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ICO Analysis: InsureX

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There are worse things in life than death. Have you ever spent an evening with an insurance salesman?

– Woody Allen

The great American healthcare debate has put health and other forms of insurance in the spotlight for going on a decade now. While many western democracies have socialized forms of health insurance, America’s are paltry by comparison, and the marketplace here is mostly privatized. In much of the rest of the world, other forms of insurance are still private. Collectively, according to multiple sources, all insurance generates more than 5% of all the economic activity in the world.

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London, a historical hub of many types of markets, is where InsureX would like to establish the global insurance mercantile exchange – for companies, brokers, traders, and investors. The concept does not require too much explanation: use Blockchain technology to enable faster, more accurate, more secure, and fairer acquisition and sale of insurance products. InsureX says they are deeply embedded in the global insurance industry, and we will investigate that more under the Team category of this analysis, but their best self-description emerges in the following paragraph:

InsureX offers a disruptive environment which will be beneficial to the currently outdated insurance sector. Participants in this marketplace are able to transact business in a highly efficient, secure and consistent manner with easy access to historical data and valuable market insight. The InsureX platform uses blockchain technology to streamline the process between buyers and sellers of insurance products. Not only does it provide a place to find and trade insurance, but a platform to manage the downstream processes related to programs, policies, premiums and claims.

Who InsureX Is Targeting

The InsureX marketplace is primarily for institutions such as insurers, reinsurers and brokers. Bringing these participants together directly results in an efficient, cost-effective and transparent marketplace.

Thus, for most of our readers, the token itself will not be overly useful beyond a speculative instrument. The details of the token become much more important when most of the people who might buy said token will never use it for its intended purpose. We’ll get to that momentarily, but let’s discuss the type of revenue that such trades can generate:

  • The average cost of an auto insurance plan in the US in 2014 was over $700 per annum. The United States contains almost as many registered vehicles as it does human beings, and most states require some form of insurance on all of them. If InsureX were to be used for even a fraction of these plans – brokers used the platform to sell more competitive products, improving the quality while cutting the cost – the revenues would be vast.

That is just one regional market in one type of insurance. Nearly anything that generates or costs money in the world has an insurance salesman eyeballing it – this situation will not change as the world moves into more digital forms of commerce, but rather will increase. A platform like InsureX sure has a lot of potential to serve the up and coming legions of insurance salespeople.

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Blockchain Meets Insurance

In the push to blockchain the world, many have neglected to realize that there are plenty of purposes where a simple database is sufficient. Most financial purposes would not fall under this category in a neutral debate, because allowing any party to casually make changes to a ledger is a fundamental risk. Therefore InsureX’s decision to utilize blockchain technology is entirely valid for this project, and moreover, the insurance industry itself has long been interested in the technology.

According to the Deloitte Consultancy, blockchain implications can go even deeper than mere registering and trading of insurance products. It could also imply secondary and tertiary marketplaces for things like claims adjustment.

Adopting a common blockchain across the sector could create a step-change in value in the insurance industry: claims-handling could become more efficient and streamlined, resulting in an improved customer experience. Such an approach could also help to reduce further, if not entirely prevent, fraud if identity management was also enforced on the blockchain – meaning that criminals could no longer crash for cash, or exploit the current challenges of sharing data unless their methods for obscuring identities became significantly more sophisticated.

InsureX Team

Is it possible that InsureX could become the so-called “common blockchain” for the insurance sector? Well, for what it’s worth, they do have Ross Campbell advising them. Campbell is the chief underwriter of Gen Re, a US-based insurance provider. He has been with Gen Re since 1995, and in the position as overall chief underwriter and head of research/development since 2010. This is to say he has held a powerful position at a sizable (1200+ employees) insurance firm for most of the rise and rise of cryptocurrencies. The insights and connections Campbell will have developed over a long career are perhaps the most valuable attribute so far for the InsureX platform itself, because, after all, like many of these “industry-wide” efforts, there is always a risk that the biggest players in a given industry will simply hijack the idea and implement it in a way that derives them an even more consolidated position.

Campbell recently wrote on the subject of insurance and technology and can be quoted as saying:

Deciding how best to handle issues around data privacy is among the industry’s key questions. Some people will not wish their personalized data to be put in the hands of insurers making decisions about policies, while others will want their data to be used to drive down insurance costs.

This statement brings to mind the notion that blockchain can serve in other capacities than the transferrance of plans and sales thereof – it can also secure the records of individual companies, and InsureX could act as a place that such products were also bought and sold.

Campbell’s involvement also lends an immediate aspect of realism to the InsureX project – it seems evident that once the platform is working, Gen Re will be interested in making use of it.

CEO and founder Ingemar Svensson has a reasonably long career in financial technology. He previously was “responsible for defining the technology strategy and executing an extensive change programme across the organisation.” A simultaneous effort of Svensson’s is called Finserve, and like InsureX, they are looking to apply the blockchain to an industry. The obvious and contemporaneous split in focus could be concerning for potential investors.

COO Christina Dolan, member of the Forbes Tech Council and 2016 recipient of MIT’s Harold E. Lobdell Distinguished Service Award. Over the past few years she has shown an increasing interest in blockchain technology, having taken part in last year’s IBM hackathon. She can be seen here giving a talk on the potential of the Bitcoin market:

In short, she knows her stuff, so putting her in charge of operations is a good move.

Lead Ethereum Developer Nicolas Cherence public information is limited, as are his coding chops. “He holds a master’s degree in statistical and financial engineering from Paris IX Dauphine University” and claims to have worked on financial applications before. Luckily Ethereum work is easily outsourced, so for the most part we can overlook this potential hiring mistake.

Lead user experience developer Charlotte Holmen has already proven some of her competency, having previously worked at Doctify and presumably being responsible for the following screenshots:

InsureX Token

The IXT token will be necessary for use on the InsureX platform, and it has a guaranteed deflation rate in two ways: 1) there is hard cap of ___ tokens and 2) each time the InsureX platform derives a fee from activity in the marketplace, a portion of that is forever destroyed. As a result, the value of outstanding tokens on the markets increases with the decreased supply. An example where someone might spend IXT is if one participant wanted to find someone to fill a quote he had given on an insurance deal. Others in the marketplace looking for such opportunities would be notified, and they would then be able to create a fee-generating transaction, while the fee to list the quote in the first place is already captured – meanwhile IXT itself can be used to make deals on the platform.

It’s important not to get too lost in the details – the basic idea is that you will make money if insurers actually use this platform or decide to horde the token, if you are a holder of the token at time of launch. There will likely be competing plays in this space, but the odds are high that the experienced professionals behind InsureX will know how to leverage their first mover advantage.

  • A maximum of 133M coins will be created, 100M of which are to be generated during this crowdsale, with a maximum of 83 778 Eth being raised.
  • Inflation is outside of the smart contract, so not happening.

The Verdict

This is a hot one. InsureX has done almost nothing to lose points.

Risks

The major risk is a potentially slow adoption rate or adoption being split among several competing platforms. As a speculator, IXT’s value will depend very heavily on how much it is used and needed. As such we have to caution against the acquisition of large IXT bags, however dipping a toe into the water could buy several pairs of shoes.

Growth Potential

The growth of the insurance industry will fly in tandem with the growth of the blockchain industry. Technology is enabling new forms of economic activity the world over, and all of these will eventually have insurance products tailored to them. As such, the growth of this platform, if initially successful on even a small scale, is tied to the growth of human marketplaces and population – exponential.

Disposition

A hard 7.0 out of 10, based on everything above. This figure could see serious deductions if performance/timelines become an issue and competing interests push InsureX off the table. As such, despite the high numeric rating, we encourage caution except for those already directly involved in the insurance industry, as those people can consider any losses as part of attempts at innovation in their business.

Investment Details

Open now and about 25% funded at time of writing. If you really want in, you had better get over to Insurex.co now and make your contribution. The rate at time of writing was still over 1000 per Ether. Full disclosure: this author is hoping his Ethereum wallet syncs before the end of the sale.

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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5 stars on average, based on 2 rated postsP. H. Madore has covered the cryptocurrency beat over the course of hundreds of articles for Hacked's sister site, CryptoCoinsNews, as well as some of her competitors. He is a major contributing developer to the Woodcoin project, and has made technical contributions on a number of other cryptocurrency projects. In spare time, he recently began a more personalized, weekly newsletter at http://ico.phm.link




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5 Comments

  1. magicnipples

    July 11, 2017 at 10:51 pm

    thank you for the this review

  2. bananatrue

    July 12, 2017 at 1:02 am

    This ICO had a HUGE problem with security and community management: a week ago I helped Eric from TokenMarket (who’s actually the community manager on Slack) since they had some bad security settings on Slack channel. Their Slack community is also on fire because of another security issue that allowed scammers to post on Twitter on behalf of InsureX team just one day before crowdsale went live.

    That’s a good thing anyway IMO: crowdsale is still open and I was able to contribute, since this helped to slow down FOMO. Thanks for your great review

  3. benb

    July 12, 2017 at 12:34 pm

    Did I miss some regulation? US citizens aren’t allowed to buy into this coin either? Seems that way for every ICO I’ve tried. Try to buy in, and a message comes up that people from the USA can’t contribute.

  4. muellerro

    July 13, 2017 at 3:31 pm

    Any chance you can look at Indorse’ ICO?
    Is that somehow promising?

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ICO

ICO Analysis: Loyakk

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Due to their inability to securely and efficiently share data with their business partners, enterprises are losing billions of dollars. Data leakage, contract disputes, and limited visibility across business networks is forcing future enterprises to look to blockchain for solutions.

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Loyakk, a blockchain-enabled platform for decentralized business networks, transforms how companies collaborate and share data with partners, distributors, channels and suppliers across the world by extending the blockchain with patent-pending extensions to support enterprise requirements. They also have a patent-pending business platform that enables secure, permissioned sharing of data and value movement through smart contracts with business rules and security policies leading to improved security, efficiency and distributed governance.

When asked On Telegram to explain the project to a 12 year old, CEO and Co-Founder Salim Ali provided this nugget:

“If I were to explain to a 12-year old, I would use a simple metaphor: why send mail by postal service, when you can send via FedEx or UPS which offers tracking, incremental security and more. So think of Loyakk as FedEx++ for business communication built on blockchain which will make email and other systems seem like postal services from a past era.”

Loyakk’s Vega Enterprise Relationship Platform is being built on Ethereum with an element of Quorum and proprietary patent-pending extensions. They will use a variant of BFT Consensus.

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The basis for the platform is their in-house token LYK, which protects AND tracks critical business data across business networks.

Token

“The Loyakk token is a data container required for all interactions across all Loyakk-powered private business networks. The LYK token carries data, enables critical functions that manage multiple levels of permissions, and controls the propagation of data amongst the participants in the business network while providing full auditibility across company boundaries.”

There’s a lot going on with this token. To learn all the technical specifics, check out CMO Rakesh Sreekumar’s breakdown here.

The Loyakk network interactions are essentially a set of micro-services and each invocation of the micro-service requires a token.

The network draws its value from the number of data interchanges occurring on the platform. These data interchanges are what will increase the value of the business network and help businesses that use the network grow by bringing to bear the collective power of their relationships into their transaction. The objective is to power all inter-company interactions via the Loyakk token.

Loyakk will mint an ERC20-compliant token that will be made available to users and businesses.

 

The use of funds is outlined below:

  • 45% Product and development
  • 20% Operations
  • 15% Marketing
  • 10% Sales/customer adoption
  • 10% Legal and admin

Team

Based in Silicon Valley and ICO’ing in London, the core team of eight check out clean, and actually seem organized and capable of accomplishing their goals.

Salim Ali: CEO and Founder. He was the Global Vice President, Marketing at SAP where he conceived and scaled multiple new businesses with revenue KPIs of $1.2 billion, and jump-started SAP’s Digital Business with the SAP App Store. Salim has given a couple interviews on YouTube – he’s confirmed professional.

Jitu Telang: BTO and Co-Founder. He served as Senior Software Engineer at Pavilion from 1995-99, Trilogy from 2000-04 and then got into high-frequency trading in securities and futures markets all over the world until founding Loyakk.

Tsvetan Georgiev: Technical Architect/Lead Developer. He looks like the mastermind that spent 15+ years at SAP working his way up to leadership positions.

Loyakk has a team advisers that includes the CIO of Nissan, former CIO of McAfee and two SAP higher-ups. There are three blockchain advisers with plenty of experience in the space.

Verdict

Current communication channels between enterprise partnerships lack security, transparency and efficiency. The problem is they are forced to email each other all the time. Loyakk wants to give them a better system by adding blockchain to the business application stack. The enterprise will leverage the potency and power of the blockchain to do fundamentally different things that they couldn’t do up to this point. Their platform is patent pending (which is something you don’t hear often in this space) and will be able to evolve to changes in the technology.  It is meant to cover both intra-Ethereum and cross-chain.

Risks

  • Token reconciliation and settlement will be done in 8-12 weeks after the conclusion of the token open sale event. With the event ending in July, that means tokens won’t be trading until October. -2
  • A $45 million hard cap is on the higher side. -2
  • The token doesn’t have many ways to bleed value to holders. No master nodes or token burning going on. The token must gain its value purely from demand to use the platform.-2

Growth Potential

  • They already have several partnerships. After briefly exploring into each of them, it looks like there are some very legit partnerships mostly to help Loyakk build its infrastructure. +4
  • Many of the core team members played big roles in the past for SAP, which is very popular worldwide; it is used to coordinate all the resources, information and activities needed to complete enterprise-wide information systems billing, including accounting and finance. It was also learned in an interview with the CEO that Loyakk will officially partner with SAP. +4
  • Enterprise Security Magazine names Loyakk a ‘Top 10 Blockchain Solution Vendor -2018’. +2
  • The team looks really strong, as evidenced by this reply from the CEO when asked about his MVP: “We have V1 built (with approx 400K+ lines of code) and deployed by customers. V2 with Vega Blockchain aspects is being designed and built. Blockchain patents have been filed, token def published on github, relationship modeller showcased via demo video, and broader demo is almost done. As per Roadmap, Vega will be ready in Q3/Q4 timeframe”. +3

Disposition

This is one of those projects with unlimited upside, and a seemingly high floor since being partnered with SAP pretty much guarantees they are around for years to come. 7/10

Investment Details

  • Symbol: LYK
  • Platform: Ethereum
  • Current Release: 177,000.000 (177m)
  • Token Sale: 60,000,000 (60m)
  • Price: around $0.60 before bonus
  • Private Sale: Now open
  • Pre-Sale: June 7
  • Public Sale: June 15- July22
  • Hard cap: $45 million
  • Whitelist: https://loyakk.io/loyakk-ico-whitelist/
  • Website: https://loyakk.io/
  • Telegram: https://t.me/loyakk

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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4.1 stars on average, based on 17 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: Mandala

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MDX cryptocurrency exchange

With the increasing popularity of cryptocurrencies comes a growing demand for exchanges where the various cryptocurrencies can be traded. And although cryptocurrency exchanges have seen huge growth during the past couple of years, it’s still not showing any signs of slowing down.

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We now have a large selection of both traditional centralized and newer decentralized crypto exchanges to choose from. Some of these exchanges accept trading between national (“fiat”) currencies and cryptocurrencies, while most only allow for trading between cryptocurrencies.

Mandala is a planned cryptocurrency and blockchain asset exchange that distinguishes itself from other established exchanges by being focused primarily on simplicity and user-friendliness for people who are new to trading and investing.

According to the company, people who are new to investing makes up the majority of current and future cryptocurrency investors. Mandala is therefore aiming to be the gateway for these people into the cryptocurrency universe, in a similar way to the purpose Coinbase has served over the past few years.

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The Mandala team argues that as more and more big companies announce that they are exploring blockchain initiatives, the public will become more comfortable with the technology and more and more people will want to invest in cryptocurrencies. This will in turn lead to an exponentially growing flow of money into the crypto space, which translates into more business for crypto exchanges of all types.

MDX user interface

The most obvious problem when it comes to the Mandala ICO is the lack of any minimum viable product (MVP) or prototype. According to the roadmap on the website, the beta release of the exchange is scheduled for the third quarter of 2018, which is well after the start of the public token sale, which is set to begin on June 1.

It is also still unclear if Mandala will be a crypto-only exchange or if fiat currencies will also be accepted. The company writes on its website that they “hope” to be able to accept fiat currencies for trading “as the laws and compliance regulations allow.” In other words, we don’t know if fiat will eventually be accepted for trading on the Mandala exchange. However, given the strict regulatory requirements of most jurisdictions, and the fact that Mandala as of yet is not regulated by anybody, we have to assume that fiat trading will not be available in the foreseeable future.

In addition to the exchange itself, the team also plans to add a backtesting tool to let users easily test the reliability of technical trading indicators like the MACD or Moving Averages. It should be mentioned that this is something that is very difficult to create as an accurate and reliable tool. It is something for example TradingView has worked on for years, and even their solution is far from easy to use for beginners. With that said, IF the company manages to pull this off successfully, it would be a huge plus for the platform as a whole.

Token

The Cayman Islands-based company Mandala Holdings, LLC is issuing a utility token called MDX on the Ethereum blockchain.

The MDX token is intended to be used to pay for trading fees and commissions, and also as a currency to pay for purchases on the built-in marketplace that the team is planning to set up within the Mandala platform.

Similar to many other exchanges, users who pay their trading fees with the MDX token will receive significant discounts.

Approximately two thirds of the tokens will be available for sale, while the remaining tokens will be distributed as follows:

  • Team – 20%
  • Company reserve – 10%
  • Advisors, influencers and bounty – 5%

MDX token distribution

The current pre-ICO price of the MDX token is $0.07 + 25% bonus. During the first stage of the public token sale, the price will be $0.06 before it rises to $0.07.

Team

The first thing I always do when research an ICO team is to check the LinkedIn profiles of the key team members. This is a really simple way to check their level of commitment to the company launching the ICO, and very often I find the same result: Most of the team members haven’t even listed the company on their LinkedIn.

In the case of Mandala, the two co-founders have both listed the company as their employer. The Chief Marketing Officer, on the other hand, has no mention of Mandala on his personal profile.

The Chief Technical Officer, Zach Daniels, lists Mandala as one of six current employers on LinkedIn, which makes us seriously question his level of commitment to the company.

The CEO and co-founder of Mandala is Nate Flanders. Nate has a diverse background as founder of a blockchain-based online casino and a phone repair company in Florida. According to his LinkedIn profile, Nate is still working as Vice President of Operations at the online casino while he is setting up Mandala.

The other co-founder and CSO of Mandala is Chicago man Anant Handa. Just like the CEO, Anant also has a background in the phone repair business, and he remains CEO of ReVamp Electronics. In addition, Anant also remains an advisor to BitWatch.io, an app that helps crypto traders manage their trading activities and portfolios.

All in all, the two co-founders both have entrepreneurial experience and first-hand experience with blockchain technology, which is undoubtedly a positive for Mandala.

Verdict

The main problem when it comes to the Mandala ICO is clearly the lack of any prototype or MVP to demonstrate that the team is capable of building the platform they describe in the white paper. It should be clear for everyone that investing in an ICO that has nothing more than a website and a white paper is a very risky venture.

Regulations also pose a question mark when it comes to this ICO. It is unclear if the platform will be able to accept fiat currencies at this point, and we frankly don’t know if they will be able to obtain any regulatory approvals at all.

What we do know is that the company says they are “thoroughly researching and studying all applicable laws and will be be properly registered with the appropriate governing bodies, including the SEC and the CFTC[…]”

Unfortunately, the white paper that the team has prepared also appears somewhat generic and lacks details on how the platform will work.

Growth Potential

  • With the increasing popularity of cryptocurrencies comes an increase in demand for exchanges. Simplistic exchanges that are targeting new traders and investors certainly have a place in this space. +3
  • If the team can build user-friendly and reliable tools for backtesting of technical indicators and trading signals, that would be a big plus and could provide a boost for the platform as a whole. +4
  • The two co-founders have previous experience with blockchain projects, and the overall team appears competent, although we do have questions regarding the level of commitment from certain team members. +3

Risks

  • Generic-looking white paper with very few technical details on how the platform will work. A lot of general commentary about cryptocurrencies and blockchain, as well as visions and ideas for the coming Mandala exchange. -2
  • No minimum viable product (MVP). According to the roadmap, the beta release of the platform is scheduled for Q3 2018, with the full platform expected by the end of the year. Investing in ICOs with no MVP should always be considered high-risk. -4
  • The press releases published by the company, as well as the white paper, talks a lot about all the regulatory approvals that the team is planning to get, but lacks any details on what they have already acquired. -2 

Disposition

In summary, we believe that the idea of a simplistic exchange for new crypto traders is good, and we do think there will be a growing demand for this type of exchanges. The success of Coinbase clearly shows that this is something that can work very well if carried out in the right way.

Unfortunately, we cannot recommend investing in an ICO without an MVP, without knowing if the platform will accept fiat, without any regulatory approvals, and with a very general white paper without technical details.

Overall, we arrive at a score of 2 out of 10 for the Mandala ICO.

Investment details

  • Token Type: Utility
  • Platform: Ethereum ERC20
  • Symbol: MDX
  • Pre-ICO: Ongoing until May 31, 2018
  • Public ICO: Starting June 1, 2018
  • Token Supply: 400 million
  • Tokens Available for Sale: 260 million (65%)
  • Soft cap: $3 million
  • Hard cap: $18 million
  • Price: Pre-sale: $0.07 + 25% bonus, crowd sale: $0.06-$0.07
  • Minimum investment: 0.10 ETH/0.01 BTC/0.5 LTC
  • Payments Accepted: ETH, BTC, LTC
  • Jurisdictions Barred from Participating: USA

More information:

Website: https://mandalaex.com/

White paper: https://mandalaex.com/wp-content/uploads/mandala-whitepaper.pdf

Telegram: https://t.me/mandalaex

Featured image from Pixabay.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term trading. The author has no investment in Mandala at the time of writing.

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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4.3 stars on average, based on 32 rated postsFredrik Vold is an entrepreneur, financial writer, and technical analysis enthusiast. He has been working and traveling in Asia for several years, and is currently based out of Beijing, China. He closely follows stocks, forex and cryptocurrencies, and is always looking for the next great alternative investment opportunity.




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ICO Analysis: Verasity (VRA)

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Verasity is a video-sharing platform that caters to content creators and rewards viewers with VERA tokens just for watching content, sharing videos, watching ads and for referrals. Over the past few years, brands have shifted their advertising model to allow influencers to share products with their audience. This gives products a much more personal touch and translates to better conversions.

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Verasity will provide a way for viewers to help support their favorite channels by the use of VeraSparks. VeraSparks is a smart contract that allows viewers to buy and own a portion of a channel, and be rewarded with profits especially in future growth.

How is Verasity different than the competition in this field? Verasity is the only platform combining the following: Decentralized Proprietary Blockchain, Proof of View (PoV) – patent pending, Watch and Earn, Centralized Video Distribution, VeraSparks and the Spark Marketplace, and multiple ways for creators and users to earn VERA tokens. Just one of Veracity’s features, Proof of View (PoV), will help solve the problem of fake reviews that affect creators and advertisers.

Token

The VERA token is an ERC-20 token used as a payment method between brands and creators directly ensuring that brand placements are verified through Verasity’s Proof of View technology. Not only do brands now have direct access to content creators, but advertisers have the opportunity to reward viewers. Views are recorded on the blockchain so that validating viewer interaction is easily auditable. Proof of View is Verasity’s Patent Pending (*US and international patent pending, application number 62627285) system that provides more accurate audience metrics than traditional methods.

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Team

The list of team members and advisers on their website is quite extensive compared to the majority of ICOs. The team and advisers are showing commitment to the project with team tokens locked for 18 months and advisor tokens locked for 9 months. A few team members include: 

David Orman – CEO & Co-Founder

  • Founding Partner – Hatch-House
  • Founder – Namro Ventures Ltd
  • Advisor – Carabiner Partners
  • Formerly VP of Joost

David Rowe – Co-Founder

  • CEO – Black Green Capital
  • Founder – Hydro66
  • Founder – Easynet Group
  • Former Managing Board Member – Sky

Chris Gale – Co-Founder

  • Founder & CEO – Odyssey Mobile
  • Founder – TouchTab
  • Former CEO – Level Up Media Ltd
  • Crypto Investor & Blockchain Advisor

Adam Simmons – Co-Founder

  • Former VP Marketing – Level Up Media Ltd
  • Owner – Madals TV

Advisers include: 

Dr. Christian Jaag – Advisor

  • Founder – Cryptoeconomics
  • Managing Partner – Swiss Economics
  • Lecturer – Universities of St. Galen and Zurich

Matt Heiman – Advisor

  • Founder – Diagonal View
  • Founder – Mobix Trading
  • Founding Investor – Just Giving
  • Adviser – Channel 4, Visimo, The Cloud, Palringo

Jin Young Choi – Verasity Ambassador for Asia

  • CEO – Bitbank
  • CEO – Woorim Holdings
  • CEO – East Nine Company Ltd
  • CEO – Vision Group Company Ltd
  • Permanent CEO – D!conomy LAB
  • Executive Commissioner of World Franchise Council
  • Former Mayor of Namon City

Joel Kovshoff – Advisor

  • Founder and CEO – MyICOPool
  • Founder and CEO – Athena Trading Bot
  • Blockchain Advisor and Educator
  • A complete list of team members and advisors can be found at verasity.io.

Verdict

Verasity will use blockchain technology to finally have a transparent and reliable solution to the many problems facing the video sharing industry. Some of the key features of Verasity’s blockchain technologies are: Verasity High-Performance Blockchain, VERA Transactions, Proof of View (patent pending) and DPoS. All of the videos run off of VeraPlayer, which is a blockchain enabled video player that allows users to view content securely from many mobile and desktop devices without the need to install additional software. Verasity has partnered with Akamai, a leading global content distribution network. This enables Verasity to deliver over 8 PetaBytes of video data per month, allowing them to scale quickly. If Verasity continues to deliver on the benchmarks outlined on their roadmap, they could quickly become a major player in this highly competitive field.

Risks

  • Although Verasity is unique with their own blockchain and PoV, it still has competition such as Steem, Basic Attention Token, Props, and Flixxo. -1.25
  • The hard cap is on the high side at 6,245,750,000 VRA which equates to over $46M USD. -1.5

Growth Potential

  • Verasity has a large and experienced team along with top-notch advisers that are capable of building and scaling the company successfully. +4
  • Having multiple ways to earn for creators and viewers has the potential to grow at a fast pace while their partnership with Akamai will allow for scalability. Basic Attention Token may use Verasity as its default video player. +3.5
  • Hype and community are important to create exposure for ICOs. Verasity has over 41k telegram members, 10k Twitter followers, and 237k Facebook followers. +2.5

Disposition

Blockchain platforms are in high demand right now. Verasity is no exception. With internet traffic being worth $312 billion by 2021, online video is set to account for 82% of all traffic. Company giants such as Facebook and Google generated $191 billion in advertising revenue in 2017. Personal data has become the new commodity and Verasity aims to reward creators and content publishers. Verasity is 100% SICOP compliant (Sustainable ICOs Protocol) which defines rules and methodology to determine whether ICOs are secure, follow good practices and ethical rules. Verasity is one of the few ICOs that is completely compliant. In an ICO atmosphere riddled with scams, this gives Verasity a head start. Due to the enormous potential as a successful first mover and the fact that they have followed very strict rules to be ethically compliant, Verasity receives a rating of 7.25 out of 10.

Investment Details

  • Symbol: VRA
  • Price: 1 VRA = 0.0075 USD increases by 1% per 24 hours during sale
  • MVP/Prototype: Available
  • Platform: Ethereum
  • Payments Accepted: ETH, BTC
  • Total Token Supply: 12,491,500,000
  • Hard Cap: 6,245,750,000 VRA
  • Min Purchase: 10,000 VRA
  • Restricted Areas: USA (Accredited only), Cayman Islands, North Korea, Somalia, Yemen

Learn more about Verasity:
Website
Whitepaper
Token Sale Info

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