The Catalyst Project Review
- Name: Equi platform
- Ticker symbol: EQUI
- Project type: Decentralized search engine
- Country: Georgia
- ICO: 15/08/2017
- Soft cap: 550 BTC
- Hard cap: 12950 BTC
- Token: WAVES DEX
- Bonus structure: No information available
- Referral system: No information available
- Open source: Not open-source
- Team size: 2, plus 0 advisors.
- Developer team active: No information available.
- GitHub: No information available.
- Wiki: No information available.
- Slack: No information available.
- Twitter: +487 followers
- Reddit: No information available.
- YouTube: No information available.
EQUI is a natural intelligence-based two-way search engine. This service can be explained by comparing it with a standard search engine:
Users usually type an enquiry in using keywords, and the system gives several relevant source pages. The user then looks through the given websites searching for the necessary material. The search follows a direction from general to specific matters.
EQUI wants to replace computers with true network participants. The user sends an inquiry with a description and theme. He pays a charge with EQUI tokens. Other users being experts in the fixed subject can answer the given question and get remuneration. A two way search is a specific-to-specific approach.
The service is intended to be monetized by paid subscription.
The EQUI Platform would most likely be in demand among the B2B networking community – representatives of small businesses. The platform is an example of outsourcing. It could also work as a B2B trading platform. It would be very useful in certain cases such as making and fulfilling orders for delivery of equipment.
It is however almost impossible to replace a classical search engine with the one described by the project. There are several serious problems with it, and the market sector is very competitive. Large scale competitors could absorb or merge with the project; this would arguably be a good move for the founders. Another possibility is that larger-scale participants could develop an analogous service if it proves to be in demand.
Our opinion is that the EQUI Platform is a scalable business model with strong potential. On the other hand, due to the small size of the team, closed production development, and poor public relations it is very difficult to predict the project’s future life.
Despite this, products within this market sector are always in demand during the ICO phase. The token price could increase in the short term after the ICO. Later price depends on additional developers being on board, the product’s development, and a promotion plan being properly implemented.
- a new approach to this type of business;
- easy-to-understand business model;
- potentially infinite scalability.
- technological documentation is not available;
- a closed form of product development;
- a small team with poor public relations ability. There are no advisors to the team.
- a very competitive market.
Review of Competitors
The social/B2B networks market sector is a very competitive one. The most important competitors in the search market sector are Google, Yahoo, and Facebook. The most effective platforms, at the moment, are:
Besides the above, the remaining strongest competitors in the B2B networking market sector are: Zeromonopoly, Connectfirms and Yomillio.
The EncryptoTel. Project closed its ICO on May, 31 2017; this is a similar project. All tokens offered for sale were sold. The project raised $4.4 million.
Market and Industry Review
EQUI intends to occupy a certain share in the market sector of P2P networking, B2B, and B2P networking.
It is a rapidly growing market. The highest level of growth is in the consulting sector1. Currently, companies pay ever more attention to clients’ behavior, so they hire professionals for this field of activity. The information consulting market segment has grown to 16% per a year2. It is possible the market will continue to expand at the same growth rate.
Technical Aspects of the Platform
Characteristic features of the project’s approach:
- Information search speed. It is usually faster to type in keywords than write down a description for another participant of the network;
- Usage limits. Two-way search means the person searching for the necessary information is able to describe his inquiry clearly. Sometimes a user cannot explain clearly what they want; they can only write down key phrases or words.
Seeker-provider intercommunication chart:
In accordance with the chart given, we see the system service process is similar to Internet forums. The users ask, and the experts answer. The only difference is the ticket enquiry is confidential information for the seeker. Users can exchange contacts only after mutual agreement.
More technical details are not disclosed at the moment; the development process is a closed one. Source codes are not published. The developers intend to release the iOS beta version of the platform after the ICO to roadtest the service.
The whitepaper is available on the project website; there is much information within it. The developers describe all the important points and include a FAQ chapter, where you can find answers to many questions concerning development.
You can also find the Сrowdsale Guide Paper on the website, with ICO description and token purchase instruction.
Start: 2017, 16 Aug 0:12:00
Close: 2017, 15 Sep 13:00:00
Offer: 500 000 000
Currency: Bitcoin, Waves
70% of issued tokens are offered for investors. Soft cap: 550 BTC
Hard cap: 12950 BTC
If the necessary amount is not raised at the end of the crowdsale, the founders will return the money.
Distribution of tokens:
150 000 EQUI – for bounties.
148 500 000 EQUI – staff and reserves.
350 000 000 – are open for public crowdsale.
Distribution of raised monetary means:
40% - product development;
30% - marketing;
15% - technical infrastructure;
10% - future possible needs;
5% - legal points.
Plans of the Project Devepment
Roadmap given in the Whitepaper:
Alert: There are only two people in the staff. The founders explain this fact in bitcointalk.org.:
1) Vladislav Turiashvili
«More than 13 years in business ownership and management. Co-owner of several companies in the entertainment industry, including the country’s leading professional A/V distribution and Integration Company. Over 10 years of technical project management experience in real estate development market.»
2) Alexander Siria
«More than 10 years in commercial project development. Over 6 years in iOS application development. Designed, created and successfully launched numerous existing commercial platforms including SkyWays airline ticket portal owned by Discovery, Georgia’s largest provider of the ground services in the aviation sector and travel Industry. »
The project staff communicate using a variety of discussion platforms and Telegram.
A large bounty campaign is promoting The EQUI Project; it is described on Bitcointalk. This is the only marketing program at the moment; we have not found any articles within the popular blockchain industry periodicals.
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.