Lately, social and mainstream media have been flooded with discussions about online digital businesses. While some netizens objected, warning them of possible scams, professionals defended it as legitimate like any other business.
It is feared that the company is a pyramid scheme disguised as a multi-level marketing scheme where old members incentivize new members for certain economic benefits.
Members who have reached higher levels profit from the sale by new recruits of water ionization machines and other products in percentages. The business is ubiquitous in nature as it attracts new members due to the misleading advertisement of making easy money doing digital business. There is no mention of the need to sell the products on any of the digital entrepreneurs pages.
While authorities from relevant organizations are expected to investigate and issue opinions, there are fears that the company could collapse when the market is saturated, robbing new investors of their hard-earned cash. Diets will only last as long as there are people who adhere to them.
Many pyramid schemes have already been reported in the country. The Ministry of Economic Affairs previously considered many of these schemes to be unfair trade practices.
We are a gullible and naive society. We want temporary prosperity. We all want to make easy money.
As advances in technology facilitate online scams and pyramid schemes function as multi-level marketing or network schemes, it is imperative that authorities verify whether the company’s acts, methods or practices are unfair, unacceptable or misleading.
The Covid-19 pandemic had already made life difficult for many. No one should be fooled into companies that use products or services to collect money from lower level investors in order to pay other investors higher up the pyramid.
While legitimate as claimed, it is also the responsibility of authorities such as the Consumer Protection Board, the Department of Commerce and the Royal Monetary Authority to ensure the system does not collapse. . There should also be laws that protect the innocent and those who lure others into the business should be held accountable if it collapses.
Although every citizen has the right to invest money in any business, it is good to be wary of companies that focus on recruiting new people and selling products quietly. Any business that needs to be done secretly has something to hide. Products or services should not be a cover to get more people into the business.
Let’s not forget that we live in a country that emphasizes the well-being and happiness of everyone. Any pyramid scheme disguised as multi-level marketing will not only affect investors, but their families and the country’s economy as a whole.