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ICO Analysis: Polybius

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Polybius: “a contemporary banking institution with a progressive approach.” Do what? A banking institution and an ICO? What sorcery is this?

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This is our obvious first reaction to the words “banking institution” in reference to an Initial Coin Offering. Bitcoin, which never had an ICO and whose exchanges sprouted organically, was and is very much about “being your bank,” as in, not relying on centralized entities to steward your wealth. The biggest problems Bitcoin has faced have arisen when centralized entities experienced problems – enter Mt. Gox, Bitfinex, and the Silk Road.

Nevertheless, since we brought it up, we’re obligated to take a close look at Polybius, which claims on its website to have raised over $11 million already by time of writing.

Is Modern Banking An Oxymoron?

Banking itself dates to a time when people’s currency was heavy and constantly vulnerable. Bankers were able to make money by using the funds when their owners were not using them, and for a long time this was the best civilization could do in terms of guarding assets. As the modern age has progressed, we have witnessed more and more legacy institutions fall behind the pace of technology. Our governments and banks remain vulnerable to virtual attack; our institutions are increasingly unreliable and inefficient by comparison to the technological solutions which have arisen.

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Polybius, unlike nearly every other cryptocurrency initiative ever, doesn’t appear to believe the banking system is broken fundamentally. Instead, they think it can be reformed through technology, and this is what they apparently aim to do with Polybius.

Polybius Foundation, a team of financial, security, legal and technical experts is raising funds for its project Polybius Bank. Our goal is to capitalize on the broader digitalization trend […] It will have all the functions of a classical bank, but will not host any branches nor physical front-offices and will rely fully on the latest digital technologies.

Okay, so you mean like Ally Bank, ING Direct, Green Dot, or any of the myriad of other online banks that do not have any physical services? Thus far we’re not hearing much difference between those and this, other than that those did not go to the public with an ICO in order to raise funds for their businesses. What else?

It will aim to enable secure and seamless connections between life and the things we love and use every day.

Not just vague, this, but boring! Thus far, in the Polybius Prospectus, we’re not seeing anything more than you’d see in a destined-to-fail slide deck at any VC meeting. In fact, the problem that Polybius purportedly wants to solve arguably has dozens, if not hundreds, of solutions on the market, probably none of which are trying to crowdfund their bootstrap funds.

For the purpose of this article, we put forth the following notion: banking itself is archaic and therefore can only be modernized to the extent that it can ease the transition to era-native solutions like the blockchain. This being the stance of the author, the idea of creating a “modern bank” for the “digital generation” is already underwhelming, as a concept, and probably futile as en effort.

But regulatory concerns persist in the cryptocurrency space. Ripple has seen significant gains due to its regulator-friendly approach to blockchain implementation, while Bitcoin, which has few if any regulator-friendly features, has seen even greater gains. Therefore, a project which aims at compliance from the start does have some potential for growth. In theory.

More A Traditional Investment Than An ICO

The token produced in most ICOs has some later purpose like trading or using within an ecosystem, but in this case, the only purpose is to hold in order to collect profits. At the end of each year, 20% of the bank’s profits will be transferred to a designated Ethereum wallet, and from there they will be distributed to token holders. This means that the tokens can still be sold between people, but that speculation will probably not be the primary usage of PLBTs.

Therefore, this analysis is not so much about the token but about the potential profitability and performance of the bank it is underwriting.

Polybius will only operate in the European Union at the outset, due to its familiarity with the region, according to the business model. It would seem ironic if they were to remain in this mode, as they wish to serve the “digital generation,” which is essentially a borderless generation.

The business model document only plans for a fundraising of up to $6 million, but at time of writing the bank claimed to have already raised over twice that amount. At this level, in terms of products and services, they intend to offer:

  • E-commerce gateway
  • Peer-to-peer loan facilitation (on which Polybius will profit by commission)
  • Managed cryptocurrency investments
  • Debit cards/EFT services

The model does not go into specifics as to the actual meat and bones of the company at this point in the game. Presumably Bitcoin and other cryptocurrencies, as well as Euros, would be usable for an account holder. The question of profitability comes to mind. By their own forecasts, Polybius believes that by the end of 2018 they will be operating somewhere between a 35 and 40% profit level. The question is how they will achieve that, and how valuable any of the above listed services are to consumers and businesses.

The e-commerce gateway model is dominated by Coinbase, Bitpay, Bitgo, and a few others. A new addition, despite the rise of cryptocurrencies, does not exactly raise eyebrows in terms of prospects.

Peer-to-peer loan facilitation, however, conducted by a regulated and state-certified entity, via cryptocurrency, could be a big hit. BTCJam, a Bitcoin-only version of Kickstarter, has faced regulatory issues everywhere it has operated, and last year halted operations in the United States as a result. Firms which can deftly navigate the micro-loan and peer-to-peer loan market are potentially embarking on huge returns.

Managed cryptocurrency portfolios might be interesting, but these funds will have to prove themselves before they will actually reach a real profit for the company via commissions and fees.

Debit cards are a dime a dozen anymore. It would seem obvious that if they’re going to be a traditional bank then debit cards would be a requirement. The ceiling on fees for these is pretty low, as well, given the level of competition.

Overall, this 40% figure can only derive from the fact that the actual costs of launching these initiatives is relatively low, not from the bombast of the offerings.

The Polybius Foundation

Like many of the Ethereum ICOs, the heavy lifting for this project has largely been done or can be contracted, so most of their team is focused on business operations.

The project is mostly being spearheaded by HashCoins, an Estonian company which focuses on blockchain technology. They don’t list a lot of credits on their site, but testimonials are present from CryptoPay, AdVendor, and EmerCoin, none of which are massive names. This is not a drawback, necessarily, but what we’re saying here is that the company doesn’t have some huge track record of giant profits.

At the helm of HashCoins is Ivan Turygin. Turygin has not made a lot of public statements during his professional life. His LinkedIn profile lists HashCoins and Burfa Capital as his two primary positions for the past four years, and before that he worked as a CEO for a company called Delirium. According to the Internet,

Dilerium Ou is a relatively mature organization in the lumber and other building material companies industry located in Tallinn, Estonia.

Turygin’s experience at Burfa Capital might be helpful to his current venture. Unfortunately, the English-speaking Internet doesn’t know much about projects which Burfa Capital has backed, so a good track record can’t really be garnered that way.

Moving over to the co-founder, Sergei Potapenko, it becomes more evident that both Burfa Capital and Burfa Media are projects the two started together. From what we can gather, they made their money in the Siberian timber trade and are looking to put their money into more financial instruments through HashCoins and Polybius, among others potentially in the future.

Potapenko has no other work history besides his entrepreneurial endeavors, post-college.

They have a handful of other people working with them at HashCoins, and then an equivalent number of advisors, none of whom are overly notable from this perspective, but some of whom have important offerings, like Ugo Bechis, a financial advisor and economist with a long career.

The team itself doesn’t appear to be lacking in the abilities required, nonetheless, although, as previously stated, much of the technical work has either been done or can be contracted, which could be the intention, although HashCoins of course has developers on staff. The lead developer for the Polybius project is Renna Reemet, who has numerous employment credentials since leaving college, including as a PHP Developer for something called Creditstar Group.

The Verdict

There are some angles in this project that can be worked into a profitable mode, but the likelihood of failure is pretty high from this writer’s perspective, given that there are no truly revolutionary offerings here. Their managed trading portfolio offering will probably be overshadowed by ShapeShift’s Prism, their Debit card, as noted, is anything but special, and their other services are likely to take a long time to really gain traction.

But the approach is there, and there is potential due to their regulator-focused approach.

Therefore we will give Polybius a 4.9 out of 10 in terms of likelihood of recouping funds invested. A bit higher (5.1) if you intend to recoup them by trading, shorting, or otherwise messing with the token itself, but on simple profitability of holding the token itself, we’ll say your odds are a little less than half in this case.

Investment Details

There will be no fixed supply of PLBT tokens, but the price is fixed at $10. An unlimited number of tokens can be created and purchased during the crowdsale. The tokens primary function is for redemption of stake in the bank itself, not trading, although they are of course tradable, and secondary markets are likely if the growth of the ICO continues. So far, at $10 per token with a declining (by week) discount, they have raised over 12 million dollars. This means they’ve minted at least 1.2m PLBT tokens so far. According to their FAQ, you can make purchases in multiple ways:

  • Wire transfer in USD and EUR (Minimum purchase amount 10 PLBT)
  • BTC, ETH, USDT direct transfer (Minimum purchase amount 1 PLBT)
  • Multiple cryptocurrencies supported by ShapeShift.io (Minimum purchase amount 1 PLBT)
  • Emercoin (EMC) direct transfer (Minimum purchase amount 100 PLBT)
  • Debit/Credit card payment (Visa/Mastercard) (Minimum purchase amount 1 PLBT)

It should be noted that the project is in no way stating that there is some kind of $10 floor on the PLBT token. To guesstimate a floor based on the initial price, you have to rely on the rationality of the initial purchasers, most of whom, it would seem, are investing with an eye toward reaping rewards at the end of the business year.

You can invest today, if you wish, by going to ico.polybius.io.

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 1 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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1 Comment

  1. AzziGeo

    June 10, 2017 at 10:03 am

    Thank you for your detailed analysis , it gave a very clear idea about this new project that i have been reading about. i do think that it is more like a traditional bank disguised in the revolutionary blockchain idea.

    Would it be possible to have your idea about NVO.io too?

    thanks

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ICO Analysis: Endor

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Endor.coin, more commonly known as Endor, is a behavioral analytics protocol for businesses as well as individual users. The team has dubbed the project as the “Google for predictive analytics.”

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Until now, high costs have kept out anyone but large organizations from accessing artificial intelligence and predictive analytics. Most predictive questions require data scientists, weeks of iteration, and consistently updating data models to produce accurate results. Using blockchain technology and automation, Endor democratizes this data making it available for anyone to use – no fancy Ph.D. required.

Social Physics

Endor expands on a new, MIT-based science, Social Physics. This science states that each set of event data, like credit card purchases, contains certain human activity patterns within the data. If you’re able to detect these patterns, you can create more accurate predictive analytics than normal machine learning.

Automatic Prediction Engines for Enterprises

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Endor’s first focus is on an automated “Data as a Service” platform for enterprise clients. With this engine, a business can upload a set of behavioral data, and after a short integration (a few hours at most), they’ll be able to ask questions about the future behavior of the subjects in the data set.

The team has already used this platform in studies to measure brand loyalty, new product adoption, and market campaign effectiveness at Coca-Cola as well as detect ISIS activists on Twitter. All of this done at a fraction of the cost of current systems.

Data Science for the Masses

After the successful implementation of Endor for enterprises, the team plans to use the protocol to fully democratize behavioral predictions. Through the decentralized nature of blockchain technology, Endor connects users to data providers in a cost-effective, trustless way ensuring that the predictions they receive are as accurate and affordable as possible.
At first glance, this may not seem as beneficial for individuals as it is for organizations. Imagine this, though. As a cryptocurrency investor, you want to know, “What tokens are going to increase in price by 20% in the next month?” With Endor, you now have access to the robust predictive trading engines that were previously only available to institutional investors and the uber-wealthy. Although the answer you receive may not be perfect, it still gives you a critical edge over those not receiving it.

Token

The Endor team is designing the protocol in a way that connects to an existing blockchain as well as off-chain datasets. As a user, you must pay EDR tokens to make a prediction request. The larger and more complex your request, the more EDR you need to pay. Two potentially separate entities receive this payment. The first is analytical data providers who supply the robust data sets used in the analytics. The other are those who perform the intensive computations on those data sets.

The team will eventually open up the Data Layer so that providers can additionally sell their data to outside parties.

Team

PhDs, data scientists, and product experts comprise the majority of the Endor team with a large number of members tied to directly to MIT.

Dr. Yaniv Altshuler, co-founder and CEO, is an MIT researcher and recently published “Swarms and Network Intelligence in Search” – a fitting book for the Endor protocol. Another MIT co-founder, Professor Alex Pentland, created Social Physics and is a founding member of advisory boards for many notable organizations like Google and the UN Secretary General.

Beyond a rockstar team, Endor is already working with some big players in the product and service industries. The list of partners includes Mastercard, Coca-Cola, Walmart, and Travelers Insurance, to name a few. On the blockchain side, the team has formed strategic partnerships with Bancor and Enigma.

Tokens and Distribution

The team hasn’t yet released any information on the number of tokens or how they’ll distribute them.

However, they outline in their whitepaper that they’ll use the majority of the ICO contributions for research and development. The team will also use up to 10% of the proceeds to form a joint partnership with a world-leading research institute. Additionally, up to 30% of funds will be used to purchase proprietary technology such as prediction engines.

Verdict

Endor is using Social Physics to provide better predictive analytics to businesses as well as individuals. The enterprise protocol has already been successfully tested and used by numerous Fortune 500 companies while the individual-facing product will be available at the end of 2018.

Even though the token distribution details haven’t been released, the team and partnerships alone are strong indicators that this could be a valuable opportunity.

Risks

  • No token details. The team has yet to release any details about the token distribution. Even with a great project, poor distribution could be detrimental to investor returns. (-3)
  • Dependence on a consumer product. The enterprise protocol is only one half of the project. The half for individuals hasn’t been built yet and has a lot to prove. (-3)

Growth Potential

  • Numerous use-cases. There’s no shortage of scenarios that benefit from predictive analytics. AI, machine learning, and behavioral science are becoming more valuable each year. (+4)
  • All-star team. This is exactly the type of team you want working on a project like this. From MIT data scientists to blockchain experts, they’ve got it all. (+4)
  • Successfully tested product. Having a working product puts Endor ahead of the majority of other ICOs. The fact that it’s been tested with big-name companies is just the icing on the cake. (+5)

Disposition

Endor scores an impressive 7 out of 10. The project checks off the boxes you want to see in an ICO. Strong team? Check. Large market? Check. Working product with customers? Check and check.

The only unknown, for now, is how they’re going to distribute the tokens after the ICO. If the Endor team stands by their mission of decentralization and democratization with fair distribution, this has the potential to be one of the most exciting ICOs of the year.

Investment Details

Endor has not announced a date for their crowdsale yet. However, you can check out their website to stay up-to-date with any news or updates.

  • Type: Utility
  • Symbol: EDR
  • Platform: Ethereum
  • Crowdsale: Pending
  • Soft/Hard Cap: Pending
  • Price: Pending
  • Jurisdictions Barred from Participation: Not specified
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 10 rated postsAlex Moskov is a writer and entrepreneur with a passion for building and creating awesome things. Alex has experience in music tech startups, digital marketing, and cryptocurrency investing.




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ICO Analysis: Joint Ventures

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When it comes to unique content, the internet is an ever-expanding medium. It has been estimated that 90% of all online content has been generated in the last two years alone. Although this presents tremendous monetary value, benefactors are limited to a few major players such as Google and Facebook. These powerful platforms act as middlemen, where they generate significant revenue from content publishers and advertisers.

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Joint Ventures is a blockchain project designed to weed out the middleman in the digital content industry. As the website states, the project’s aim is to “create an economy for online publishers that rewards every participant of the network, including authors, commenters and advertisers alike, and minimize third-party commissions.”

According to the company whitepaper, Joint Ventures is developing a platform that operates very much like Google and Facebook in that ads are displayed on a publisher’s website. The key difference is in the revenue structure, data protection guidelines and transparency of the network.

Facebook has gotten into a lot of trouble for inflating its ad reach metrics, making blockchain projects like Joint Ventures very timely. Given that the project is based in Turkey, it perhaps hasn’t received the attention it deserves. Rest assured, Joint Ventures is a highly ambitious project backed by a strong team and compelling business model.

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Token

Joint Ventures will launch an ERC-20 compatible token that will facilitate every transaction on the content economy platform. The JOINT token will be utilized by publishers and advertisers to launch ad campaigns, increase visibility and acquire new visitors. Active participation is also incentivized, making it easier for publishers to build a community on the platform.

In terms of specific use cases, advertisers will use JOINT tokens to run advertising campaigns and bid on placements. Publishers are paid in JOINT tokens when their content is consumed by platform members.

The token sale is scheduled for Apr. 7 and will last for 30 days or until the hard cap of 12,500 ETH is reached.

In terms of token distribution, 616 million JOINT units will be issued with 100 million available via crowdsale.

Team

The Turkey-based Joint Ventures employs a local team well versed in the ad-tech industry. The founder, Ahmet Arslan, has been involved in the industry for seven years. Co-founders Latif Cakiroglu and Zeki Kavrazli have backgrounds in software and digital media, respectively.

Eleven team members ranging from full stack developers to marketing specialists are listed in the whitepaper. They will be supported by a triad of advisers specializing in venture capitalism and online marketing.

In the unlikely event you are familiar with the Turkish media industry, none of the names presented in the whitepaper stick out. That being said, Joint Ventures has put together a well-rounded team of professionals in two key areas: digital advertising and software development. We also appreciate the LinkedIn profiles provided for each team member on the homepage. In the author’s view, this is a transparent company.

Verdict

Joint Ventures has a noble vision and plenty of growth potential. It is also entering the market at a time of heightened sensitivity toward ad reach and viewership metrics, making online advertising primed for blockchain disruption. The key question investors need to ask is whether the project has enough stamina to compete with the massive competitors it has identified in its whitepaper.

Risks

  • As the whitepaper rightly notes, the online content economy is massive. This is both an opportunity and a risk for Joint Ventures because it hasn’t identified a niche segment of the online publisher community in which to pilot the platform. At the same time, the company is going up against huge competition from the likes of Google, which has essentially become a gatekeeper to the world of online advertising. -2
  • We like the roadmap. It is clear, precise and reasonable from the perspective of expectations. However, investors will have to wait until Q3 2019 for the platform to become fully functional. Given that the affiliate program will launch at the end of 2019, this project appears to have a long sales cycle. We imagine that building out the network – attracting advertisers and publishers – will take considerable time. The only success markers in the meantime are WordPress plugin testing, a beta version of the platform and block explorer/mobile apps. -1
  • The whitepaper has identified a subscription model as one of its core objectives moving forward. If that is the case, it will be competing for subscription revenue from more established websites. This is merely speculation on our part, given that the whitepaper didn’t really explain how subscriptions will work, except that they will provide access to exclusive content. -1

Growth Potential

  • The whitepaper does a great job of linking content development to digital advertising, giving Joint Ventures a clear revenue stream and room for growth. It has also prioritized mobile viewership given the widescale adoption of smart devices. The company is therefore operating in a highly lucrative industry and has prioritized the right technologies. In fact, mobile app development is cited as one of the company’s first major deliverables. +2
  • Developing a content economy has a strong network effect; adoption begets more adoption. For Joint, this multiplier effect can come from content consumers (i.e., commenters) and content developers themselves. As these two segments grow, advertisers will flock for eyeballs. +3.5
  • If you are a content developer, one of the major motivations for joining Joint Ventures is the promise of shared revenue. As the whitepaper states, “The content economy created by Joint splits revenue with every participant who adds value to the network.” In doing so, the ecosystem promises to end the “monopoly of the middlemen,” i.e., Google and Facebook. +3.5
  • The team driving Joint Ventures appears well rounded and committed to the project. In the ICO world, full commitment is not to be taken for granted since many token raises appear to be launched a side projects or run by leaders with commitments elsewhere. Although you may have limited experience investing in Turkish companies, everything about the team checks out. +2

Disposition

Joint Ventures has the potential to make a transformative impact on the online advertising business and fundamentally change the relationship between advertisers and content producers. After weighing the benefits and the risks, we arrive at a score of 6.5 out of 10 for the upcoming project.

Investment Details

  • Type: Utility
  • Symbol: JOINT
  • Platform: Ethereum
  • Presale: None planned
  • Crowdraise: Apr. 7, 2018 – May 7, 2018
  • Hard Cap: 12,500 ETH (fixed)
  • Tokens Available: 100 million
  • Token Price: 1 ETH = 8,000 JOINT
  • Payments Accepted: ETH
  • Jurisdictions Barred from Participating: None specified

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 153 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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ICO Analysis: Solve.Care

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The stated mission of Solve.Care is to “Make health care and benefits programs work better for everyone.” Solve.Care aims to improve security and privacy while also improving access and accountability in a manner that current centralized systems cannot accomplish.

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Solve.Care’s platform intends to vastly improve the administration of benefits and the coordination of care. By using blockchain technology, the company seeks to reduce the costs within the current healthcare system by replacing systems which are duplicated while automating many processes that are currently being done manually. In turn, this will greatly reduce fraud, abuse, and waste by ensuring accountability and transparency.

According to the whitepaper, the platform will coordinate and simplify the interactions between healthcare providers/facilities, pharmacies, government agencies and insurance companies on a global scale. Every transaction that happens in Solve.Care is immutable, instantly verifiable by all authorized parties. The platform will also allow everyone to have access and control over all their information and actions in a simple and understandable manner. They can make appointments with a touch, share records with a swipe, compare prices, utilize all available discounts, manage prescriptions and interactions, view personalized care information, coordinate care among providers, make accurate payments and manage their benefits.

Building a community of developers, partners, and resellers to continually expand the platform and apply collective intelligence, Solve.Care believes it can revolutionize the healthcare industry. With the latest advances in blockchain technology and our experience in healthcare coordination,  health and human services and healthcare benefits, Solve.Care believes it has designed a platform that will redefine healthcare for individuals, employers, providers, administrators, insurers and government agencies around the world.

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The integral components of Solve.Care:

  • Care.Wallet: designed as a blockchain app to help patients and providers to communicate and manage care. Care.Wallet houses Care.Cards and Care.Coins that put the consumer in full control over information and actions.
  • Care.Cards: built in applications inside the Care.Wallet. Care.Cards are equivalent to apps in an app store that can be downloaded from the Care.Marketplace.  builds intelligence into the platform to automate healthcare administration, effectively coordinate care between multiple stakeholders, handle complex billing transactions and deliver personalize information to the wallet holders.
  • Care.Coin: the payment token used within Solve.Care. Care.Coin can remove a lot of the risk and reduce cost from the 3rd party
    payment model by providing transparency, immutable replay and accountability which will eliminate the majority of fraud, abuse and waste.
  • Care.Vault: designed to organize and manage the data within the Solve.Care platform and from external sources as well as manage access.
  • Care.Protocol: connects and synchronizes wallets, cards, and coins between stakeholders, to coordinate care and automate transactions in a revolutionary new approach. Care.Protocol handles all communications and synchronizes wallets, cards, coins and client systems. With the Care.Protocol there isn’t a need for a centralized record keeper.

Solve.Care seeks to provide the following benefits to individuals:

  • Give you complete control and immediate access to all of your healthcare records and the ability to give access to anyone you choose instantly
  • Make all of your medical history secure without anyone able to access your records without your permission
  • Give you access to how much healthcare procedures will cost beforehand
  • Make it nearly impossible for fraud or overcharged by your healthcare providers
  • Make it so that you never need to call your insurance company for verification

Token

CAN is an ERC20 token with a fixed supply of 1 billion. Currently, CAN is in presale with a 15% discount with a price of $0.085. The public Token sale starting on March 31st will have a price of $0.10. There will be 350 million tokens available for sale, with a soft cap of $3 million and hard cap of $29.5 million. All unsold tokens will be burned. Visit the following link for information regarding the token sale.

The token allocation is as follows:

  • 35% Pre-sale and ICO
  • 20% Community
  • 18% Team (Vested schedule of 36 months)
  • 15% Growth & Acquisitions
  • 9%  Long-term foundation budget
  • 3%  Token sale expenses

Team

The Solve.Care team and advisors consist of more than 50 industry professionals that come with a wealth of experience in healthcare, blockchain, and business. A complete list of the team and advisors are listed on Solve.Care website along with their Linkedin profiles..

The team is led by Pradeep Goel, who is also CEO of Ukrsoft (acquired by Solve.Care Foundation), CEO of EngagePoint, Inc. and CIO of Noridian BlueCross BlueShield of North Dakota. Pradeep Goel has built four healthcare IT companies and has been at the top of INC500 fastest growing companies lists multiple times. Pradeep is also on the 100 most promising entrepreneurs worldwide, according to Goldman Sachs CEO. He has worked closely with insurance companies, employers, benefit administrators, and multiple U.S. government projects related to healthcare reform such as Medicaid, Children health insurance, Medicare, SNAP, TANF, mental health and more.

Notable project advisers include:

  • Donald Upson – Founder and Managing Partner (Upson Technology Group), President of Cybrforce, COO of UNICOM Global, Secretary of Technology for Commonwealth of Virginia
  • Jack Friou – Senior VP, Director of Government Relations at Aflac Inc.
  • James Moran – served as the U.S Representative for the 8th congressional district of Virginia, former Mayor of  Alexandria, Virginia
  • Kostya Grygoryev – Founder & COO of Aidditive Inc, Managing Partner at MODEX Ukraine, CEO of Ukrsoft
  • Andrii Zamovsky – Founder of Orderbook, Founder of Ambisafe, Founder & CTO of NoveltyLab
  • Ilia Kenigshtein – Co-Founder & Chief Creative Officer at Creative Quarter, Adviser to the Lviv City Mayor, Managing Partner at Hybrid Capital

The firm is also partnered with Ambisafe, Foxtail Marketing, ARPI (American Research and Policy Institute) and Juscutum Attorneys Association.

Verdict

Solve.Care has already made a key acquisition and collaborated with a major-league partner. In early 2017, Solve.Care acquired Ukrsoft, a long-standing research,and development partner. Ukrsoft has successfully addressed worked with some major clients, such as Delta Airlines, Boeing, Department of Defense and many more.

The Solve.Care Foundation has already signed on a huge customer – a U.S.-based care delivery network that will use their product as a provider of performance payments. It’s a multi-year contract with a highly reputable organization whose charter is perfectly in alignment with the Solve.Care platform and mission. This healthcare delivery organization is responsible for managing care for 250,000 families, 5,000 providers, and 200+ facilities. Furthermore, the Solve.Care coin is expected to be the first real healthcare currency that will be used for proof of service and payments between doctors and patients. With the team and advisors not fully vested for 2-3 years, Solve.Care appears to be in it for the long haul.

Risks

  • Although the use of proceeds is clearly shown percentage wise in each category (sales and marketing, infrastructure and project management, etc.), there aren’t any details of how the funds will be used within the categories. -2.5
  • The launch of the platform isn’t scheduled to be released until after the ICO is complete (Q2 2018). -2
  • Although the CEO is highly qualified, it is unclear whether this project will have his full attention. As we highlighted in the Team section, he is currently serving in executive management positions for a number of organizations. -0.25

Growth Potential

  • A strong team of over 50 members and an impressive list of advisers. +5
  • The project has already announced a partnership with a company in the United States with 250,000 clients. +3.5
  • The U.S. alone spent more than $3 trillion on healthcare in 2017. With Solve.Care to target the global market, only a small percentage is needed for great revenue potential. +3

Disposition

Solve.Care warrants a score of 6.75 out of 10. With drastic price increases in healthcare, Solve.Care has the potential to shine if it achieves its vision of integrating into the healthcare system using blockchain technology to lower cost, reduce fraud and increase efficiency.

Investment Details

  • Type: Utility
  • Symbol: CAN
  • Crowdsale: March 31, 2018
  • Price: $0.10
  • Hardcap: $29.5 Million
  • Payments accepted: Eth, BTC, USD
  • Jurisdictions Barred from Participating: None

For more information regarding Solve.Care ICO:

Website: solve.care (Team, Roadmap, Whitepaper)
Github: github.com/SolveCare
Reddit: reddit.com/r/solvecare
Twitter: twitter.com/Solve_Care (2350 Followers)
Telegram: t.me/SolveCare (4646 Members)
Medium: medium.com/@solve.care
Facebook: facebook.com/SolveCare-264450984069589

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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4.9 stars on average, based on 9 rated postsKent Hamilton is a cryptocurrency day trading ninja, specializing in altcoins. Founder of CryptoDayTrader.io




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