Best ICO Reviews – ICOJudge – SimplyVital Health (HLTH)

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.”

You can also watch an introductory video about their Health Nexus solution here: https://youtu.be/VFtNYFeSj34 and about their ConnectingCare solution here: https://youtu.be/vch6DFI6Mb0

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.

PROJECT SCORE  9.50

Conclusion:

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.

Happy investing!

Best ICO Reviews – ICOJudge – Sentinel Chain (SENC)

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/coin, Sentinel Chain (https://sentinel-chain.org/):

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail?  0.75
Comments I liked the fact that (unlike some recent ICOs), Sentinel Chain “bothered” to make their whitepaper easily accessible right from the homepage. It’s surprising to me to see more and more (hyped) ICOs for which I have to use Google Search to find the whitepaper published using some obscure Reddit post or tweet. This document is the core of the project, people! Wake up!

Anyway, back to Sentinel Chain, they did a pretty decent job with their whitepaper, but the design and readability could definitely be improved, as well as the website itself. The whitepaper handles the use cases of the technology, the market potential, the token metrics and features, but it should also contain a properly depicted roadmap, a well-defined go-to-market strategy and more details about the tech itself.

In a nutshell, what Sentinel Chain does is:

“The Sentinel Chain is a global B2B marketplace for financial services accepting the use livestock as collateral. The Sentinel Chain addresses two main issues to be solved to allow the asset tokenization of livestock: First, the creation of a process that transforms livestock from ‘dead capital’ to a fungible asset with a transparent and clear defined value. Second, the creation of an open and transparent marketplace that connects the unbanked to the network of global financial providers.”

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 tokenization of livestock, using the magic of smart contracts. Finally, a blockchain project addressing the needs of rural population, a huge niche that will also need to be included in the blockchain revolution era. The use cases are very well laid out in their whitepaper. 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 Sentinel Chain is likely to be the “master of a single trade”, as opposed to many other ICOs that are aiming to build multiple products simultaneously with a few developers only. Sentinel Chain has a team of about 13 people, according to their website, all of them being focused on achieving the major goal of the project.

So, considering the size and quality of the team, I really have a good feeling that they will deliver as expected. Now, I may end up being wrong, but I tend to think the opposite in this case.

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 For some reason, I think about Sentinel Chain as some kind of OmiseGo of the rural landscape across the globe. Although there are quite a few projects that tend to solve the “banking the unbanked” issue, I don’t know any of them clearly focused on the rural niche of the population. So, although not 100% original as a concept, Sentinel Chain is definitely standing out when you consider the target of their work.
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 website’s homepage. So, let’s see some numbers:

Total supply: 500.000.000 SENC, which is at the upper limit of my sweet spot regarding the number of tokens, with only 200.000.000 SENC sold at ICO (pre-sale and crowdsale) which is also great. The hard cap is set at $14.4M, which is pretty decent as well. Considering the planned circulating supply and hard cap, the price per token will be somewhere below 20 cents, which is another sweet spot for me, personally.

Please note that the KYC and PoS starts on February 5th, meaning today 🙂 Regarding the crowdsale, their latest Medium post says “The SENC Token Sale will officially start in March 2018. We will release the exact date in February 2018.”

Source: https://medium.com/sentinelchain/sentinel-chain-token-sale-announcement-58eacb3fe0a5

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?  0.75
Comments The distribution stats are very well outlined in the whitepaper and on their website, showing a 40% of tokens available throughout the pre-ICO and ICO sale periods. Here are the exact figures regarding the token distribution.

Treasury and Reserve Fund 30%
Early supporters 20%
Private Sale 20%
Public Sale 20%
Founding team 10%

Since I find the best distribution to be around 50% for the public sale, I will award Sentinel Chain 0.75p here.

Item #7 Are there any current or announced partnerships with big names in the industry?  1
Comments One full point here for having VeChain as partners, since I am a huge believer in VeChain (disclaimer: I hold a masternode).

Moreover, Sentinel Chain partnered with Maybank (Malaysia’s largest bank by both market capitalization and total assets) and MediShares (the world’s first global marketplace for mutual aid), which are amazing additions to their partner portfolio.

Item #8 Is there any existing product/prototype/alpha version for this technology? (ICO website, GitHub)  0.25
Comments Sentinel Chain 1.0 alpha version will go live in Q1 2019, according to the roadmap, with beta testing starting out in Q2 2018. So, basically we should have a test version up and running very soon.
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.

Roy Lai, Sentinel Chain’s CEO and Founder, also CEO of InfoCorp Technologies, worked as a VP of Fixed Income at Royal Bank of Scotland and Disaster Recovery Manager at P&G. Need I say more?

Murli Manohar Jehan Mohan, Project Director at Sentinel Chain, works as a Senior Business Analyst for United Airlines and held a .Net Developer role at Cognizant, which is quite impressive.

Edwan Chian is a Business Analyst at Sentinel Chain and held several positions at huge names like HSBC, Maybank, CNBC and Fuji Xerox. Another great addition to the team, I must admit. 

Jamunadevi D works as a Project Manager for Sentinel Chain, having an extensive experience as a People Manager at HP and Team Leader at Allsec Technologies.

Among the many (great) advisors of Sentinel Chain, maybe the most prominent figure is Bo Shen, Managing Partner at Fenbushi Capital and ICO advisor to a number of great blockchain projects, one of them being WeTrust, a project that also has Vitalik Buterin backing them up.

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?  0.5
Comments Sentinel Chain already has a growing community (mainly due to VeChain Foundation’s tweets) on Telegram (over 11k active members), but still quite low on Twitter, with about 1.5k followers only. They should be more active on Reddit, Facebook and Twitter as well, given that these are among the first places people go to for finding information. However, their Medium posts are very well structured and quite informative, which brings their score to 0.5p here.

Given that Sentinel Chain is still in its infancy and the ICO is far from over, I find the overall community numbers pretty good, to be honest.

PROJECT SCORE  8.00

Conclusion:

Considering all the pluses and minuses above, I think 8.00 is a score that best describes the current state of this project / ICO. Yes, I will consider investing in this ICO, but it definitely needs a higher level of commitment by the team, especially regarding the marketing side of things, in a space where more and more great ICOs are emerging each and every day.

Happy investing!

Best ICO Reviews – ICOJudge – Sether (SETH)

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/coin, Sether (https://www.sether.io/):

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 (unlike some recent ICOs), Sether bothered to make their whitepaper easily accessible right from the homepage. It’s surprising to me to see more and more (hyped) ICOs for which I have to use Google Search to find the whitepaper published using some obscure Reddit post or tweet. This document is the core of the project, people! Wake up!

Anyway, back to Sether, they really did a great job with their whitepaper, by putting together a very well organized document, with a great level of detail, regarding both the use cases and the tech behind the project. It would’ve been nice to have the team and advisers inside the document, but I am willing to get over this minor flaw because they are all clearly listed on the website (https://www.sether.io/team-2).

In a nutshell, what Sether does is:

“Sether is platform that provides blockchain integration with social
network APIs, allowing any blockchain enterprise to communicate, get
information, analyze and monitor social networks.
The platform also provides custom analytic and monitoring capabilities
for blockchain operations and enterprises. Users can run custom
queries on social network data to get desired insights, find influencers,
see the reach of their posts, create watchlists to be notified when
certain events happen and see the sentiment for various social network
objects such as posts, messages, pages, events and more.”

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 online marketing and marketers, a multi-billion dollars industry, using the magic of smart contracts. The use cases are very well laid out in their whitepaper. Another 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 Sether is likely to be the “master of a single trade” (the best mixture between the “jack of all trades” and the “master of none”), as opposed to many other ICOs that are aiming to build multiple products simultaneously with a few developers only. Sether has a team of about 15 people (“and more…”, according to their website, whatever “more” means).

So, considering the size and quality of the team, I really have a good feeling that they will deliver as expected. Now, I may end up being wrong, but I tend to think the opposite in this case.

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 other projects that deal with the online advertising issues in the blockchain world, like AdEx and Basic Attention Token, but I somehow think that Sether is more focused on a particular goal, which is clearly defined in their documentation, while BAT and AdEx seem to aim to do multiple (maybe too many) things at once. And you know I have a problem with that, don’t you?
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?  0.75
Comments Before discussing any numbers, I must admit they’ve done a great job to summarize all the token information in the whitepaper. So, let’s see some numbers:

“Up to one hundred million (100,000,000) SETH tokens will be minted.”

Please note that the pre-ICO period will end on January 14th 2018 and the main token sale will begin the next day, up to Valentine’s Day 🙂

However, I don’t really like the high price of a token at ICO time: “The initial price of 1 SETH will be 0.003 ETH”, so about $3.465 (given the price of Ether at the time of this writing ~ $1155). The community had a pretty disappointing experience with Aventus, which launched at about $4 and barely made it to $5 after being stuck for months at $2-$3. This is not particularly relevant for me, personally, because I don’t do day trading, but for those who are it might prove to be a bit discouraging. According to recent stats I’ve seen, most people tend to invest in ICOs that are pricing their token between 10 cents and $1, hoping for bigger returns sooner.

And yes, I do measure token price in USD, not sats or ETH. Shoot me, right?

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 The distribution stats are very well depicted in the whitepaper, showing a 55% of tokens available throughout the pre-ICO and ICO sale periods:

“Therefore, the community will own 55%, the Company will own 35% and the Platform will own 10% from all minted tokens.”

Another thing to mention here: “Any unsold tokens in the pre-sale will go into the crowdsale”. The minimum contribution during the pre-ICO is 0.1 ETH.

During the ICO, so starting from January 15th, the metrics are:

SETH Tokens are intended to be sold at the following rates:
 Week 1: 375 SETH tokens for 1 ETH (25% bonus)
 Week 2: 360 SETH tokens for 1 ETH (20% bonus)
 Week 3: 330 SETH tokens for 1 ETH (10% bonus)
 Week 4: 300 SETH tokens for 1 ETH (no bonus)

Item #7 Are there any current or announced partnerships with big names in the industry?  0.25
Comments Sether is being backed up by an already established big data company, MWARE, founded in 2012, with over 50 employees and a member of Smart Alliance. However, I couldn’t find any huge partnerships on their website, so only 0.25p here.
Item #8 Is there any existing product/prototype/alpha version for this technology? (ICO website, GitHub)  0.75
Comments Sether 1.0 alpha version is to be released in January 2018, according to the roadmap. So, basically this month we should have a test version up and running. Here’s the Github page of Sether: https://github.com/mware-solutions/sether
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. This is a 100% Romanian team, which sounds very promising to me, given that I am very familiar with the Romanian software development market. Let me summarize this for you.

Ovidiu Oancea (CEO) has been the CEO of mWARE for the past 5 years and held several CEO / GM positions starting from 2000. He also holds an Executive MBA from Kennesaw State University.

Flavius Burca is the CTO of Sether and mWARE and a former Enterprise Solution Architect for the European Comission between 2011 and 2013. Flavius also worked for Computaris, Siveco, Alvarion and IBM as a Software Engineer, thus being a great addition to the Sether team.

Lucian Bumbuc (Infrastructure & Software Development) is the database guru of Sether and a former DB Administrator at Kapsch (a top Austrian IT company) and Team Leader at Continental, adding a lot of value to the project.

The most well-known adviser, investor and supporter of Sether is John McAfee himself (https://twitter.com/officialmcafee/status/950266882774458368). Need I say more?

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?  1
Comments Sether already has a growing community (mainly due to McAfee’s tweets) on Twitter (around 15k followers), Facebook (around 17k), Telegram (3.5k active members) and smaller groups on Medium (300+ followers), LinkedIn (600+) and YouTube (800+). They should be more active on Reddit as well, given that this is one of the first places people go to for finding information.

However, given that Sether is still in its infancy and the ICO is far from over, I find the overall community numbers pretty impressive, to be honest.

PROJECT SCORE  8.5

Conclusion:

Considering all the pluses and minuses above, I think 8.5 is a score that best describes the current state of this project / ICO. Maybe the highest score I’ve attributed to an ICO, to date. Yes, I will consider investing in this ICO, but it definitely needs a high level of commitment by the team, in order to make the idea a reality, in a space where more and more great ICOs are emerging each and every day.

Happy investing!

Best ICO Reviews – ICOJudge – VeChain (VEN/VET)

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 OVERALL 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/coin, VeChain. VEN has been flying under the radar since its ICO, but recently got some attention, after they made some huge announcements (https://medium.com/@vechainofficial/vechain-apotheosis-the-beginning-d9f0fdbdc910). Now, back to the review.

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail? 0.75
Comments Their whitepaper (which they claim it is not a whitepaper) can be found at https://cdn.vechain.com/vechain_ico_ideas_of_development_en.pdf. Also, the whitepaper can be found by doing a Google search, instead of being included in a “Documentation” or “Resources” section of the website. Nevertheless, the whitepaper contains key areas (which some ICOs seem to miss, sometimes) like team members and advisors, financial planning, governance structure and so on. The document lacks a proper roadmap, but we do have it outlined in their medium post (link posted above). And it’s quite impressive: new major exchange, rebranding, new partnerships, masternodes. For this reason and the ones listed at the beginning of this section, I think they don’t deserve a full point for their (not a) whitepaper.

Finally, I must say that an official, well-designed and very detailed documentation/whitepaper (however you want to call it) should be a part of their website, in my opinion, at least after they will be done with the rebranding and first release of the product.

Item #2 Do I feel like this technology will solve an existing issue? 1
Comments Yes, VeChain really aims to solve an existing issue.

According to their documentation, “The vision of VeChain is to build a trustfree
and distributed business ecosystem based on the Blockchain
technology self-circulated and expanding.”.

There is a great Reddit post about the pains VeChain is trying to solve, check it out: https://www.reddit.com/r/CryptoCurrency/comments/756e27/what_is_vechain_and_why_should_you_be_investing/

Item #3 Are there any founders / developers / special advisors with a solid background? 1
Comments VeChain’s team is really, really (I mean really) impressive.

Go through the team by yourself and draw a conclusion: 

The advisors are also strong. For instance, Bo Shen is already a big name in the cryptocurrency industry, being the General Partener of Fenbushi Capital and co-founder of ZCash, Qtum, BitShares and others. We also have the CEO (Nan Ning) and co-founder (Daniel Kelman) of BitOcean, a famous Japanese exchange, among the advisors of VEN / VET.

I keep saying VEN / VET because they are going to go through a huge rebranding process soon and their tokens will be converted to VET (VeChain Thor). Cool name, btw 🙂

Item #4 Is there a well-established and active community? (Slack, Telegram, Discord, Twitter and so on) 0.25
Comments VeChain definitely needs more marketing and a larger community, to raise awareness and push the price up even more.

Their Facebook and LinkedIn profiles are quite weak at the moment, but they do have a rapidly growing community on Twitter (over 7.3k followers at the time of this writing) and Telegram (over 4.6k users).

There’s definitely room for improvement here and I’m convinced they will invest the effort into this as soon as their rebranding process will be completed.

Item #5 Is the current price low enough to believe in a future 100x return? 1
Comments The current price of a VEN token is about $1.6 and it is at an all time high value. The price recently got a huge pump and it keeps rising steadily. They definitely need more volume and this volume will definitely increase once they will be listed on another major exchange, except Binance.

Will the price reach $160 at some point. It has the potential, as long as they keep working on the product and building more partnerships and as long as they keep their community engaged with the project.

As a side note. Do I see VeChain in the Top 10 on Coinmarketcap.com? Yes, I really do, BUT they need to really stick to their plan.

Item #6 How high is the circulating supply of coins? 1
Comments There are 867,162,633 VEN tokens in total, with a current circulating supply of 277,162,633 tokens, which is a promising figure for such an amazing team and project.
Item #7 Are there any current or announced partnerships with big names in the industry? 1
Comments VeChain is really one of the best projects in terms of partnerships. They have partnered with PwC and that is a HUGE thing (https://www.pwccn.com/en/press-room/press-releases/pr-150517.html). They are also working with Microsoft, Renault and rumors say BMW is on the list, as well. Also, they are going to officially announce a partnership with another giant: DNV GL, a $30B global quality assurance and risk management company.

And VeChain keeps saying there’s more to come. Very impressive here, too bad I’m limited to 1p here.

Item #8 Is there any existing product/prototype/alpha version for this technology? 1
Comments Yes, “VeChain was designed in Q2 of 2015. Since then it has rolled out multiple smart contract templates and its VeChain smart chip, which will be used to track all products on the blockchain. The VeChain smart chip is essentially an NFC chip, RFID tracker or QR code that tracks whatever it is attached to and protects them from tampering, counterfeiting and ensures that their entire life cycle is stored securely on the blockchain. It essentially makes it easy to track, collect, and store data that otherwise had to be inputted manually with great difficulty.” (source: Reddit post – link above).

Now, VeChain is aiming to release ” VeChain 3rd generation smart chips. BaaS (Blockchain as a Service) Cloud platform launches” and that is soon to come (check out their use cases using the Solutions tab on their website – https://www.vechain.com/).

Item #9 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 VeChain tries to solve a general issue for several different markets, like luxury goods, agriculture, auto or logistics. So, it seems they are focusing on creating a single technology that can be used across many domains and industries and that is a great approach. Also, their team is quite big and has a lot of potential, which enables us to trust that they’re gonna build this, no matter the obstacles. Furthermore, given that they already have a working (non-blockchain) product, a well-established name in the market and a huge pile of partnerships, really makes me be very optimistic about the success of this project.
Item #10 Does the Fibonacci retracement technique reveals a good entry point to buy right now? 0.75
Comments I don’t even need to do a Fibonacci retracement at this point, because it’s obvious that VEN’s price just hit an all time high level in the last couple of days. Theoretically, this is not a great moment to invest in a coin, BUT considering that they announced a big exchange listing coming up this month, the release of masternodes on December 21st and new partnerships starting January, I think there’s a good chance the price will continue to dramatically increase over the next few months, at least. Then, once the number of partnerships has grown, the community has flourished and the platform gets its alphe/beta versions released, I see VEN/VET jumping in price even more. Again, this is just my personal opinion, NOT a financial advice.

For all the above reasons, I will give VEN 0.75p at this point, although, technically, the Fib retracement tool shows me the opposite.

PROJECT SCORE 8.75

Conclusion:

VeChain is an amazing medium/long-term investment, considering the team and advisors behind the project, the platform they’re preparing to launch and the current token metrics. Improvements should be made regarding the community and overall marketing.

I have invested in VEN tokens recently and I really do believe that this project is currently flying under the radar, but it has great growth potential in the medium-to-long term.

Happy investing!
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Best ICO Reviews – ICOJudge – Raiden Network (RDN)

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/coin, Raiden Network (https://raiden.network/):

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail? 0
Comments Although it has some documentation (here, here and here), the Raiden Network didn’t bother to create a proper whitepaper before asking for funding. Actually, they have specified in their FAQ section that “Is there a white paper? Unfortunately not yet. We have been busy researching and developing the software. But a protocol specification is in the making and at some point, the final design will be presented in a white paper.”. Is this for real? This isn’t even a “whitepaper ICO”. The information is scattered all over the place. By far, this is the most disappointing ICO analysis I’ve ever made. Are we supposed to believe that this project will be fully implemented, given that they weren’t able to put together a whitepaper? Unfortunately, 0p is the least I can give here.
Item #2 Do I feel like this technology will solve an existing issue?  1
Comments The Raiden Network aims to solve the micro-transactions fees issue outside the blockchain (off-chain). According to their documentation: “Any transaction on the Ethereum blockchain comes at a cost depending on the transaction’s required computational resources. Accordingly, fees are largely independent of the actual amount of value transferred, be it ERC20 tokens or Ether itself. This makes on-chain transactions best-suited for medium to large value transfers, but less so for transactions on the scale of a few dollars or even fractions of a cent. […]The true strength of Raiden lies in its network protocol. Since opening and closing a payment channel between two peers still requires on-chain transactions, creating channels between all possible peers becomes infeasible. As it turns out, however, you do not need a direct payment channel between a payer and a payee if there exists at least one route through a network of channels that connects the two parties, as shown in figure 2. This network and its associated protocol for routing and interlocking channel transfers is called the Raiden Network.”
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)  0.75
Comments Raiden Network tries to solve a particular issue, as described above. The project aims to build three products: first, Micro-Raiden, which will be deployed on the Ethereum main net shortly, as they claim. However, “shortly” seems kind of vague, considering their ICO was supposed to be launched in March 2017 and here we are in late October. So they may have some problems estimating launch dates. The second product is the Raiden Network itself (still in development) and the third one is Raidos (“currently only in its planning phase and development has not been kicked off yet”), a “sidechain technology to generalize state channels”. Will they be able to build all that’s been promised? We shall see.
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?  0.25
Comments There are lots of “low-fees, instant payment systems” being launched nowadays, so the idea behind Raiden is not that unique. However, trying to build an off-chain micro-payments system might prove to be a differentiating factor.
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 The total number of RDN tokens will be 100,000,000, with just 50,000,000 tokens available for public acquisition. Such a small token supply is definitely a plus for Raiden Network, compared to more and more ICOs launching billions of low-value tokens in the market.
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?  0.25
Comments 50% of the total supply of tokens will be “reserved for early supporters, development grants, long-term protocol advancement and ecosystem support, BBLE and Affiliates”. Are the “Early supporters” the whales that will dump the tokens on EtherDelta right after the ICO? We shall see. Anyway, kind of a big percentage of tokens reserved for non-public purchases.
Item #7 Are there any current or announced partnerships with big names in the industry? 0
Comments Haven’t found any.
Item #8 Is there any existing product/prototype/alpha version for this technology? (ICO website, GitHub) 0.75
Comments Yes, they do have a prototype of Micro-Raiden on their GitHub page at https://github.com/raiden-network/microraiden, but, as stated above, the other two products are still in the development/planning phase. Also, the project doesn’t seem to have a clearly defined roadmap. Yes, one with some actual dates, like Q1 2018, Q3 2056, you know… And if they do have such a roadmap, they’re doing a hell of a good job hiding it.
Item #9 Are there any founders / developers / special advisors with a solid background in the industry or in blockchain technology?  0.75
Comments Now, seriously, they don’t have a whitepaper on their website. Did you expect to see any team members listed anywhere? In their FAQ section, they do mention that Raiden Network is developed by Brainbot (http://www.brainbot.com/), which is a 17 years old German company, founded by Heiko Hees, having 20 employees listed on LinkedIn.

 

Heiko Hees does seem to be a superstar, being the founder of Brainbot and an Ethereum Core Developer.

 

Eleftherios Karapetsas is a Senior Software Engineer and Team Lead at Brainbot, also a (former) Ethereum developer and Software Developer at Oracle.

 

Philipp Seifert is the Asia Business Lead at Brainbot, a former Financial Services Consultant at PwC and Intern at BNP Paribas.

 

The other team members are not superstar-ish, so I won’t mention them here.

Yes, the hype around Raiden can be traced back to its founder being a Core Developer at Ethereum, but why not mention that in a dedicated Team section on the website? Beats me.

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?  0.25
Comments The Twitter page is not active on a daily basis and has just over 3.5k followers, which is pretty low for such a hyped ICO. Their riot.im communication channel hosts about 1600 (not-so-engaged) members at the time of this writing, so not very impressive, unfortunately. The team should really work on growing the community and keeping people up-to-date with the status of the project, to build a large group of fans and supporters, not coin-flippers, otherwise, it may find itself in a “pump-and-dump” scenario the second the token hits the exchange.
PROJECT SCORE  5

Conclusion:

Maybe one of the weakest ICOs I’ve had the chance to review, not necessarily because of the project, token metrics or team, but the website, lack of whitepaper, information gaps, and low community numbers. Will I invest in this ICO? Definitely NOT. However, the sale is ongoing, so if you want to contribute to this project, please refer to https://token.raiden.network/

 

P.S.: For crying out loud, learn to put together a whitepaper, website, social media presence and communication channel, before asking people to invest in your project! It’s common sense, people! Don’t know what it takes to have it all in top shape? Check out my ICO Services here and ping me at judge@icojudge.co and I’ll help you.

 

Happy investing!

Best ICO Reviews – ICOJudge – Cashaa (CAS)

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/coin, Cashaa (https://cashaa.com/):

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail?  1
Comments Although not easily accessible on their website (I had to search for it on Google), Cashaa’s whitepaper is a very well-crafted document, which starts with an Executive Summary (the equivalent of an Abstract section), that paints the overall picture of the current financial landscape, payment systems and banking products. Next, the whitepaper describes Cashaa’s vision existing and future products, milestones achieved, partnerships, team members, roadmap and many other key sections and most whitepapers today fail to include. In a nutshell, Cashaa aims to implement a “blockchain-based payments system aims to lower financial inclusion barriers and provide financial services to the banked and unbanked“, on top of “a robust AI driven blockchain infrastructure which can make the legacy system obsolete”. This objective sounds quite ambitious and interesting, as well. Overall, the whitepaper is very clear and touches on most (if not all) of the key points that you have to know about a project.
Item #2 Do I feel like this technology will solve an existing issue?  1
Comments Yes, this technology aims to solve the issue of people (around half of the world’s population) not having access to payment & banking services. Citing their whitepaper: “More than 3.5 billion people are still unbanked or underbanked and have few opportunities to have a safe and secure way to participate in the global economy.”.
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)  0.25
Comments At the moment, Cashaa has several products planned as part of their portfolio: Cashaa Wallet, Physical & Virtual Cards, Micro Lending, Peer-to-peer exchange (already beta-tested) and Peer-to-peer insurance. So, 4 products are still to be built and one has been beta-tested. Now, from what I see on their website, they have 11 team members and 11 advisors. Also, inside the whitepaper, they claim that in September 2017 the “Team size grew from 2 to 25 in one year with top people from Belgian Central Bank, MIT, IIT, Quatrro, First National Bank, Rand Merchant Bank, Microsoft, SAP, World Bank, World Economic Forum, Qualcomm and many more”. However, besides the fact that the numbers don’t really add up, it’s common sense we cannot include advisors in the team. It would’ve been really nice if Cashaa told us how many actual developers are in the team, because, no matter how many CFOs and Marketing experts they have, developers are the ones building those 5 products, right? So, not knowing the number of programmers behind the project and their background/skills and considering the scale of their future plans, I am not very convinced that trying to be the jack of all trades is the best strategy to have. However, if I am wrong at this, I would advise Cashaa’s team to tell us a bit more about their dev team.
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?  0.25
Comments There are also other projects in the cryptocurrency space that are trying to address the same issues, either partially or totally. For instance, since Cashaa tries to build several products quasi-simultaneously, there may be other projects that are focusing on one thing only (i.e. Peer-to-peer insurance) that can easily surpass one of Cashaa’s products. For instance, Cashaa is trying to build a great all-in-one wallet, but Bitquence is doing the same thing right now. Physical cards – we already have well-established names like TenX, Centra and Monaco. For Micro Lending there are WeTrust, SALT, Everex, if not even more. Insurance – WeTrust, again. Peer-to-peer exchange – there’s a new one coming out every week. Futhermore, the “Unbank the Banked” or “Bank the Unbanked” slogan became kind of mainstream in the last couple of months, and big players like OmiseGO are not to be ignored. Decentralized payment processing – there is Monetha, which is very promising. So, the landscape looks more and more crowded in the financial services ICO realm. I’m not saying there’s no more room for great projects, but those that focus on building one great product at a time have the most chances for long-term success, in my opinion.
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 in one easy-to-analyze table, inside the whitepaper. Unfortunately, not many teams bother to provide a clear picture of the token metrics. Now, back to the numbers, there will be a total of 1 billion CAS tokens, of which 51% will be available for the public sale. The starting price will be $0.10 for 1 CAS. These numbers are more than decent, considering we have a 9-figures supply ahead. Important to mention about the token sale (starting November 6th), there will be a KYP/KYC mechanism in place: “Full KYC including the identity and residency proof”.
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 Yes, a number of tokens available at sale time is reasonable (51%). There are an additional 24% of tokens for the company, 20% for the team and advisors and 5% for the community (things like bounty programs).
Item #7 Are there any current or announced partnerships with big names in the industry?  0.75
Comments The partnerships Cashaa has are pretty strong and the number of partners is rather high – Auxesis (“for the AuxLedger which has 53 Million users resulting of a State Government partnership” with the Government of India), Coinfirm, TokenMarket, Celestial Holdings, Airbitz (Bitcoin wallet) and many more. However, there aren’t any partnerships with Fortune 500 companies or anything alike.
Item #8 Is there any existing product/prototype/alpha version for this technology? (ICO website, GitHub)  1
Comments As I previously mentioned, they do have a peer-to-peer exchange which is already beta-tested, with traders from 141 countries registered and 97 different currencies.
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. Let me summarize this for you.

 

Kumar Gaurav (CEO) is among top 100 most influential people in the world who are leading the evolution of Blockchain and was awarded Extraordinary status ( O1 visa) by United States government. He is also a co-founder of Darwinsurance (acquired by Esedra), Chairman of Auxesis, India’s first enterprise Blockchain company and former Project Engineer at Wipro Technologies.

 

Celestine Vettical (Co-founder) is a former CEO of Perfomix – A Baker Hughes Company, VP of Strategic Alliances at Cognizant (NASDAQ: CTSH), Worldwide Director of Manufacturing Industry Solutions at Microsoft and Director of Business Development at SAP. Amazing background for this guy, I must admit.

 

Simo Mcunu (VP Sales – Africa) caught my attention because of his experience as a Corporate Banking Analyst at FNB and also Rand Merchant Bank, two of the largest banks in South Africa. Simo also holds a BS Degree in Business Science and Management from the University of Pretoria.

 

Now, for some of the advisors:

 

Bernard Lietaer, also known as the “Architect of the Euro” for designing the ECU, while he was at the Central bank of Belgium, is also the well-known author of “The Future of Money”. More info here: http://www.lietaer.com/about/bio/. Bernard is definitely a great addition to the advisory board of Cashaa.

 

John Henry Clippinger is a Reasearch Scientist at MIT (subject: Trust Frameworks for open mobile platforms), Big Data Working Group Member at the World Economic Forum and Advisor for the Bancor Foundation. He also holds a PhD in Computational Linguistics and AI from the University of Pennsylvania.

 

Anil Earla is the Head of Information and Data Analytics at Visa for over 5 years now and holds various degrees from the Harvard Business School, Stanford University School of Business and Jackson State University (MS in Computer Science).

 

Dinesh Prasad is a Senior Director of Sales and Business Development at Qualcomm India and former Manager of Technical Sales at Ericsson India, so he is yet another great addition to the team of advisors at Cashaa.

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 Although not even launched, Cashaa has a great number of followers on Facebook (over 4k) and Twitter (over 5k). However, their Telegram and Discord channels are pretty low when it comes to members and activity – a few hundred members on each, with not too many posts, discussions, and announcements. Their LinkedIn and YouTube profiles are still in their infancy. However, given that the ICO hasn’t even started yet, they seem to be spread across multiple social media channels right from the beginning, and I think there’s definitely a lot of room for growth. One thing to mention here, I think at some point they may have to decide on either Telegram or Discord as their main communication channel.
PROJECT SCORE  8

Conclusion:

Considering all the pluses and minuses above, I think 8 is a score that best describes the current state of this project. Yes, I will consider investing in this ICO, but it definitely needs some improvements and a high level of commitment by the team, in order to make the idea a reality, in a space where more and more great ICOs are emerging each and every day.

Happy investing!

 

 

Best ICO Reviews – ICOJudge – WeTrust (TRST)

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 OVERALL 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/coin, WeTrust. TRST has been flying under the radar since its ICO, but recently got some attention, after Vitalik Buterin confirmed he really is an advisor for this project. I said “really”, because there were several ICOs lately, claiming they have Vitalik on board, which turned out to be false. However, OmiseGo, Kyber Network and WeTrust really have the iconic figure in their team of advisors. Now, back to the review.

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail?

0.75

Comments I am assuming that their whitepaper (https://bravenewcoin.com/assets/Whitepapers/WeTrustWhitePaper.pdf) is a bit outdated since I didn’t find any references to Vitalik in the Advisors section of the document. Also, the whitepaper can be found by doing a Google search, instead of being included in a “Documentation” or “Resources” section of the website. Nevertheless, the whitepaper contains key areas (which some ICOs seem to miss, sometimes), like a clear roadmap (yes, one with actual estimated dates), team members and advisors, market analysis, budget structure and so on. The go-to-market strategy outlined in the whitepaper looks very floppy, though – not much thought has been put into this or they haven’t had any appetite for outlining in more detail. For this reason and the ones listed at the beginning of this section, I think they don’t deserve a full point for the whitepaper.

 

Item #2 Do I feel like this technology will solve an existing issue?

1

Comments  

Yes, WeTrust really aims to solve an existing issue. According to their whitepaper, “WeTrust is a collaborative savings, lending and insurance platform that is autonomous, agnostic, frictionless, and decentralized. WeTrust utilizes the Ethereum blockchain to create a full-stack alternative financial system […]”. This will result in lower fees and risk and a wider financial adoption worldwide.

Item #3 Are there any founders / developers / special advisors with a solid background?

1

Comments WeTrust does have a superstar team behind it, no doubt about that.

George Li is the CEO of WeTrust and has served as Program Manager for Google, Consultant for McKinsey & Company and Engineer for Verizon and Motorola, which is quite impressive.

Patrick Long is the COO of WeTrust, former Accountant at RMS and member of the Assurance Staff at EY, which is a global leader in assurance, tax, transaction and advisory services. He holds a BS Degree in Economics from Berkeley.

Tom Dimopoulos is another superstar here, holding the VP of Product position at WeTrust. He is a former Google employee (4 years), specialized in mobile products and a Lab and Residential Computer Consultant at Columbia University.

Hoang Nguyen is the VP of R&D at WeTrust and a former Senior Software Engineer at PayPal and Researcher at UC Berkeley. He holds a MS Degree in Systems Engineering from the same university.

In this advisors arena, we find Vitalik Buterin (nothing more to add here), Bo Shen (Founding Partner of Fenbushi Capital) and Brian Hoffman (Founder & CEO of OpenBazaar/OB1), among others.

Item #4 Is there a well-established and active community? (Slack, Telegram, Discord, Twitter and so on)

0.25

Comments  

WeTrust definitely needs more marketing and a larger community, to raise awareness and push the price up a bit. Their Twitter page isn’t as active as it should be (no daily posts, updates, retweets, mentions), having just over 10k followers. The Facebook community is way too small, with only 2k+ likes. Their subreddit brings together only 875 readers at the moment, but their Medium blog has almost 2k followers. Their Slack channel has several thousand members, from what I see, however it doesn’t look to be the most active Slack community out there. It seems that announcements are made every week, which is decent and the #general channel is pretty active.

Item #5 Is the current price low enough to believe in a future 100x return?

1

Comments Yes, the current price for 1 TRST is $0.278, having an all-time high at around 50 cents. If the team and advisors really make this project a reality, then yes, I truly believe in a huge return a few years from now.

 

Item #6 How high is the circulating supply of coins?

1

Comments There are 100,000,000 TRST in total, with a current circulating supply of 92,147,500 tokens, which is a promising figure for such an amazing team and project.

 

Item #7 Are there any current or announced partnerships with big names in the industry?

0.25

Comments WeTrust should really bring more partners on board to get things rolling and capture people’s attention. They currently have a partnership with DigixGlobal, a company putting digital gold tokens on the Ethereum blockchain, based in Singapore. This is the only partnership I found for WeTrust.

 

Item #8 Is there any existing product/prototype/alpha version for this technology?

1

Comments Yes, check out this page https://tlc.wetrust.io/ (the website for this platform is coming soon) and their GitHub profile at https://github.com/WeTrustPlatform

 

Item #9 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 Although WeTrust aims to solve several issues by building a full-stack alternative financial system, comprised of several features, they are currently focusing on just building the Trusted Lending Circles platform (https://tlc.wetrust.io/) and that’s best for creating a strong and stable full-stack product, in the end.

 

Item #10 Does the Fibonacci retracement technique reveals a good entry point to buy right now?

1

Comments  

Considering the Fibonacci retracement results and the current cryptocurrency landscape of October 2017 (with an upcoming Bitcoin fork and people pulling their money out of altcoins), the price of the TRST coin is at a great level (support at the 78.6% level) for buying and accumulating.

PROJECT SCORE

8.25


Conclusion:

WeTrust is a good long-term investment, considering the team and advisors behind the project, the platform they’re preparing to launch and the current token metrics. Improvements should be made regarding the community, partnerships and overall marketing.

I have invested in TRST tokens recently and I really do believe that this project is currently flying under the radar, but it has great growth potential in the long-term.

Happy investing!
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