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ICO Analysis: Gatcoin

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Blockchain has the potential to radically transform the merchant industry. This extends far beyond just accepting bitcoin and altcoins to include a system where merchants can actually issue their own digital tokens for use as discounts and other privileges.

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That’s the general concept behind Gatcoin, a blockchain-based shopping platform that transforms traditional discount coupons, gift cards and other promotions into tradable digital tokens. By joining the Gatcoin system, retailers can issue their own digital tokens to launch seamless discount and loyalty programs to a mass consumer audience. In the case of Gatcoin, this can be done in mere minutes via “targeted airdrop” technology that allows merchants to zero-in precise demographics.

As the company explains in its whitepaper, Gatcoin “seeks to create a controlled environment for enterprises to deploy digital tokens, thereby reducing traditional barriers to blockchain adoption faced by mainstream companies seeking to leverage blockchain innovation.”

The GAT System makes this process remarkably easy by allowing merchants to issue their own branded tokens, which are called Merchant Tokens. From there, these tokens can circulate on private consortia networks and be used to redeem tangible products and services from participating merchants.

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Customers can use GAT-inspired digital tokens to buy products and services, receive discounts or claim rewards. The Gatcoin system also allows tokens from multiple merchants to be stored in one mobile app for instant purchase. Unlike traditional coupons and gift cards, the tokens are tradable on major exchanges and deliver immediate value to customers, regardless of who issues them.

At the time of writing, Gatcoin’s developers have identified five uses for Merchant Tokens. They include:

  • Cash tokens, which are used as pre-paid cash
  • Discount tokens, which are used to subsidize the regular cash price of an item
  • Loyalty tokens, which are used to replace loyalty points
  • Gift tokens, which replace gift vouchers
  • Travel tokens, which are used as portable currency to spend globally

Beyond that, the Gatcoin ecosystem features five key components:

  • GAT Wallet: a mobile token wallet
  • GAT Marketplace: online market of participating retailers
  • GAT Exchange: a cryptocurrency exchange where members can trade Merchant Tokens against GAT Coin
  • GAT Network: private networks where Merchant Tokens are circulated
  • Targeted A-Drop Delivery System: a proprietary system that allows retailers to target specific consumer demographics within minutes

Gatcoin is no small project, and it isn’t just popping up out of nowhere, either. The company has a very strong business case, as it prepares to roll out services across 60,000 retail stores and 21 brands throughout Asia.

GAT Coin

In pursuit of its objectives, Gatcoin has launched an ERC20 token called GAT. It is the main cryptocurrency transacted on the GAT Exchange, which enables customers to trade and acquire Merchant Tokens. Consumers can use their GAT Coins to purchase Merchant Tokens or vice versa. The main differences between GAT coins and Merchant Tokens are outlined in the chart below.

GAT Coins Merchant Tokens
 Available during token raise  Not available during token raise
 Limited supply  Unlimited supply
 Will circulate on the Ethereum public   network  Will circulate on private GAT networks
 Freely transferable  Not available on Ethereum public   network
 Storable in all major wallets  Storable only in GAT wallet
May be exchanged for Merchant Token May be exchanged for GAT Coins

Gatcoin’s public pre-sale will launch Oct. 28 and last for one month. A total of 15 million GAT Coins will be available during the pre-sale at a rate of $0.20 US per unit. Investors who participate in it are eligible for a 20% bonus.

A total of 115 million tokens will be available during the public sale beginning Dec. 15 and lasting through Jan. 15, 2018.

Investors participating in the crowdsale receive their GAT Coins immediately upon purchase. GAT tokens are transferable upon conclusion of the public token sale in January.

The minimum funding goal for the project is $20 million USD, with a hard cap of $35,870,370.

The Team

Let’s just get this out of the way: Gatcoin’s team is nothing short of remarkable. We can literally spend pages talking about their skills and professional experience, but let’s just say the token project has managed to attract blockchain experts, Swiss bankers, professors, tech geniuses and cryptocurrency investors. A total of 16 people are part of the core team, according to the main website.

Simon Cheong is the main architect behind Gatcoin. As a blockchain entrepreneur and former World Bank lawyer, Cheong has an outstanding track record for a project of this nature. Other notable team members include Emeritus Professor Wei-Tek Tsai, marketing heavyweight Anthony Huang and tech entrepreneur James Kong.

Samson Lee, who is the co-founder of the Ethereum Organization for South China and South Asia, is also on the team. It should be noted that Ethereum founder Vitalik Buterin has endorsed the regional organization. Blockchain investor Ross Stokes and Swiss banker Michael Blake are also part of the project.

The technical team includes programmers, retail web developers, token program designers and graphic illustrators.

Verdict

When it comes to the world of retail, Gatcoin is a potential game changer, and falls under a narrow splice of ICOs that can bring real disruption to the market. The author would place it in a similar category as Spectre and Polkadot, albeit for entirely different reasons.

Risks

  • The company cites immaturity of the Ethereum network as a primary risk. This is not entirely unfounded, given the long-standing challenges facing Ethereum’s mainstream development. The Ethereum network has already been prone to significant processing delays due to extremely high volumes. It seems like Gatcoin’s success would exacerbate processing delays on the network, especially if mass adoption is achieved. To date, it is unclear how or if the Ethereum community can resolve these issues. -3
  • Although the author is a believer in the GAT protocol, and argues for its adoption below, a project of this nature relies heavily on mass adoption. While the conditions are certainly ripe for this to occur, retailer adoption rates are a huge unknown at the moment. -3
  • Gatcoin isn’t the only startup using blockchain technology to disrupt the consumer industry. The competition for merchant processing will only grow as the blockchain revolution intensified. -3

Growth Potential

  • When it comes to star studded lineups, only a few ICOs can compete with Gatcoin. It’s not just who they have on board, but the diverse cross-section of talent that is represented. Blockchain entrepreneurs, cryptocurrency investors, Ethereum champions and investment bankers make up a highly competitive team of people. +5 
  • If you haven’t noticed, traditional retail is struggling to stay alive. That means discounts, loyalty programs and other incentives are becoming more vital than ever to attract and retain customers. Gatcoin is in a position of strength to capitalize on this demand. If Groupon is a crude proxy for what Gatcoin can do, then the future looks very bright. +4
  • A-Drop is essentially real-time target marketing that allows retailers to narrow in on their ideal demographic within minutes. This technology, which is currently patent-pending, could be an extremely powerful draw for retailers. +3
  • From the perspective of consumer adoption, Gatcoin has a unique opportunity to consolidate loyalty programs all in one place. Token liquidity also gives consumers full utilization of shopping incentives. In other words, the author sees plenty of reasons for consumer adoption. +4

Disposition

Having considered all the above, we settle on a score of 7 out of 10 for Gatcoin. Since many ICO concepts are unproven, arriving at a score higher than this is often difficult to justify.

Make no mistake – Gatcoin is a potential game changer. Its success will depend largely on mass merchant adoption. The incentive is certainly there. Now it’s time to get the word out.

Investment Details

  • Type: Crowdsale
  • Symbol: GAT
  • Public Pre-Sale: Oct. 28 – Nov. 28, 2017
  • Opening Sale: Dec. 15, 2017 – Jan. 15, 2018
  • Platform: Ethereum (ETH)
  • Total Supply: 1 billion GAT
  • Future Distributions: 60% over three-year period (2018-2021)
  • Payments Accepted: Ethereum (ETH)

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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4.5 stars on average, based on 346 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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1 Comment

1 Comment

  1. Akinz11

    November 28, 2017 at 5:15 am

    Hi Sam.

    It seems GAT has not been able to get any funds in the private sale. How does this effect the rating of the coin/ICO?

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ICO

ICO Analysis: White Rabbit

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The creation of the internet enabled the potential for consumers to have a media paradise, where they could consume only the content they wanted, when they wanted, how they wanted.

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If that doesn’t sound like the way things actually shook out, you might be on to something.

The problems stopping this vast potential from being realized have been around in some form since the 1990s but they are only getting worse as traditional movie/television studios and networks dig their heads in the sand (while at the same time Netflix, Amazon, HBO, and their ilk bend the entire industry to their will (creating massive problems themselves in the process.)

The issues with the current approach both decades ago and today can be together summed up in five short statements.

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1. Media content is not convenient or cheap enough for consumers to consume it.
2. Consumers turn to pirating media content out of frustration with the status quo.
3. Businesses double down on these failed models which leads to continuously increased piracy rates.
4. Content creators make less and less money out of creating content.
5. The quality and range of available content head towards the gutter.

Rinse and repeat until the end of time.

But does it have to be this way?

White Rabbit thinks not.

White Rabbit is an ambitious proposal to solve all the issues of streaming media content once and for all using blockchain technology.

It attempts to do this first and foremost via a few unique methods.

1. A universal browser plugin that can recognize streaming media content regardless of where it is being streamed (including illicit p2p sites), and send rights holders a native cryptocurrency token (WRT) via smart contract in exchange for the legal ability of the consumer to stream the content wherever and whenever they desire.

2. The Rabbit Hole: A portal for high-quality versions of streamable content, extras, behind the scenes/deleted footage, fan and filmmaker interaction (via VR and other methods), and third-party content, personalized to the user.

3. White Rabbit approved partner streaming sites that will curate unique content and UI to form tailored streaming communities for consumers.

So how does all of this actually work in practice?

Once WRT is accepted by the CRH (content rights holder), it opens access for fans to the high-quality version of the film in the Rabbit Hole, plus all the extras, behind-the-scenes, deleted scenes, fan and filmmaker interactions and third-party innovation.

WRT can, of course, be used to access all of this additional content.

When a film or series is popular enough among fans, it will be difficult for CRHs to resist pulling all the collective tokens on offer (by entering into a smart contract with White Rabbit).

WRT basically enables users to gently nudge the CRH to join White Rabbit and give users access to their art and entertainment but on the fans’ own terms.

According to the white paper, the film industry should not demand fans to change their habits, but instead, adapt themselves to those habits.

White Rabbit believes that the collective power of their token holders will force this long overdue adaptation.

WRT thereby gives users the power and responsibility to prove their willingness to pay and show the industry that it´s a matter of access and convenience.

In fairness to White Rabbit, they do have some data on their side.

In their whitepaper, they cite British and Australian research that interviewed 10,000 illegal streamers.

The research showed that 60% of those interviewed were willing to pay if they had convenient access to content. These same streamers have also been proven to spend significantly more on content than those that do not stream illegally.

What this means is that they are not really pirates, but fans without enough access to content.

This suggests that it is not that content producers “can’t beat free” but rather that a majority of frustrated fans who don’t see a viable alternative in the current streaming environment pirate begrudgingly.

So what are the true benefits to all parties within the White Rabbit ecosystem?

For Fans & Consumers:

  • Freedom to stream on any P2P site: Paying directly to rights holders regardless of where the consumer is watching content.
  • Freedom to pay: P2P is legalized by guaranteeing payment for streaming with the White Rabbit Token (WRT).
  • Freedom to access more content, more artists, and more fan experiences in the Rabbit Hole: This brings consumers closer to the art, artists, and entertainment they love.

Producer:

  • Revolutionary business model: No longer necessary for producers to wait months and years to receive revenue for their content. Instead, they receive payment minutes after the fans pay.
  • Data: Access to all the non-personal consumer streaming data related to your film or series.
  • Control: Price and territory can be adjusted while content relevant steaming sites focus on targeting audiences interested in specific content.

Streaming Industry:

  • White Rabbit revenue shares with streaming sites that agree to their Partner Streaming Sites code of conduct.
  • Illegal streaming sites are encouraged to legalize by a rewarding revenue model (which will, in theory, lead to new legitimate players entering the market.)
  • This incentivizes innovation in UI, search and recommendations, improving the streaming experience and the creation of clear streaming brands, to the benefit of both fans and content creators.

Creatives:

  • Interaction: Talk to their fans directly in the Rabbit Hole. Tell the fans about them, their film and their upcoming projects.
  • Monetization: Offer additional content to the fans’ favorite film and series, Q&A´s, VR screenings and more.
  • Transparency: Receive what they’re due as user payments are written in the immutable blockchain ledger.

In short, The Rabbit Hole tears down the many barriers that keep fans apart today, ensuring fans and filmmakers are able to interact and transact such that revenue and engagement are maximized on all sides.

Today, producers, filmmakers, and their investors are not able to do this effectively because they are not maximizing the true potential of digital streaming. They are not in contact with their fans.

White Rabbit and the Rabbit Hole closes that gap.

Streaming media content is expensive, users have less choice than before, revenue for rightsholders is neither transparent nor reasonable, and White Rabbit argues that by not accepting users’ streaming habits, the industry itself encourages piracy.

Example of unique Rabbit Hole content experience:

1. A cult film with 20,000 fans in 50 different countries could hold a VR cinema screening in the Rabbit Hole with half a million fans from all over the world. Filmmakers and fans could interact live in the VR cinema, merchandise could be bought, and new fans could join.

What was once a niche film that was difficult to monetize due to geographical and regulatory barriers suddenly becomes a viable business model given open access.

White Rabbit by its very design does not seem to distinguish between the rising star and the established filmmakers.

The film itself, its resources within its own habitat, its ingenuity or cash, it´s fans and the campaign strategy of the film will make the difference between success and failure, not uneven control over distribution.

In White Rabbit’s vision of the future, success is no longer about who you know, it´s about what and how you deliver. It´s about innovation in communication as much as technology.

White Rabbit plan to create the Airbnb experience for the content streaming industry.

This, in theory, allows UI designers, branding and film buffs to create streaming sites catered to every and any taste.

Ultimately, producers can release content to specifically target their audience by way of streaming sites that match their content.

To Recap:

Challenge 1

Too few filmmakers make money from digital distribution. There is less choice of content as closed server subscription services produce more of their own and buy less.

Challenge 2

Revenue lacks transparency, accountability and quick transferrence to content creators.

Challenge 3

Fans are forced to break the law to see their favorite film or series because they can´t pay for content.

Challenge 4

There is less choice of content as closed server subscription services produce more of their own and buy less.

Challenge 5

The digital distribution paradox – a lack of competition in global digital distribution slows UI innovation. Yet, more subscription services mean more logins and passwords for users.

The White Rabbit ecosystem brings together users, content rights holders and creators, partner streaming sites, third-party developers and White Rabbit themselves.

By offering users a personalized content library — the Rabbit Hole — and a browser plugin, White Rabbit can fix the content issues plaguing the media industry once and for all.

The White Rabbit plugin recognizes the content being streamed enabling users to offer White Rabbit Tokens (WRT) as a guarantee for payment to content rights holders.

Each time a user streams content a smart contract deducts the tokens from the user’s account and transfers it to the rights holders.

If a smart contract does not exist, rights holders may enter into one and accept tokens or reject. If they reject, the tokens which are kept in an encrypted distribution pool are returned to the user, securing their anonymity.

The Rabbit Hole is user’s personal content library where they can access all the content they have paid for and enjoy exclusive materials, extras, director’s cuts, merchandise, and interviews.

In addition, the Rabbit Hole enables users to interact directly with the creators behind their favorite films, enjoy film screenings in VR together, and use other available third-party applications.

By separating distribution from payment, White Rabbit offers one payment system, but infinite viewing and fan experiences.

Token

The WRT token is the key that unlocks the entire White Rabbit platform.

When streaming their favorite films or series, smart contracts deduct a WRT payment from users and transfer this immediately to rights holders. Utilizing blockchain technology, rights holders are also ensured complete financial transparency.

The token distribution is as follows:

  • 40% Token sale
  • 31.5% White Rabbit Reserve
  • 16% Team (First 1/3 vested to the team after 6 months, second 1/3 vested after 12 months, final 1/3 vested after 18 months)
  • 6% Partners
  • 5% Advisory Board (vested After 6 months)
  • 1.5% Bounty Campaign

Tokens are allocated to:

1. CRH – the first time they accept tokens for content, a 10% bonus on aggregated tokens at time of smart contract commitment

2. Users – loyalty bonus, promotion bonus, allocating space for content, new incentives
Streaming sites – incentives and rewards for development and accomplishments

3. Third party applications in the Rabbit Hole rewards for development and accomplishments

4. Acquisition and Investment in content

Team

The White Rabbit team is absolutely phenomenal.

Not only is it a fairly large team, but each member brings highly specific and relevant experience to bear on the creation of the White Rabbit ecosystem.

Although I hesitate to throw the term “superstar” around, an argument can certainly be made that this team fits the bill.

Highlights of the team’s collective achievements:

  • Worked as producers and sales agents on over 800 films.
  • Won best film awards in Cannes and Venice, sold films to over 70 countries including best selling foreign film 2015 in the U.K. and Australia.
  • Software entrepreneurs behind Milbros Chemical Information System, the industry standard for the safe transportation of chemicals at sea, a $2.3 trillion dollar market. Installed onboard hundreds of chemical tankers and operations offices worldwide.

Team members previously developed security systems for submarines, telecom, and mobile phone industry

Verdict

White Rabbit is an incredibly ambitious attempt to fix the content streaming industry. They appeared to have thought deeply about the correct way to fix the problems and also to have drawn inspiration from other brilliant but flawed attempts such as Popcorn time.

Risks

  • Despite designing an incredibly well thought out platform, I don’t think the White Rabbit team has created strong enough incentives for consumers to actually download the plugin and begin to use White Rabbit.
  • Although users get an extra 5% token bonus for allowing their data to be monetized within the platform, that doesn’t strike me as a good enough sales pitch to get the average person to download this plugin and start paying content creators. -2.5
  • As White Rabbit themselves know well, content is king. You can create the most innovative platform, with the best features, the sleekest UI, and the perfect solution for rights holders, but if a consumer can’t watch their favorite show how and when they want to, the platform is worthless. Hulu is a perfect example of this.
  • The entire premise of White Rabbit is that a majority of people consuming pirated content are actually just frustrated fans who would be happy to pay for content legally if it was simply convenient and affordable for them to do so.
  • It was therefore incredibly puzzling that one of the terms they demanded of partnered streaming sites was to delete media content if rights holders didn’t want to participate and White Rabbit asked them to. Especially at the beginning, this could undermine White Rabbit’s entire purpose for existing and lead to users quitting the platform out of frustration.
  • Although ultimately this would still technically be the fault of the rights holder and entrenched industry players, I don’t see White Rabbit becoming the dominant force unless they are willing to break through the logjam and potentially face litigation from content holders early on. -3.5

Growth Potential

  • Incredibly low fixed token supply that should only increase in value as White Rabbit’s user base grows. +5.5
  • Incredibly reasonable solution to the current logjam that is streaming media.
  • Implemented intelligently, the incentives are aligned to allow consumers to pay for the content that they want, wherever and whenever they want to watch it.
  • This alone is a revolutionary breakthrough that blockchain technology enables that could radically change the entire industry. +6.5

Disposition

We arrive at a score of 6/10 for White Rabbit.

Although it appears to be a project with immense potential, a fantastic team, and favorable token economics, the sheer difficulty of the problems they are trying to solve adds a degree of risk to an otherwise stellar project.

But to quote the whitepaper, “When an entire generation breaks the law, it shouldn´t be a crime, it should be a business opportunity” -Alan R. Milligan, White Rabbit founder

Investment Details

  • Token Type: ERC20
  • Platform: Ethereum
  • Symbol: WRT
  • Token Price: 1 WRT = 0.13 USD
  • Token Supply: 190,000,000 Total Supply
  • Soft Cap: US$ 2,000,000
  • Hard Cap: US$ 10,000,000
  • Pre-Sale: May 7th, 2018-May 14th, 2018.
  • Public Sale: May 15th, 2018-June 10th, 2018
  • Jurisdictions Barred From Participating: USA, Canada
  • Website: https://whiterabbit.one
  • Whitepaper: https://whiterabbit.one/docs/White_Rabbit-White_Paper_v1.0.pdf

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: DAOstack

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Despite the hype, there are not many fully functional decentralized applications yet. Developers are finding it extremely challenging to create the DAO framework needed to run all aspects of the DAPP. They don’t yet have all the tools necessary to organize the specifics of governance into smart contracts.

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A DAO, or Decentralized Autonomous Organization, is a network of peers that encode their protocols into the blockchain, and make collaborative decisions by voting through smart contracts.

The team at DAOstack is developing the tools and infrastructure needed to become the “sandbox” for all DAOs to operate from.

DAOstack will be a platform from which DAOs can build and create their own token on. The technology is very detailed and complicated. Josh Zemel (communication guy) did an excellent job of simplifying the stack here.

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ARC: The base layer of the stack, is a library of smart contracts on the Ethereum blockchain, each of which represents functional elements that can be mixed, matched and modified to create the complete governance protocol for any given DAO

The ArcHives: a set of shared registries designed to enhance interoperability among the DAOs and Dapps. Any new tool, all offers and requests, and any new DAO will all have their own registry.

Arc.js: a JavaScript library that allows devs to easily build apps on top of Arc without being familiar with Solidity or the blockchain. With Arc.js, any organization or industry has the option of creating a custom interface suitable for its own use cases. DAOstack envisions ultimately hundreds or thousands of such Dapps deployed on Arc.js.

Dapps Layer: This is where organization members will interact with the DAO through the Dapps.

Alchemy: The first App on the stack. It will be a tool to help DAOs budget and allocate resources. With Alchemy, anyone will be able to create a DAO in a few clicks and create an ERC20 crypto-token if desired. There’s also a prediction market function, that will help organizations prioritize important proposals. The future roadmap for Alchemy includes greater customizability, integration with other popular collaboration tools, mobile support, and bounty systems.

Holographic Consensus: A process where small groups can make decisions on behalf of the larger majority, in an incorrupt way. To avoid plutocracy in the DAOstack, the process will separate token ownership and voting power into two different currencies.

  • The token-a transferable token that is a form of monetary wealth, called GEN.
  • Voting power — it refers to as reputation. Reputation cannot be directly transferred from peer to peer, but rather is distributed by the passing of proposals, or by the adoption of protocols that result in reputation being transferred automatically. For example, there might be a protocol through which reputation is distributed for positively reviewed work.

Genesis DAO:  The first DAO created using the DAOstack. Its mission will be to advance the DAOstack project and ecosystem, and it will be investing in proposals, such as; a) The further build out of components of the DAO stack, including Arc and Arc.js. b) Support for/investments in collaborative applications (dApps) to be integrated into the DAO stack. c) Support for/investments in organizations built on the DAO stack.

Anyone can create proposals or stake GEN for or against the boosting of proposals. However, in order to be able to vote on proposals, some reputation within the Genesis DAO will be required.

“Eventually, the Genesis DAO will be responsible for allocating the majority of the funds expected to be generated by the GEN token sale. Funds will be transferred to the DAO gradually over time as it demonstrates increasing stability and security. The Genesis DAO will also eventually hold the ability to mint additional GEN tokens after the initial sale.”

Token

GEN is the native token of the DAOstack platform. Its main use is to vote on or promote proposals within the ecosystem. It will be distributed to contributors of value through the DAOstack framework itself, incentivizing development, promotion and adoption.

Paying for votes would be a plutocracy; therefore, you can’t buy voting power with GEN and you cant vote with it either. You can participate in a prediction market like system, where you stake for or against a proposal that influences whether or not it rises into the collective attention of the voters, the reputation holders. If you stake for proposals that the reputation holders pass, you get rewarded with more GEN. If you stake for a proposal that fails, you lose your GEN. And vice versa if you stake against proposals.

Other uses for GEN will come to fruition in the future as the stack evolves. GEN will be the primary currency for the build-out of the DAOstack ecosystem itself, with contributors to the platform rewarded in GEN, and investments into projects that are built on the stack tendered in GEN , according to the collective will of the Genesis DAO.

Below are the project vitals:

  • Total Supply: 100 million (60 million circulating 40 million mintable in the future)
  • Hard Cap: $30 million
  • Presale: 10% bonus May 1, 2018, at 4:00 am GMT
  • Public Sale: May 8, 2018, at 4:00 a.m. GMT https://daostack.io/

The distribution is as follows:

  • 40% crowdsale
  • 40% mintable in the future
  • 10% team/advisers
  • 10% future token sale

In terms of allocation, 33% ($10 million) will go to development, 68% goes to Genesis DAO, a decentralized fund in which anyone can create proposals, according to its governance protocol. Funds will be transferred to the Genesis DAO by the DAOstack non-profit gradually as it demonstrates stability and security. The Genesis DAO will serve to advance the DAOstack project and ecosystem and will be investing primarily in proposals related to:

  1. the extension of the components of the DAO stack
  2. collaborative applications (Dapps) and interfaces that will integrate with the DAO stack
  3. support for/investments in organizations built on the DAO stack

Team

After studying each of the 15 available team members’ LinkedIn accounts, they receive a better than average rank but nothing terrific. Here are a few highlights.

CEO Matan Field has a  PhD in physics and is leading expert in decentralized governance. He has given numerous interviews and two TED talks. You can listen to his most recent AMA here.

CTO Adam Levi has a  PhD in physics, as well as 22 years of programming experience. He was a teacher’s assistant at Technion, Israel Institute of Technology from 2013-2017.

In terms of marketing and communications, Josh Zemel is the guy. He designed and executed major growth initiatives for Equifax, Blue Cross Blue Shield and Toyota. He was also a VP at IMM, a digital agency.

COO Yehonatan Goldman’s profile is below:

 

Verdict

There is quite a bit of hype around this project. Their telegram is over 10,00 people deep, due to a “refer a friend” promotion they are running that pays GEM for referrals.

DAOs could be huge in the future as the use cases are endless. Dapps using DAOstack to run their own token sale on, as well as develop their voting protocols and infrastructure, is a beautiful idea.

Risks

  • This team is trying to build things that have never been built before. It seems like they may lack the talent to do this at the moment. There is no MVP currently available. -1
  • DAOstack is conducting a private sale, accepting advance token purchases in values of at least USD $100,000 in ETH equivalent. We are not sure how much bonus they get, as it is private. -1
  • The CEO, Matan Field, founded a project called backfeed, in 2015. Backfeed was almost the exact same project as DAOstack (only without the token), but it failed in early 2016. When asked about this, Mr. Field explained that he had taken too much on himself as at some point he was effectively the CEO, CTO, chief scientist and chief product. Besides, in his words, the project lacked focus overall. While this seems like a giant red flag, he’s right. It is a massive project to take on, and he does have a strong looking team now that he didn’t have back then. This is possibly a red flag. -1
  • Matan Field (CEO) and Oren Sokolowsky (lead dev) built an app back in 2014 called La-zooz. The app was a failure. The La-zooz website tried to do a token sale in January, 2017. This could be a huge red flag. -2

When I asked the Telegram mods about this, I was given a link to an April 5th lazooz tweet. Make of this what you will.

Growth Potential

  • The platform will include a friendly JavaScript developer environment, a modular smart contract framework and an intuitive user interface that even non-tech people can use. +1
  • The potential of DAOs are limitless. It could be that, within a few years, DAOs are everywhere. Thousands of DAOs could be on this platform. +4
  • The Genesis DAO will be responsible for allocating nearly 2/3 of the funds raised from the token sale. GEN holders will decide which projects on the DAOstack to support and which new DAPPS to fund to integrate with DAOstack. Also, in the future Genesis DAO will have the ability to mint the remaining 40% of the GEN tokens. +1
  • There are already three solid projects working on DAOstack. One can only imagine how many more there could be. Sapien is a social news network, Menlo is a platform for decentralized funding of blockchain projects, and Cultu.re is a worldwide P2P identity and contracts system to parallel those of nations and states. +2
  • It’s hard to imagine GEN holders and reputation owning voters don’t make proposals in the future for new DAOs that want to build on the stack to pay a fee or ship airdrops to Gen holders. +2.5

Disposition

Tons of potential with this one. 5.5/10 is our final score.

Investment Details

*There will be a minimum purchase requirement of 1 ETH for both the presale and the main token sale.

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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4.1 stars on average, based on 10 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

ICO Analysis: HighIoT

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Fifth generation networks are just around the corner, and guess what? They’re all using IoT (Internet Of Things) as their basis.

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IoT, which started as a conceptual form for the networks of the future, is now more alive than ever and that is only the beginning. Future applications, blockchain-powered or not, are going to be integrated within various IoT networks in order to function, distribute data and even perform autonomous payments.

There are thousands of different use-cases where IoT plays a major role, affecting dramatically various industrial sectors, including but not limited to public transportation, housing, monetary and banking institutions, governmental organizations, informatics and telecommunications.

One of the most advanced sectors when it comes to IoT adoption is smart housing, with the number of smart homes expected to reach over 500 million households by 2020, according to Gartner Research.

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From smart TVs, lighting, kitchens and IoT washing machines to smart sensors that can detect and store data regarding temperature, air condition, oxygen pollution, humidity and more, smart homes will be able to act completely autonomously in the near future.

We can be sure about how IoT and smart housing would take over the global market, but there are things we are not ready to face, as IoT networks are not commercially as popular as the internet or electricity itself yet. Therefore, threats such as malware or other hacker attacks will have a high impact on the first systems running IoT networks and smart applications.

To address this issue, a blockchain-powered start-up called HighIoT is one step ahead, working on a security protocol specially tailored to protect IoT networks from external attackers. More specifically, HighIoT focuses on protecting the networks supporting smart homes, smart offices and smart cities.

HighIoT’s main product is Akita, a hardware and instant plug-in privacy device that is connected to a LAN port on the user’s router. Once Akita is connected to your home network, it scans for possible threats or malware and notifies the user. Akita is compatible with most IoT devices and applications and it has its own mobile app to control its services. The device has 0 impacts on your network’s internal and external connection speed.

One of the most interesting concepts surrounding Akita is its connectivity with HighIoT’s own blockchain-powered network, HighIoT Cloud, from where Akita could be modified and patched by the HighIoT team and HighIoT community developers in order to establish pre-designed connections, interference patterns and complex algorithmic communication between the IoT devices in your house.

For example, if you want your IoT washing machine to notify you at work when it’s done, you can ask the HighIoT community to patch your Akita device to be able to extract this intel from your smart washing machine and deliver it to your smart hand-held device.

At the same time, if your Akita devices discovers a problem within your network, you can browse HighIoT’s Database and purchase immediate solutions or even a community worker to help you with your issue.

Token

Like most blockchain-powered platforms, HighIoT uses its own utility token in order to perform transactions within their network.

HIT, HighIoT’s native currency, is an ERC-20 token that can be used to purchase intelligence, problem-solving solutions, guidance, technical support and other services through the HighIoT Network’s Cloud, an open source database where both the HighIoT team and community developers can participate with ideas and possible solutions to IoT networking problems.

At the same time, you can always swap your HITs for ETH or other major cryptocurrencies and seek an exit in fiat or any other altcoin.

The total token supply is set to 10,000,000,000 HIT. One HIT will be equal to $0.01 and the ICO caps are set to $5,000,000, and $100,000,000 respectively for soft and hard cap limits.

The 10 billion HIT tokens will be distributed as follows:

  • 25% Public ICO Sale
  • 48% Long-term development fund
  • 15% Team
  • 12% Advisors, Bounty, Referrals, Partners

Team

Eran Yarom (CEO & Co-Founder) has over a dozen years of experience in video security solutions for telecommunication companies and service providers.

Igor Rabinovich (CTO & Co-Founder) has more than 18 years of experience in software development and research and Development sector. He has a been also working on large scale systems for operators and C4I systems.

Raz Alon (cyber security adviser & Co-Founder) is an angel investor for more than 20 years on numerous different companies. He focuses on a variety of different sectors including information technology, enterprise software and online media industries among others.

Prof. Simon Litsyn (adviser), who researches on coding and information theory, completed his Ph.D. in Tel Aviv and right now is a cyber security technology specialist.

Other honorable mentions of the team include Igor Ryabenkiy (chairman & Co-Founder), who founded a significant number ofinvestment projects on Internet start-ups and IT companies, Ken Baylor (adviser), who is a recognized leader and cybersecurity specialist, Stas Oskin (adviser), a core developer and Itay Yanovski (adviser), a professional with many years of experience in various security settings.

Overall, the group looks very promising with specialists for every position and many people who have been in security industries for long enough to know the inside and outs of their business.

Verdict

We can be sure about IoT and 5g networks taking over the global tech industry in the near future, and that is obviously good for technological advancement, but we must consider possible security risks of this new, yet volatile, network.

HighIoT’s project is one of the first to apply distributed ledger technology to IoT, which means it can play a major role in what’s to come.

The same thing happened with bitcoin when people realized it could become the future of peer-to-peer transactions. Today we can be certain that IoT networks are not just a thing of the future, but a functioning protocol, already in action – HighIoT focuses on what’s after IoT and not on promoting IoT itself.

Risks

From an investor’s perspective, the following facts are important to consider when weighing HighIoT:

  • While IoT is a standard aspect of the future, it might take us some time before we have IoT networks spread across the world, covering every corner that has a power supply and internet connection. HighIoT will need even more time to be used on a commercial scale as it depends on the post IoT era. -1
  • The idea that HighIoT’s community can help you build your own personalized IoT network and applications is fascinating, but we should not forget that IoT data is still personal data, stored, distributed and used in many ways by the company behind the IoT software/hardware. Having your IoT data in a centralized database can create an identical profile of yourself based on your behavior, where the provider of the service could recognize and understand patterns of yourself, not even you do. –1.5
  • 10,000,000,000 token units is not your ordinary blockchain number. According to CoinMarketCap.com, there are only a couple of tokens using a 10 digit supply, with KIN having identically 10,000,000,000 as well. While KIN, Dentacoin and others’ price per unit is several digits below a single cent, HIT’s initial price per unit is set to $0.01 which is pretty expensive for a platform with such a big total supply. -3

Growth Opportunity

  • On the other hand, what HighIoT strives to achieve is quite interesting and definitely a well-thought project. IoT networks will need modern and special security protocols and HighIoT is already here to provide it. +3
  • HighIoT has the opportunity to possess one of the most professional teams in the scene with military, governmental and banking pre-history, all specialized in cyber security and cutting-edge networking. +3.5
  • Some of the most successful ICOs last year achieved their goals by having a physical product. First and second generation blockchain platforms would offer you literally “thin air” in exchange for your funds and while sometimes that would work just as fine as an investment, but in other cases, it could lead to what happened with BitConnect. HighIoT not only has a fancy project, but it’s actually functioning perfectly to help you build your own IoT network at home. +3
  • HighIoT was present before the blockchain hype as an New York start-up that raised almost $1 million on Kickstarter. HighIoT creates a global cyber security database using blockchain technology for a multi-billion IoT market that’s already “on the wheel”. +2.5

Disposition

The fact that HighIoT focuses on one specific sector of the upcoming fourth industrial revolution is a sign of professionalism and passion combined.

That of course, means that HighIoT is highly influenced by the IoT market in general, and it completely relies its products and services on the prosperity of that market.

HighIoT is one of the first 3D generation blockchain platforms that focus on altering physical reality as we know it, instead of focusing on short commercial profit.

A score of 6.5 out of 10 is reserved for HighIoT, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: HIT
  • Platform: Ethereum
  • Pre-Sale: To be announced
  • Public Sale: To be announced
  • Payments Accepted: ETH, BTC, USD, EUR (KYC Required)

A HighIoT representative stated to Hacked.com that the private/corporate sale is finishing soon and public pre-sale and main sale dates will be announced soon. 

You can follow HighIoT for updates below:

 Official Website

White Paper

Disclaimer: The writer has no position in HighIoT at the time of writing.

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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