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ICO Analysis: BitClave

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A brief survey of the companies making the brunt of the bucks online yields Google as a primary result, and other search and data companies not far behind them – Facebook knows at least as much about a given person as does Google. “The people are the product,” goes the adage, and it’s less scary than it makes simple economic sense. Without some product to sell, companies would have no reason to offer such advanced and expensive services. In the ICO rush we’ve seen most industries undergo some form of attempted disruption, and now with the onset of BitClave we’re seeing perhaps a new zenith in terms of ambition: at heart, what they are trying to do is disrupt search, perhaps the pursuit of only the maddest technical idealist.

The Shape of the Pie in the Sky

There are two main things we need keep in mind when considering the mission being presented here.

The first is that the search in and of itself is a nascent industry, and really we’re only seeing the first iteration of its established modes. The era which directly preceded this one in the 90s was marked by dozens of choices, the first of which were maintained by hand, of databases to hunt for information. In reality, access to information was far more democratized under such circumstances, but we’ll not delve too deeply into the cultural dangers of centralized information access. The era of Google has been marked by a single, growing dominant search engine, more automated than not, which knows more about the user than it does at least a few of the user’s queries. In fact, one could argue that 9 times out of 10 the search engine has more information about the user, by nature of using the search engine and its other resources, than it ever does provide about an individual topic to the user. From a fairness perspective, this seems like a bad deal: people act as data crops for a global, faceless data combine and truly do not even get the carrot they signed up for.

The second thing to keep in mind is that there is a great cultural awareness of data privacy, but much like climate change or world hunger, average consumers do not currently have adequate choices which would protect their privacy. The cost of entry is your privacy, people have grown to accept, but they’re more aware of it than ever.

Studies have yielded conflicting results on the subject of how the current and next generation of decision makers actually view their data privacy. In one, we learned that millenials are largely indifferent. In another, they do care. Both situations only distract from the point the author is making, in any case: this generation is aware that their data is not private. Awareness is not enough. Someone could be aware that they are sitting on an oil well, but that awareness will not translate to action unless they are also aware of the value of the oil within it. This is the only type of catalyst that can lead to success for BitClave, which will allow users to monetize their own data.

Let’s see what the prospects of that particular industry are, that of voluntarily forfeiting private information. Short story: it’s growing, just like everything else online, exponentially. According to a Quora answer from someone who appears to know (Aaron Abram, founder of a survey company), online survey companies are extracting more and more from the economy, paying fractional amounts for people to answer long questionnaires.

The biggest fish in this industry makes $200M+ annually with 50% profit margins. And all the top venture capital firms are throwing money to the tune of $50M to $100M per company. With so much chum in the water, there is a feeding frenzy.

While the data that Google collects and the data that survey companies collect are two very different types of data, the point is that personal information is a huge and growing opportunity. So what does BitClave have to do with all this? Well, as you’ve probably guessed, they want to decentralize and monetize consumer search data and marketing information. At heart, their goal is to allow companies to directly market to consumers who are open to it, but at the tail end of their mission is a sizable disruption in the way people understand search.

BitClave proposes a system in which the intermediaries are eliminated and interactions are facilitated by the network itself. Instead of paying any “middlemen”, companies automatically make personalized offers directly to consumers who have opted in for the service.

The “intermediaries” referred to are the various advertising networks, including AdWords, which separate marketers from consumers. In the proposed system, companies will be able to find anyone who owns a dog, for instance, who is in the system, and offer them a product or service in the form of advertising. If the question has become why anyone would sign up for such a directory, then hopefully your familiarity with tokenization will help you understand: people will be motivated by money to be part of the network.

Incentivized Search Also Not New

What we’re talking about is not Bing Rewards or any of the myriad of search bars that share the advertising revenue with the user. Although at heart that is what we’re going to see happening in BitClave, we’re talking about something much more advanced. The Bing Rewards system, which allows people to earn “points” on their search data toward rewards, still uses the old model of throwing an ad up on a wall and hoping that passers by, who may or may not have a passing interest in the product, will take interest in it.

With BitClave we’re talking about something much more novel and innovative: a way to ensure that said ad only appears to those with a stated interest in it. This frees up capital to sweeten the products on offer, such as samples and trial offers, because when these programs are properly targeted they are scientifically proven to yield more sales.

The Future Is Unwritten

For the purpose of this article, both the author and the reader essentially need to suspend our understanding of the machinations and long tentacles of Google, Facebook, Baidu, and the rest of the aging pioneers who currently own the web for most intents and purposes. We must accept that disruption itself is the nature of technology, and so while it may be hard for us to imagine these companies losing market share in a significant way, we have to accept that it is both possible and reasonably achievable if the correct circumstances have arisen. As BitClave themselves put it:

Markets that stifle innovation are always susceptible to technology-based disruption.

The BitClave Network

BitClave is much broader in scope than mere search, but its first iteration will be directly associated with user activated search. The BitClave software itself is a blockchain layer that records user activities, in a way that the user assents to. The system used for this is called BASE, BitClave Activity Search Ecosystem. This is primarily for the advertisers and data aggregation outfits to interface with, so that they can find users who fit the profile they are looking for. Users who interact with the app are then presented with offers from advertisers who are looking for users that match their profile.

All of this will be operated using the CAT token, not to be confused with the BlockCAT token, which we will discuss a bit more in a moment.

BitClave does not mention the creation of their own search engine, which is a definite plus for the sanity of this project. Utilizing existing search engines, or allowing the user to decide the search engine, is a much smarter approach, removing it from the crosshairs of those firms themselves, but also putting it in a position that other networks can exactly mirror its functions and compete with it on grounds that are not based on their superiority, but instead simple virility and reach of existing ad contracts.

In short, BitClave’s first iteration places a shell over existing user search activities and gives advertisers a direct line to these users. The types of data that can be collected and stored in BASE are many, including physical information like building access, wifi connections, GPS information, and more. All of this data can be useful to advertisers trying to sell products, especially regional products. Through the use of cryptography, actual user personal information can be selectively protected and shared by the user, and the advertisers nor BitClave itself do not need actual personal details (name or e-mail address, for instance) to verify whether an offer actually converted or not.

For advertisers, this is what will be most attractive about BitClave: they are only paying for interactions which actually yield money, a radical and novel approach to advertising that couldn’t be successful in a centralized iteration. This is to say: exactly the type of disruption that blockchain and decentralization are meant to induce.

BitClave Token & Value

The CAT name for the BitClave token is unfortunate because there will be naming confusion between exchanges. In the case of BitClave, CAT stands for Consumer Activity Token. (BlockCat already calls its token the CAT, though.) Nevertheless, the value of the token as a member of the whole network needs to be established.

The high view is that advertisers will use the token to pay for listing on the platform and access to the BASE (along with later products BitClave will develop on the ecosystem) and customers will earn these tokens for their participation.

In design, then, the economics of this system are such that one party will continually be dumping onto the other. BitClave are aware that the system will take some time to develop value for both users and advertisers, and addresses this by saying:

While the true value of the ecosystem will take time to attain, reaching a sufficient number of retail contributors and user participants, we believe there is sufficient value for early adopters of the retail platform. Initial users can start to earn CATs by creating profile details, contributing preference and interest data, and posting recommendations for retailers or providers who have not yet joined the system (potentially earning tokens and reputation from other users in the process) similar to a recommendation or referral system. From the outset, the platform will support peer-to-peer contracts which will provide value in bootstrapping the retail marketplace.

Distribution

There will be 2 billion CAT tokens issued during the token generation event. For the purpose of the token, to be issued out as a token of reward by many different advertisers, we can see this distribution as being comfortably suited. Where Kik’s Kin token decided 1 trillion was an appropriate answer, BitClave apparently decided on an amount that humans can get their mind around.

It’s fun to play with numbers. We could make the following calculations based on some data that’s not available, for instance: if the market is 750 billion in 2025 and BitClave has just 1% of that in terms of advertising dollars, the total of the BitClave network’s value would be around 7.5 billion, and the cost of each token would justifiably be over a few dollars each. Let’s say this was a hugely positive outlook and say they only have acquired .1% of the network in that time – the token is still carrying value, so long as the network provides value to advertisers and advertisers are using it. Thus we find the true Achilles’ heel and metric to judge BitClave by: their speed of adoption and expansion and gathering of significant clients for the advertising services is crucial.

BitClave Team

BitClave have cleverly positioned themselves in Mountain View, California, the home of Google’s main campus. This puts them at the hub of the world’s search technology engineers, among a lot of other talent. Therefore we can safely say that if BitClave funds, CTO Patrick Tague’s odds of finding the engineers to get this thing on the road are pretty high. According to his LinkedIn profile, much of Tague’s professional experience has been as faculty at various educational institutions.

CEO Alex Bessonov formerly worked as a mentor for Tim Draper’s Draper University and has otherwise worked with a number of start-up accelerators. His real experience comes from his time as a software engineer working with eBay, Microsoft, and Informatica. Informatica was a pioneer in data analytics. Of his experience there, Bessonov claims:

Responsible for developing client/server data mining applications. Led the team to design a new generation of Informatica’s client suite.

Not hard to draw a straight line to today, where he is heading up a company which seeks to disrupt the very data mining revolution he took part in starting.

The Verdict

We are bullish on all plays which will disrupt digital advertising. We believe the Basic Attention Token is a few partnerships away from meteoric rises and that adChain will find a simultaneous place to operate from. Of adChain, we concluded that the verification of good providers is a valid play in the advertising space. We feel that BitClave takes this idea to the next level – giving businesses direct access to customers, and charging them when they succeed in making a sale. We figure this will probably go further and represents a more novel approach to the problems at hand.

Risk

  • Team are virtually unknown to us, their connections could be lacking, this could slow adoption even further than the next point. -3
  • Adoption will be slow. The firm will spend a lot of money getting both advertisers and customers on board. They may not raise enough to achieve the goal. -1
  • Will face attrition from other outfits which offer nearly identical product. -0.5

Growth Potential

  • Will be very attractive to the current and future generations, who are aware of their data privacy and will gradually become more aware of its monetary value. +4
  • Initially seeks to co-exist with other advertising solutions, instead of relying on any external activities to really initiate its existence. +3.25
  • The noted attrition in the Risk category is less when you consider that advertisers will only pay for what they actually profit from, which will incentivize them to keep CATs for the purpose of advertising on the network. That said, actual token value will rise slower the less that people use the product, and fall off whenever people move to a different product, so the attrition should not be understated either. +3

Disposition

Numerically, our rating of BitClave winds up being 5.75. AdToken received a 6.25, and they are up for a review soon. A rating of 5.75 should be used mostly in determining whether or not you’re going to invest initially, not the long-term success or profitability of the token. Short-term profitability is there: demand for the token will be immediately represented by firms which want to be on the cutting edge of marketing. Long-term profitability is questionable, since we’re sure that alternatives already exist and will continue to emerge, making a network effect difficult for BitClave to establish. As a general investment vehicle, it seems this one could yield some short-term profits, but has a lot of means testing to do before we can determine whether or not it’s a good long-term vehicle for money.

Investment Details

Details are a bit murky on everything. They’ve opened a pre-sale, which gives you access to a dashboard, which gives us some data on the cost and sales of the CAT tokens:

In the whitepaper, token sale details were marked down to “to be announced.”

Now in the dashboard we see that close to 75 million of the tokens have been sold already, raising around $1.9 million so far in the pre-sale, which is now over. The most recent cost of tokens is 7 cents.

This dashboard situation is a security attack vector. By creating an account there, you put the trust of buying these ICO tokens fully in their hands, and anyone sniffing packets in between, and any security misconfiguration that might lead to convenient problems. We urge the exercise of extreme caution in the establishment of an “ICO funding account” with BitClave or anyone else. A net loss of $0 through purchasing on exchanges later is superior to a net loss of 100% lost thanks to a compromise of the ICO’s accounts system.

The sale will open September 15th. Please manually check the website (https://www.bitclave.com/en/#fundraiser) and social media feeds of the project before sending money anywhere, instead of relying on anything sent to your e-mail inbox.

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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ICO Analysis: BitTorrent Token

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Blockchain company TRON made waves back in June 2018, when it was announced that TRON was acquiring BitTorrent, the company responsible for the development of the immensely popular file-sharing protocol BitTorrent, for $140m.

The BitTorrent protocol is a pioneer in the decentralized networks space and allows for the downloading and uploading of files from/to various hosts rather than a single server.

Perhaps the most popular or well-known use of the protocol is torrenting, which is often used to share copyrighted content like movies and music illegally.

Regardless of how the protocol is used, one can’t deny the popularity of the protocol.

According to BitTorrent (the company), the protocol is used by more than 170 million people every month and is responsible for as much as 40% of the world’s daily Internet traffic.

However, while BitTorrent is immensely popular, the company behind the protocol has struggled to generate revenue.

Thus, the acquisition comes as a break for the struggling company and might prove to be very strategic for TRON, as they gain access to a very large user base and more importantly (in the author’s view), a team of developers that is top of its class when it comes to developing decentralized networks.

Under the new leadership, BitTorrent is launching a token (BTT) to tokenize what is perhaps the world’s biggest, decentralized file sharing protocol.

Token

According to the BTT whitepaper, BTT will incentivize users to offer infrastructure services, such as seeding or hosting files, in return for BTT.

To validate this concept, BitTorrent is launching something called BitTorrent Speed (release date set for Q2 2019), which will enable faster downloads for users who choose to pay file seeders in BTT.

Thus, downloaders (“leechers”) will benefit from faster downloads via prioritized resource allocation, while seeders or hosters will benefit from payment in exchange for providing bandwidth services to the network.

It’s hoped that this will incentivize downloaders (who become seeders when they start to download a file) to keep seeding, even after their download is finished, a problem that has been present since the inception of the BitTorrent protocol.

While BitTorrent Speed is the first initial experiment when it comes to tokenizing the BitTorrent protocol, the team behind BTT envisions more generalized applications of this tokenization model (with potentially more to come):

  1. General decentralized mass distribution of content that might be subject to attack like censorships. With the decentralized and large network effects of the BitTorrent Protocol, not only do content creators not have to worry about hosting their content on one provider, but performance issues will also be of less worry, as the BitTorrent protocol has been proven to be able to handle large amounts of download requests, with organizations like Facebook and Twitter even using the technology to distribute updates to their servers.
  2. Decentralized storage services, where users pay for storage over time
  3. Decentralized proxying services, where users pay to retrieve content by URL (use cases may include content that might be subject to IP-based controls, highly mobile applications, and users with intermittent Internet connectivity, such as mobile users on WiFi, requesting content in chunks vs. in a complete form)

BTT-based transactions will be confirmed via blockchain technology to prevent fraud.

The total supply of BTT will be 990,000,000,000 (990 billion) BTT.

The tokens will be allocated as follows.

  • TRON Foundation (20%)
  • BitTorrent Ecosystem (19.9%)
  • Team (19%)
  • TRON Airdrop, or allocation for holders of Tron’s cryptocurrency (TRX) (10.1%)
  • BitTorrent Airdrop, or allocation for BitTorrent client users for client install and onboarding (10%)
  • Seed investors (9%)
  • Public sale (6%)
  • Partnerships (4%)
  • Private sale (2%)

The public token sale, which starts at 15:00 UTC, January 28th, 2019 is structured as follows.

  • $7.2m USD hard cap (sale finishes when hard cap is reached or at 15:00 UTC, February 3rd, 2019)
  • Individual cap of $20k USD
  • 59.4 billion BTT for sale (6% of total token supply)
  • No vesting or lockup
  • 40% of tokens for sale in BNB, 60% for sale in TRX
  • Tokens distributed within 15 days of token sale conclusion

Team

The team behind BTT is the team behind BitTorrent, which as explained, is a massively popular decentralized file sharing protocol, and the team behind Tron, a highly popular blockchain-based project, whose cryptocurrency TRX, is ranked #9 by market capitalization as of writing (Coinmarketcap).

Verdict

Below is a breakdown of the risks and growth potential of BitTorrent Token (BTT).

Risks

  • Would people actually pay for faster torrent downloads (initial use case for BTT, which will serve as a way to validate or invalidate the notion of tokenizing the BitTorrent protocol)? Torrents are known for enabling free downloading of content like movies and music. If users really wanted to pay for torrents, it’s possible that they would have already migrated to services like streaming via Netflix and Spotify. Moreover, BitTorrent users are not mandated to participate in BitTorrent Speed. (-0.5)
  • There is a lot of legal controversy surrounding the use of BitTorrent – the protocol itself is legal; however, as mentioned, there are many illicit uses of it, such as the sharing of copyrighted content. While it’s unlikely that the team behind BTT would get into any sort of trouble, it’s possible that users might be turned off by negative press or attention about illicit use and resulting legal disputes. (-0.5)
  • The team is highly experienced at building and maintaining decentralized network infrastructure (BitTorrent) and building popular blockchain-based solutions (TRON). However, competitors like Upfiring have already launched beta products, with decent feedback on places like Reddit. (-0.5)
  • Although the BitTorrent and TRON teams have built large-scale decentralized network infrastructure, it will be difficult to build a blockchain that can handle the massive throughput of the BitTorrent network. (-0.5)
  • Initial circulating supply is only 9% but will near 80% within 3.5 years, which means that the BTT token will face incredible inflationary pressure (-2)
  • Seed and private investors got BTT at a ~68% bonus (relative to public sale price) and don’t have a lockup (though tokens are vested over a year). (-0.5)
  • No details on lockups and/or vesting for team tokens. (-0.5)

Growth Potential

  • BitTorrent is about as legitimate as they come for proven examples of successful decentralized networks. (+2)
  • The tokenization of BitTorrent’s protocol could prove to be very interesting, and it’s possible that content creators and other individuals and groups that wish to distribute files could migrate to the protocol in order to circumvent the various problems associated with going through more centralized alternatives, such as app stores, music distribution platforms, and more. (+2)
  • If tokenization via BTT takes off due to the combination of the already large network effects of BitTorrent and the validation of the BTT tokenization model, it’s very possible that BTT might be covered in mainstream media outlets, as an example of a cryptocurrency project that has “mainstream adoption”. (+1)
  • The sale will be taking place on Binance’s Launchpad platform for ICOs, which provides BTT with a ready base of potential investors who can invest easily from Binance’s platform. (+1)
  • Although competitors like Upfiring are up and running, the team, as mentioned, has a great track record in building decentralized networks (BitTorrent and TRON). (+2)
  • Say what you want about Justin Sun and TRON, but no one can deny that Justin Sun and TRON are marketing wizards, who are highly capable of building investor interest in blockchain projects. During the bull run of late 2017~early 2018, TRX multiplied in price by over 100 times (as measured in USD), and the TRON community continues to be vibrant. (+2)

Disposition

BitTorrent Token will prove to be an interesting experiment for the future of decentralized technology. The team is combining an already large decentralized network (the BitTorrent protocol) with the idea of tokenization and crypto-economics. However, in terms of investing in the token sale, competitors, current blockchain technology limitations, inflationary pressure, more favorable terms for early investors, opacity regarding team tokens, and general lack of interest in ICOs amidst a bear market make BTT ICO participation a questionable proposition. Nevertheless, the sheer potential of leveraging BitTorrent’s network in a cryptocurrency project as well as the team’s experience in building decentralized networks and marketing make BTT a token to keep an eye on. BitTorrent Token receives a 5/10.

Investment Details

  • Type: TRC10 – Utility
  • Symbol: BTT
  • Platform: TRON
  • Crowdsale: January 28th, 2019 at 15:00 UTC
  • Minimum Investment: Unspecified
  • Price: 1 BTT = .00012 USD (prices in BNB and TRX set on day of token sale)
  • Hard Cap: $7.2m
  • Payments Accepted: TRX, BNB
  • Restricted from Participating: China, USA, Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Myanmar, North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, Venezuela, Yemen, and Zimbabwe

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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 Analysis: Devv

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One of the major issues with blockchain technology is that the underlying platforms are unable to adequately service high amounts of usage without compromising on speed and transaction costs (“the scalability problem”).

In fact, many see this as one of the foremost obstacles for blockchain to overcome in order to achieve widespread adoption and become the basis for a new and decentralized Internet.

Various projects have sprung up and are in the works with the focus of tackling the scalability issue.

Devvio is yet another contender to step into the arena for scalable platforms and has developed a blockchain protocol called Devv that claims to address blockchain’s major issues including scalability as well as fraud, loss, theft, privacy and stability.

While seasoned ICO investors might have heard this pitch one too many times, Devv has processed over 1 million transactions per second (tps) on-chain and is currently benchmarking at over 8 million tps on-chain, the results of which can be seen here. Those would like to delve further into Devv’s technology can check out the Devv whitepaper and Devv Github.

By solving the aforementioned issues of scalability, fraud, loss, theft, privacy and stability, Devvio believes that their cryptocurrency has the potential to really grow into the preferred way for instant value exchange worldwide.

Moreover, similar to platforms, such as Ethereum and EOS, developers can build Dapps on Devv but not be limited by high fees, low transaction throughput, and sub-par security at scale.

Some use cases the Devvio team foresees for Devv include the following:

Financial Services

Using Devv to manage exchange, hedging, payments, and repatriation of funds.

Data

Using Devv to manage sensitive data in a highly secure environment.

Logistics

Track and manage goods as well as reduce traditional insurance and logistics costs.

Token

Devv’s token will be used to enable value and asset exchange similar to other cryptocurrencies and tokens.

Devvio will initially issue ERC-20 tokens to investors before ERC-20 tokens are swapped for native Devv tokens at a 1:1 ratio.

Devv tokens (total supply 500m tokens) will be allocated as follows.

  • 30% token sale (150m tokens)
  • 30% company reserve (150m tokens)
  • 20% partners and acquisitions (100m tokens)
  • 15% founders and partners (75m tokens)
  • 4% advisors (20m tokens)
  • 1% bounties and community (5m tokens)

According to the Devv whitepaper, token sale proceeds will be used in the following manner (assuming the hard cap of $18m is met):

  • 15% technical development
  • 12% Devvio operations
  • 12% business development
  • 18% Intellectual property development, licensing, and enforcement
  • 20% marketing
  • 8% supporting technologies
  • 15% token sale fees

The amount of Devv tokens issued to investors will vary depending on how much is raised during the token offering. For instance, if the hard cap of $18m is met, token purchasers will receive 150m tokens as mentioned.

2% of Founder, Partner, and Advisor tokens will be available upon the Token Generation Event (TGE) and 98% will be vested with a cliff of 1 year at a rate of 1/8th each quarter for 2 years (after the initial 1 year lockup period).

Team

Devvio team members include the following:

CEO Tom Anderson – Anderson was the founder of Novint Technologies, a robotics company which made the first 3d touch device for consumers. Anderson is considered a pioneer in haptic technology (integrating the sense of touch into computers and virtual reality). Novint raised over $30m, licensed game development worth tens of millions of dollars, and more before its patents were sold to Facebook.

Advisors

Tokenmarket – well-known token sale organizer that has helped ICO clients, such as Civic, Storj, and Dent.

More team members and advisors are listed on Devvio’s team page.

Verdict

Below is a breakdown of the risks and growth potential of Devv.

Risks

  • Like many projects – not fully released. First stable release of Devv blockchain is set for Q1/Q2 2019.
  • For a highly ambitious blockchain platform (“solving” scalability, fraud, loss, theft, privacy and stability at the same time), no one on the team has standout experience working on similar projects.
  • Token allocation for token sale could be higher.
  • Though the token sale date hasn’t been specified, interest on social platforms thus far seems relatively low for a project of its scope (e.g. ~2.8k Telegram channel members and ~1k Twitter followers as of writing).

Growth Potential

  • Testnet available and not a complete whitepaper/vaporware project like many ICOs.
  • Team has had business success in other endeavors (e.g. Novint).
  • According to the Devv FAQ (“Do you have any patents”), the team has patented their ideas to build somewhat of a protective moat.
  • Instead of accepting that thefts occur in the blockchain/cryptocurrency space like most other projects, Devv has an optional transaction method (similar to credit card chargebacks) called DevvProtect. Optional DevvProtect wallets guard against common issues like stolen private keys and lack of asset transferal upon events, such as a token holder’s death. These are definitely interesting features that would probably be of interest to businesses, Devv’s intended audience.

Disposition

Although jaded ICO investors are probably tired of hearing about platforms that will solve scalability among other blockchain technology obstacles, Devvio’s Devv blockchain does show promise with its benchmarking of 8 million tps and testnet available for use. This in addition to the team’s business experience, focus on patents, and innovative features like optional transactions make the project one to keep an eye on as long as they can deliver technically and garner adequate community interest once the ICO date is announced. Devv receives a 7/10.

Investment Details

  • Type: ERC20 – Utility then Native
  • Symbol: DEVV
  • Platform: Ethereum then Native
  • Crowdsale: TBA
  • Minimum Investment: Unspecified
  • Price: Unspecified
  • Hard Cap: $18m
  • Payments Accepted: Unspecified, presumably ETH
  • Restricted from Participating: Unspecified

For More Information

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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 Analysis: Fieldcoin

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Fieldcoin is an agribusiness crowdfunding platform that enables anyone to buy, sell, rent, and manage farmland from anywhere in the world. Using IoT, smart contracts, and other agribusiness technology, token holders will form a DAC (Decentralised Autonomous Community) and vote on every aspect of their chosen agribusiness from seed to table.

“Fieldcoin’s mission is to bring the blockchain technology to land property transactions and agricultural crowdfunding projects while creating a stable transaction instrument easing the process of land and agribusiness acquisition.”

Fieldcoin will offer access to LANDS Management Services. Investors will be able to buy/sell/manage physical land of different sizes and budgets at an attractive price compared to the market value.

The company claims to:

  • Brings liquidity to the agricultural industry
  • The token is backed by land.
  • Decentralize the highly centralized agriculture market
  • Track the origin of food products.
  • Manage the way the food is grown (pesticides or organic)

Along with the above highlights, Fieldcoin’s “trade-back token” guarantees an 80% ratio on the value of your token to the assets in the ecosystem and the possibility of claiming your assets in physical property at a certain rate under the market price.

In the Fieldcoin ecosystem, there are 2 levels of ownership: “Off-chain,” which is to comply with national regulations and “On-chain,” which is recorded and transacted on the blockchain.

  • Off-chain: Fieldcoin Ltd or a third party company DAO (decentralized autonomous organization) owns the property titles recorded in the national land registry. The token holder owns a share of the company representing the specific land acquired on the platform.
  • On-chain: Fieldcoin Ltd creates a unique token with a unique number representing a specific property called LANDS (ERC721). The LANDS token represents the ownership of the property and can be exchanged on the Fieldcoin platform using the Blockchain.

The FCO will start April 2nd, 2019.

FCO means Field Coin Offering. It’s like any ICO, users buy (FLC) ERC20 Utility tokens which are used to acquire non-fungible tokens (ERC721), which represent a particular agricultural property. “The acquisition of NFT tokens during the ICO makes the Field Coin Offering unique and offers a strong advantage to investors that are able to test the platform and own tangible assets during the Coin Offering.”

Token

FLC is an ERC20-based utility token distributed during the FCO. The token is used as a currency to buy land, services and crowdfund agricultural projects on the platform.

LANDS is an ERC721-based token received after buying a specific land property through our platform, representing land ownership and storing the data of your property. LANDS are also available for purchase during the FCO.

According to the company, trade-back token is “Token holders will buy land on Fieldcoin’s platform and pay the full market price displayed on the website. They will be credited with a coupon to buy land for later purchases. The value of the voucher corresponds to the difference between the price drop of the token under the 80% threshold and the actual value of assets in Fieldcoin’s Ecosystem. The coupon can be applied to available properties sold by Fieldcoin Ltd on the platform.”

Distribution:

  • Private Sale 2%
  • FCO 60%
  • Token Bonuses 17%
  • Reserves 10%
  • Team 9%
  • Bounty 2%

Allocation of funds:

  • 60% Purchase of Physical Land
  • 15% Agribusiness Development
  • 10% IT
  • 7% Legal
  • 6% Marketing
  • 1% Reserve Fund
  • 1% Social and Rural Development

Ecosystem asset reallocation:

  • 85% Land Recapitalization
  • 9% Business Operations
  • 5% IT Development
  • 1% Participation in Communities

Team

The Fieldcoin project is governed and supervised by Fieldcoin Ltd, registered in London. The team members are from France, Canada, USA, India, Belgium, Italy, the UK, Pakistan and China. There are over 25 team members including the advisors.

Marc Couzic is the  Founder/CEO.  He is a freelance commodities and crypto trader since 2013 and has been a “Contributor” to 3 blockchain projects this past year; Experty.io, Kart Block, and Magna Numeris.

Alexandre Palubniak is a Web Project Manager from France. He has spent 7 years as a freelance “Director Artistique”.

Jeremie Joncas is a COO from Canada but there is not much info on him. He owned a business for 4 years called J2 Entretien (but can’t find any info in it). He’s traded crypto for the last 1.5 years.

The rest of the team is similar to the above – very little experience in agriculture or blockchain.

There are also 10 Contributors/Advisors. They are average.

Verdict

When describing the benefits of Fieldcoin in Telegram, CEO Marc Couzic had this to say, among other things.

“Yes, it is a share profit system where 40% of net profits on production goes to the externalized land management company or farmer (choosen by Fieldcoin) exploiting the land and 60% to the owner. The holder of LANDS tokens won’t need to do a thing besides participating in decision concerning the type of crops and agricultural method used on its land. The idea is to levy the burden of execution for the investor and move towards agricultural automation processes. Additionally, the price of land grow on average 2-3% worldwide”

The idea of Fieldcoin is to have Decentralized Autonomous Communities that will decide on the agriculture products and management of their lands. They will vote on things like the amount of pesticides used, or if they want pure organic or reasonable agriculture.

The problem is DACs are complicated. Billion-dollar projects like Ethereum and EOS are still developing the tools to perfect them. Does Team Fieldcoin even have the ability to execute this massive project? It seems iffy, as they are fast approaching on the pre-sale and do not have an MVP. They only have this picture of one.

Risks

  • Small soft cap of just $3 million USD. According to the company: “the Proof of Concept can only be implemented once the FCO has reached $5 million USD. In the event of the cap not being reached, the Proof of Concept will be postponed.” This is sketchy. -1
  • The team is not very impressive at all. -2
  • Their business plan requires the minting of new Fieldcoin tokens to buy more land. They explain the process in detail here. -1
  • Only 13% of the funds raised will go to legal and marketing. -1
  • DACs are complicated. Many top projects are delaying launch until they figure out governance. -2

Growth Potential

  • First mover advantage. +2
  • They say they’ve already purchased land, have buying promises and about 35 offers to be displayed. +2
  • 85% of the Ecosystem asset reallocation is reserved for new land acquisitions further expanding the Ecosystem.+2
  • “Fieldcoin plans to target low-risk and average potential markets first, such as the countries within the European Union, and will then move slowly to countries with more venture capital and with much higher expected returns for Fieldcoin’s Ecosystem.”+1.5
  • 1% of the Fieldcoin tokens will be allocated to the Fieldcoin Foundation, which aims to develop community infrastructure. This project includes plans to build schools, water wells, irrigation systems, and roads.+2
  • “The Fieldcoin token is supported by “Trade-Back Protocol”, offering token holders the possibility to claim LANDS at a reduced price in case of market dips. Thanks to our upward trend capitalization mechanism, new physical lands will be acquired by Fieldcoin Ltd. increasing the guarantee of the Trade Back Protocol.”+2
  • Although we don’t score Fieldcoin well, these “respected” ICO sites have them ranked rather high. +0.5

Disposition

The tools required to build a proper DAC voting system are only now being built. Although something similar to this DAC agribusiness will someday soon be a reality, this project is too early and too ambitious, especially with such an inexperienced team. 5/10

Investment Details

  • Symbol: FLC (ERC20)  LANDS (ERC721)
  • Platform: Ethereum
  • Total Supply: 1 billion
  • Presale: Feb 4 – Feb 12, 2019 (100% bonus, 1 million USD worth of tokens available)
  • Price: 1 FLC = $0.05
  • FCO (Field Coin Offering) Start date: April 2nd 2019.
  • Hard Cap: $31 million
  • Soft Cap: $3 million
  • Telegramhttps://t.me/fieldcoin
  • Websitehttps://www.fieldcoin.io/
  • Barred Jurisdictions: USA and China

All unsold tokens will be burned.

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 27 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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