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ICO Analysis: Internet of Coins

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There is an ongoing crowdsale of the “Internet of Coins (IoC).” IoC is one of the competitors in this budding space of networking various blockchains mentioned in our last ICO Analysis, regarding Cosmos.

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IoC differs from Cosmos significantly. For starters, while Cosmos uses hubs and zones to interconnect assets, IoC uses a somewhat novel concept of “hybrid assets” to interlink coins. According to IoC themselves, they have been at work on the project for two years prior to launching the crowdsale, whereas Cosmos has not actually done any of the work on the Cosmos part of the Cosmos project. IoC aims to take the most direct approach to usability, by stating plainly:

Existing wallets need no changes or adaptations to allow their blockchains and value systems to be hooked into this autonomous decentralized network.

It seems that IoC’s fundamental goal is the ability for all cryptocurrencies to be able to speak to each other on a peer-to-peer basis without the need of middlemen. The only reasonable way to achieve this at present is to conduct a trade through a cryptocurrency exchange. Atomic Cross Chain trading/transfers are a concept that have existed since not long after alternatives to Bitcoin started springing up. The concept is that, without the requirement of a third-party middleman, coins on different blockchains can be transferred between wallets on different blockchains.

Decentralization is as important to the Internet of Coins as it is to most Bitcoiners. They state clearly that they are working toward allowing alternative cryptocurrencies and established ones to autonomously connect to the network. The way this is done is through the establishment of “hybrid assets” on the network. It is explicitly clear that nothing about the coins themselves will have to chain. Adapters will have to made for a few of the bigger ones, and then their forks will have an easy time of making such adapters work. This means that this project has a high potential of achieving its technical goal in a relatively short amount of time, since nearly all cryptocurrencies share the Satoshi codebase.

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Who Is Behind It

Joachim de Koning is the founder of the IoC, with Robert de Groot as co-founder. A number of others are also involved, including a financial consultant and a blockchain expert. Koning has a couple of known successes under his belt, including his still-primary duties to Metasync, a sort of general purpose cryptography and security services firm. He is also the inventor of the NetAidKit, a USB powered device which provides network security for both wired and wireless connections.

The two primary developers, Amadeus de Koning and Steffen Hoffmann have previously worked in the sphere, with de Koning’s development efforts still aimed at Metasync. Hoffman has worked on a Python-based client for Monero, which is not a Satoshi-based coin, as well as several other projects over several years. In short, it appears the development team, plus some hired help, are likely to have this project well in hand if given the greenlight.

How Hybrid Assets Work

According to the IoC whitepaper, hybrid assets are to be issued across blockchains involved in a transaction. Tradeable assets on the Internet of Coins can have inherent value by either destroying coins from other chains or providing proof of stake in a given blockchain, to whit:

The asset may gain a form of inherent value if its issuer decides to prove the asset’s contextual value by either proof-of-burn or proof-of-stake. Asset holders on the hybrid network have either issued the asset themselves, or have obtained it on a decentralized asset exchange. Our proposed network daemon (hybridd) ’glues’ cryptoassets and coins together by passing around datasets or tables – utilizing a FIFO (first-in-first-out) blockstream for sharing and verifying data – that contain identification information about each invidual blockchain-based asset, and rulesets that govern their relationship to form a hybrid asset.

What this is meant to amount to in practice is that upon entering the IoC, a trader first creates (or acquires) an asset that is agnostic of the blockchain he intends to use, and then has the option to assign it an inherent value. Then he can proceed to seamlessly trade it for other assets on the IoC. When another person takes the trade, the coins are transferred to them on the other chain. Like Cosmos, this gets a bit complex if you are not a blockchain architect like the authors of the whitepaper.

The IoC blockchain itself is based on proof-of-allocation, and its biggest job is to maintain a running ledger/table of such allocations already made. Proof-of-allocation involves a type of escrow in the form of nodes which “have allocated a certain amount of assets or coins to be used for interblockchain transactions.”

These nodes work by processing the information of the trade and swapping private/public keys, thereby creating multi-signature transaction keys for the movement initiator to then use as access keys to the funds in question. The code for a hybrid asset already exists, and is available here.

Where The Rubber Meets The Road

So far, peer-to-peer trading already has a number of analog methods that aptly do the job outlined here, but they are not efficient, nor instant, and still rely on the third-party in the form of a third-party holding the escrow. Thus, there must be something gluing all this together. This is covered in the white paper as well, describing a meta server that can unite most or all cryptocurrencies at the highest possible level – and at this highest possible level, it becomes ever more feasible to integrate with the legacy financial system.

IoC also takes privacy concerns seriously, and intends to integrate various obfuscated communications networks such as Tor from the outset while also sending the data itself encrypted. Part of the reason for this move is that, while governments have been struggling to regulate the exchanges, they will be even more interested in regulating a technology that will eliminate the need for third-party exchanges/middlemen. By making it incredibly difficult (maybe impossible) to successfully identify the parties in a trade over IoC, IoC could take all of cryptocurrency to the next level by making it that much more invincible to government intervention.

As earlier mentioned, IoC has within nodes that allocate funds on the network. These nodes are incentivized by receiving a .1-.2% fee of the transfer – almost unnoticeable to the trader, especially by comparison to current methods, not to mention network fees that occur during traditional trading. Unlike Cosmos, allocators do not own a currency-agnostic token, but rather a hybrid token representing exactly the value they are capable of moving. A more specific value vehicle, rather than a general purpose one to feed the network.

Knowing all of this, it’s time for brass tacks. The crowdsale is for a multi-blockchain asset called the Hybrid. Hybrids are purchaseable in the following ways: Bitcoin, Ethereum, CounterParty, NXT Platform, New Economy Movement, Waves Platform, and Bitshares. The current cost is around $1.50 each. These assets can be traded like any others on those networks. Each network will be issued a million tokens, but 100,000 will be doled out over the first three years of the project to the investors. This is an incentive for them to propel the platform forward, so that their hybrids are worth more. They won’t be available except through the crowdsale, however, until launch.

The funds raised will go toward the development of the IoC. The team has an extremely clear roadmap:

That they are directly selling the tokens in order to fund exchange, and being upfront about that, rather than simply skimming them off the top while selling the rest as well, is also a much healthier sign than we see in some other crowdsale models.

You can get in on the crowdsale here. At time of writing, a single bitcoin would still purchase 941 hybrids. The price does, however, go up incrementally over time.

With such a clear plan, experienced team, and the like, it’s impossible not to recommend IoC as a good play. Out of 10, with Apple in 2006 being 10, we can safely give IoC a 5.6 compared to Cosmos’ 4.8. It seems that due to the ongoing revenue of Metasync and NetAidKit, Joachim de Koning could keep the project in motion even if the crowdsale fell flat on its face.

The same warnings still apply regarding the budding market, however. It would be unwise, if you’re looking to move into blockchain 2.0 investments, to only put eggs into the basket of IoC. Rather, you should continue researching and smartly invest in several of the options that are coming to fruition. If you feel as strongly as this writer does after some research that this thing is going to take off, then perhaps make a bigger bet than others. We must keep in mind that with each new idea and new contender, previous ideas will be integrated and new ones developed, to the point of possibly creating a better mousetrap than even the Internet of Coins.

You have until June 21st to make a decision. If you decide to wait until then, you will pay up to $2 per hybrid. There’s not a lot of difference in trying to recover $1.50 and $2, so take your time in doing your own research before making a play here.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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2 Comments

2 Comments

  1. [email protected]

    April 15, 2017 at 3:26 am

    Good article PH. Would you consider this to be a blocknet competitor? I love Arkansas btw… great state for outdoors

    • P. H. Madore

      April 16, 2017 at 12:45 am

      Hi,

      I would say it has more range and potential than Blocknet, on cursory review. The specificity of the coins Blocknet wants to integrate is not very impressive. I suppose they are competitors, but ultimately I wouldn’t make a bet on Blocknet for this play. Personally.

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ICO

ICO Analysis: Sharpe Capital

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Sharpe Capital is primarily an investment company whose core product is creating multiple approaches to understanding the market dynamics of both equities and blockchain assets. The multiple approaches to understanding market dynamics include sentiment analysis, quantitative trading, machine learning, AI and linguistic analysis.

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Analysts at existing hedge funds/investment funds rely on quantitative and fundamental trading models where the value of an asset is tied to its micro and macroeconomic performance. Analysts hope that the trading value of the asset will converge on its “intrinsic value” over time and earn them returns on undervalued assets. Intrinsic value is the value that the analysts calculate based on various economic indicators. Readers familiar with investment analysis will understand these concepts with ease.

However, generating returns based on the calculated search of intrinsic values of undervalued assets is not so easy. Investor sentiment plays a huge role in asset valuation resulting in asset prices consistently diverging from their intrinsic values. For example, Tesla has higher market capitalization than Ford, but does it deserve that high a valuation? In my opinion, no! But investor sentiment is very positive towards Tesla, resulting in its higher market cap.

So, how do you gauge investor sentiment? This is where Sharpe Capital comes in.

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From the perspective of a user who visits Sharpe Capital for the first time, the platform pays Ether for his views on a particular asset. The user is given recent updates about the assets and his opinion is asked. A user’s opinion carries weight based on his previous responses (a reputation system) and the amount of SHP token holding. The payouts on correct opinion will be given accordingly. Opinions of hundreds of thousands of users are evaluated to gauge the overall sentiment about the asset.

Sharpe Capital’s investment analysis methodology is not just sentiment analysis, but also takes into consideration a host of factors like fundamental analysis (macro, micro indicators), linguistic analysis (sentiments, emotions, contextual framing from blogs, twitter feeds, etc.), and machine learning (continuous learning from past experiences).

Sharpe Capital will feed this information into its proprietary investment fund, whose returns will be distributed among all token holders.

The data generated from sentiment analysis and the linguistic analysis will be sold to buyers like investment funds and researchers.

Sharpe Capital is also creating internal auditing tools and enterprise-grade blockchain solutions for hedge funds and corporate clients for transparency and accountability.

Token

The SHP token will serve several functions on Sharpe Capital’s platform. The SHP tokens will give access to the users to earn rewards in ether by voting on bullish versus bearish sentiment of an asset on the Sharpe Capital sentiment platform.

Hedge funds and institutional investors will be able to access information within Sharpe Capital’s Quantitative Trading Model through SHP fees. SHP tokens will help holders participate in governance for Sharpe Capital.

Looking ahead, as regulatory clarity emerges, Sharpe Capital will issue SCDs (Sharpe Crypto Derivatives), a cryptocurrency token that will be tied to the firm’s proprietary investment fund. Holders of SCDs will be entitled to receive dividends from the proprietary fund.

SCDs will have bi-annual Ethereum payouts and will be distributed 1:1 with SHP at a later date.

The ICO began on 13th November and will last until 5th February 2018. The minimum contribution will be $100. The SHP token is valued at 2000 SHPs for 1 ETH. For each 2,000 SHP issued, an additional 2,000 SHP will be held in reserve for future fundraising and an additional 1,000 will be distributed to Sharpe Capital founders and community members for coming platform development for a total distribution of 5,000 SHP for 1 ETH. There is a hard cap of $20 mn for the raise.

40% of the funds raised will be used for the investment fund, while 20% for development and operations.

The bonus structure begins only after $1,500 contributions. You can check out the details here.

Team

According to the company, “The Sharpe Capital team is comprised of a diverse group of experts across the fields of quantitative modeling, financial engineering, linguistic analysis, international law & regulatory requirements.”

There are five members of the core team. Chief Investment Officer James Butler has a Ph.D. in complex system modeling and is responsible for overseeing the development of the Sharpe Capital Investment Platform. This platform was conceived by Butler in collaboration with CEO Lewis M. Barber.

The development of novel approaches to linguistic analysis is supported by leading linguist and anthropologist Mieke Vandenbroucke Ph.D., a Fulbright Scholar and Visiting Researcher at the University of California, Berkeley who is also one of the advisers. There are five other advisers, prominent among them being Dimitri Chupryna, who is the co-founder of TaaS. TaaS will be used for extensive testing of the investment platform.

The team appears solid, with advisers from varied background. One aspect which I personally find somewhat negative is that most of the members, especially the ones developing the investment platform, belong to an academic background rather than one rooted in investment banking. I think this factor is quite relevant for this industry.

Verdict

Let me begin with how well the Whitepaper is written. The team has thought through the project well, with a detailed explanation of the Sharpe Investment Platform. Discussing the technicalities is beyond the scope of this review, but interested readers can go through the document for more information.

That being said, it is quite difficult to judge the quality of an Investment Platform or methodology without historical returns or a product version. The alpha will launch on 12th December with focus on the sentiment analysis part.

Cindicator can be considered the closest competitor, who have been working on the project since November 2014. They have an alpha version and are developing the product from insights coming in from a very active community. Sharpe Capital has some advantages in terms of product quality like the inclusion of linguistic analysis, governance; but then what is stopping a well-funded platform like Cindicator from including these in its product.
Of course, there is space for multiple competing companies, but a segment like sentiment analysis will hold value for only if the platform has thousands of users voting on the platform.

Risks

  • Sentiment analysis will not hold much value if Sharpe Capital is not able to attract enough users. Also, would hedge funds or investment funds find value in sentiments of retail speculators? -2
  • Along with Cindicator, many other companies are working on the same domain. -2
  • The investment analysis methodology although thoroughly developed is purely academic at this moment. -1
  • There are concerns whether the AI based portfolio manager can generate returns, especially in the crypto space where there is so much flux. -1

Growth Potential

  • The product is better than the competitors at this moment. +4
  • Rewards for prediction without the loss of stake is a massive incentive for users to participate on the platform. +3
  • The alpha version will be launching soon on 12th December. The alpha version launch will be a big credibility boost for the project. +2
  • Once the regulatory approvals for SCD tokens are obtained, Sharpe Capital can expand to other dividend based funds. +0.5
  • There will be demand for the enterprise-grade blockchain solutions for hedge funds and corporate clients once regulations demanding more transparency start getting hold. +1

Disposition

We arrive at a score of +4.5 out of 10 for Sharpe Capital. The score can improve +2 points depending on the reception of the alpha version once it launches on the 12th of December.

Investment Details

The ICO began on 13th November. Non-accredited US residents, Chinese and Singapore residents are restricted from the sale. You can participate in the ICO here.

Disclaimer: Writer does not hold an investment position in Sharpe Capital. 

Featured image courtesy of Shutterstock.

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ICO Update: Chimaera

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Online gaming and entertainment is a multi-trillion-dollar industry that is expected to grow manifold as developers push the boundaries with virtual reality, massively multiplayer online (MMO) and real-time strategy. Data crunched by Statista show that the global media and entertainment industry was valued at $1.72 trillion U.S. in 2015 – a figure that is expected to climb to $2.14 trillion by 2020.

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Naturally, any ICO that enters this space is expected to generate lots of attention. Chimaera (CHI) is certainly no different.

The Chimaera blockchain aims to provide a platform for developers to build futuristic games that leverage the latest advances in gaming technology. It does so by democratizing game development and allowing developers to issue their own cryptocurrency that can be traded for the CHI token.

From the perspective of gamers, Chimaera promises decentralized game worlds with 100% uptime and fair play rules.

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One of the main issues Chimaera aims to solve is that of scaling – namely, bringing to life massive game worlds with their comprehensive inventory of virtual assets. The company says it is overcoming these issues with “Trustless Off-chain Scaling for games (Game Channels) and Ephemeral Timestamps.” This essentially means games can be created on the blockchain without the need for a third party.

Token

Chimaera is a massive undertaking, and one that seeks to create novel infrastructure for the gaming community. To realize the vision, the company has issued a two-phase token sale (pre and public). Funds raised through the token sale will be allocated to the following:

  • Development, operational costs and legal: 33%
  • Marketing: 33%
  • Game developer on-boarding: 33%

The CHI utility token fuels the entire ecosystem and serves as the reserve currency of the Chimaera platform, including:

  • Account creation
  • Account transactions
  • Purchasing game
  • Renting game
  • CHI-powered crowdraises
  • Coin transactions

Chimaera will also enable a Token Exchange Period, which will allow users to exchange bitcoin for CHI tokens. Tokens can be redeemed once the genesis block is mined.

Team

The project is backed by one of the most experienced teams in the blockchain gaming industry. This includes CEO Andrew Colosimo, who has over 20 years of experience in IT and computer gaming . He is the founder of the Huntercoin experiment, which achieved the world’s first decentralized MMO game. When it comes to track records in the gaming industry, very few compare with Colosimo.

His team includes a stable of theoretical mathematicians, game developers, software engineers and business leaders. Andrew Gore is also on the team (he’s the guy who co-founded Soccer Manager, which has over 20 million downloads)

Overall, Chimaera’s core team consists of 13 people. It also retains the services of an advisory board made up of four experts in the field of blockchain technology.

Verdict

Chimaera certainly makes a compelling case for blockchain-based gaming. The promise of a fully decentralized, autonomous gaming platform backed by one of the brightest teams in the industry give the project a unique advantage in a nascent market with very few comparables.

Risks

  • Like any project of this stature, implementation and market buy-in is always an issue worth considering. The Chimaera whitepaper does a great job of setting the scene for a decentralized autonomous universe, but building a system that attracts both developers and gamers may prove tricky. In this vein, it’s worth asking if Chimaera is looking to adopt a similar model as Steam, a digital distribution platform for multiplayer gaming. To be fair, the whitepaper does include a detailed discussion about ecosystem, growth and revenue. Still, the author sees this one as a higher risk venture when compared to other ICOs in infrastructure or gaming. -2
  • Although the whitepaper identifies a detailed roadmap, there is no specific end date specified for the token sale. Additionally, there is no mention of how much was raised during the pre-sale or how much has accrued since the official launch. This isn’t necessarily a “con,” but it may echo some of the concerns mentioned in the first bullet point about buy-in. -2

Growth Opportunity

  • When it comes to growth opportunity, very few projects promise near infinite scalability. Chimaera makes it abundantly clear that this is the objective. It also details a precise way for reaching it (i.e., through Game Channels). +2
  • When it comes to project experience, Chimaera’s staff takes the cake. The brains behind this project successfully delivered the Huntercoin experiment, which reached a market cap of $6.3 million earlier this year. Chimaera’s CEO is not only the creator of Huntercoin, but a member of the Namecoin team. +4
  • Although adoption risks are plenty (as with any project of this nature), Chimaera provides gamers themselves with a unique value add. In addition to immersive game worlds, the platform offers a complete gaming universe. This is a strong value proposition for a project that requires buy-in on both sides of the aisle (gamers and developers). +2
  • One of the most unique aspects of Chimaera is the ability for developers to crowdfund their own projects with ICOs. This makes the Chimaera ecosystem truly multi-faceted with the promise of future growth. +2

Disposition

Chimaera is a highly ambitious project that actually promises something new for the gaming industry. If the project’s potential becomes actualized, we may be looking at a major draw for all segments of the gaming community. That being said, implementation could prove daunting given all the market participants that would need to be involved to make Chimaera a success. Against this backdrop, we give the crowdraise a score of 6 out of 10.

Investment Details

  • Type: Crowdsale
  • Symbol: CHI
  • Opening Sale: Oct. 23, 2017
  • Duration: TBD
  • Platform: Custom
  • Tokens Available: 1,100,000,000 CHI (plus unsold presale tokens)
  • Payments Accepted: BTC

Disclaimer: No position in Chimaera or other ICOs at the time of writing.

Featured Image courtesy of Shutterstock. 

 

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ICO Analysis: Pundi X

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Despite being the game-changing tech that it is, recent research shows less than .01% of the world owns cryptocurrency. This number is way lower in countries with mostly bankless populations. Pundi explains, There are 2 reasons crypto has yet to enter the mainstream:

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  1. Too complicated: Researching different exchanges, private keys, passwords, learning what it all means… people don’t have the time or patience to deal with this.
  2. Not relevant. Right now, basically the only thing you can buy with crypto, is more crypto. People need to be able to spend their crypto on real life things such as coffee, and a sandwich.

Pundi X is a Proof of Sale (POS) device that connects to the blockchain using Xplugins. Starting in Indonesia, these devices will be distributed to retail stores, convenient stores, and cafes. The device allows people to use their Pundi card to buy or sell cryptocurrency, as well as the goods/services that store offers. Buy anything in the store, then buy or sell bitcoin/other cryptos almost instantly!

Here’s a demo of how the device works.

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If all works to plan, PundiX will incentivize store owners by giving them a free POS device and allowing them to keep most of the fees. Customers will journey into a store that has PundiX. They will pay for crypto, and in return, get a fancy card with no private keys to worry about.  The card is then used at any location that uses Pundi. Any purchase of goods/services with your Pundi card allows rebates.

  • Black Card ( Ranked 1 – 50); 5% discount for 10 years;
  • Diamond Card ( Ranked 51 – 150); 5% discount for 5 years;
  • Platinum card ( Ranked 151 – 300); 5% discount for 3 years;
  • Gold card ( Ranked > 300; Contributed > 10 ETH); 5% discount for 1 year.

The Token

PXS  is a utility token within the Pundi ecosystem. Its used by developers and sellers to pay gas fees in order to sell their crypto and other goods, in convenience stores, cafes, and shops. Any company or customer that wants to access the ecosystem will have to pay a transaction fee in PXS. These PXS fees are then burned by the smart contract, lowering the total supply.

PXS is a proof of stake (POS) token for the first 3 years of its existence. Each month holders will be awarded PXS airdrops.

Year 1 = 40% extra tokens, year 2 = 20% extra, and year 3 = 10% extra.

The presale is already over. The token price was 650PXS/eth. They raised around $4 million.

The ICO starts Nov 20th, and will start at 575 PXS/eth.

Pundi X is trying to raise over $80 million during the ICO. That is A LOT of money. The reason it’s so much is they are using the money to build the POS devices which they are giving out for free to retail stores, as an incentive, in and around Indonesia. Depending on the amount they raise

Important to note: “If this ICO does not generate 35,000,000 PXS tokens in sales, the company reserves the right to use the remaining tokens for a second ICO. The token price for any second ICO would be greater than in this round, and the current token holders would also be rewarded. The management reserves the right to terminate this ICO and, if this decision is taken, all ETH invested will be returned to the original investors. ”

The Team

The Pundi X team is already 30 people deep, 15 of them (operations) are in Jakarta, Indonesia and the other 15 (R&D) located in Shen Zhen, China. They also already have a very large list of backers/advisors.

It looks like a very talented team, a few members that stood out during my research are:

  • Constantin Papadimitriou (Kiki) is their President Advisor Kiki has 17 years’ experience as Founder and CEO of two of the biggest Fintech companies in Indonesia – Infinetworks and E2Pay.
  • Zac Cheah,  their CEO, is the former W3C Chair of HTML5 Interest Group. He speaks english and can be found doing several different coin ico interviews on Youtube.
  • Huang Pu is the COO, only 25, the wiz kid already has several successful exits under his build, including a 200 person company

PundiX has a massive community. Their social media is extremely active.

Verdict

There are plenty of projects already in the space, somewhat, as they are crypto debit cards. However, most of these projects are running into serious legal problems, as Visa/Mastercard are shying away from letting them run debit cards on their system. Pundix need not worry about this. They have a technology/system in place that will never block users out. One that allows you to buy or sell crypto right there at the store without complications.

In January, the team launched Pundi Pundi (their mother app) already one of the most popular QR payment apps in Indonesia with over 100k downloads, and 20k active users. This app allows people to pay their utility and other bills with little effort, and now with crypto.

Risks

  • Jurisdiction risks. Will this device be legally allowed in retail stores? Pundi responds to this question, “The Indonesian authority has stated that cryptocurrency can be bought and sold as virtual goods. However, it is not allowed to be treated as currency. We will abide by this rule. We are in the final phrase of agreement to use an e-money license with a partnering company. According to Indonesian law, an e-money license is one of the essential licenses in the Fintech business in Indonesia, it allows the user to deposit, pay, withdraw and transfer money online. We are also actively seeking counsel from Indonesia’s Central Bank (BI) and Financial Service Authority (OJK). -1
  • The people don’t adopt it. 70% of the people in Southern Asia only deal with cash, no banks even. It could be rather challenging getting businesses and people to sign on. -1
  • If they dont sell enough tokens in the ICO , it is going to be a problem as the amount they raise funds the amount of devices they are able to make and distribute. And most ICOs the last couple months have underperformed big league -3
  • Security risks- I’m not techy enough to know what they are, but it seems like they are going to have a lot of bugs to work through.

Growth Potential

  • PundiX wants to start out by putting a POS device within 5 minutes of every spot in Jakarta. They estimate this will allow millions of new users the option to buy crypto. After Indonesia, they plan to start expanding to South Korea (could be huge). +4
  • They are currently identifying several channel partners to promote the Pundi X Platform and Pundi X Card. 1.Existing POS Device Manufacturers – both hardware and tablet based (ex. Verifone, mSwipe, Kounta, InHouse, etc.) 2. POS Software Developers 3. Crypto Exchanges (ex. Kraken, Bitrex, etc.) +4. Crypto Cards (ex. TenX) 5. Crypto Banks +3
  • PundiX predicts:
    • “In three years, Pundi X will be present in 100k stores in cities globally, giving over 100 million users access to buy cryptocurrency at their nearest shops, cafes, or convenience stores. If the ICO exceeds expectation, we will deliver faster with extra milestones. Pundi X and the blockchain ecosystem needs your support”   If the upcoming ICO reaches 35,000,000 tokens, our target for an installed base of Pundi X POS devices is 100,000 over 3 years. Since these devices constitute a big part of our cost, the amount raised during the ICO will determine device roll out numbers. For example, if we double the amount raised, our network will reach 220,000 Pundi X POS devices in three years, and so forth.”
  • In countries such as Indonesia, around 70% of the population is unbanked, making it impossible to track their credit ratings and give them bank loans. Pundi X plans to collaborate with local financial institutions to create an effective credit rating system. +2

Disposition

Word on the street is Pundi X is the “Indonesian Omisego”. This is a bold statement that could turn out to be a tremendous marketing campaign.

There’s so much to like about PundiX. It’s a great idea, huge community, solid team, working product(demo), and incentives. What stinks is if you do not live in Indonesia, you cannot use it, and don’t get a fancy card. What you do get for participating in the ICO is proof of stake for the first 3 years, and the hopes of your token value rising as the platform gets more and more popular.  6 out of 10

Investment Details

  • Symbol: PXS
  • Start Date: November 20, 2017
  • End Date: December 20, 2017
  • Platform: ETH
  • Conversion Ratio: 500 PXS/1 ETH +bonuses
  • Max ICO market cap: 280,000 ETH
  • Total Supply: 135 million

To sign up for the whitelist, click here.

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. 

 

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