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ICO Analysis: Zenome

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Genomics is an interdisciplinary field of science focusing on the structure, function, evolution, mapping, and editing of genomes. A genome is an organism’s complete set of DNA, including all of its genes. In contrast to genetics, which refers to the study of individual genes and their roles in inheritance, genomics aims at the collective characterization and quantification of genes, which direct the production of proteins with the assistance of enzymes and messenger molecules. In turn, proteins make up body structures such as organs and tissues as well as control chemical reactions and carry signals between cells. Genomics also involves the sequencing and analysis of genomes through uses of high throughput DNA sequencing and bioinformatics to assemble and analyze the function and structure of entire genomes. Advances in genomics have triggered a revolution in discovery-based research and systems biology to facilitate understanding of even the most complex biological systems such as the brain.

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The field also includes studies of intragenomic (within the genome) phenomena such as epistasis (effect of one gene on another), pleiotropy (one gene affecting more than one trait), heterosis (hybrid vigour), and other interactions between loci and alleles within the genome. This brief primer on genomics is a good Segway into the Zenome project.

The Zenome Project

We are now able to objectively analyze and observe the behavior of what makes DNA be what it is, exploiting totally new shores on the field, generating an enormous amount of detailed information including patterns and relations between organized molecular systems in an organic entity and biological automation on a whole new level.

According to Nature.com “Two research groups came across the phenomenon independently while studying extracellular vesicles — pieces of cell membranes that pinch off into bubbles and float away from the cells. These vesicles circulate throughout the body, but little is known about their function. The teams, led by neuroscientist Jason Shepherd at the University of Utah in Salt Lake City and cell biologist Vivian Budnik at the University of Massachusetts Medical School in Worcester, looked at mice and flies (Drosophila melanogaster), respectively.”

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Projects like Zenome allow for individual units around the world share their DNA information with a decentralized blockchain based platform, where digital representations of the DNA, under the form of accurate information, are stored, analyzed and exchanged between scientific research foundations, academic labs, hospitals and health technology programs and pharmaceutical research to mention a few.

The Token

ZNA is the native currency of the Zenome Platform, a token based on the Ethereum Network (ERC-20).

The initial pool of tokens released for the presale was 3.2 million ZNA. After the presale reached about 350,000 ZNA, the remaining tokens were burned.

The total number of tokens that will be released at the time of the main token sale is 35 million, of which 25% will be frozen for use as a reward to network participants (for example, for the provision of hard disk space or computing power). Thus, the initial supply was 3.2 million at the moment of the presale. The total supply of the token is 35 million ZNA (including burned tokens), while the max supply will never surpass 35 million tokens. At the same time, the circulating supply will not be more than 75% of the total supply, which is about 26.25 million ZNA.

As for the use of the token, it is a utility token that performs a functional role in the Zenome system, which means it is not just a speculative tool. Inside the Zenome network, a Zenome platform user could use the token to purchase genetic tests and reports, pay for genetic counselors, physicians, and health managers. In fact, you can pay for any service related to your genome, up to and including dating services.

Industrial companies, academia and research sectors will be able to purchase personal genomic data (genetic, medical, behavioral and other) based on real human individuals that are part of the network in exchange for ZNA tokens.  ZNA will be used to build a market for genomic data and any services around it.

Team

The founders of the Zenome Project are Alexey Gorbachev (Research Institute of Physical-Chemical Medicine,  whopreviously worked for Quantum, GenEra and, Institute of Nutrition) and Nikolay Kulemin with a Ph.D. in Bioinformatics from the Moscow Institute of Physics and Technology, department of molecular and biological physics (MIPT). Vladimir Naumov (Genomic Data Scientist) and Sergey Popov (Blockchain Developer) are concluding the core of the Zenome project. The team seems aptly qualified to run a genomics project of this nature.

Verdict

Until recently, the genomics industry was based mostly on speculation, using a substantial amount of animal testing experiments as “information” inputs in order to analyze a biological concept, understand it on a certain degree and determine how it might affect humans. One can readily see how this approach is limiting when it comes to studying human DNA.

Platforms like Zenome can gather “information” regarding the human DNA based on real data collected by physical labs across the globe, which will create certified digital or physical representations of our DNA. We can send this DNA information to the Zenome platform through an application and that would support the fact that this specific information is a catholic example of a specific individual’s DNA.

Zenome aims to provide individuals with the opportunity to control and even monetize their genomic information. One of the project’s core strengths is the promise of establishing equal conditions for drug treatment. It is this interplay that could make Zenome an attractive investment for those willing to learn more about the industry.

Risks

Zenome might sound like a solid project, but if you’re looking at it as an investor and only, you should consider the following facts:

  • The genome market is a brand new field not only when it comes to blockchain but also on a physical scale. There will be a very strict group of organizations that would be keen on purchasing genome databases in the near future. -1
  • A user’s personal genomic information could be exposed to companies that may try to personalize their products based on your data. In other words, there may be significant ethical issues at play in this industry. -3
  • In order to have your genomic data sent to the Zenome platform, you should visit a local lab, authorized by Zenome and experience DNA Sequencing on first hand. This may limit adoption, especially when you compare it to some of the leading DNA ancestral services on the market. (These services send the kit directly to your door and your DNA sample can be sent back via mail.) -2

Growth Opportunity

Zenome plans to hit a market cap of $70bn by the end of 2019, based on their partnerships and analysts. Previous ICO speculations showed us that this number could vary dramatically from the expectations, especially in 2018, where academic, industrial, governmental and banking money are flowing into the blockchain sphere. Below are some of the biggest growth opportunities associated with Zenome:

  • Blockchain was certainly a surprise for all of us and while some are obsessed with the monetary applications and the profitable side, there are literally 4th generation blockchain based projects that are on another level entirely. These projects could unveil the real capabilities of that new technology in almost any possible field we can think of. Zenome appears to be on this level. +3
  • Creating the next generation of drugs that target molecular-level functions is unavoidable. A project like Zenome could help us reach that potential. In other words, the project is well poised to capitalize on partnerships with the pharmaceutical industry, which is highly lucrative. +3
  • Data science technologies in combination with accurate information about human genomics certainly create a whole new concept in the sphere and that is what Zenome is working on. Eventually, health tech will start to integrate  Zenome or similar platforms will have to be established in order to understand better and most important accurately what we are made of, how we can affect our environment and how it affects us. +3
  • The team is led by domain experts in genomics as well as blockchain professionals – a rare combination that could lead to exceptional results. +3

Disposition

The Zenome platform may need some time to create a network of labs, academic partnerships and most important convincing people to do a DNA test is not that simple yet.

We know that we are rolling into an era of machines and humans integrating their intelligence and capabilities into single use cases, but Zenome might sound a little bit “Sci-Fi” for the majority of the people, causing a long curve.

Long-term investors will appreciate its value, realizing the disruption a project like this could bring along when the global health industry realizes the capabilities it offers.

A score of 6 out of 10 is reserved for Zenome, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: ZNA
  • Pre-Sale: Concluded
  • Public Sale: February 1st, 2018
  • Payments Accepted: ETH

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

Featured image courtesy of Shutterstock. 

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

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  1. ICOinvestor

    January 29, 2018 at 4:09 am

    I’d like to know what the quote from journal Nature has to do with anything in this ICO analysis.
    Also it seems written in a hurry and a lot of times it’s very hard to understand what exactly the author is trying to say, just look at the information about the number of tokens for example. We are paying $40/month for this and honestly it’s starting to look like this may not be worth it.

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ICO Analysis: DAOstack

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Token

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

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

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

Below are the project vitals:

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

The distribution is as follows:

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

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

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

Team

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

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

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

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

COO Yehonatan Goldman’s profile is below:

 

Verdict

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

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

Risks

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

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

Growth Potential

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

Disposition

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

Investment Details

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

Image courtesy of shutterstock

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4.1 stars on average, based on 10 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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ICO Analysis: HighIoT

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

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

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

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

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

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

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

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

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

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

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

Token

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

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

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

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

The 10 billion HIT tokens will be distributed as follows:

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

Team

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

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

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

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

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

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

Verdict

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

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

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

Risks

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

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

Growth Opportunity

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

Disposition

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

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

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

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

Investment Details

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

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

You can follow HighIoT for updates below:

 Official Website

White Paper

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

Featured image courtesy of Shutterstock. 

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

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ICO Analysis: Ambit Mining

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Chinese bitcoin mining

By 2017, cryptocurrencies reached their mainstream peak, where people like Alan Greenspan and Microsoft’s Bill Gates were talking about the possible value in this new digital asset class.

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The current state of blockchain technology has already proven itself more than just worthy, improving the lives of many people and legal entities in various ways. However, blockchain-powered platforms require an enormous amount of computing power to run smoothly.

One of the most important gears of the current blockchain-factory is the concept of “mining” cryptocurrencies, or in a nutshell, lending your computing power and resources in order to provide the blockchain the power it needs to perform the transactions set within the network, in exchange for a portion of the transaction.

While “mining” is necessary for most of the current blockchain systems, it is also a pain in the ass for various reasons, including

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  • Mining has extremely high-energy costs
  • The noise and heat generated by the machinery could be really disturbing
  • Requires a lot of physical space
  • Requires expensive hi-tech ventilation/air-conditioning systems
  • Requires 24/7 personnel to monitor the plant

That is why, over time, mining ended up being extremely difficult and concentrated in a few hands. Most mining companies disappeared or merged with similar companies and those who take mining seriously even started to move to countries with low taxes and low electricity fees.

For some countries, mining feels are very low. Take Georgia, for example, where the average rental price per a square meter is not more than a couple dollars. The price per KWh is not more than $0.05, in opposition to the average European KWh price that is currently around $0.20.

Ambit Mining is a Georgian-based start-up that has been taking advantage of these features for some time now. The company operates its own mining plant, powered by major industrial titans like Schneider Electrics, AMD, NVidia, Cisco and Kingston.

Ambit Mining is constantly evolving and are now launching their own ICO to power an ecosystem of investors and developers under the Ambit Mining roof.

The Georgian company not only is one of the most promising, according to their latest transparency release, but they have ties to governmental institutions in Georgia, understanding both local and international markets with a solid and modern business plan.

Unlike most mining plants with a business model, that rent you specific hash power, Ambit Mining gives you the opportunity to be part of the business model by releasing 85% of their total token supply to the public.

Ambit Mining uses both ASICs and GPUs to diversify risks. They have a modern plant and they keep expanding. Ambit Mining unites mining, cloud, and hosting services into one decentralized platform, guided by the community shareholders.

The company is part of the economic free zone of Tbilisi, capital of Georgia and they have an interesting and transparent history when it comes to mining. Their latest project achieved 100% ROI in just five months.

Token

The AMBT token is Ambit Mining ecosystem’s native currency. It can be used to purchase mining contracts, computing power, or even cloud space. Each token has a value that can be translated as a vote on significant community events and updates.

At the same time, naturally, you can swap your AMBT for ETH, or any other major cryptocurrency and find shelter in fiat or other altcoins.

The total token supply is set to 104,000,000 AMBT, 85% of which (88,000,000) will be accessible during the public sales.

Ambit Mining, unlike most ICOs, will require only 3% to be reserved for the company, while 9% is distributed to team and advisers, and the final 3% will be given to bounty participants.

The starting price of an AMBT token is approximately set around $0.5 per unit, which is ultra cheap, if you consider that projects with a similar total supply cost between $10 and $200 at the moment, with Ethereum (~99 million total supply) being the most expensive per unit at $585 US dollars.

Team

Beka Vashakidze (Founder & CEO) is the CEO of BF group holding Company operating on mining in Georgia. He is involved in numerous different industries including Fintech, Digital Media, oil and gas among others.

Giorgi Inashvili (Chief Operational Officer) is behind numerous projects around marketing, sales, and logistics areas. He is talented in business planning and project management.

George Khmaladze (Chief Financial Officer) is currently a professor and lecturer at Georgian Technical University. He is an important figure in Georgia, having served director and chairman in various organizations in his country.

In the board of advisers, we can find Karan Khemani, CEO of Spectre, Miguel Palencia, Chief Information Officer at Qtum Foundation and Andri Matiukhin, Chief Technical Director at Hacken among others.

Overall, the Ambit team consists of professionals with years of experience in the mining scene. A big portion of the initial team is native Georgian, acknowledging the benefits of the grounds they live in.

Verdict

Mining is a crucial part of most blockchain-based technology companies. The more companies adopting distributed ledger technology, the more mining will be required. Ambit offers its services as a solution to this problem, with specified facilities and reduced mining costs.

Indeed, Ambit has favorable synergies that could be very beneficial for someone looking at mining seriously. Within its years of operation, Ambit has managed already to create a 1 MW diversified mining facility in Tbilisi where it’s based. This facility has managed to achieve 100% ROI in five months.

This indicates that the operation is up and running, proving it can grow, provided that the terminals are put into place and running. Having the whole of the investment concentrated on one spot means that the service team will be able to respond very fast in case something goes wrong.

Ambit plans to grow its operation to 20 MW through this project, having mining enthusiasts on their side and the support of the high-end technology manufacturers affiliated with the company.

While mining is very important for most blockchain-platforms, there is a new wave of decentralized distributed ledgers that have a pre-established number of tokens, pre-mined and they use variations of the PoW protocol, eliminating the need for miners.

Risks

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

  • While Georgia may be friendly to mining at the moment, it still is a very expensive and energy-consuming “sport” that might be changed or even faded away in the future. -1.5
  • Mining nowadays is not as easy and profiting as it was during the “golden” days of the blockchain. Major mining companies have already established plants that work for years, having a standard client database. Ambit Mining will have to work hard to attract new investors into their network. Even with the lowest prices of the market, that is a challenge. -2
  • In general, mining facilities are extremely vulnerable to natural disasters, and that does not exclude Ambit Mining from the list. For an example, an earthquake can be devastating for the company itself as the whole operation is relying on a single geo-location. -1
  • Ambit Mining’s native token, AMBT, does not offer anything out of the box, as there are infinite options already doing what AMBT is created to do. -2.5

Growth Opportunity

  • On the other hand, if considered seriously and programmed with technical craftsmanship, mining can be still one of the most profiting sub-sectors of blockchain technology. Ambit Mining seems to understand the specific market well with a series of transparency reports backing this fact. +2.5
  • Finding cheap operational fees in the sector is not a walk in the park. Whether Ambit Mining has chosen Georgia as their base due to the fact that it is their home country or the fact that it has cheap taxes, and electricity fees, it is one of their best key points for the moment. +3
  • Unlike most mining plants that are “decentrally centralized,” keeping almost half of the total token supply for the company, Ambit Mining is in position to share 85% of the total token supply with the community. +4
  • $0.5 per AMBT or any other token with a logical total token supply is more than just fair and it could bring an easy x4 to x5 just after the token enters the mainstream markets. +2.5

Disposition

Ambit Mining could be a profitable model for ICO investors or even blockchain investors, but we should consider the fact that mining will have to eventually upscale its model into a less consuming, energy-efficient platform.

The company, as well as the team, look really promising and wise on the sector, although relying your whole business plan on a single country, on a single location could lead to unpleasant surprises in the future.

A score of 5 out of 10 is reserved for Ambit Mining, based on present facts.

Investment Details

  • Type: Crowdsale
  • Symbol: AMBT
  • Platform: Ethereum
  • Pre-Sale: Apr. 20, 2018
  • Public Sale: May 10, 2018
  • Payments Accepted: ETH, BTC (KYC Required)

 Official Website

White Paper

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

Featured image courtesy of Shutterstock. 

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

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