This is a very good analyses and review!

**What I see as positive aspects of the story of VIVA:**
* Extra efforts to launch low volatile currency >> required for everyday use in the mix of users local fiat currency dominated economies >> reality will need to show if they can live up to their wishes and claims
* Applications and services with businesses in mind: Key aspect to get the business community to onboard, they even speak (as far as I remember) of letting businesses paying in not only VIVA coins but also fiat; I agree to such approach and I actually think that businesses do want to invest fiat (not only in coins but also in the ability to use a service) when the service is good

**What brought me a bit of garde are:**
* India URL extension
* Mexico trial ATMs
* US based management

I do not understand this combination, especially the India URL extension.

* They have a LOT of engineering work to do to make all what they claim happen incl require a LOT of money (also in fiat to pay for all of this); Can they make this happen?
* They need a LOT of (fiat) money to be able to afford rolling out the 1.000 ATM worldwide
* It is not sure who the 'credible Mastercard' company/bank is they claim to have  deal with

But I do like their approach, since their approach is not revolutionising the world we live in, but try to build a bridge between Cryptoland and our fiat dominated world with the understanding, businesses can fund much better than the investor and the everyday user; ie they try to mix the fiat world with the new Cryptoworld and in my view understand this requires businesses.