Hey, welcome back to a brand new episode of ICOJudge, brought to you by me, Mihai Catalin Teodosiu, your favorite programmer, entrepreneur, and cryptocurrency enthusiast [LinkedIn] and ICOJudge.co, the best ICO and cryptocurrency assessment service in the world!
Full disclosure! The reviews I write on my blog are 100% independent from any ICO influence, being solely my own opinions about whether an ICO or existing coin is worth any investment on my behalf or not. As always, this is not financial advice, I am not a financial advisor!
Since my first cryptocurrency reviews, I have refined the reviewing process, keeping my 10 steps intact, but making the scoring system more granular. Each item in the list is assessed either as Great (1p), Good (0.75p), Bad (0.25p) or Missing (0p).
Finally, the total score for each ICO or existing coin is calculated as the average of the scores for each item in the list.
Also, a comments section is provided for each criterion, providing further insight, if necessary.
As a personal preference, I decided to invest only in ICOs or existing coins that score over 80% (On Track or Low Risk, according to my system), no matter what people say, no matter how great the hype is or any other kind of word-of-mouth thingy that gets noobs overly excited. Yes, I really do practice what I preach.
|ICO / Coin Review|
|SCORING SYSTEM||TOTAL SCORE||STATUS CODE|
|90.00% – 100%||On Track|
|80.00% – 89.99%||Low Risk|
|70.00% – 79.99%||High Risk|
|<= 69.99%||Off Track|
Here’s my review for today’s ICO, SimplyVital Health (https://www.simplyvitalhealth.com/):
|Item no.||Item Name||Item Score (points)|
|Item #1||The whitepaper. Is it clear and describes the project in detail?||1|
|Comments||I liked the fact that the SimplyVital Health team decided on a pretty good way to structure their documents, releasing a whitepaper (https://docsend.com/view/cuufmc5) which covers the technical details of the project, a summarized paper called the litepaper (https://docsend.com/view/2zzz7pi) and also a pitch deck (https://docsend.com/view/si38qut). This breadth of documents paints a great overall picture of the solution that SVH brings to the table.
In a nutshell, what SVH’s solution does is:
“Health Nexus is an open-source blockchain protocol that provides a more efficient, trustworthy and secure path for the data to travel.
Whether its patients to providers, pharmaceuticals to researchers, or supply chain to consumers, Health Nexus opens up a whole marketplace for innovation in data transfer for the healthcare community.”
|Item #2||Do I feel like this technology will solve an existing issue?||1|
|Comments||Yes, this technology aims to solve a huge issue with the inconsistencies and inefficiency of the current healthcare data landscape. Healthcare information management is provided for both patients and healthcare providers, like hospitals. The ConnectingCare solution allows the tracking of patients after they leave the hospital and the communication with different healthcare providers, also estimating any costs and savings that the healthcare providers might benefit from in the future. All the use cases are very well laid out in their documentation. A full point here.|
|Item #3||Does the technology solve a particular issue or tries to be the jack of all trades? (not to be confused with Item #2. Here, it’s very important to me if the team tries to address a particular problem and do it well, rather than trying to build X apps and platforms all at once, which can be counterproductive, especially when having a small team or budget)||1|
|Comments||SimplyVital Health is aiming to be the master of the healthcare data management industry and, considering the high quality of the team and the large number of amazing advisors who fully support the team’s efforts, I am almost convinced that they will stay focused on polishing the ConnectingCare platform and deliver the expected results.|
|Item #4||How original is the idea behind the ICO? Any other strong competitors? How can this product be a step ahead of its competition? What sets it apart from other ideas or projects?||0.75|
|Comments||There are definitely some good competitors in the space of healthcare information management, especially with the recent rise of Medical Chain or MediBloc. And there a more to come in the next few months, from what I’ve seen. But the main advantage SVH has over its competition is an existing, working blockchain platform, which is a rare thing to find in pre-ICO stages, nowadays.|
|Item #5||What is the number of tokens issued at ICO time? What is the total number of tokens? How do these numbers impact the price in the future?||1|
|Comments||Before discussing any numbers, I must admit they’ve done a great job to summarize all the token information on their token sale page (https://token.simplyvitalhealth.com/). So, let’s see some numbers:
Total supply: 200.000.000 HLTH, which is a very decent number of tokens, with only 120.000.000 HLTH tokens sold at ICO, which is also great. The hard cap is set at $25M, which is pretty decent as well considering that I’ve recently seen social media marketing ICO’s asking for $40M, which is kind of ridiculous. Considering the planned circulating supply and hard cap, the price per token will be around 20 cents, which is another sweet spot for me, personally.
By the way, the sale registration form is still open at the time of this writing: https://token.simplyvitalhealth.com/#signup
|Item #6||What are the token distribution stats? Is there a reasonable number of tokens available for public sale, compared to the total number of tokens? Are there too many tokens reserved for other purposes besides public sale and use?||1|
|Comments||There are 60% of tokens available for sale throughout the pre-ICO and ICO sale periods, which I think is a very fair percentage. Unfortunately, some ICOs today think they should get 80% of tokens and sell only 20% to the community and investors, which is an insult, really. Cough, Endor, cough. But that’s another story for another day.
Since I find the best distribution to be around 40-75% for the public sale, I will award SimplyVital Health one full point here.
|Item #7||Are there any current or announced partnerships with big names in the industry?||1|
|Comments||One full point here for having the Yale Entrepreneurial Institute as partners.
Moreover, the rumour says that more academic institutions are going to join SVH’s project in the near future.
|Item #8||Is there any existing product/prototype/alpha version for this technology? (ICO website, GitHub)||1|
|Comments||Yes, as I already mentioned: ConnectingCare.|
|Item #9||Are there any founders / developers / special advisors with a solid background in the industry or in blockchain technology?||1|
|Comments||The team is quite impressive, if you look through the names and their background. I noticed at least 4 team members having worked for some major names throughout their career. Let me summarize this for you.
Katherine Kuzmeskas, SVH’s CEO and Co-Founder, has held several positions at Yale New Haven Hospital/Health System and various other management / leading roles at Teach for America, IDEA Public Schools, and others, thus having an in-depth experience in management.
Lucas Hendren, CTO at SVH, has been a Lead Blockchain Engineer at CapitalOne, a leading banking company in the US. Lucas is also an advisor at BitClave on blockchain development matters.
Jake Dreier is a Director of Growth and Operations at SimplyVital Health, ex-manager at Teach for America, also holding an MBA from Yale University.
Kenny Rabin Winn is an ex-Director, Respiratory Care at the Yale New Haven Hospital, also ex-Director of the MedStar Georgetown University Hospital and Carolinas HealthCare System. His LinkedIn profile shows a huge experience in the healthcare system, thus making Kenny an amazing addition to SVH’s team.
SimplyVital Health’s advisors can and will bring a lot of value to the project especially because some of them have lots of years of experience in the healthcare or blockchain industries.
Here’s a full list of team members: https://www.simplyvitalhealth.com/team
|Item #10||Is there an active online community? (Slack, Telegram, Discord, Twitter, Facebook) Are people talking about this ICO on YouTube? Is there any hype around the project?||0.75|
|Comments||SimplyVital Health already has a rapidly growing community on Telegram (over 14k active members) and on Twitter, with amost 8k followers. They should be more active on Reddit, Medium and Facebook, given that these are among the first places people go to for finding information.
Given that SVH is still in its infancy and the ICO is far from over, I find the overall community numbers very good, to be honest.
Considering all the pluses and minuses above, I think 9.50 is a score that best describes the current state of this project. Yes, I will definitely invest in SimplyVital Health, given that it’s the highest score I’ve ever attributed to an ICO since starting this blog.