The cryptosphere is growing larger and larger and with its growth comes a swell of companies that offer to manage crypto assets and make you more money when you use their services. These companies are now a dime a dozen. While they may claim that they have a new and innovative way to manage your funds, the details are obscure at best. For example, “Swissborg’s objective is to create a democratic, decentralized and professional ecosystem to manage your portfolio of crypto assets,” according to the white paper.
Swiss clocks are expensive, these tokens...not so much
While Swissborg’s ICO raised $50 mln between Dec. 7, 2017 and Jan. 10, 2018, its market cap is only at $5.9 mln, and the token price has lost 98.9 percent of its value starting at $0.91 per token and shooting straight down to $0.01 per token at the time of writing. It has not been very impressive. CoinMarketCap has it ranked at 496. Remember that not all that glitters is gold.
Cyrus Fazel- CEO & Founder
Fazel has a formal background in business and finance and has held senior and executive roles within various wealth management institutions before starting Swissborg in June 2015.
Anthony Lesoismier- CSE & Co-founder
Lesoismier has a background in fintech and finance. He has held various positions within this industry in several countries.
Micha Roon- Smart Contract Expert
On first glance, it seems he is part of the core team, however, when looking at the LinkedIn site, he is really just an advisor: “My role at Swissborg is to make sure the Blockchain is used securely and efficiently.” His main role is a senior Blockchain developer at Sweetbridge.
Tomas Hanak- IT Operations
Has more than 15 plus years experience in IT and IT operations management. He is leading the IT charge at Swissborg.
One hand, too many cookie jars
There are many various projects that Swissborg is tackling. The major difference is in the scope.
A focused company is likely to have a product built more quickly than one that is looking at everything. Swissborg is too spread out and that might make them slow to develop a working platform.
The roadmap on the website has three major milestones, but no expected completion dates. There is a second link that takes visitors to a Trello page with a so-called timeline, but that just happens to be a mess of weeds.
Not really sure what they are trying to communicate on the Trello platform.
Another major roadblock Swissborg faces are that banks are highly regulated and it will be very difficult for Swissborg to operate internationally across multiple jurisdictions. There is nothing in the whitepaper to describe how they will solve this challenge.
Yodling, cheese or chocolate making these are all very focused endeavors. Swissborg is all over the place on how it intends to manage wealth and grow. It faces a highly regulated industry with not much direction. There is not much else to say, but “Good luck!”