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Past-ICO Review: Laughing All the Way to the Crypto Bank

  • Eric Eissler
    🕵️‍ ICO Watch

    While banks are not really needed for decentralized crypto, this company thinks otherwise, you may need a debit card or two


Past-ICO Review: Laughing All the Way to the Crypto Bank
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In the cryptosphere, which pushes for decentralization and independence from large financial institutions, it appears odd that crypto banks, a centralized institution, would appear.  Sure, you have a wallet and you can keep your crypto there, but you will still need exchanges to buy and sell until atomic swap technology is more widespread. But Bankera is offering more than just an exchange, it is offering debit card and real-time transactions. Most traditional banking technology is antiquated, especially in the US. For example, if you make a debit card purchase over the weekend it might take until Tuesday to clear- that is a long time to wait. Crypto-based transactions are instantaneous.

👉MUST READ Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token
Past-ICO Review: We Be Jammin’ But We Don’t Know the Value Of Our Token

Financials

Bankera ran a long ICO from Nov. 27, 2017 to March 1, 2018 and raised a massive $150 mln in funding. However, the fundraising goal of $215 was not met. The bar was indeed set high for funding. The token is and ERC20/NEM based-token designed to operate on both Blockchain platforms. Despite the positives that the company touts, not having a market cap defined on CoinMarketCap is a red flag. Its daily trading is around $100,000. The token price is negligible at $0.002402.


Team

Vytautas Karalevičius - Co-Founder (also Co-founder of SpectroCoin)

Vytautas is currently completing a Ph.D. in Cryptocurrencies at KU Leuven University in Belgium. Prior to that, he received an MPhil degree in Finance from Cambridge University. He has interned at Bloomberg.

Mantas Mockevičius - Co-Founder (also Co-founder of SpectroCoin)

Mantas has more than eight years of experience in managing operations and compliance for electronic and digital money exchanges. He holds a Bachelor’s degree in Economics and Master’s degree in Finance.

Justas Dobiliauskas - Not listed (CTO of Spectro Finance)

Justas has nine years of experience in developing software for medium and large financial institutions as well as five years of experience working with Blockchain technology and cryptocurrencies.

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Risks and dangers of the project

Not every team member specifies that they work with Bankera in their LinkedIn profiles. There appears to be strong preference for SpectroCoin over Bankera. Furthermore, the project has no open platform algorithms or open repository, having a public repository is important for building trust with the public in the crypto sphere.

Finally, there is little information and few figures relating to the market in the official documentation. This combined with poor market performance, an undefined market cap and teams preferring more interest in SpectroCoin, make the Bankera project shaky.

SprectroCoin info

SpectroCoin is a partner for process and infrastructure, founded in 2013. It is an active cryptocurrency exchange platform with the facility to order a VISA card that has more than 300,000 users. Bank cards would be issued from this partner, which most of the founders of Bankera are associated with.

There is much work left to be done before most of the product goes live. The exchange is still not operational, slated for the second half of 2018, and the wallet was recently launched earlier this year. However, 2019 and 2020 are some key years for the rest of the components to go online.

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Past-ICO Review: Alternative Facts and Truths Abound

Cover image via u.today
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The Top Rate ICO Industries in 2018

  • Stavros Georgiadis
    📊‍ Infographics

    Investing in ICOs requires due diligence and analysis of potential risks and returns.


The Top Rate ICO Industries in 2018
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Investing in ICOs requires due diligence and analysis of potential risks and returns. CoinDesk is its article named “The Seven Pillars of ICO Investing” has listed the most important pillars to consider before deciding to invest or not on any specific ICO project.

These 7 Pillars are the following:

  1. Team
  2. Idea
  3. Execution
  4. Legal/Regulatory Framework
  5. Tokenization
  6. ICO Structure
  7. Price Divers

What is interesting and should not be surprising though in the ICO investing is the fact that business models and marketing, promotional channels differ significantly in the amount of fundraising, as some business categories have in general twice the median funding compared to the smaller ones. The following statistic may be useful to investors as it represents the ICO categories with highest median funding. A higher amount of funding may be justified by future business prospects about what investors believe are the most promising trends that could be deliver desired returns on investments given the risks taken.


Categories with highest median funding in 2018:

  1. Blockchain Infrastructure
  2. Internet & Telecommunications
  3. Computing & Data Storage
  4. Data Analytics
  5. Asset Management
  6. Legal Services
  7. Social Media & Communication
  8. Supply & Logistics
  9. IT
  10. Identity & Reputation

These business categories are referenced not in random order, but from highest to lowest order of median funds raised. The Blockchain Infrastructure category has the highest median funds raised at $ 7,012,289, while the Identity & Reputation category has the lowest median funds raised in 2018 at $ 3,750,000. The first and last business categories have a significant difference between them in terms of median funds raised as the Blockchain Infrastructure category is 87% larger than the Identity & Reputation category.

Another key interesting statistic in ICO investing is the geographical distribution of projects fundraising in the third quarter of 2018. The following infographic shows that there are again very large differences within continents. Europe and specifically Russia with $ 182.9 Million was the largest market, Israel with $19.6 Million was the smallest market, while South Korea witnessed a significant drop in fundraising as according to ICORating, in Q3 2018, 17 projects with South Korean origins raised USD 68 million, compared with 16 projects and USD 301 million in Q2 2018.

Geographical distribution of projects based on origin of the project team, Q3 2018

Geographical distribution of projects based on origin of the project team, Q3 2018

Country of origin means a country in which more than 50% of team members were living at the time of an ICO.

Another point worth mentioning is that in Q3 2018 USA had the largest number of projects compared to all mentioned countries in the above infographic, still Russia with a smaller number of projects, 63 was as mentioned the largest market.

Cover image via u.today
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