an intermediary. These contracts do not have an intermediary as they are working on the blockchain. This decentralized system distributes all of the data between all of the systems that act as a node. These nodes are linked through a network with other nodes to keep the servers working and in everybody’s hands. These contracts have plenty of uses and a lot of advantages. They can be used within the healthcare system to keep track of patients, or it can be used for animals to keep a count of the species. It has a vast amount of uses. It also offers trust, backup of the data, and safety as these contracts are encrypted. The IP address of the nodes that provides the network cannot be traced, and therefore, these contracts cannot be hacked.
Now, Forsage Smart Contracts offers a policy of zero risk factors and instant peer-to-peer payments as they are based on the blockchain. They have their terms, which are the whole matrix system and the reward system, however, to get the reward, the interested party asides form the initial investment to initiate the contract will have to provide them new investment contracts, and when these conditions are fulfilled the contract is considered complete.
Forsage compensation plan goes from the initial fee to the commission earned after the matrix is complete. Forsage offers work at the home model in which earnings are described as a passive income due to its referral nature. The compensation depends on the type of matrix used and the level in which the investor decides to make his contract.
Despite the press release from the SEC in which Forsage is labeled as a possible Ponzi scheme, there are several reasons to believe in this platform. It is a platform based on Smart Contracts, and that is what makes Forsage so different from any of the other platforms that promise passive incomes. As explained, a smart contract is a code written contract within the blockchain that works only if the conditions are fulfilled, if not, the money stays “frozen” until the conditions are completely fulfilled.
The invested money does not go to anyone as the blockchain will not allow it because it is not in its code, the admin has no say in this particular point because these contracts cannot be broken as it is the way they are coded and that is the magic of this platform called Forsage. It is a transparent platform in which every transaction is recorded and stays in the script for anyone who wants can see them. That is why most of the governments do not like the blockchain system, because of its transparency and the security it offers to its users so anyone can see what happens with the data collected within the system.
As the website claims, it does not matter if the website is shut down; then again, this due to the smart contracts and the blockchain. This is a unique system that does not require a webpage to work as it stays permanently within the Ethereum network and will continue to produce passive incomes for all of its users. This is why the government cannot do anything about this platform and its permanency on the blockchain.
Originally published at https://medium.com on July 17, 2020
