The mentioned consensus seems to be very interesting especially when it comes to who users have the authority in the validation process.
Federated trust as decribed by GeeqCorp is precisely how humanity has done monetary transactions for centuries. Merely throwing in a blockchain for good measure doesn't change anything. Getting rid of federated trust is what made Bitcoin so revolutionary. Returning to it seems rather regressive.
[...] but I think we should not criticize the project as it is still in the beginning of developing and we haven't seen proof of Honesty in practice.
That's how public discourse works though. Otherwise they should have just worked in the shadows and presented the world with a finished product.