PLC Ultima is a new project that aims to change the world of blockchain for millions of people. But is that true, or is it just another well-made lie?
In this piece, we talk about everything you need to know about Project Ultima and then tell you about our own experiences.
About PLC Ultima
On the website, the word “innovation” is written with a capital letter, and there are a few buzzwords and exciting news items. There isn’t a clear account of the project, but sometimes you can find the following:
“PLC Ultima is a large-scale infrastructure project that combines the new ideas of blockchain technology with the stability of dozens of tried-and-true business models.”
“PLC Ultima is a link between the traditional world of business and the world of cryptocurrencies. PLCU offers new business solutions that let merchants from all over the world sell their goods for cryptocurrency and connect with crypto enthusiasts from all over the world.
Below are two more functions, such as “Wallet” and “Farming,” which let you store your coins and make more of them.
So far, there hasn’t been anything new or different. Many projects explain themselves in the same way, and at first glance, the two apps Ultima Wallet and Ultima Farm are no different. So, at first look, there isn’t anything that stands out or is new. But let’s get to the facts.
PLC Ultima: The Facts
Now, let’s talk about the things that make up the project. There are a lot of claims and points of view, but in the end, numbers, data, and facts are what matter.
The team at PLC Ultima
The team and its past are always one of the most important parts of a blockchain project. In the end, it is very important, especially for new tasks, that the people on the team already have experience, knowledge, and a track record in this area. The world of blockchain is complicated, and adding new ideas to it takes a lot of knowledge and experience.
There is a lot of talk about a team of the world’s best blockchain coders, but not a single one of them can be found on the website. No sign of the CTO or other key developers can be found.
As CMO, Dennis Loos gets a lot of attention on the website. But there is no mention of this person in the blockchain area or in blockchain projects that have been done well.
Only on LinkedIn can you find out about his past jobs. This is made up of a lot of different salespeople, especially in network marketing. This is also how he is described on this site, which is called “Network Marketing Profit.” The blockchain can’t be found anywhere. Everyone can now make up their minds.
Alexander Reinhardt’s job isn’t explained on the website, but he and Dennis Loos are both shown in a big way on the home page. This man is only called “founder,” but you can learn some interesting things about him. Based on LinkedIn, this person seems to be an expert in IT and Bitcoin.
You can see that Mr. Reinhardt was sometimes the founder of Platincoin from his work history. We don’t want to go into more information about what this project is about and how well it’s going right now. When you look at the map, it tells you everything you need to know.
Alexander Reinhardt was also one of the most important people in the Swiss Coin. Another project on the blockchain that promised a lot. Again, we don’t need to go into more depth because the course is the same as the Platincoin. So far, Mr. Reinhardt has pulled off two exit scams, in which investors lost millions of dollars and BaFin and FMA sent out clear warnings.
Lastly, the website doesn’t have a CEO or a CTO. Both are important roles for a blockchain project. Here, no one has even tried to set up straw men, and in general, this has been avoided. Most of the time, the people behind it think that you aren’t who you say you are. For a banking company is extremely questionable.
Legal Setup at PLC Ultima
You should also think about the legal entity or legal structure behind it as part of your due research. Again, some signs make people worry about how bad it is. “PLC TECHNOLOGY LTD” is a legal business that is based in Cyprus. Even though this is still in the EU, companies that don’t want to follow Central European rules like to do business here. When you say BaFin and FMA.There is also no more information about the owners or the people in charge.
But the simple study shows that the address “35 ACHAION STREET, 5TH FLOOR, OFFICE 17, PC” is not an office building for PLC Ultima. Instead, it is a mailbox building where dozens of mailbox companies are registered. The company “Platinum Gensis DMCC,” which is the legal body that sends the bills, is based in Dubai in DMCC.
Even though the company is mostly involved in Europe, there are no European regulations in place here either. If you look at the Company Register more closely, you’ll see that their business doesn’t have any titles that are still valid. Only “Marketing Management”, which has nothing to do with the main business.
Domain – PLCUltima.com
The plan of anonymity continues when you look at the domain. The registrar and person in charge of big, serious, and long-term projects are always easy to find, but PLC Ultima has cleverly hidden again.
Of course, this isn’t the only thing that makes a KO, but it does complete the scene. On the analysis platform similiarweb.com, there isn’t much information about visitors and views for plcultima.com either. With your groundbreaking project, which has already been used by hundreds of thousands or even millions of people, this seems very unlikely. Here, the real number of entry points should be much higher.
Tech at PLC Ultima
But sometimes technology is the most important part of the project. On the website, you can find these interesting facts about blockchain. As far as you know, it’s easy to see how similar this idea is to Platincoin and Swisscoin. Is this a technological change or just the return of two projects that have already failed? Again, everyone can make up their minds.
With the help of the Blockchain Explorer, here is a look at the blockchain. There are also things here that make you think, which is interesting. All of the transactions in the first 100 blocks are the same size, which is 6,000 PLCU. This is not how blocks usually work; these were targeted transactions that were done before the public launch.
From block 101 on, there are no longer any minting amounts. This makes it clear that this is not really about minting. Or, to put it more properly, the minting has already been done by the people who started the company. Then, future customers won’t take part. But the necessary hardware (Minter) is sold at a high price and marketed as part of the infrastructure for better yields.
What we learned from PLC Ultima
We haven’t worked on any of the projects ourselves, and our due diligence has led us to decide not to spend. But we know that some people in our group have already lost money because of problems with Swisscoin, Platincoin, and PLC Ultima.
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