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ICO Analysis: 300Cubits’ TEU

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The TEU token is a project of 300cubits, which is owned by ETH Smart Contract Tech Ltd, a company based in Hong Kong which was founded on the 10th of last month. Their whitepaper really needs some good editing, and that could be why it hasn’t generated quite so much buzz (to this author’s knowledge) on this side of the world. But we won’t take away too much from their innovation or business model on such grounds. It’s easy to get lost in a slick production or a bad one and lose out on good opportunities or miss important warning signs.

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Billing itself as “a cryptocurrency that propels ships,” the aim of the TEU token is to become the settlement currency for the shipping industry. In plain terms, the white paper identifies that dishonesty is rampant within the international shipping industry, and thus it needs transparency that a blockchain can bring.

One prominent shipping executive always says that everyone lies in the container shipping industry. Lies that we do not know, but one thing we know first handed is that the shipment agreements in container shipping are often not honored. Service contracts get re-opened when the freight rates have changed so much. And it happens so often in recent years that freight rates could swing 50-100% within a year or even within a month.

In general, an immutable ledger will be a value-added application for any industry which has a lot of moving parts. TEU understands this and says that they are already adding value as soon as they become available. The shipping industry is massive, after all, and it wouldn’t take an incredibly large slice to make some good money. Moreover, as they have one success after another, they are likely to expand operations across the world. An open ledger would also allow the industry to build its own applications to interface with the TEU token. All of these opportunities mean great potential, but we don’t share the confidence of the white paper in a single release of a cryptocurrency independent of everything else.

We are not suggesting a potential. We believe the TEU tokens will instantly add monetary value to the industry, much like a capital injection. How? A certain percentage of our tokens will be given out for free to the container liners, their customers and those who actively promote the tokens for early adoption. A successful Initial Token Sale (ITS) will automatically monetarize the TEU tokens. Use of the TEU tokens by industry players will validate and enhance the value of the TEU tokens. The adoption of the TEU tokens in the container shipping industry, in return, will influence its trading activities at cryptocurrency exchanges.

Shipping Industry Problem Solver?

In general, it is preferred that solutions for industries come from within them. This way the people creating the solutions have the most intimate knowledge of the industry at hand. Luckily, leadership roles filled by Johnson Leung and Jonathan Lee are leaning on fifty years of experience between them in both banking and shipping. As we often stress here, long careers like these mean connections to the actual means to get the job done. Thus, we feel it is positive that the leadership have spent their lives in the industry they now aim to disrupt.

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TEU stands for “twenty-foot equivalent unit,” which is a measurement used in the shipping industry. The contention of 300Cubits is that the shipping industry is woefully inefficient, and that fraud can be significantly reduced with the blockchain. Their goal is to become the primary settlement currency of the global shipping industry.

How Fast Will The Industry Really Adopt & Adapt?

In concept, Bitcoin, Litecoin, Dashpay, and especially Ethereum should see widespread, fast adoption amongst legacy industries. But they see anything but. The network effect of money is a well-established concept. 300Cubits approaches this project with the idea firmly in hand that they will be adding value. The industry experience of the board has them feeling that this sort of thing will take off quickly, and that their connections can help it get going, it seems. But the problem is: these are promises that are easy to break.

Market penetration is one of the hardest things to bet on, and then we’ve got things like this which are going to slow it a bit more:

Unlike the existing service contracts in the container shipping industry, the smart contracts governing the transactions of the TEU tokens are coded with a set of immutable conditions. Once committed, neither party can alter what has been agreed.

Now, what sort of parties might take issue with such a proposal?

Answer: governments and corporations which benefit from negotiable contracts, ie, whoever is on the take in the shipping industry. Like as not, the self-same people are also at the helm of a few of the companies being targeted by this disruption. While shipping customers might see this idea as totally revolutionary, and a few Hong Kong-based veterans might have a great solution they’re getting fully behind, what you’re really asking for is the whole pie. Use of the TEU token is going to be dependent on companies making use of it – being willing to sign immutable contracts, implementing technology to ensure them, and so forth. Problematic to say the least. From a technological standpoint, sounds like fun. From an investor’s standpoint, sounds like either unicorn or minotaur.

To promote the usage of TEU tokens, we will develop a community with an IT infrastructure, which we call TEU Ecosystem, interested industry participants, application developers etc., to establish the TEU tokens as the de facto cryptocurrency for the container shipping industry. The TEU Ecosystem will include Smart Contract Builder Module, Booking Module, Market Place Module and Positive Credit Agency Module.

The above all sounds great – except, well, none of it circumvents what precedes it, and all of it leaves out the obvious specter of attrition which arises from competing efforts established either in real terms or conceptually.

TEU Token Details

There will be two TEU token sales, during which 40% of the tokens are sold off. A sum total of 100,000,000 tokens will be the fixed supply of the TEU token system. The numerical distribution of this 40% gets interesting:

The amount of TEU tokens to be given out to the industry users will be based on the market value discovered after the ITS as well as its trading activities on cryptocurrency exchanges. […] Based on the value reflected in TEU token trading, industry users shall determine how many TEU tokens to be used for each shipment booking in order to provide an adequate but not excessive economic incentive to both parties to honor the shipment booking. Based on all container liners’ revenue divided by the global container shipment volume at 190mn TEU per year.

They intend to do a second run with the same numbers, a 40% distribution with amounts purchased determined based on an industry scale that most investors will have no experience with. The TEU team will retain a full 54% for marketing and development, and another 6% of the tokens for themselves. Of this marketing & development fund, they authorize themselves to give away as many as they please:

A percentage of the TEU tokens will be given out for free to a selected group of container liners and their customers, or employees of shipping industry to promote the use of TEU tokens as shipment booking deposits and the de facto industry cryptocurrency in general.

Free services don’t exactly raise the value of an offering, but in our era they don’t lower it, either, necessarily. Further, this sounds like a plan to get industry partners on board – okay, good. But, if only a sum of 40% of tokens is on the market at opening, it’s hard to see a real valuation coming out of this thing before it’s completed its second run and markets start operating on 40%.

300Cubits Long-Term Operations

The TEU token is by design like money that performs as value storage, medium of exchange and, when established as the de facto cryptocurrency for container shipping industry, unit of account. Like the use of money, the use of TEU tokens is nearly free except for the gas payment in ETH for miners in the network who ensure the integrity of the public ledger. […] 300cubits will operate on fees generated from the use of TEU Ecosystem that contains modules namely the Smart Contract Builder Module, Booking Module, Market Place Module and Positive Credit Agency Module. Except Positive Credit Agency Module, all modules will need to deploy or execute part of the smart contracts at different stages where some TEU tokens will automatically be exchanged into ETH to cover the gas fees.

Okay, so at least they intend to go down with the ship. See point below.

The Verdict

Ethereum Smart Contracts are a good business to get into at this point in history. We learned from this whitepaper and project that the shipping industry is not currently such. As to the Twenty-foot Equivalent Unit token, we’re leaning toward it being dead in the water.

Risk

  • Little oversight over distribution of initial “marketing & development” team.
  • Way too much with-held from the economy.
  • Industry adoption seems slow if at all possible – despite hype by subject.
  • Price discovery and supply model might be gamable. After all, the industry in question essentially controls the global container freight rate. One scenario imaginable is in which the various cartels conglomerate, raise rates temporarily, wait for TEU tokens to be distributed and sold, and then go back to normal rates. This means that all speculators would have paid an extreme premium.
    • It’s not hard to imagine once you’ve done a bit of research into how the shipping industry actually works. Everything from unions to greedy governments to pirates can throw rates in disarray.

Growth Potential

  • As is often the case, one of the points from the risk category is also a growth factor – in token valuation only. Lots of factors could push industry participants toward the TEU, including unpredictable factors on the open seas.
  • 300Cubits will have some usable products that come out of their existence, but whether they are what they expect or not remains to be seen. In much the same way that numerous banks wanted “blockchain but not Bitcoin,” industry might be very interested in the ability to accurately predict demand for containers – whether that would be worth paying into the TEU system or not remains to be seen. It should be noted that they currently intend to force all users to interact through their system, but supply and demand rule all.
  • A successful disruption of this industry leads to trillions in revenue over decades. This statement is not meant to be mistaken as one which implies that TEU will successfully disrupt global shipping lanes.

Disposition

TEU passes all the checks for “grandiose vaporware.” Let us have a look at their “steps accomplished so far:”

  • Selected Ethereum network as the Foundation Layer of the solution
  • Completed coding of a set of core smart contracts usingSolidity, including the ITS, ERC20 compliant TEU tokensand various shipping prototype smart contracts, etc.
  • Started to test the smart contracts in atestnet environment and live chain of the Ethereum.
  • Formulated the IT infrastructure, which is called TEU Ecosystem for TEU tokens.
  • Completed concept development of various application modules.

Now, they want to raise a bunch of cash and continue on their roadmap. They give themselves until January to recruit programmers and marketers and then release an early version of the Booking Contract Builder d’application.

Groovy. But not with our money.

We rate TEU 3.0 out of 10 for effort. The best approach for this ICO is to see how the first “ITS” (ICO round) goes and reconsider then. We will re-evaluate after August 30th, when their Initial Token Sale concludes, in preparation for their second sale which begins September 13th.

Investment Details

  • Minimum .1 Ether investment. Don’t be like this guy.
  • TEU token will have 18 decimals.
  • “Allotment of TEU pool of a period is based on the proportion of ETH contributed of a contributor among all ETH contributions of the same period.”
    • Translation: “The amount you will get is not defined at time of transaction.”
  • Be sure to use the official website if you decide to jump on the ITS. https://300cubits.tech/
    • Further, be sure to check out pages 19 and forward in the whitepaper. Read the fine print. These are not regulated securities you are dealing with, so it’s never a good idea to proceed without caution.

 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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  1. embersburnbrightly

    August 7, 2017 at 3:41 pm

    As always, your reviews are incredibly detailed and informative. Thank you.

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ICO Analysis: Verasity (VRA)

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Verasity is a video-sharing platform that caters to content creators and rewards viewers with VERA tokens just for watching content, sharing videos, watching ads and for referrals. Over the past few years, brands have shifted their advertising model to allow influencers to share products with their audience. This gives products a much more personal touch and translates to better conversions.

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Verasity will provide a way for viewers to help support their favorite channels by the use of VeraSparks. VeraSparks is a smart contract that allows viewers to buy and own a portion of a channel, and be rewarded with profits especially in future growth.

How is Verasity different than the competition in this field? Verasity is the only platform combining the following: Decentralized Proprietary Blockchain, Proof of View (PoV) – patent pending, Watch and Earn, Centralized Video Distribution, VeraSparks and the Spark Marketplace, and multiple ways for creators and users to earn VERA tokens. Just one of Veracity’s features, Proof of View (PoV), will help solve the problem of fake reviews that affect creators and advertisers.

Token

The VERA token is an ERC-20 token used as a payment method between brands and creators directly ensuring that brand placements are verified through Verasity’s Proof of View technology. Not only do brands now have direct access to content creators, but advertisers have the opportunity to reward viewers. Views are recorded on the blockchain so that validating viewer interaction is easily auditable. Proof of View is Verasity’s Patent Pending (*US and international patent pending, application number 62627285) system that provides more accurate audience metrics than traditional methods.

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Team

The list of team members and advisers on their website is quite extensive compared to the majority of ICOs. The team and advisers are showing commitment to the project with team tokens locked for 18 months and advisor tokens locked for 9 months. A few team members include: 

David Orman – CEO & Co-Founder

  • Founding Partner – Hatch-House
  • Founder – Namro Ventures Ltd
  • Advisor – Carabiner Partners
  • Formerly VP of Joost

David Rowe – Co-Founder

  • CEO – Black Green Capital
  • Founder – Hydro66
  • Founder – Easynet Group
  • Former Managing Board Member – Sky

Chris Gale – Co-Founder

  • Founder & CEO – Odyssey Mobile
  • Founder – TouchTab
  • Former CEO – Level Up Media Ltd
  • Crypto Investor & Blockchain Advisor

Adam Simmons – Co-Founder

  • Former VP Marketing – Level Up Media Ltd
  • Owner – Madals TV

Advisers include: 

Dr. Christian Jaag – Advisor

  • Founder – Cryptoeconomics
  • Managing Partner – Swiss Economics
  • Lecturer – Universities of St. Galen and Zurich

Matt Heiman – Advisor

  • Founder – Diagonal View
  • Founder – Mobix Trading
  • Founding Investor – Just Giving
  • Adviser – Channel 4, Visimo, The Cloud, Palringo

Jin Young Choi – Verasity Ambassador for Asia

  • CEO – Bitbank
  • CEO – Woorim Holdings
  • CEO – East Nine Company Ltd
  • CEO – Vision Group Company Ltd
  • Permanent CEO – D!conomy LAB
  • Executive Commissioner of World Franchise Council
  • Former Mayor of Namon City

Joel Kovshoff – Advisor

  • Founder and CEO – MyICOPool
  • Founder and CEO – Athena Trading Bot
  • Blockchain Advisor and Educator
  • A complete list of team members and advisors can be found at verasity.io.

Verdict

Verasity will use blockchain technology to finally have a transparent and reliable solution to the many problems facing the video sharing industry. Some of the key features of Verasity’s blockchain technologies are: Verasity High-Performance Blockchain, VERA Transactions, Proof of View (patent pending) and DPoS. All of the videos run off of VeraPlayer, which is a blockchain enabled video player that allows users to view content securely from many mobile and desktop devices without the need to install additional software. Verasity has partnered with Akamai, a leading global content distribution network. This enables Verasity to deliver over 8 PetaBytes of video data per month, allowing them to scale quickly. If Verasity continues to deliver on the benchmarks outlined on their roadmap, they could quickly become a major player in this highly competitive field.

Risks

  • Although Verasity is unique with their own blockchain and PoV, it still has competition such as Steem, Basic Attention Token, Props, and Flixxo. -1.25
  • The hard cap is on the high side at 6,245,750,000 VRA which equates to over $46M USD. -1.5

Growth Potential

  • Verasity has a large and experienced team along with top-notch advisers that are capable of building and scaling the company successfully. +4
  • Having multiple ways to earn for creators and viewers has the potential to grow at a fast pace while their partnership with Akamai will allow for scalability. Basic Attention Token may use Verasity as its default video player. +3.5
  • Hype and community are important to create exposure for ICOs. Verasity has over 41k telegram members, 10k Twitter followers, and 237k Facebook followers. +2.5

Disposition

Blockchain platforms are in high demand right now. Verasity is no exception. With internet traffic being worth $312 billion by 2021, online video is set to account for 82% of all traffic. Company giants such as Facebook and Google generated $191 billion in advertising revenue in 2017. Personal data has become the new commodity and Verasity aims to reward creators and content publishers. Verasity is 100% SICOP compliant (Sustainable ICOs Protocol) which defines rules and methodology to determine whether ICOs are secure, follow good practices and ethical rules. Verasity is one of the few ICOs that is completely compliant. In an ICO atmosphere riddled with scams, this gives Verasity a head start. Due to the enormous potential as a successful first mover and the fact that they have followed very strict rules to be ethically compliant, Verasity receives a rating of 7.25 out of 10.

Investment Details

  • Symbol: VRA
  • Price: 1 VRA = 0.0075 USD increases by 1% per 24 hours during sale
  • MVP/Prototype: Available
  • Platform: Ethereum
  • Payments Accepted: ETH, BTC
  • Total Token Supply: 12,491,500,000
  • Hard Cap: 6,245,750,000 VRA
  • Min Purchase: 10,000 VRA
  • Restricted Areas: USA (Accredited only), Cayman Islands, North Korea, Somalia, Yemen

Learn more about Verasity:
Website
Whitepaper
Token Sale Info

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 37 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




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ICO Analysis: Cardium

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Venture capitalist Anthony Pompliano of Morgan Creek Blockchain Capital is looking to “tokenize the world,” and he recently said that eventually, all assets will be on the blockchain. He might get his wish sooner than he thinks, as evidenced by one of the latest blockchain startups planning an ICO.

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Russia-based Cardium basically brings FitBit to the blockchain with a proprietary device dubbed fitness tracker that’s similarly worn on the wrist and is the heart of the project. Cardium, which is designed to tackle the issue of obesity and the chronic diseases it leaves in its wake, like diabetes and cancer, tokenizes daily activity and incentives users with a digital currency as a reward.

It’s a massive ecosystem, one comprised not only of a native digital currency but also a partner gym-fueled mining pool that generates additional tokens that fuel the platform. The reason for gym-mining is to motivate members to participate in high-speed mining activity at participating gyms and while they’re there, exercising and socializing.

The problem Cardium is looking to solve is real, as evidenced by predictions for excess weight and obesity to affect 20% of the global population by 2025. These issues are especially pervasive in but not limited to developing nations. Cardium believes that by incentivizing its members with a reward for physical activity, whether high-intensity or moderate, people will prioritize cardiovascular activity. Cardium is looking to ride the wave of the second generation of wearable devices, one that Cardium believes will work in tandem with the Internet of Things (IoT) technology for autonomous smart devices.

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Here are a few of the features of its device:

  • “Tracking the number of steps and calories and setting goals”
  • “Monitoring the effectiveness and quality of sleep”
  • “Heart rate measurement

For every calorie users burn, they receive Cardium tokens.

Token

Cardium (CAD) is an ERC-20 smart-contract fueled token on the Ethereum network. CAD tokens that are generated from mining can be directed toward the partner network, such as gym membership discounts and sports product promotions, for instance. Cardium estimates that by consuming 2,000 KCALs per day, users can earn 2.64 CAD tokens daily based on the number of calories burned. Cardium has placed a ceiling on the lifetime number of tokens at 475,372,000,000 based on expectations to reach 100 million people over a decade. Any unused tokens will be burned.

Source: Cardium White Paper

Team

Cardium’s management team is comprised of four co-founders.

Philipp Klimov is founder and CEO. He boasts experience at leading Russian cybersecurity firm Kaspersky and experience in DDoS prevention, which bolsters the security profile of Cardium.

Alexander Perminov, anothe co-founder, specializes in data analytics.

Co-Founder Roman Chistyakov brings two decades of experience at major Russian corporations to the table, including Accenture, Rosneft and others.

Sergey Chernikov, co-founder and CTO, specializes in “database design, performance and high-load systems.”

Verdict

Cardium makes it difficult to disagree with physical fitness on the blockchain, and the partner network adds another layer of engagement. Investors should bear in mind, however, that the fitness tracker device wasn’t even a twinkle in the eye of its developers a year ago. It was born at the height of the cryptocurrency fever in December 2017.

While that doesn’t undermine the deal, it does increase the risk. Cardium must promote their brand and people must be willing to use their ecosystem. Otherwise, the reward tokens lose their appeal. If their roadmap materializes, this project could be a winner.

Risks

  • Cardium is a new concept that began at year-end 2017. While the startup has a defined roadmap through year-end 2018, it’s unclear if their fitness tracker is in development yet (samples are being tested this month, according to the company’s roadmap). There’s no history of performance or guarantee the market has room for another fitness tracker. -2.5
  • This brings up another risk, which is the possibility that a company like FitBit, that has proven sales, or worse Google or Apple, which similarly boast wearable products, could decide to integrate blockchain technology and issue digital tokens, which would raise the competition stakes significantly. -2

Growth Opportunity

  • Demand for wearable devices is on the rise, as illustrated below. Meanwhile, and while this part is unfortunate, the number of people with an excessive body mass index (BMI) is also increasing. Cardium has figured out a way to capitalize on each of these trends while at the same time improving the health of the global population. +4

Source: Cardium White Paper

  • Even though Cardium hasn’t generated any sales yet, they have a defined path to do so. The company will generate revenue from sales of the fitness tracker, a device by which all physical activity is measured and sent back to a smartphone and later to Cardium. They expect in year one to “attract” 10 million people and generate EBITDA of USD 150 million. +3
  • Innovation. Cardium’s concept of tokenizing daily activities could be brilliant. Consider the former wildly popular US television competition, “The Biggest Loser”. For 17 seasons, overweight contestants were tasked with losing weight by the carrot and stick method including a USD 250,000 prize reserved for one lucky winner. +3.5
  • Cardium is being advised by Moscow-based Conner & Company for the ICO. This relationship provides greater transparency to potential ICO participants and is a plus. +1.5

Disposition

We arrive at a score of 7.5 out of 10 for the Cardium ICO.

Investment Details

  • Token Type: Utility
  • Platform: ERC20/Ethereum
  • Symbol: CAD
  • Public Crowdsale: June 1 to June 30, 2018
  • Number of Tokens to be Issued: 475,372,000,000
  • Price: One CAD = USD 0.25 (Participants who invest more than USD 250 will receive a free fitness tracker device.)
  • Payment Method: Ethereum
  • Jurisdiction Banned: The United States and South Korea

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 7 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. Full disclosure, she's invested in bitcoin.




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ICO Analysis: Layer Protocol (LRX)

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With the sharing economy industry poised to soon surpass $40 billion in revenues, the profit potential is massive. Companies such as Airbnb, Uber, and Zipcar depend on user ratings and reviews to give potential customers insight into assets or services before they commit to using them. The issue with the current reputation management system is that it is exclusive to each company and not shared. This allows users with bad reviews to go from one company to another.

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Layer Protocol will solve this issue and tap into this enormous industry by allowing companies to share user reputation history while maintaining security utilizing the blockchain. Layer Protocol is a borderless reputation and incentive system designed to unify the sharing economy companies around the world. Layer Protocol will help establish decentralized reputations that can move freely from sharing platform to sharing platform.

Token

LRX is an ERC20 token that will provide economic incentives for scalable computation of reputation scores through master nodes, and drives community governance. Companies using Layer are also incentivized to use LRX for rewards and accept LRX for payments. Layer Protocol has a partnership with Spin, North America’s leading electric personal mobility company, which will give their blockchain protocol and LRX use from the onset. Spin has over 70 markets in the U.S., with thousands of scooters and bikes on the street, and has been heavily featured on The New York Times, CNN, Bloomberg, and The Washington Post. As Layer’s first partner, Spin will use Layer to power their reputation system, and accept the LRX token as payment for rentals, in addition to fiat.

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There will be a total supply of 1 billion LRX tokens with 400 million available for purchase during the token sale. The token price is 1 LRX = $0.0375 USD with a hard cap of $15,000,000 USD. Team tokens will be vested for a 2-year period.

Team

The Layer Protocol team appears solid bringing leadership and experience from companies such as Y Combinator, Lyft, Samsung, Fitbit, and Stanford.

Team member Euwyn Poon is an entrepreneur, lawyer and software engineer who has been involved in the blockchain industry for five years. In 2014, he co-founded Delta, one of the first projects to offer interest-bearing bitcoin accounts, which was backed by Y Combinator, Initialized Capital, and Winklevoss Capital. He graduated from Cornell and has spoken at CoinSummit London and Inside Bitcoins and has been featured on Bloomberg, Wall Street Journal, New York Times, Forbes, Vice, CNBC and Fox Business Network.

Advisers include:

  • David Chen: Former Partner at Lightspeed
  • Kenzi Wang: General Partner at AU21, a blockchain fund
  • Dmitry Grishin: Co-founder of Grishin Robotics, Mail.ru (DST), one of Russia’s largest internet companies
  • Peter Szeli: Partner at Skyline Capital Group
  • Michael Ma: General Partner at Liquid 2 Ventures
  • Gee Chuang: Co-founder of Ink Protocoland Listia
  • Josh Fraser: Co-founder of Origin Protocol
  • Matthew Liu: Co-founder of Origin Protocol
  • Firoz Khan: Founder of Decentralised Chain
  • Chandler Guo: Blockchain investor (ETH, NEO, Qtum, Binance, Huobi, Gate.io)

Verdict

Layer Protocol will provide economic incentives for scalable computation of reputation scores, which will encourage adoption of the protocol and drive community governance. As well as a decentralized reputation system for the global sharing economy, Layer Protocol aims to be a decentralized credit scoring agency which will help accelerate the growth of the sharing economy. If mass adoption and implementation occur, the future looks bright for Layer Protocol.

Risks

  • Spin has committed to adopting Layer Protocol as its de facto reputation, rewards, and payment system. There is an internal prototype that’s being tested with Spin, but it’s not open sourced or on the testnet yet. -2
  • As with all industries that can benefit from blockchain technology, there will be competitors to Layer Protocol, such as Reputoken and others are sure to follow. However, Layer Protocol does have a leg up on the competition with their partnership with Spin. -1

Growth Potential

  • Having partnerships clearly increases the chance of success for an ICO. As well as having Spin set to use Layer Protocol, the company has also partnered with other blockchain players, including Origin Protocol, Insights Network, and Quantstamp. +4
  • The team members and advisers bring the necessary experience to achieve the project’s goals. The team is also showing commitment to the success of the project by having a 2-year vesting period. +3.5
  • Savvy investors searching for projects that include the option to own masternodes will be pleased to learn that masternodes will be available with LRX. +2.5

Disposition

2018 is an exciting time for blockchain technology. So much innovation is happening with new ICOs launching on a daily basis. Many of these ICOs have nothing more than a whitepaper and are created without solid use cases. Spin has committed to using Layer Protocol which grants a use case from day one. As more sharing economy companies come onboard, Layer Protocol has the potential to be one of the ICO success stories in 2018. Layer Protocol receives a 7 out of 10 rating.

Investment Details

  • Token Symbol: LRX
  • Platform: Ethereum
  • Token Price: 1 LRX = 0.0375 USD
  • Token Supply: 1,000,000,000 LRX
  • Available for Purchase: 400,000,000 LRX
  • Hard Cap: $15,000,000 USD
  • Pre-Sale: On-Going
  • Main Sale: TBA
  • Payments Accepted: ETH

For more information regarding Layer Protocol:

Website: layerprotocol.com
Telegram: t.me/layerprotocol

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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