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ICO Analysis: Digitize

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Digitize is an interesting project that looks to eliminate the use of change in any consumer transactions. Their solution involves an Acorns-style approach to change. According to the official whitepaper, “Digitize is an ecosystem which will provide users with a digital wallet, and allow them to save their loose change and cash digitally, at the point of a transaction.

Digitize removes the need to carry loose-change and promote the transition from a cash to a digital-based economy, which will reduce physical currency manufacturing cost, as well as reducing the challenges associated with physical change.”

The whitepaper also makes the point that the Digitize ecosystem will strengthen the overall cryptocurrency market by bringing an additional revenue stream into cryptocurrencies through the conversion of loose change.

Although a majority of the western world is adopting digital payments, many developing nations are still widely run on cash transactions. Digitize’s strategy aims to assist in the transition of cash into digital wallets.

Their whitepaper suggests that they will first target South Asian markets where cash transactions are still dominant.

The Digitize team makes the surprising point that the actual costs of manufacturing currency are incredibly high.

Specifically, they cite a recent report from CoinDesk, which stated that “the global production cost of notes in 2014 as $26.5 billion USD and $1.5 billion USD for coins. These figures are extrapolated only from the materials and labor operational costs needed to manufacture currency and do not contain any other factors like environmental implication and energy costs.”

Even more surprisingly, many of the coins cost more to manufacture then they are actually worth.

Statistics from the US Federal Reserve Mint demonstrate that both the nickel and penny cost more to make than they are worth. A penny costs 1.66¢ to make while the nickel costs 8¢ to produce. A quarter, worth 25¢, only costs 9¢ to make while a dime only costs about 4¢.

These costs eat into state budgets, reducing the available capital for necessary government spending.

Digitize’s solution is therefore to promote mainstream adoption of cryptocurrency. Digitize enables the conversion of loose change into crypto-currency at the retail point-of-sale by the customer. The converted cryptocurrency would then be held on an easy to use mobile digital wallet.

The Digitize mobile wallet will be available for both Android and iOS. In addition, there is no restriction on the type, size, or location of the retailer who may enable Digitize functionality.

Through Digitize, consumers will have a platform to convert and exchange their loose change for Ethereum to invest in a crypto index token.

Digitize also offers retailers a rewards platform, where they could award feedback rewards or offer discounts through the use of Digitize tokens to their customers.

Digitize will manage the:

  1. Digitize token creation and the token launch to fund development and expansion.
  2. Establishment of a decentralized, fair and secure model for token execution.
  3. Development of smart contracts to run the order payment and fulfillment process.
  4. Release of the website and mobile app for retailers and consumers.
  5. 5. Creation of an effective incentive model for all parties to join the Digitize ecosystem.
  6. Development of active marketing campaigns to ignite initial traction.
  7. Elaboration of the ecosystem’s regulatory aspects.

Retailers

According to the whitepaper, the retailer adoption of the Digitize platform is an important role for the success of Digitize, therefore, the ecosystem was strategically planned to be available as a free mobile application for any retailer in the world to install and use.

They incentivize retailers to use the platform by providing transactional revenue of 2% each time a consumer deposits change into their wallet through them.

Furthermore, they argue that the publicity, marketing, and consumer demand received by announcing a crypto-partnership will provide large-scale benefits to the retailer.

The retailer responsibility includes:

  1. Provide Digitize services directly to the consumer.
  2. Participate and create rewards programs.
  3. Review tutorials and manuals.
  4. Ensure regular deposits into their retailer wallet, to cover consumer demand.
  5. Promote the Digitize ecosystem by bringing traffic via online marketing.

Consumer roles include:

  1. Sign up to Digitize services.
  2. Participate in referral programs.
  3. Review tutorials and manuals.
  4. Provide feedback.
  5. Receive promotion, referral and feedback rewards.

The current standard electronic funds transfer at the point of sale (a customer making a digital transaction at a retailer) entails more than 10 different steps to settle a transaction, entailing a lengthy process that could be cut short with the use of Blockchain.

Digitize argues that blockchain technology can create a more efficient and trustful retail payment process.

Using the Blockchain enabled Digitize platform, consumers will be provided a means to store and save loose change, while also being able to make payments with their digital wallets.

On the other hand, retailers will benefit from instantaneous digital payments. The Digitize ecosystem provides retailers with incentives to adopt Digitize, through both transactional revenues on deposits made by consumers.

Each deposit transaction will charge the consumer 4% to deposit loose change into their digital wallets, with the retailer receiving 2% and Digitize receiving 2% of the value of the deposit. All trading and exchange fees will be at a set 1% trading fee.

Key components of the Digitize ecosystem include:

  1. Consumers who are willing to adopt cryptocurrency.
  2. Retailers who are willing to accept and deploy the Digitize services.
  3. An exchange that will allow Digitize to be traded for Ethereum and the crypto index.
  4. Additional components which will help to expand the adoption of Digitize and allow it to flourish include:
  5. Cross-marketing rewards between the retailer and the Digitize platform.
  6. Referral rewards for consumers.
  7. Promotions from suppliers to consumers.
  8. Feedback rewards.

Retailer Wallet

The retailer will be required to keep a minimum amount of Digitize tokens in their wallet so that when consumers do come into the store, they have sufficient amounts ready to be transferred to the consumers’ wallets.

The retailer will have a QR code generated unique to each transaction which will allow the instant transfer of Digitize tokens to the consumer.

Retailers can either purchase Digitize tokens on the platform or keep the tokens that consumers use to pay for goods and services. The retailer will be incentivized a percentage of the deposit-transaction fee.

Rewards

Rewards will be given to a retailer to motivate them to encourage consumer adoption of Digitize. These rewards will be provided through a percentage of the transaction fee, as well as through reaching certain milestones i.e. the more consumers they refer to Digitize tokens the more free tokens they will receive.

Feedback Rewards

Businesses seeking feedback on goods and services that they currently provide, or should they wish to introduce new goods and services, can provide incentives to consumers with Digitize tokens to motivate them to participate.

The feedback system will allow the businesses to conduct market research or focus groups that will enable them to understand the needs and wants of their consumers in more detail.

Information from the consumers will be securely stored and processed so as not to identify the consumer and will allow them the freedom to provide open and constructive feedback that will help all parties involved.

Business App

The business app and website will provide businesses with a dashboard where they can see the amount of Digitize tokens they have as a balance, the value of Digitize tokens they have, and other businesses that are on the Digitize platform that they may want to cross-market with.

The app will also provide businesses with a platform to set up promotions and discounts, rewards programs and receive feedback from consumers.

The app and website will both be securely protected with two-factor authentication.

The components of the business app are as follows:

Wallet

  1. Shows the amount of Digitize tokens the business has, and the value in local currency.
  2. Provides an option to send funds to consumers which will then generate a QR code.
  3. Shows the amount of cryptocurrency the business holds, and the value in local currency.
  4. Provides a means for the business to exchange between ETH and DTZ.

Payments

  1. Shows the number of digital tokens the business holds.
  2. Payments supported through DTZ and ETH.
  3. Provides a means of payment using supported cryptocurrencies the consumer holds.

Rewards

  1. Displays the number of feedback rewards.
  2. Option to set up rewards, promotions, and discounts on the business platform, for consumers to see.
  3. The app and website will provide access to video tutorials for businesses on how to use the various functions.

Token

The Digitize token is the entire foundation upon which the ecosystem rests. The utility of tokens are as follows:

Incentives For Businesses

  1. An innovative payment option.
  2. Increased security as currency is kept on a digital platform and not physical.
  3. Ability to accept multiple payment options for goods and services;
  4. Reduced reliance on physical currency i.e. to keep coins to give as change.
  5. Networking opportunities to interact with new businesses that will complement their own business.
  6. Provide attractive promotion and loyalty rewards to acquire and retain consumers.
  7. Get direct customer feedback.

Incentives For Consumers

  1. Being able to use Digitize tokens to purchase goods and services.
  2. Carrying less physical currency.
  3. Not losing money as it will all be digital in their own personal wallet.
  4. Ability to exchange to Ethereum and invest in the Crypto-index.
  5. Having new innovative rewards programs with retailers.
  6. Ability to earn Digitize Tokens for referrals.

Token Distribution

According to the white paper, Digitize will initially keep 10% of tokens in reserve to ensure liquidity and supply. Once the reserve is diminished, Digitize will purchase tokens regularly to ensure liquidity remains positive, by buying tokens at market price when token allocation is below 5% of total supply of Digitize holdings.

The total allocation of tokens will be 60% to sale to the public, 20% will be reserved for the team, 5% will be saved for advisers, 3% will be used to fund the bounty and airdrop programs, and 2% will be allocated for community managers. The remainder 10% will be used as a contingency for future reserves.

The whitepaper states that an airdrop will be scheduled three weeks after the ICO for individuals that refer a friend to Digitize, through their unique link.

The proceeds from the token sale are allocated as follows:

  • Research and Development Costs 65%
  • Sales and Marketing 23%
  • Admin and Operational 10%
  • Legal Costs 2%

Any tokens not sold in the token sale, will either be burnt or distributed equally to existing token holders.

Team

The Team looks pretty legitimate and appears to be doing their best to follow ICO best practices, including getting their smart contract audited.

Their CEO has double bachelors in Engineering and Business Management from The University of Technology, Sydney. He has over 6 years of experience in the tech industry last working as a portfolio manager with IBM, where he managed the Westpac account, which is one of Australia’s leading banks.

Their head engineer is a blockchain engineer particularly interested in Ethereum and Smart Contracts. In the fiat world, he has over 10 years of international experience in Big Data and Machine Learning projects. He got his MSc in High-Performance Computing with distinction from the University of Edinburgh, United Kingdom.

Notably, he also helped create the backend for PlayStation 4. He is also a triple winner in two different international IBM Apache Spark competitions and a handful of other successful hackathons.

The rest of the team is fairly large with skills useful to this type of project. Their ICO advisers are also fantastic. For example: One of them is Lead ICO Adviser at MoonShot Asia and also the Senior Talent Acquisition Specialist at CryptoRecruit. Another is the founder of OpenInfluence, featured in Forbes 30 under 30 in the area of Marketing and Advertising. Another is currently a Director at Kapronasia, one of Asia’s leading financial technology research and consulting firms.

In short, this is a well-rounded team with good advisers.

Verdict

Below is a breakdown of the risks and opportunities associated with Digitize.

Risks

  • When completed, the Digitize platform will be dependent on third parties to adopt, implement and to continue to develop, supply, and otherwise support the platform. There is no guarantee that those third parties will uphold their end of the bargain which will have an adverse effect on the Digitize platform. This is an example where relinquishing control could be problematic. -3.5
  • While the Digitize team does seem to focus heavily on marketing at the outset, it seems problematic that there won’t be a dedicated sales team to onboard retailers. This seems like a problem stemming from worshipping the decentralized ideology of the blockchain over actual business value. -2.5

Growth Potential

  • Low token supply is always a plus. This means it will not take a lot of capital to raise the price. +2
  • The team seems highly qualified and has gotten out of their way to legitimize the project. They did this by getting a trusted third party to audit their smart contract (it was cleared with flying colors) as well as by putting their own exhaustive list of risks in the whitepaper themselves. +4.5
  • Every use of the proceeds of the token sale is painstakingly mapped out in their roadmap. +3

Disposition

We arrive at a score of 5.5 out of 10 for Digitize. While this could be a worthy investment, the Achilles heel for long-term hodlers will be whether mass retailer adoption actually occurs.

Investment Details

  • Token Type: Utility
  • Platform: Ethereum
  • Symbol: DTZ
  • Token Price: 1 DTZ = 0.0002 ETH
  • Token Supply: 200,000,000 Total
  • Soft Cap: 600 ETH
  • Hard Cap: 20,000 ETH
  • Public Sale: 06 April 2018
  • Jurisdictions Barred From Participating: N/A
  • Website: https://www.digitizecoin.com
  • Whitepaper: https://www.digitizecoin.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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ICO

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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ICO Analysis: ECOMI

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ECOMI Collect is a delivery cross-platform (mobile, desktop, web) application and marketplace for buying, selling and swapping premium licensed digital collectibles and digital artwork. The authenticity and scarcity of digital collectibles is created using Distributed Ledger Technology (DLT). ECOMI Collect is operated and supported by ORBIS Blockchain Technology Limited, a registered company in New Zealand, with offices in New York, Auckland, Taipei and Shanghai. ORBIS is comprised of 17 staff plus 14 board members and advisors.

ECOMI has a vision of being the #1 platform for buying, selling, and trading premium digital collectibles and virtual goods using Distributed Ledger Technology. ECOMI plans to revolutionize the 200 billion USD collectibles market by building its own ecosystem (ECOMI Collect) on Blockchain technology and a Secure Storage Wallet. ECOMI already has major brands on board that will give them instant worldwide attention and credibility. They also have a team that is unparalleled in this industry including their Head of Global Licensing, Alfred Kahn, who is responsible for bringing Pokemon to the world as well as “go to market” strategies for iconic brands such as Cabbage Patch Kids, Pokemon Go, Teenage Mutant Ninja Turtles, Yu-Gi-Oh and many more.

ECOMI Collect will give users real ownership of premium licensed digital collectibles and virtual goods while providing counterfeit protection and the ability for peer to peer transactions. ECOMI Collect intends to dominate this market by capturing six main categories: movies, television series, evergreen characters, animation, gaming, and digital art. Every user will have their own personal showroom which they can customize by using different layouts, backgrounds, and props. Users can make their showrooms private or public, and even share across multiple social media platforms. The vision is to revolutionize the collectibles industry by creating the world’s best platform giving users the freedom to interact and control their digital collectibles worldwide.

The ECOMI Secure Wallet is the world’s first wireless, credit card sized, cryptocurrency hardware wallet. It is a true cold wallet that never connects directly to the internet that employs (CC EAL 5+ Security) government level encryption and security. It also uses an encrypted secure Bluetooth connection to the host device (iOS or Android smartphone) removing the need for a wireless connection. The Secure Wallet has an E-paper display on the card to view balances and pairs with the ECOMI app to view manage balances online. The ECOMI Secure Wallet can bend, waterproof, and has a fully rechargeable battery. There are no extra fees or contracts and it currently supports Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash.

Token

The ECOMI token is needed for the sale and purchase of digital collectibles and secondly, access to extra features and benefits within the app. The digital collectibles offered through ECOMI Collect are Non-Fungible Tokens (NFTs). In order to facilitate the purchase and trade of digital collectibles, ECOMI Collect utilizes the OMI token. The OMI tokens will be GO20 standard whereas the digital collectibles are GO721 (NFTs). When a purchase of a collectible is made, the OMI tokens will be exchanged for the NFT. The NFT will be sent to the users Ecomi Collect app and become rightfully theirs, whilst the OMI tokens used for the purchase are discarded to a locked address.

Use of funds:

  • Licensing Acquisition -55%
  • Product Development -22.5%
  • Marketing Expenses-15%
  • Business Operation -5%
  • Legal Expenses -2.5%

Token allocation:

  • ICO (Private & Public Sale) 20% | 150,000,000,000 OMI
  • In App Purchases 40% | 300,000,000,000 OMI
  • Business Development 20% | 150,000,000,000 OMI
  • Team, Advisors, Board Members 20% | 150,000,000,000 OMI (ECOMI Team / Board / Advisors 12 month cliff, ECOMI Founders 24 month cliff, then vested at 25% quarterly)

1 token is equal to 1 satoshi and is only planned to be listed as BTC pairing on exchanges to minimise any potential downside to the token price.

Team

Below is a breakdown of the key team members.

David Yu (Co-Founder & CEO)

  • Founder – Games R Us
  • Founder – Retail Management Group
  • Trustee – Touchable Earth Foundation
  • 2016 Young Entrepreneur of the Year Award – Australia New Zealand Chamber of Commerce Taipei
  • 21 Years Experience in Collectibles and Branding

Alfred Kahn (Head of Global Licensing)

  • Chairman & CEO of CraneKahn LLC
  • Chairman of the Board of Toon Goggles Inc.
  • Chairman & CEO of 4Kids Entertainment Licensing
  • Responsible for the biggest hits in licensing such as Pokemon, Cabbage Patch Kids, Teenage Mutant Ninja Turtles, and Yu-Gi-Oh!
  • Credited for the marketing of brands such as Nintendo, Mario Bros, Donkey Kong, Zelda, James Bond, WWF, WFW, and Xbox to name a few.

MB Technology

  • Co-Founder of the Interoperability Alliance
  • Benn has lead ICO strategy for projects such as Wanchain, Quarkchain, Aion, Icon, GoChain, Origo, Fantom and many more. Benn has brought multiple top-tier projects to the cryptocurrency market and is definitely considered an industry leading advisor.

Daniel Crothers (Co-Founder & COO)

  • Co-Founder ABC Stars
  • Co-Founder Digitalus
  • Co-Founder HERB

Joseph Janik (Co-Founder & CIO)

  • Co-Founder of Movement Food
  • Territory Business Manager of TechnoGym
  • Account Executive of Rivkin

Verdict

The virtual goods market is currently at $80 Billion USD and expected to grow to $100 Billion USD within the next three years. The collectibles industry already generates $200 Billion USD annually, and ECOMI has strategic plans to capitalize on this growing trend in both markets. With this team’s credibility, ECOMI can easily become a major player in this field from their launch.

Risks

  • Only 20% of tokens are available during the ico sale which is considered to be on the low side. However, ico’s with similar token metrics, such as QuarkChain, have performed quite well. -1.5
  • Although they may not have team members as well known as the ECOMI team, there are competitors that have the advantage of already being in the space. -1

Growth Potential

  • Compared to other ICOs with all-star teams, the hard cap is rather low which allows for greater opportunity for growth among initial investors. +1.5
  • The team brings years of expertise and experience in the necessary areas for ECOMI to succeed in what they’ve set out to achieve and is definitely the star of this ico with major credibility and recognition. +3
  • Strategic partnerships are key to helping ico’s succeed. ECOMI has partnered with CraneKahn® which is an international PR and licensing company powered by the visionary Alfred Kahn. Alfred brought to the world iconic brands, licensing programs and caused the viral adoption of major brands such as Pokémon/Pokémon Go, Cabbage Patch Kids, Teenage Mutant Ninja Turtles, Yu-Gi-Oh!, Super Mario Brothers and many more, earning him membership in the Licensing Hall of Fame and KidscreenHall of Fame. ECOMI has also signed, or is at the final deal memo stage or MOU, with many top global brands. +3
  • Real world application is instrumental for the success of any blockchain project. An instore retail program will be introduced to support consumers with retail products being distributed throughout 4,000+ retail channels established through existing relationships. +2

Disposition

With ico’s on the decline and recently shown in a negative light in the media, ECOMI could be exactly what investors are looking for: a project with a stellar and highly respected team, an achievable roadmap, and entering the virtual goods market which is estimated to reach $100B over the next five years. ECOMI receives a 7 out 10 rating.

Investment Details

1 token is equal to 1 satoshi and is only planned to be listed as BTC pairing on exchanges to minimise any potential downside to the token price.

  • Symbol: OMI
  • Token Type: GO20/721
  • Total Circulating Supply: 750,000,000,000 OMI
  • Tokens Available for Sale: 450,000,000,000 OMI
  • Price: 0.00000001 BTC (1 Satoshi)
  • Hardcap: 1,500 BTC
  • Accepted Currencies: BTC

Learn More:
Website:  ECOMI.com
Pitch Deck:  ECOMI Pitch Deck
Telegram:  t.me/ecomi
Medium:  medium.com/ecomi
Twitter:  twitter.com/ecomi_
Facebook:  twitter.com/ecomi_
YouTube:  www.facebook.com/ecomi.ecosystem

Disclosure: Analyst does not own ECOMI tokens. 

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ICO

ICO Analysis: Dispatch

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Although it has the highest market cap and is the most popular cryptocurrency, Bitcoin is able to proceed on average only seven transactions per second. This means that when twenty people try to send their BTC at the same time, more than ten of these people have to wait until their transaction is confirmed and for the receiver to get their BTC.

It is the same with Ethereum as well, due to its average fifteen transactions per second. Cryptocurrencies face a problem of scalability and if they are to reach the holy grail of main-stream adoption at some point in the future, this issue must be solved.

But that is not all. When there is a network congestion and you need to send your tokens immediately, you might have to pay high transaction fees as well. Consider the following scenario: You are at a coffee shop, getting your morning coffee. They accept cryptocurrencies and you want to pay with your ETH. Unfortunately, there is a network congestion so that in order to pay ETH worth of $3 immediately, you have to pay a transaction fee in ETH worth of $5.

Dispatch is a project proposing solutions to these issues. Its protocol enables fast, scalable, secure DApps without any transaction fees. It handles governance on-chain and data off-chain, making high transaction throughput a possibility as the network works more efficiently this way. Although Ethereum is deemed to be the main platform for DApps, the protocol is backward compatible, meaning that almost every decentralized application built on Ethereum can be moved to and work on Dispatch.

Three key components of the Dispatch Protocol are as follows.

  • The Dispatch Ledger: Just like with Bitcoin and Ethereum, the Dispatch Ledger keeps the record of transactions.
  • The Dispatch Artifact Network: A network of data farmer holds data that cannot fit in the ledger.
  • The Dispatch Virtual Machine: DVM connects these two main components.

Dispatch’s own Delegated Asynchronous Proof-of-Stake (DAPoS) consensus algorithm enables a fast and eco-friendly environment for decentralized applications by incentivizing collaboration among validators, instead of competition as in other blockchain projects. It’s main difference from its competitors is its dependence on individual transactions’ gossips rather than the sequential distribution of blocks.

Token

The Dispatch token will be used to conduct transactions, for community building and as a bridge to other components of the Dispatch ecosystem.

The total supply of DAN is 25,000,000,000 tokens. 42% of the total supply will be allocated for the token sale. No other information on the token distribution and how the team is planning to use the token sale proceeds are made public yet.

Team

CEO Matt McGraw: McGraw was the vice president of culture, client and staff experience at Synoptek and the manager of consulting services at All Covered.

Patrik Wijkstrom: Wijkstrom has worked as the director of advisory services at PwC, as the senior manager of user experience at Juniper Networks and as the content and attribution tools manager at Nortel Networks.

Zachary Fallon: Fallon worked as senior counsel for eight years at the U.S. Securities and Exchange Commission and as an associate for about 3 years at Latham & Watkins.

Darin Kotalik: Kotalik was a marketing operation strategist at Cisco and a senior product manager at Adobe Systems.

Colin Lowenberg: Lowenberg has worked as a solution architect at Cisco Meraki, as a chief wireless architect at Accenture and as a wireless field applications engineer at Broadcom.

Denis Molchanenko: Molchanenko was a lead automation engineer at Hitachi Data Systems, a performance engineer at IBM and at Charles Schwab.

Dmitri Molchanenko: Molchanenko has worked as an automation engineer at Intuit and as a staff QA engineer at VMware.

Advisors

Nicole DeMeo: DeMeo has provided her marketing consultancy services to Babbel, Peak Games, Trendyol, Hewlett-Packard and Organic.

Gil Penchina: Penchina has held respectable positions at eBay, Bain & Company and General Electric.

Tim Siwula: Siwula was a software engineer at ConsenSys.

Andrew Segal: Segal is an assistant professor of computer science at the University of San Francisco.

Paul Lambert: Lambert has worked at Marvell Semiconductor, Oracle and Motorola.

Jordan Burton: Burton was a case team leader at Bain & Company and the director of business development at EzGov.

Investors

Fenbushi Digital: Fenbushi Digital is an Asian leading firm investing in and promoting blockchain projects.

Verdict

Below is a breakdown of the risks and growth potential of Dispatch Labs.

Risks

  • The main problem which transaction fee-free blockchain projects usually face is that either the network is highly centralized or successful attacks on the network are not costly. It is not clear that how the Dispatch Protocol can operate without facing these two issues. (-1)
  • Very limited information on token metrics and token distribution is made public so far. (-1)

Growth Potential

  • Great team and advisors. (+2)
  • The token sale will be conducted after the main-net is launched, which is something we do not see very often. The team seems to do things right and this should provide trust in the project for the ICO investor. (+4)

Disposition

Top cryptocurrencies such as Bitcoin and Ethereum are known to have problems of scalability and occasional high transaction fees. Although most decentralized applications are built on Ethereum, the low transaction throughput makes it inconvenient to use them as well. Dispatch provides a fast, secure and transaction fee-free network to solve these issues. By dealing with governance on the chain and data off the chain, it is able to provide high transaction speed and its own consensus protocol Delegated Asynchronous Proof-of-Stake provides an eco-friendly mining solution by incentivizing collaboration instead of competition among validators. Thanks to its backward compatibility with Ethereum, any decentralized application working on Ethereum can work on Dispatch as well. There is very limited information on token metrics and token distribution as of the time of writing and this makes it hard to evaluate the project’s financials and estimate any potential return on investment.

The usual problem that blockchain projects without transaction fees are that either they are highly centralized, or they do not have strong defense mechanisms to evade attacks. It is not clear that how the Dispatch Protocol can operate without facing these two issues. On the bright side, the project has a great team and is backed by an all-star advisory board. The token sale is planned to be conducted after the main-net is launched and this is something we rarely see nowadays.

Dispatch Protocol receives a 4/10.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: DIS
  • Platform: Ethereum
  • Crowdsale: Unspecified
  • Minimum Investment: Unspecified
  • Price: $0.005
  • Hard Cap: $39,500,000
  • 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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