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ICO Analysis: Bankera

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Pretty much every week now, a new startup comes out wanting to merge the traditional world of finance with blockchain. Usually, it’s to decentralize that area of business. Bankera flips that; they want to centralize crypto by building it a bank.

Straight from the whitepaper:

“We are focused on building a bank for the blockchain era, which eventually will become a one-stop store for all financial services, in the same way, traditional bricks and mortar banks are now.”

Bankera is an operational fork of SpectroCoin, the crypto exchange, e-wallet, payment processor, and debit card provider. They claim to have 440,000 clients and have issued 64,000 cards. The plan is for SpectroCoin to provide wallet and exchange services, while Bankera focuses on becoming an efficient payment and banking solution.

Based in Lithuania, Bankera aims to integrate into the EEU financial network to become the bridge from traditional banking to crypto. In order to do that they need three things: capital, licensing, and technology.

Capital: They no doubt are getting that. They need large amounts because banks need to have huge stores of money in order to ration out large enough loans in order to thrive.

Licensing: They do not have any licenses. Recent regulations reduced SpectroCoin’s legality to only the European Economic Area (EEU). Now with Bankera, they are trying to build a full-fledged crypto bank, which seems almost impossible. They cannot share any info about potential jurisdictions, and they state in the whitepaper they will not have a banking license until 2019.

Technology: They say they have an MVP. I think the MVP is the mobile wallet that you have to sign up for to download. There is no way to secure a mobile wallet though. This isn’t special in any way.

The Token

The Bankers token (BKR) allows holders to pay for services and products of at a discount, as well as entitles holders to 20% of net transaction fees paid by Bankera and SpectroCoin customers every week. Basically, the purpose of the token is to receive 20% dividends on a weekly basis.

The presale ended in September, and the raise broke the all-time record for most money acumulated pre-ICO with over $29 million accounted for. They sold over 2 billion tokens at $0.01 per unit.

The ICO sale starts Nov 27th https://bankera.com/

Allocation: 40% of the tokens will go to ICO participants, 25% to the team/managers, and 5% to advisors. The remaining 30% will be sold in a “secondary coin offering (SCO)” later in the future.

If you contribute more than 1,000 euro to the ICO, you will be eligible for an IBAN account, and a Bankera card. However, many jurisdictions are currently banned, including the United States.

The third ICO, or “secondary coin offering,” is ridiculous. They give a reason as to why they need to raise so much money:

“Operating a bank is different from many other businesses because capital is not only required to fund growth and trade cycles but also for regulatory requirements. In the financial service sector, this regulation is in place to ensure banks have minimal risk of financial distress during economic downturns when there is pressure on the deposit base (more withdrawals than deposits). Therefore, most of the capital raised will be put towards satisfying the capital adequacy requirement ratios that are needed for obtaining banking licenses in new jurisdictions

For example, if the ICO was to raise 100M EUR, which on the surface looks like a substantial amount, because of capital adequacy requirements Bankera could only lend out 500M EUR, which is considerably lower than an average local bank would have in lending capacity. It would correspond to 2,000 loans for an average loan amount of 250,000 EUR.”

The Team

The Bankera team is 50 deep, and are the same as the SpectroCoin team (est.2014). Their top three guys (Vytautas Karalevicius, Mantas Mockevičius , and Justas Dobiliauskas) have been together for years. It’s not hard to find plenty of complaints on these three guys and SpectroCoin. With a project as hyped as this one, a little bad press is to be expected, but this is off the charts (serious allegations of swindling). I don’t agree with a lot of this, but it’s a must read if you are thinking about getting into this ICO

The best part of Bankera is the list of advisors. There are three strong players involved, including Lon Wong, Antanas Gupta and Eva Kaili.

It’s almost certain that Lon Wong is the reason this presale was so huge. The crypto community absolutely loves NEM.  Here’s whats funny about this, though. Lon is president of the NEM.io Foundation, not the actual project:

“The NEM.io Foundation is incorporated in Singapore as a company limited by guarantee. The sole purpose of the Foundation is to introduce, educate, and promote the use of the NEM blockchain technology platform on an international scale to all industries and institutions.”

When asked for evidence of an actual partnership with NEM, Bankera could not produce.

Antanas Guoga aka “Tony G” is a big-time player. Deep research shows Tony may be the reason Bankera was able to sign Lon on as an advisor. He wine/dined him…

Verdict

Despite having no new product, and an extremely vague whitepaper, billions of tokens were already sold and Bankera broke the record for being the highest ever pre-ICO collecting $29 million. Now they want to raise hundreds of millions more. Depending on what they sell in the ICO, there will be over 7 billion BKR in circulation. At $0.02 cents per token right out the gate, it has zero room for early growth. And with so many tokens being sold for .01 months ago, it will almost surely dump.

Risks

  • Red flags everywhere.
  • Regulation: To be a real financial institution you need to acquire several different strict licenses. Bankera has yet to acquire any banking licenses for accepting deposits and offering investment products. They make it clear that they won’t acquire these until 2019.
  • There are several horrible reviews on SpectroCoin, including many allegations of theft. Even if not true, just the allegations may be enough to cause dumps.
  • The competition is already stiff, and we are just getting started. Until 2019 (when they hopefully get a banking license), Bankera will basically be just a banking card that right now can only be used in the European Economic Area (EEU). There are several banking cards already on the market which are better than SpectroCard.

Growth Potential

  • Many use cases. Traditional banks are inflexible. According to the whitepaper, most of the technology required for successful operations for Bankera is already developed and will be ready for testing as a minimum viable product prior to the ICO. The core elements of Bankera’s current technology include modules for SWIFT messaging, SEPA payments, payment cards integration, bank’s ledger, Bitcoin, Ethereum, DASH, NEM modules, fraud analytics and more.
    However, to maintain a competitive edge in a rapidly developing technological market, Bankera will constantly be improving existing infrastructure and developing cutting-edge solutions for the upcoming blockchain era.
  • (Again, from their whitepaper): After the ICO, Bankera will acquire banking licenses within the EU, becoming an issuing bank for payment cards. After that, they will obtain licenses in other key jurisdictions, such as the UK, Singapore, and Japan. Sometime in the future, Bankera plans to offer a variety of investment solutions for clients and businesses. Low-cost ETF funds will be offered, and later they will add trading, advisory, brokerage, custody, wealth management and other services. Most of these solutions will be “developed in-house based on using the most advanced artificial intelligence (AI) technologies.”
  • Everyone loves dividends. Bankera has been, and will be, paying 20% to token holders on a weekly basis. However, right now this is peanuts, it will be less than 2% annual ROI
  • As you can see from this chart found in the whitepaper, Bankera often makes outrageous claims like they invented the question mark.

Verdict

This is not a quality investment. It could be in a couple years if they acquire all the licenses. If you are excited about its long-term potential, then wait for the dump to load up your bag. (3.5/10)

Details

for all the ICO specifics, and to sign up for whitelist https://bankera.com/

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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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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ICO

ICO Analysis: Brain Space

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As we spend more and more time on the Internet, we become more “digital” and unsurprisingly, our everyday practices keep changing. Yet, change isn’t always so simple, especially when it comes down to intellectual property. Constantly using the Internet and creating new, original content whose rights we are entitled to, creates controversies as the intellectual property market faces several crucial problems such as in the following:

  • It is hard to establish connections between businesses and intellectual property owners.
  • There is no high-quality sustainable system dedicated to intellectual property.

But no more says the Brain Space team whose primary goals are to create an infrastructure to solve problems in the industry and to provide frictionless access for authors to the international stage. The latter is especially crucial for the market and should be underlined because if it is hard, inaccessible and inconvenient for an author to register and record his or her products, a healthy market’s occurrence is hardly conceivable.

Yet this is proven to be hard in the actual intellectual properties market as “a huge increase in capitalization, the issue of infringement of the author’s rights and the misuse of someone else’s intellectual property is acute”. The author has every reason and right to demand that his or her rights are protected and his or her products are used in accordance with legal frameworks. This brings the need for a platform where copyrights, patents or other intellectual properties are registered and protected rightfully.

Creating a safe and fast platform to store all this data is not an easy task obviously, yet Brain Space has proven how serious they are by building their own data center for this purpose to support the network of nodes. It is planned to have a capacity of 5 Petabytes (5,000 Terabytes or 5,000,000 Gigabytes), 3,000 KW of energy and 500 server racks each with a 40 Gbit per second Internet connection.

Token

IMP tokens are used as universal payment tools in the platform. The private-sale price per IMT token is $0.01, the pre-sale price $0.03 and the ICO price is $0.08. As any ICO investors will have to pay eight times of private sale contributors for the same number of tokens, token metrics do not seem favorable for him or her. Any crypto-investor who has taken a likening in the project might be better off if he or she waits until the token hits the market where probably he or she could buy it cheaper than the ICO price.

The initial total supply of IMP is 2,700,000,000 tokens with the following token distribution:

  1. 10% private sale
  2. 26% token sale
  3. 5% bounty, bonus, marketing
  4. 2% further attraction in the project
  5. 17% pre-sale
  6. 15% team
  7. 25% maintaining the platform project

The team is planning to use the token sale proceeds as follows.

  1. 28% data center
  2. 1% ICO expenses
  3. 15% listing, marketing, and business development
  4. 7% team
  5. 2% attraction of users
  6. 2% legal and financial services
  7. 8% expansion, operations
  8. 2% legal status and licenses
  9. 15% backup
  10. 5% technical development
  11. 14% specialists
  12. 1% community events

Team

Ivan Shikhalev: Shikhalev was a software engineer at Tenzor Company.

Denis Dimitriev: Dimitriev has worked as a financial analyst at TeleTrade Russia.

Verdict

Below is a breakdown of the risks and growth potential of Brain Space.

Risks

  • As the ICO price is eight times of the private sale price, any ICO investor will have to pay eight times more than a private sale contributor for the same number of IMP tokens which does not sound like a healthy investment at all. It might be reasonable to wait until the token hits the market and hope it opens at a lower price if you are interested in the project. (-2)

Growth Potential

  • The team is planning to have its own data center, which means that the team is aiming to provide sufficient speed and security for the platform in addition to any other nodes run by others. (+2)
  • Blockchains’ immutable permanent nature is a perfect fit for intellectual property platforms. (+2)

Disposition

The intellectual rights market suffers from several problems such as the absence of a high-quality sustainable platform, the infringement of authors’ rights and the misuse of the authors’ rights as well as products. Blockchain technology, thanks to its immutable, permanent nature, has a high chance to solve this problem and Brain Space is such a platform aiming at these issues. Although one might be worried about the platform’s security, speed, and scalability, the team is planning to build its own high-capacity data center to support network needs. Still, from an ICO investor’s perspective, we cannot say token metrics are favorable as the private sale contributors had the chance to buy IMP tokens with a price of $0.01 while the ICO price is $0.08. As of the time of writing, there are still two months until the ICO, so the ICO investor should strongly weigh the project’s pros and cons before making any investment and likely consider buying tokens after they hit the market. Brain Space receives a 2/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: IMP
  • Platform: Ethereum
  • Crowdsale: January 14th
  • Minimum Investment: $100
  • Price: $0.08
  • Hard Cap: $73,630,000
  • Payments Accepted: Bitcoin, Ethereum
  • Restricted from Participating: United States, China, and North Korea

For More Information

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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ICO

ICO Analysis: Aqua Intelligence

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The Facebook-Cambridge Analytica data scandal has revealed that the world’s biggest social network’s millions of users’ personal data were harvested for political reasons. This was not the first scandal revealing user data misused for a corporation’s or a person’s gains. Big data companies are known to track Internet users’ data as closely as possible in order to sell the data later for monetary gain.

However, the actual owner of the data, the end user, rarely benefits from this data monetization. Aqua Intelligence is a platform enabling its users to monetize their data in the form of tokens. The team aims to collect data from their already existing products and other sources in order to build a profile system at an international scale.

As a high amount of data is expected to flow into the platform, human analysis alone will not be sufficient to process it all. The team is looking to enhance the system with artificial intelligence and machine learning, to further improve sales, retention, conversion and customer satisfaction. If the team is able to meet their goals, Aqua Intelligence has a chance to take a shot at one of the world’s biggest industries.

Initially focusing on the hospitality industry where the team is the most experienced, Aqua Intelligence will create a data solution to help businesses improve their revenues with personalized offerings and improved operational efficiency. In return, the platform users will be rewarded with loyalty benefits in return for validating their personal data.

Aqua Intelligence is designed to have three main components.

  • Aqua Intelligence is the core component where the data is processed.
  • Platform users use Aqua Mobile Application to earn tokens in return for providing and validating data and completing other tasks like surveys and reviews. The application enables them to manage their loyalty points as well.
  • It is all thanks to Aqua Revenue Management System that businesses are able to improve their sales numbers and efficiency. By using this component, they will be able to provide personalized offers and special group sales.

Token

AQX tokens will be used to distribute rewards and loyalty points in the Aqua Intelligence platform. The ICO investor should note that until October 6th a bonus of 100% was offered to investors. As of the time of writing, 50% bonus is available for investors until November 5th. Any person considering to invest in Aqua Intelligence should better hurry and make his or her decision before the sale moves to the next stage where only 20% will be offered.

The initial total supply of AQX is 500,000,000 tokens with the following token distribution:

  1. 5% bounties and airdrops
  2. 20% team
  3. 30% platform reserve
  4. 45% AQUA token sale

The team is planning to use the token sale proceeds as follows.

  1. 10% legal
  2. 10% operational expenses
  3. 20% marketing
  4. 20% research & editorial
  5. 40% platform development

Team

CEO Anthony Gelman: Gelman has worked as a housekeeping training manager at Wynn Las Vegas and as a housekeeping manager at The Cosmopolitan of Las Vegas.

COO Leon Pashnick: Pashnick was the assistant manager of housekeeping at Wynn Las Vegas.

Okechi Onyeje: Onyeje is a software engineer at Vistaprint.

Advisors

Rick Hilton: Hilton is the chairman at Hilton & Hyland Real Estate, a real estate company based in Beverly Hills, since 1994.

Chuck Goldman: Goldman, a mentor at MassChallenge, has worked as a senior director at Apple for four years.

Tony Lau: Lau was the vice president of finance at Hughes Network Systems and Lockheed Martin/Astrolink International.

David Norton: Norton is the chairman and chief marketing officer at GALE partners, a marketing and advertising company and a board member at Home Care Assistance. He also has held the chief marketing officer position at Caesars Entertainment Corporation for twelve years and worked as a vice president at Bank of America.

Arthur Iinuma: Iinuma has worked for Citi, Morgan Stanley and UBS Wealth Management.

Verdict

Below is a breakdown of the risks and growth potential of Aqua Intelligence.

Risks

  • The AQX token does not have any staking or profit distribution mechanism and has none to very little use case for people who will not use the token except for speculative trading. (-2)
  • Early stage investors get a 100% bonus which should discourage later investors from investing in the project. (-1)

Growth Potential

  • Great advisors with experience at well-known firms, with some of those being in the hospitality industry (the project’s initial focus). (+3)
  • The team is planning to initially focus on the hospitality market, where they are experienced. (+3)

Disposition

Whether one likes or not, personal data is money in this day and age. Aqua Intelligence gives people a chance to monetize their personal data in return for loyalty points and rewards in different forms. The project is backed by great advisors and the team’s initial focus will be the hospitality market where they have a lot of experience. Aqua Intelligence receives a 3/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: AQX
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: 0.05 ETH
  • Price: $0.18
  • Hard Cap: $30,000,000
  • Payments Accepted: ETH
  • Restricted from Participating: Unspecified

For More Information

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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ICO

ICO Analysis: BX.BET

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BX.BET is offering a decentralized blockchain-based betting exchange and prediction market ecosystem to tackle the fragmented market of betting.

BX aims to utilize the full power of blockchain and smart contracts to give users full control over their funds and betting transactions, with full transparency and total freedom to bet as they please. BX users will be able to take over the role of the bookmaker and create their own markets, and place/offer bets with self-determined odds.

The BX token will be a key component to enable all betting transactions. Users will be able to trade bets in three different markets: sports/esports, prediction markets, and financial markets.

The BX whitepaper also claims the fleshing out of interesting features like Oracles to create predictive markets, which is a pretty cool concept.

Token

A notable component of this pre-sale is the bonus structure, which incentivizes investors who contribute more than $15,000 with a 30% discount.

Team

The BX team carries a cumulative nine decades of experience in the betting industries and seems poised to handle the execution of the project well.

Verdict

Below is a rundown of the risks and opportunities associated with BX token.

Risks

  • Competition: A quick Google search shows 7 projects offering a decentralized betting program, and that’s just the first page. Yes, creating a decentralized betting platform is a good idea, so good an idea that dozens of teams are working hard to execute it. One of the more notable competitors is Augur, hit a market cap of over $1B (currently at ~$140M), made a big splash and is generally assumed to have first mover advantage in the space. However, to look at BX’s competition within the crypto realm is doing it an injustice, especially when you look at how fragmented the betting landscape has been. -3
  • Regulatory risks: A huge reason the products and companies in the betting sector have lagged behind is regulation is incredibly tricky, especially for a project looking to create an international betting platform. The BX team has to deal with dozens and potentially hundreds of different authorities. It’s decentralized in function, yes, but not decentralized enough in company structure to avoid any regulatory upheavals. -2
  • Steep team/advisor token ownership:Only 60% of the tokens will be sold to the public. It’s worth noting that of the token sale, 10% of the tokens go to the team,15% go to a “company reserve”, and 10% go to advisors. So, of the $20m hard cap (if reached), the team gets $2M, $3M goes to the company reserve, and $2M goes to advisors. That’s about  $222,222 average per the 9 team members (locked for 2 years), $666,666 average per the 3 advisors, and $3,000,000 in what I’m assuming is a rainy day fund. This doesn’t necessarily signal foul play, but as an investor, I would be slightly concerned that 35% of all total tokens stay with the company in some capacity, either as compensation or as a reserve. -2

Growth Potential:

  • The current betting landscape is a disorganized mess: If you want to bet on an NFL game, for example, you’d have to either contact a bookie to place the bet for you, or have a custom log-in on whatever site that bookie uses (or just bet someone next to you, but that’s not always convenient). If BX.BET can clean up this fragmented ecosystem and provide users a central place to bet freely without the obstacles, I could see it picking up a ton of users from scattered betting sites. +3
  • Removal of the third party bookmaker intermediary: Value tends to be created for the users of any decentralized platform that removes third party intermediaries, such as bookies. This means better betting terms and odds, leading to higher customer satisfaction. +3
  • Size of the industry: The BX.BET promotional materials place the betting industry at $60 billion and an annual growth rate of 10%. +2
  • Discounts are appealing: The pre-sale hasn’t started yet, but those wishing to invest anywhere between $300 to $15,000 can see between 15% to 30%. +4
  • Capable team:  The BX team consists of a group of people who have deep experience in this industry. In a niche with such a high rate of competition, the team is going to make the difference. +1

Disposition

We arrive at a +6 or BX.BET. The project seems very well put together and the app has a clean interface, but the level of competition, regulatory risks, and team compensation give me hesitations.

Investment Details

  • Symbol: BX
  • Platform: Ethereum
  • ICO Date: Oct. 15, 2018
  • Minimum Investment: $100 USD
  • Token Price: 1 BX = $0.19 usd
  • Payments Accepted: BTC, ETH, fiat
  • Country: Malta

The token sale starts on October 15th. To find more information on the project, check out the BX.BET website and BX.BET whitepaper.

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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4.6 stars on average, based on 18 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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