ICO Analysis: ClearPoll
ClearPoll is offering a decentralized solution that makes it possible for the general public to vote securely and have their votes safeguarded on the blockchain without fear of having their opinion censored or misrepresented in any way.
The ClearPoll concept is centered on the fact that many times today the media manipulates and misrepresents public opinion recorded through polls in a bid to get it to suit its own interests or those of other parties involved. This is at times done in order to support specific agendas or to create sensational headlines. There are numerous examples of situations in which the alleged prevailing public opinion polls on sensitive topics and the actual outcome on the ground ended up showing huge disparities for which no one can really account. These are the issues that ClearPoll seeks to address by decentralizing the powers behind this sensitive process using the unique advantages that the blockchain has to offer.
Like most blockchain models, the power in the polling processes at ClearPoll is beyond the control of any one individual by virtue of its being decentralized. This means that once votes are cast no one can alter the results not even the staff members behind the project. Additionally, it provides a social hub environment whereby apart from voting, users are able to view the results and even share them socially. There is already a mobile app and desktop platform where one can conveniently access pertinent features of the provision without difficulty and even without any knowledge of the blockchain technology.
The concept allows users to look through existing categories of interesting topics including entertainment, sports, politics, the environment and many more and pick the one they care the most about. Under these different topics, users get to pick the topics for the poll through a voting process with the most popular topic becoming the next active poll within 24 hours of the topic selection process. Topics that have been covered in the past are unlikely to resurface as active polls but users can easily view the results from the completed polls. The anonymous voting process also takes 24 hours during which users are able to keep track of the numbers and by the end of this period the results are announced.
The results of any given poll can be shared by users within the network by pinning on a personal wall. It is also possible to purchase merchandise from the platform to wear and share the results with the general public.
The company behind the project is based in Australia and has been in the app developing industry for some time. What makes them seem viable is the fact that they already have some apps in the market that have gained popularity, one which has over 10 million users globally.
The ClearPoll platform is based on the use of POLL tokens that are ERC-20 compliant. During the pre-sale period, these tokens are rated at 1ETH=3,000 POLL and afterwards during the actual sale will go down to 2,500 POLL.
Around 70% of these tokens will be sold to crowdfunding investors while 10% will be reserved for future use as rewards and issuance to the developer team and advisors. At the end of every poll, 100 tokens will be destroyed.
This token will be the only way to subscribe to the ClearPoll Plus feature of the platform to access valuable data on various pertinent topics.
The ICO process is aimed at raising 1000 ETH or the equivalent of close to $300,000 and the team says it would be able to complete its app development project on half that amount. Therefore the minimum target is 500 ETH, a figure they seem likely to be able to raise. They are however still unclear about the number of tokens they intend to float which is rather worrying for investors. Additionally, there is no market cap on the ICO, another worrying aspect for investors.
The ClearPoll Director and Lead Developer is Robert Culley. Daniel Abela is another Director and the Lead Designer for the project and Simon Cocking is the Advisor. Both of the Directors have extensive experience in designing mobile apps.
ClearPoll has already partly designed the mobile app and at the moment users are able to access limited options on the platform to navigate and vote. They seem up to the task and when they get the required funds they will complete the project.
We believe that the ClearPoll concept is based on an actual need in the market for people to have their say and get accurate poll results on their topics of choice. On the basis that many organization need such data to formulate strategies and make decisions the concept might actually be viable.
- The greatest risk inherent to this concept is that the founders are not clear on the number of tokens that they are going to generate and there is no market cap for the ICO. This makes it seem rather risky for investors because there is no way of telling if at all the investment will be worth their while or how long it will take for them to start enjoying a significant return. -2
- By virtue of the sensitive nature of information and its ability to shape various dynamics, this platform will certainly be targeted by hackers. -1.5
- Commercial entities and other bodies indeed require such a provision and on the basis of this need we will have quite a reasonable demand for this service in the market. +2
- The idea of destroying 100 tokens after every poll is bound to give a boost to the remaining tokens and this seems like a viable way to lure investors. +2
- The fact that one will require POLL tokens in order to subscribe to the ClearPoll plus service will create demand for the tokens especially for organizations that require such results to tailor their operations. A high demand for tokens means a good market price and this is good news for investors. +1.5
- Much as the concept is based on blockchain technology, users are not required to understand how it works and by virtue of that there is a whole world of users likely to be eager to use the app and this will likely make the idea a success. +1.5
- ClearPoll is highly likely to benefit from the fact that its poll sample size will be very large and will cut against the social, age and background demographics with ease as it can be used by virtually anyone on the planet to have their say. +1.5
We arrive at 5 for ClearPoll or average. We feel that the concept is tailored around a real need for the market and is likely to succeed. But the lack of clarity in pertinent details raises more questions than we can get answered.
Further details on the ongoing discounted pre-sale and the actual sale can be found on https://www.clearpoll.io/