Bitcomo Basic Review
|Start ICO||01 Dec 2017|
|End ICO||16 Feb 2018|
Ticker symbol: BM
Project Type: Digital Advertisment/CPA
Extended description of the company: BitComo is a decentralized CPA (Cost Per Action) platform, part of an affiliate network based on blockchain using smart contract algorithms.
Company: Bitcomo LTD
Public ICO Start: 16.01.2018
Public ICO End: 16.02.2018
Duration of Tokensale (weeks): 4.4
Token Type: ERC-20
Total Number of Tokens: 170,000,000
Tokens Available on Sale (Pre-Sale + Public ICO): 122,400,000
Investment Goals: Marketing and development
Price of 1 BM: US$ 0.3
Accepted Payments: Bitcoin, Ethereum, etc.
Bounty: The program starts on October 23, 2017 and ends with the ICO.
Token Role: Functional
Team (number of persons): 14
Advisors and partners (number of persons): 8
Twitter: Posts: 32, followers: 13900
Telegram: Subscribers: 1260 (Russian and English groups)
Medium: Subscribers: 57
LinkedIn: Subscribers: 33
Facebook: Subscribers: 2119
YouTube: Posts: 3, Subscribers: 124
About the project
BitComo is a decentralized CPA (Cost Per Action) platform, part of an affiliate network based on Blockchain using smart contract algorithms.
Bitcomo will offer the following services:
- The realization of marketing campaigns using CPA.
- Sales of products or services.
- Ad clicks.
- Barrage and impression of banner ads.
- Providing statistics.
Bitcomo is part of a wider advertising network, an affiliate network which is a decentralized autonomous organization (DAO), where all holdings and advertising projects use the MetaHash token for payments. In addition to it being used by the project’s affiliate networks, MetaHash is a cryptocurrency that can be exchanged for any other cryptocurrency or currency.
Bitcomo is a self-reliant community of advertisers and publishers in which users can perform and conduct business without centralized functions and interact through smart contracts relying on the transparency of blockchain technology.
Sergey Raylyan — Project manager at Adsniper (approx. 3.5 years), IT manager at Atos (1.5 years), Head of the Information Technology department at Neotrade (2 years);
Oleg Dronov — Director at AD.ru, partner in "Bureau N5", head of the Digital Content at J'son & Partners Consulting;
Anastasia Pichugina — legal counsel.
Yekaterina Myznikova — legal counsel. Works for Honest & Bright Company Ltd.
Alexey Voronin — PR advisor. Former director of prospective projects at Delovaya Sreda.
Anplaw - legal partner.
Attracted investments: N/A
Based on our study we recommend purchase of the Bitcomo project’s ICO tokens. Currently, bonuses can be obtained when you purchase tokens at the pre-Sale or at the beginning of the crowdsale.
We believe that the project team has sufficient experience in developing CPA platforms. This draws attention to this project, as we can see from their internet profiles.
BM token holders will be able to pay for the platform's services. Tokens have an issuance limit, which could further increase their value.
Blockchain industry experts and an experienced team are involved in this project.
- The project has prominent founders and advisors.
- The project's principal team has already realized several projects (Adcombo, Adnow, Adpop, Payclick, and Adsniper.)
- The project has generally been favourably received by the blockchain industry.
- There is active growth of the target market for the project.
- The project has a number of working CPA platforms, and participation in the crowdsale is arguably not necessary.
Market and Industry
According to Statista data, the entire cost of Digital Advertising will increase to US$335.48 billion by 2020, due to an annual growth rate of 18%. The estimated (by Juniper Research) expenditure on digital advertising for the year 2020 is projected to be about US$ 285 billion, which confirms the amount of market growth.  
According to the white paper:
The market for online advertising will grow by 9.9%, and by the end of 2021, the market would be $116 billion. Thus, the digital advertising market will be larger than that of television advertising by more than 50% in 2021.
- According to an Ascend2 report, marketing experts expect that websites will be the most effective digital channel in 2017. This report was based on a survey of 265 marketing specialists (47% B2B, 35% B2C and 18% mixed) in December 2016.
- More than 600 million people are currently using adblock, which prevents advertisers from making full use of the internet's advertising potential. 
Comments: Based on the results of the above analyses, we note a fairly high growth rate for the selected advertising segment. This situation creates a possibility for the project to jump start in the market.
The project team already has experience in building CPA networks, for example, Adcombo.com . However, the popularity of Adcombo is now declining (a 74% drop in user activity in 6 months). 
In the course of our review, we identified the following competitor:
- RunCPA (https://runcpa.com/) is a Blockchain-based advertising network that connects business owners (advertisers) and traffic owners (publishers) and uses a CPA mechanism, with instantaneous payments in Bitcoin.
Summary: We believe that the RunCPA functionality is quite similar to Bitcomo’s. A representative of the Bitcomo project highlighted these differences with RunCPA:
- processing speed (a private unit operator has been created, with acceleration up to 500,000 QPS);
- A niche affiliate network concept for smart contracts and ICO.
Engineering features of the platform
The platform is built on Blockchain, using smart contracts and instant payments.
Escrow is used as a solution for outstanding payments.
Two node types are used:
- Nodes that process click flow (they receive inbound web traffic and are also used as signature nodes.)
- Nodes that store information on the blockchain.
The decentralized network connects advertisers and affiliates by caching and registering clicks and key statistical data using BlockChain. Bitcomo launches adverts for specific audiences which are interested in buying a particular advertised product or service.
Comments: The main feature as claimed by the creators, is speed and a high degree of reliability (Escrow, smart contracts).
In the future, as technology and data are being developed, it is planned to implement the following:
- 4th quarter of 2017 — smart contract development, commencement of main platform development, alpha test of Bitcomo platform.
- 1st quarter of 2018 - release of main Bitcomo platform — an alpha test, closed alpha testing with selected affiliates and advertisers, modification of self-service platform, closed beta testing, official release.
- 3rd Quarter of 2018 — optimization and scaling of the system.
- 1st Quarter of 2019 — white label smart contract release.
Comments: The roadmap presents a step-by-step development of the product. According to a team spokesperson the platform’s alpha test will be held in December 2017, by which time the version will be ready.
An empty module is represented on the open repository on GitHub:
However, you can find the smart contract code via the following link: https://gist.github.com/SRaylyan/a48f58fc5f1ddc603db7a1802fb46568#file-metahashtoken_v0_1_3_rc-sol.
We have analyzed the site and documentation for the Bitcomo project for sufficiency and consistency in order to make an investment decision.
The documentation includes the white paper. This is available in English, French, Indonesian and Spanish. The submitted document describes Bitcomo in sufficient detail. 
The website provides the following information: About the project, the public ICO, the team and answers to the most frequently asked questions. The site is available in English, Russian, Vietnamese and Indonesian. 
Summary: The documentation provides insight into the project.
Tokens to be released for sale (%): 72%
Public ICO Start: 16 January 2018
Token type: 16 January 2018
Accepted Payments: Bitcoin, Ethereum, etc.
Price of 1 BM: US$ 0.3
Crowdsale Period: 4 weeks, until 16 February 2018
The BM token is the main currency of the platform, and is used to pay for Bitcomo services and settlements between users of the platform.
Token limit: 170,000,000
The advantages of token holders are as follows:
- Token issuance is limited;
- Tokens also have a functional role on the platform, which allows to use its services and/or sell them to potential users.
Max Goal: US$37,000,000
Minimum Goal: US$10 000 000
Tokens are sold in several stages:
Pre-ICO: October 28, 2017 – December 1, 2017.
ICO: January 16, 2018 – February 16, 2018.
Comments: The number of tokens is limited. Additional tokens will not be issued. The project plans to place BM tokens on some exchanges; the team is negotiating with Bittrex, Houbi and Coinone. The purchase of BM tokens is done through https://app.metacash.io.
Program Distribution Scheme %% : The project has reserved 2% of the total number of tokens sold for the bounty program. The program operates on:
- Signatures: 25% of 2% of tokens sold.
- Transferring: 20% of 2% of tokens sold.
- Social Media: 35% of 2% of tokens sold.
- Blog: 20% of 2% of tokens sold.
Summary: The project has an extensive bounty program. The terms of the program are listed on the project website, and you can register for the program there too. The bounty will be distributed at the end of the ICO. If there are less than 50 participants in the bounty by the end of the ICO, the project will halve the reward fund in the campaign.
Token and capital distribution
Tokens and capital are distributed according to the following scheme:
Token and Capital Distribution Scheme
Summary: Tokens do not affect the distribution of shares in the company. The reward system is set up so that it is more advantageous to buy tokens earlier.
Project development plans
- 4th Quarter of 2017 — start of marketing campaign;
- 1st Quarter of 2018 — gathering user feedback, requests and voting on functions, development of the sales department, increase of the coverage of the main marketing campaign.
- 2nd Quarter of 2018 — Bitcomo network scaling in member countries 1, 2, 3, start of the direct marketing campaign and expansion of the publisher base, participation in conferences.
- 3rd Quarter of 2018 — launch of the platform in the form of a white label and franchise, Bitcomo party conference for affiliates, advertisers and publishers.
Summary: A description of the marketing campaign is provided in the white paper. The plans are ambitious.
The team consists of 14 people, as well as 8 advisors. Information on the principal participants of the team (LinkedIn) is as follows:
Ivan Karadzhov - CEО. According to FB: Co-Founder of Adpop Indonesia, formerly Team leader at Adnow, Vice president of SK Soyuz. There is no information about any previous experience on LinkedIn.
Alex Grus — Marketing Director. Development Manager at AdCombo (CPA platform).
There are 11 other people in the team.
Summary: The entire principal team indicates its affiliation with the project. However, on Linkedin, only 8 people indicate their affiliation with the project. The team is mainly from Russia, and has also the following experts: A financial manager, head of PR department, blockchain consultant, event director, director of publishing, managers of the following regional markets: CIS, Latin America, South-East Asia, USA, Pacific Region, EU countries.
Information about the project is available on Twitter, Facebook, Telegram, Medium, Bitcointalk, Reddit, Slack, VK, Instagram, Youtube. The team is communicating with users on social media and in forums. There is a bounty program.
The project is active on social media. The team answers users' questions in Telegram. News on Twitter, Facebook and VK are regularly updated; YouTube videos are posted. The format of articles indicates that they were ordered by the project as well as written by the community.
Comments: Interest in the project is gradually increasing. The main marketing campaign is deployed on Twitter.
Analysis of the site traffic based on Similarweb.com data showed:
Traffic Sources (Similarweb.com)
Comments: 97.85% – traffic from direct links, 2.15% – search traffic
Search traffic: 2.15%. 100% – "organic" traffic
Referral Links: -
Comments: There are no data on Similarweb. In the case of Alexa.com, traffic is 33,905 people per month and number of views is 135,630.
Summary: Based on available data on the project, it can be concluded that the interest of users in Bitcomo is growing. The team is leading an advertising campaign on social media (Facebook, Twitter, VK), communicates with users in Telegram, keeps a blog on Medium and posts videos on Youtube. The development team also participates in conferences. The project has many positive reviews on different internet resources.
You can contact the developers via the following links:
2. White Paper
5. About Bounty
The information contained in the document is for informational purposes only. The views expressed in this document are solely personal stance of the ICOrating Team, based on data from open access and information that developers provided to the team through Skype, email or other means of communication.
Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud.
We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.