Launched around 2016-2017 by founder Alex Reinhardt, Platincoin (PLC) was presented as a digital currency ecosystem designed to provide passive income to its users. The core business model involved selling "minting farm" packages that would generate new Platincoin tokens over time, promising high returns. The project heavily relied on a network marketing or multi-level marketing (MLM) strategy for promotion and distribution. Over time, the project has undergone several rebranding efforts, introducing new coins like PLC Ultima (PLCU) and, more recently, Smart Coin (SMART), with the stated mission of creating a global crypto payment and infrastructure system.