Cryptocurrency and the blockchain seem to be fertile ground when it comes to multi-level marketing schemes. Although cryptocurrencies have been a thing for about a decade or so, it was only the past three years or so when a few people have thought of making a multi-level marketing scheme that involves crypto. What’s really weird about it is that there isn’t really that much you can do with crypto, in terms of how MLMs usually operate. The structure is there. But the product is not. The most common MLM companies often offer products that people can actually use. Whether it’s nutritional supplements, clothes, makeup or kitchen supplies, there’s a least some usability. But crypto?
Smart Business Corp, in its current form, has a bit of a history. Ernesto Resendiz launched the first iteration of Smart Business Corp in Mexico around the early 2010’s. Though in some of its earlier ventures, SBC was apparently founded in 1996. There isn’t really any clear information about SBC that I can find on its website. That’s actually a big red flag, to be honest. They could at least include information about its corporate structure. The website itself looks clean and modern. But there is no other information available to browse except what’s on the homepage.
Anyway, the first iteration of Smart Business Corp collapsed. Resendiz then decided to launch a whole new venture called IBF International. The gist of that venture is that you put $410 into the company in order to earn an ROI of $100 every month. How that works? I’m not really sure. But if I had to guess, you have to recruit other people to also put $410 in the whole thing. That whole thing expanded to a few more countries in South American before collapsing in 2014. He gets arrested in the same year. But that’s neither here nor there. Eventually, he launches a trading platform called Smart Fund Limited. It doesn’t really go anywhere so Resendiz decided to relaunch Smart Business Corp in 2020.
There isn’t really anything you can find regarding how much it costs to join Smart Business Corp on its website. I still don’t understand it. It just seems like a really dumb idea to withhold a lot of very useful information on a website that’s about your business. Through a bit of digging, I found that you have to pay a one-time fee of either $795 for a basic membership or $995 for a premium membership. You can also choose to put more money into this if you want to. But, man, a thousand dollars is pretty steep for whatever Smart Business Corp is about. It doesn’t seem like a smart business decision, if you ask me.
Apparently, Smart Business Corp helps you earn money from trading? It’s really hard to machine-translate some of the marketing materials that SBC puts out. It doesn’t really seem like it wants to target many people outside of South America. It’s easier to keep a more specific audience, I guess? How exactly you get money through Smart Business Corp is questionable at best. A lot of MLM companies that don’t have any retail services, i.e. products or services you can actually use, are ones you should avoid. I mean, you should avoid all MLM companies because it’s hard to actually earn money through an MLM structure. But ones that you just put money into hoping a bunch of graphs and whatnot will increase your investment two-fold in just a few days are ones you should definitely avoid.
The money you put in Smart Business Corp is invested to some cryptocurrency. Some crypto-related MLMs like GSPartners and Hyperfund have their own cryptocurrency. You have to invest money, in the form of a more commonly used cryptocurrency, in order to get those in-house cryptocurrencies. Since a lot of people are putting money into that specific cryptocurrency, the value of it will obviously rise. But when people no longer put money into those companies, the value of that cryptocurrency will crater hard. I think SBC invests the money you put into the company toward a more common cryptocurrency. But like a lot of cryptocurrencies, the value of it will obviously fluctuate.
You get a commission when you recruit somebody to join SBC. Somehow, in order to get compensated, you have to reach a certain quota like they do in most MLMs. But how you get your commission when the whole structure of SBC requires money to keep coming is kind of confusing. Especially since there’s not really anything you can sell to people except the prospect of possibly earning money.