Thanks for all the info. I also saw them making few incorrect statements on EOS. Maybe the whitepaper was made before certain announcements or they just didn't do enough research. I like the fact that they have a focus on Financial industry instead of tackling everything and Singapore is a perfect place for the job. I think their speed claims are nothing more than a edge case scenario.

If the focus is on the Financial markets the real competition is with XRP and XLM and it's possible to win that market. I only skimmed through the technical paper as I don't understand it well. I read their Medium blogs and Credits do have a bunch of clever concepts.

EOS has 1 million Tx shared among every type of DAPP. So a blockchain with similar amount of Tx capacity but with a focus can do really excellent as it can guarantee zero congestion for a long time.

It was @devrim who told me about the project. Let's hope for the best.