InitiativeQ

What is this InitiativeQ? Is it a crypto currency?

"Initiative Q is an attempt to create a new payment network and digital currency.[1] It was created by Israeli entrepreneur Saar Wilf, who previously founded Fraud Sciences, a payment security company acquired by PayPal.[2][3][4][1] Q is backed by Cato Institute economist Lawrence H. White.[2] Unlike Bitcoin the scheme would not take measures to evade state regulation.[5] " - Wikipedia

Just google it lol