ICO Analysis: Connecty
All great businesses got that way by constantly researching and developing. Innovate or die. But innovation is not easy, as it takes a lot of time and money to study certain subjects and access the right experts. Untapped knowledge is buried in places such as laboratories, libraries, and experts brains all around the world, just waiting to be made accessible. Enter Connecty.
“Connecty.io unites all the players in the innovation chain, knowledge creators and innovators within a globalized circular knowledge economy, driven by a single currency of knowledge, by interconnecting the multiple fields of knowledge. Connecty.io is based on three founding values: fairness, openness and progress in harmony”
Using AI and a blockchain powered token, Connecty will tighten up all the inefficiencies companies currently have while outsourcing R&D. It’s a decentralized tool allowing fast and secure trades of knowledge by connecting the owner of knowledge with those who need it. It’s a simple concept.
The Innovator: Buyer of knowledge. He/she formulates their question on Connecty.io in a few sentences. The AI instantly translates the question into “scientific” and “business” language. A list of experts matching the required areas of competence is proposed. The innovator chooses the expert they want on the basis of competence, reputation and cost. Upon acceptance of the assignment, a smart contract is issued guaranteeing the framework of the mission for both parties.
The Creator of Knowledge: Uses the Connecty.io platform to gain visibility, offer and sell its services and expertise. He has access to a mission management interface. He can view his mission history, and respond to requests via secure messaging. At the end of the study, he is paid in CTY tokens that he can convert to fiat if he wants.
What Connecty offers:
CTY token is the “currency of knowledge”. Based on Stellar Blockchain, CTY is a utility token used for acquiring knowledge from knowledge creators (professors, academics, independent experts, etc.) and for purchasing goods and services within the Knowledge Store (subscriptions to professional journals and magazines, subscriptions to digital tools, books, conference entries around the world, etc.)
- 55% Crowdsale
- 11% Team and Advisors
- 9% Foundation Blue Horizon
- 5% Bounty
- 5% Early adopted users
- 15% Blue Horizon Reserve
Use of funds:
- 30% Technical development
- 30% Commercial development
- 20% Research and development
- 20% To support activities (legal, administrative aspects..).
From France, this team was hard to do research on. Although they say, “The Connecty project team contains more than 40 persons, who actively work for its success”, they only list 7 key memberswhose LinkedIn pages are far from impressive. They are part of or backed by the Blue Horizon Foundation, and their team can be found here.
Olivier Alirol – CEO. He spent the last 3 years at AUVALIE Innovation Group, a consulting firm helping startups finance their innovative projects.
Julien Brodier- CTO. He fo-founded Talium in 2013, a blockchain and middleware integrator based in France. Also founded Nova in 2006, IT engineering company focusing on Java EE, Oracle Middleware and database technologies
Samuel Tronçon – R&D Director. He spent 6 years as a researcher/director at Resurgences, and was in charge of 44 people.
Connecty “has advisors on neuroscience and knowledge, middleware, blockchain, innovation, science and two AI advisors. One of them, Olivier Nerot, has a PhD in Cognitive Sciences and has been invited to give TED speeches. The advisor on knowledge is a professor of knowledge economy in France, teaching his own course.”
In 2015, the global knowledge market was estimated at $1,926 billion, including $ 134 billion solely devoted to outsourced research and development. Connecty will be the first global knowledge marketplace to tokenizing this market.
- The process of contracting knowledge providers seems complicated and may cause users to get discouraged and walk away. You can learn all about missions and reputation tokens starting on page 24 of the 78 page whitepaper. -1
- Not enough info is provided on their “40 member” team. Shouldn’t have to spend hours searching. The fact that it’s not all laid out for everyone to see is concerning. -1
- They say their biggest technical challenge is the AI search engine. An alpha version of the platform will be released mid-September to demonstrate the capabilities of their technology. When we asked them in Telegram they said, “The alpha version of the platform will be available very soon.” -0.75
- This is big project that will need expensive marketing, and recruiting of knowledge providers. If they don’t hit their $11 million market cap, it could mean trouble. -0.5
- The community has a decent size so far with over 4,000 telegram members and 3,600 twitter followers. But that’s with a 5% total token bounty program. The support needs to be more genuine, as their Twitter posts are only getting 15 likes and 10 retweets on average. -1
- Building one of just a few Stellar apps, instead of one of a thousand apps on Ethereum is next level. Stellar has a powerful community, is partnered with IBM, and has the 6th biggest market cap in all of crypto. +3
- They are starting with 5,000 experts in France, as of June 2018. They will spread through Europe with plans to expand to other continents by 2025. +2
- CTY token is the only way for innovators to pay knowledge creators through the platform. +2
- The platform will generate 3 sources of income: service fees for knowledge buyer, sales commissions, premium subscription access. +2
- “A buyback program will buy back part of the issued CTY tokens on external exchanges. 60% of the Connecty.io platform turnover will be devoted to this program during the first 5 years (or when we will reach a total buyback amount of €33M) . The expected amount is about +€30M over the period 2019-2023.”+2
This project has a lot going for it, including their token economics. If they are successful in scaling, token holders will be very happy. 6.75/10
- Symbol: CTY
- Platform: Stellar
- Total Supply: 2.5 billion
- Hardcap: 11 million €
- Softcap: 1 million €
- Price: 1 CTY = 0.01 €
- Private Sale: ongoing 40% bonus
- Presale: TBA
- Public Sale: TBA
- Website: https://www.connecty.io
- Whitelist: https://www.connecty.io/ico/
- Whitepaper: https://www.connecty.io/files/Connecty-WhitePaper-US-LastVersion.pdf
- Telegram: 4,500 members https://t.me/ConnectyCoin
Unsold tokens will be burned
Featured image courtesy of Shutterstock.