Connect with us

ICO

ICO Analysis: Digitize

Published

on

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 10 rated posts




Feedback or Requests?

ICO

ICO Analysis: Bounty Angels

Published

on

ICO bounty programs are popular among investors and blockchain startups alike. They give opportunistic cryptocurrency investors a way to earn tokens for promoting a project and they give companies a way to market their project.

Bounty Angels is looking to automate the process, matching who the company describes as “blockchain entrepreneurs,” or bounty hunters, with ICO founders. Bounty programs are marketing campaigns launched by companies in which bounty hunters can earn tokens for touting the upcoming ICO. It solves a problem for a new startup that might not have the marketing muscle or the capital to gain the global exposure they need for a successful launch.

Bounty hunters, however, face many hurdles in identifying relevant projects to promote, in some cases being overlooked for a lack of a track record, for instance. ICO founders also face challenges, including engaging with bounty hunters who break the rules.

Bounty Angels is offering a solution, one that automates and streamlines the bounty process for both sides. Bounty hunters generate a performance history and that data is then shared with ICO founders on the Bounty Angels platform. For the bounty hunters, they won’t have to worry about engaging with a worthless or scam project, as Bounty Angels vets all of the ICOs that are on its platform. There is an alpha version of the platform available today, according to the company’s blog, though when we clicked on the link it appeared to be down for maintenance.

Artificial intelligence appears to be part of the long-term plan, as evidenced by the white paper that states: “Automated technologies when coupled with the expertise of professionals and, going forward, artificial intelligence, will allow [us] to create an all-new image of Bounty programs.” The team admits it is an ambitious goal, one that involves “launching our service around the world … to attract the highest possible number of customers and Bounty Hunters.”

The project is powered by the BANG token, which bounty hunters have the option to accept as a reward for their marketing efforts. Bounty hunters can also choose to accept free tokens from the project they’re promoting.

Token

The Bounty Angels  BANG token will be issued in the ICO. BANG is designed to fuel the project’s ecosystem including payment to bounty hunters and can also be exchanged among token holders. The company maintains that the BANG token cannot be deemed a security or any other financial instrument.

 

Source: Bounty Angels

There is also a bonus program.

Source: Bounty Angels White Paper

Team

Anatoly Krasovsky is at the helm of Bounty Angels. He’s also a project manager at NEWSBTC, according to his LinkedIn profile. The company’s CTO, Andrew Tar, is also a journalist.

Verdict

The Bounty Angels ICO has the potential to catch on like wildfire among ICO investors. It’s an engine to connect bounty hunters with the best blockchain projects that are looking for marketing. While the project displays tremendous promise, it doesn’t appear to have advanced enough from the concept stage, as evidenced by its dependence on the ICO funds to both develop the platform and hire developer talent. Once these pillars are in place, there could be no stopping Bounty Angels.

Risks

  • The company is still hiring developer talent for the creation of  “complex smart content that will
    make it possible to automate distributions.” The fact that the developer talent is not yet in-house exacerbates the risk for investors as it could lead to delays in the building out of the ecosystem until the team is a well-oiled machine. Not to mention if the fundraising efforts fall short and prevent them from hiring top talent. (-3)
  • There doesn’t appear to be a mention of mobile anywhere in the white paper. While this doesn’t necessarily mean that an iOS and Android app isn’t on the horizon, it may be far down the roadmap if it didn’t warrant a mention. (-1)
  • Bounty Angels is not the only rodeo. They allude to a competing project, Bounty0x. (-1)

Growth Opportunity

  • Research suggests that there’s a direct link between bounty programs and ICO tallies. The larger the bounty campaign, the higher the amount that the ICO ultimately raises, suggesting that the engagement of bounty hunters pays off. According to Element Group, which performed the research, “[A] $1 increase in bounty campaign volume predicts between an $8 and $15 increase in the final amount raised.” This should incentivize ICO founders to participate in bounty programs and potentially join the Bounty Angels platform. (+3)
  • Artificial intelligence is a key technology that could propel the platform beyond the competition, especially if said competition isn’t automating their process yet. While it’s unclear when AI would be implemented, it does appear to be on the roadmap. (+3)
  • According to the website, Bounty Angels has received a good amount of media attention, which may have something to do with the fact that its management team doubles as journalists. This is a plus for the project and its upcoming ICO. Also, if the adage ‘you get what you pay for is true,’ that’s a plus for Bounty Angels as it’s a paid platform. (+2.5)
  • What the company describes as “intensive work” on the project hasn’t even begun yet. While we could view this as a risk or reward, we decided to count it as a plus, as it explains why so much has yet to be done. It also reminds us that Bounty Angels has yet to reach its full potential of where the project can be when it is in full-throttle. The beta version is scheduled for January 2019.  (+3)

Disposition

We come to a score of 6.5 for the Bounty Angels ICO. Keep in mind we will plan to revisit this project once it kicks into high gear.

Investment Details

  • Token Type: ERC20
  • Platform: Ethereum
  • Symbol: BANG
  • Pre-ICO: Sept. 3, 2018 – Oct. 3, 2018
  • Public Crowdsale: November – December 2018
  • Token Supply: 20 million
  • Tokens Available for Sale: 14 million across the pre-ICO and ICO
  • Soft Cap: Pre-ICO = $100,000
  • Hard Cap: Pre-ICO = $500,000; ICO = $3.5 million
  • Token Price: to be announced
  • Payment Methods: to be announced

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 24 rated postsGerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.




Feedback or Requests?

Continue Reading

ICO

ICO Analysis: Zeex

Published

on

Zeex is offering users the ability to exclusively use crypto when shopping at various outlets. Users will be able to directly purchase whatever items thy want from their brands of choice without having to convert their crypto into fiat.

The following video shows Zeex in action outside of the Consensus conference at a Starbucks, where the CMO Apan Amos Damri uses their beta version to buy a cup of coffee using Ethereum. The transaction was successful, but the verdict is still out on whether they were able to spell his name correctly on the cup.

The ZIX token is what the whitepaper calls a “core element” of the solution, which does three things. It covers a user’s transactional risk until the trade is complete, it determines who can exercise what kinds of transactions when based on advertised discount rates and supplies, and it’s also a login method to use the Zeex platform.

To the surprise of probably very few people reading this, Zeex is a spinoff sister company of a European marketplace for buying and selling gift cards called Zeek Group. For Zeex, the road is already paved in terms of getting access to close relationships with name-brand retailers and a multi-million dollar inventory of gift cards.

Zeek has been able to raise venture capital from firms such as Blumberg Capital, Qualcomm Ventures, Scale Up Venture Capital and more.

The Zeex business model hinges on a few potential incomes streams:

  • Providing working capital to gift card suppliers, easing the transition for many businesses hesitant to get into the crypto field.
  • Financial services to support suppliers financially.
  • Marketing services to help suppliers speak the lingo of the cryptocurrency world. The whitepaper states that “Zeex has already mastered these industry-specific marketing channels and has been engaged in community building for a significant period, its in-house marketing team is already equipped to help suppliers build their own communities and maximize their value per transaction.”
  • Platform adoption and market penetration to help suppliers integrate crypto into their business makeup
  • Operations support to help suppliers and users better understand and utilize the platform.
  • Provide business intelligence data to retailers on cryptocurrency users.

Token

 

Risks

  • Not an entirely frictionless experience: This isn’t a problem unique to just Zeex, but is present throughout most digital payment solutions. Unless you can tap your phone on a receiver like Apple Pay, you’ll be behind the most “frictionless” payment system out there. However, this is miles ahead of crypto transactions. -1
  • Not really sold on the need for an ICO (for the investor’s sake): Although the Zeex platform sounds pretty useful, investor upside seems fairly limited (but then again, who can accurately predict investor upside in this space circa 2017/2018.  -2

Growth Potential

  • It works! Few projects raising money via ICO can boast a working beta, and Zeex already does and has a use case that many cryptocurrency users would likely want. +2
  • Yay user adoption! One of the largest detractors of the transactional user of cryptocurrencies is that it’s incredibly complicated and tedious. If you have 8+ steps before you can pay for a coffee, chances are you’re going to opt for that .25 second swipe of a Visa in your pocket. +2
  • Finally, a use for gift cards. When’s the last time you got a gift card that wasn’t from Amazon that you actually fully used? Too many people have gift cards just sitting around either untouched or with a fractional amount on them. There is a whole secondary market for discounted gift cards, and there’s a huge value in using these gift cards in a business model such as Zeex’s. The team essentially has a pool of gift cards going for a discounted price (usually around the 5 to 15% range), and are able to provide a solution to a community in dire need of one. +1
  • Zeek partnership. Having a sister company that already has the relationships with retailers necessary puts Zeex way ahead of the game. It’s not your typical run of the mill ICO that aims to build everything from ground zero for a lack of strategic partnerships, but more so a use case to be implemented with an already successful company. +3
  • Limited downside: Zeex claims that it will safeguard token value by using proceeds of the often sale to guarantee the supply of gift cards at the highest possible discount from a wide range of brands. If this means what I think it means, that worst case scenario you can use Zeex tickets to exchange them for gift cards at any time, and if there isn’t a stark depreciation of purchasing power for Zeex tokens, this is a cool perk few other ICOs can offer. However, if I’m wrong, write this point off as whitepaper tomfoolery. +2

Unknown

  1. This sounds like either a huge tax headache or a huge tax advantage. If the current American tax law stands that the exchange of crypto for fiat (or gift card) constitutes a taxable event, the Zeex team would have to figure out a way to help users report their taxes on these events. If this is the case, a -2 would be added to my score. However, if there is some international gift card loophole where users can trade any crypto for gift cards and there not be a taxable event, that would be huge for the team (although unlikely, because Uncle Sam is gonna get what he thinks is his). If this is the case, a +5 added to my score.

Disposition

We arrive at a +7/10 for Zeex. It’s got a cool use case, already works (in beta), and a relatively strong partnership in place. If the appreciation of the token’s value is correlated with the success of the app, investors would likely be pretty happy. However, if it’s just another token limited to its own ecosystem, I don’t see much use in investing into it unless you plan on using the Zeex app.

Investment Details

  • Type: ERC20 – Utility
  • Symbol: ZIX
  • Platform: Ethereum
  • Crowdsale: TBA
  • Minimum Investment: 0.1 ETH
  • Price:1 ETH = 5,000 ZIX
  • Hard Cap: $50 million U.S.
  • Payments Accepted: ETH
  • Barred from Participating: Israel, U.S., China, Lebanon, Iran.

Sign up for the Zeex email list to find the news for the public crowdsale on the Zeex website and check out their whitepaper.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 17 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




Feedback or Requests?

Continue Reading

ICO

ICO Analysis: Tolar HashNET

Published

on

No one can deny that blockchain technology is revolutionizing many industries across the globe. However, blockchain still has shortcomings such as slow transaction times, scalability issues and high environmental cost. Transaction times can take up to several hours versus traditional payments like credit cards or bank cards only take mere seconds. For mass adoption to take place, there has to be faster transaction times along with the ability to scale and maintain these times. And there are those who are concerned with the effects on the environment from all of the mining globally. The founders of Tolar HashNet decided to create solutions to solve these issues while maintaining all of the advantages of blockchain technology.

Tolar was inspired by hashgraph methodology and designed a new and efficient asynchronous distributed consensus protocol on a directed acyclic network structure. Tolar HashNet uses redundancy reduced gossip and virtual voting protocols that provide a fast, fair, and Byzantine fault tolerant consensus algorithm. HashNet belongs to a class of gossip-based protocols instead of structured-based group communication algorithms giving it advantages such as being able to handle larger group sizes, high user churns, sporadic sources, etc.

Tolar HashNet is fast, secure and scalable – solving the major shortcomings while keeping all of the positive characteristics of blockchain technology, and has an open-sourced cryptocurrency called Tolar. HashNet has increased throughput to more than 200,000 transactions per second and has a working demo with 150,000 tps on multiple nodes. HashNet uses Proof of Stake with masternodes eliminating the need for mining which greatly reduces energy consumption making it more cost-efficient and environmentally friendly. The founder’s vision is to be the global leader in Distributed Ledger Technology and become the preferred choice of individuals, companies, and governments worldwide.

Token

The Tolar (TOL) token is an open source, community-governed cryptocurrency. It will initially be deployed as an ERC20 token that will later be converted to mainnet tokens when the mainnet is released. The price of TOL is 1 ETH = 5,442.59 TOL for the public ICO. A total of 1 billion tokens will be generated with a hard cap of 57,000 ETH.

Token Allocation:

  • 35%  Token Sales
  • 32%  Tolar Development Fund
  • 8%   Proof of Stake Network Start Nodes
  • 20%  Founders
  • 2.5% Developers
  • 2.5% Advisors

There is no lock on main tokens, but a THREE-month lockup for bonus tokens and a 24-month lockup for team tokens. The max bonus was 20%.

Team

The founders have 30 years of business experience and are definitely not new to the blockchain technology space having developed the world’s first Blockchain MBA Program and Certified Blockchain Developer Program at COTRUGLI Business School, a leading business school in SE Europe. Twenty-four team members and 13 advisors are listed on their website including:

Drazen Kapusta – Principal/Founder at Tolar

  • 30 years of business experience as well as a major blockchain startup investor
  • Principal of COTRUGLI Business School
  • President of Blockchain Adria, the largest blockchain conference and association in the Adria region
  • Member of Enterprise Ethereum Alliance
  • President of the COTRUGLI Fund – organizes and leads major humanitarian projects
  • Founder of the COTRUGLI Business Museum

Zoran Dordevic – CEO at Tolar

  • Managing partner at COTRUGLI Business School

Josip Maricevic – Co-Founder and CTO at Tolar

  • Previous Blockchain core developer for Blocknet
  • Previous iOS Developer for Qnective AG

Terence Tse, Ph.D. – Foundation Member at Tolar

  • Associate Professor of Finance at ESCP Europe Business School
  • AI Company Founder & Entrepreneur
  • Keynote Speaker
  • Author

Lester Lim – Advisor

  • ICO Marketing & Token Strategy Advisor for Cardstack, HybridBlock, Dock.io, Ink Protocol, CoinFi and Banca

Verdict

Tolar HashNet is positioning itself to compete with the likes of Etherium and Neo as a platform for building ICOs and Hyperledger to offer superior DLT solutions for governments, towns, local communities and enterprises. With several VC investors on board and multiple crypto influencers recently promoting/reviewing Tolar, this ICO is definitely worth looking into.

Risks

  • Competition is fierce in this space with major players such as Ethereum, Neo, Icon, etc. -1.5
  • Partnerships will be crucial to the success of the project and none have been announced as of yet. -1

Growth Potential

  • While some ICO investors look to flip their investment immediately and move on the to next one, Tolar’s proof of stake with masternodes is attractive to long-term investors. +2
  • The Ethereum Virtual Machine (EVM) will be deployed on top of the network which will make for a fast and secure decentralized applications platform. +2.25
  • An ICO with an MVP is certainly more desirable than an ICO with nothing but a website and an idea. The Tolar Prototype reached 150,000 TPS on multiple nodes. You can view the video here+2.75
  • Tolar won Ian Balina’s ICO pitch competition during his Crypto World Tour in Budapest. This will obviously create hype and draw more attention to the project which typically translates to positive outcomes in the current ico market. Many Tolar ICO reviews have also been recently published. +3

Disposition

With a fairly large team, all-star advisors, an MVP, available masternodes, and a growing social media presence, Tolar is another blockchain project that has an excellent chance of doing well this year. Tolar receives a 7.5 out of 10 rating.

Investment Details

  • Symbol: TOL
  • Platform: Ethereum
  • Hard Cap: 57,000 ETH
  • Total Supply: 1,000,000,000 TOL
  • Private Sale Price: 1 ETH = 6,531.08 TOL
  • Pre-sale Price: 1 ETH = 5,986.84 TOL (minimum 10 ETH)
  • Public ICO Price: 1 ETH = 5,442.59 TOL
  • Public Sale: Scheduled for August
  • Jurisdictions barred from participation: USA, China

For more information regarding Tolar:

Website: https://www.tolar.io/
Telegram: https://t.me/TolarHashNET
Twitter: https://twitter.com/TolarHashNET
Facebook: https://www.facebook.com/TolarHashNET/
YouTube: https://www.youtube.com/channel/UCL8ksEpe6um71pcdPi6wpXQ
Medium: https://medium.com/@TolarHashNET

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
3 votes, average: 2.33 out of 53 votes, average: 2.33 out of 53 votes, average: 2.33 out of 53 votes, average: 2.33 out of 53 votes, average: 2.33 out of 5 (3 votes, average: 2.33 out of 5)
You need to be a registered member to rate this.
Loading...

4.6 stars on average, based on 46 rated postsKent Hamilton - ICO Analyst on Hacked and Founder of CryptoDayTrader.io - ICO Insider Info




Feedback or Requests?

Continue Reading

5 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending