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GlobCoin Basic Review

Project details

Name: GLOBCOIN

Ticker symbol: GCP

Project Type: Financial Services

Extended company description: The platform enables the creation of currency baskets that meet the needs of specific communities/users. Currency baskets are portfolios of individual currencies and gold of different weights.

Company: RCS

Website

Whitepaper

ICO details

Public ICO Start: 13.01.2018

Public ICO End: 31.01.2018

Token Sales Duration (weeks): 2.5

Token type: ERC20

Total number of tokens issued: 41,900,000

Tokens Available (Pre-Sale + Public ICO): 20,950,000

Investment goals:

  • Development of the platform.
  • Marketing and attracting clients.
  • Partnership programs with exchanges, among other businesses.
  • Operating expenses.
  • Legal fees and necessary licenses in different jurisdictions.
  • Intellectual property rights, including patents, copyrights, industrial design rights and trademarks.
  • 5% for legal support, improvement of the legal structure of the company, protection of investors' rights.

Price of 1 GCP: 0.01 ETH

Accepted payments: ETH

Bounty: The program runs from November 15, 2017 until the end of the ICO.

Token role: Functional

Team

Team size (number of people): 11

Number of advisors and partners: 6

Github

Social media

Twitter: Posts: 405, followers: 1027

Telegram: Subscribers: 2245

Reddit: Subscribers: 41

Medium: Posts: 20, subscribers: 33

LinkedIn: Subscribers: 102

Facebook: Subscribers: 561

YouTube: Posts: 12, Subscribers: 21

Project information

The platform enables the creation of currency baskets that meet the needs of specific communities and users. Currency baskets are portfolios of individual currencies and gold of different weights.

The first basket to be launched on the GLOBCOIN platform will include 15 of the world's largest currencies and 5% of gold.

Other currency baskets have already been assessed for suitability for specific customers in Asia, Africa and Western Europe. The GLOBCOIN platform will be able to run and manage these tailored baskets according to customer needs.
In addition, a GLOBCOIN multicurrency payment card will be available, so that it will be possible to buy a basket in one click (in addition to using fiat currency).
GLOBCOIN provides the following services:

  • purchase of currency baskets
  • storage of funds
  • converting of savings to different currencies
  • making payments and transfers
  • withdrawal of funds

GLOBCOIN belongs to a group which was founded in Geneva, Switzerland, in 1998 as Overlay Asset Management Helie d'Hautefort.
GLOBCOIN Ltd, a London-based company established in 2016, is currently developing one of the first multicurrency digital wallets associated with a debit card, providing access to foreign exchange markets in the interbank sector, and free P2P transfers in most world currencies.  [Whitepaper]

Project advisors:

Giuseppe Ballocchi (Linkedin) - Research fellow.

William Mougaya (Linkedin) - Author of ‘The Business Blockchain’, advisor to the Ethereum Foundation, Omers Ventures, Coin Center, general partner of Virtual Capital Ventures.

Anuj Khanna (Linkedin) - Advisor to the Further Corporation, Arqbravo Group, Inc., the Acorn Collective, CEO at Peak State Consulting.

Heiner Hartwich (Linkedin) Owner of Controlconsult, formerly director at VP Bank (Luxembourg) S.A., director at Commerzbank International S.A.;

Kevin Tholke (Linkedin) - Senior vice president of commercial payments in KeyBank, consultant for Inno-Fuel, formerly senior vice president of strategy and business development at Smartlink SA;

David Drake (Linkedin) - Advisor for NAGA ICO, Coinme, Cappasity Inc., blockv, 1world Online, investor Quantstamp Technologies INC.

 

Project partners:

Blockchain Partner (Linkedin) — Partner in the field of Blockchain.

 

Attracted investments: n/a

Summary

The project is based on a platform specializing in trading multicurrency baskets on blockchain.

Strengths of the project:

  • The project is well received by the blockchain community.
  • The project has experienced advisors.
  • The project has a functioning mobile application for the multicurrency payment card, and a basket of currencies has been created.

Weaknesses of the project:

  • There are no blockchain specialists in the team; the platform will be created by a third party company.
  • There is a risk of not attracting enough users to the platform.

Market and industry

Since GLOBCOIN will operate using several world currencies, we believe that it is necessary to analyze how the worldwide economic situation will progress. According to International Monetary Fund data, the world economy in 2017-2018 will grow at a rate of 3.2%, which is 1% higher than in 2016.

[http://www.imf.org/en/Publications/WEO/Issues/2017/07/07/world-economic-outlook-update-july-2017]

The project will focus on the following audiences:

  • Cryptocurrency investors who are looking for a stable and active coin.
  • Holders of national currencies wishing to diversify their capital.

Comments: The market shows a low growth rate, which indicates that in general one should not expect a high income from the possession of a basket of currencies.

Competitors

We note the following competitors providing access to currency baskets:

Tether — a platform for converting cash into digital currency to secure or tether its value to the price of national currencies, such as the US dollar, Euro or Yen.

Competitors in transfers and payments via cards:

Transferwise — a platform that enables payments and transfers.

Monese — a platform specializing in current accounts, with a UK account facility, for making payments and transfers and the use of the Monese Card (MasterCard).

Summary: The main difference with Tether is that Globcoin enables tethering to a greater number of currencies in addition to gold. The reputation of Tether is also currently damaged, following the hacking of the platform and subsequent loss of US$30 million. [http://whattonews.ru/reviews/6764/razoblachenie-bitfinex-vzlom-tether-pokazal-chto/]

Engineering features of the platform

The platform is built on the basis of blockchain technology, using smart contracts.

Technical description

Users will be able to access baskets of currencies through GLX (a digital coin, the value of which is pegged to a basket of currencies from the world's 15 largest economies and 5% of gold).

The GLOBCOIN card allows one to pay with, transfer and convert currencies.

Comments: The project has a functioning mobile application as an MVP. [https://play.google.com/store/apps/details?id=com.app.globcoin#details-reviews], [https://itunes.apple.com/us/app/globcoin/id1218664932]

Technical roadmap

In the future, with the development of technology and the amount of data it is planned to implement the following:

  • 2017 – The Globcoin team together with blockchain partners develops a basket based on the token.
  • 2018 - GLX and GCP are available on exchanges. Launch of the WebApp version of the Globcoin wallet.
  • 2018 – The GLX cryptocurrency is available in the Globcoin wallet.

Comments: The technical component of the platform has not been disclosed. This is probably due to the fact that its development is being carried out by third party companies (blockchain partners).

The following active modules are presented in the open repository:

Repository screenshot:

Comments:

  • Crowdsale contracts — this module contains information about the smart contract.
  • Whitepaper — this module contains information about the white paper.

The repository belongs to Globcoin. There is no current activity in the modules; the latest updates were made in November 2017.

Documentation

We checked the site and the documentation of GLOBCOIN for sufficiency and consistency in order to make an investment decision.

Information about the project is contained in the white paper, which is available in English, Russian, Italian, Chinese, Hindi, Dutch, Croatian, Filipino, Spanish and Romanian. The project is described in sufficient detail in the white paper. The main emphasis is placed on the currency basket and fundraising.

The website also provides information on the project, the staging of the public ICO, the roadmap, frequently asked questions, future events, advisors and team. The site is available in English.  Additional features of the site include a frequently asked questions section and step-by-step instructions on how to participate in the ICO.

Summary: The documentation provides some insight into the project. Information about the public ICO and the functionality of the token are disclosed in sufficient detail.

ICO

Tokens to be issued for sale,%: 50

Public ICO Start: 13 January 2018

Token type: ERC20

Accepted payments: ETH

Price of 1 GCP: 0.01 ETH

Crowdsale duration: 2 weeks, until 31 January 2018

GCP is a utility token that is used for investment and exchange.

Each token represents 1 unit of a basket (which itself consists of 15 national currencies from the largest economies measured by GDP, and gold).

GCP will enable the following:

  • Exchanging tokens of multicurrency baskets, such as GLX, directly with the issuer without charge; calculation of the required level of GCP to be held for any desired transaction in the currency basket.
  • direct access to trading on the Globcoin stock exchange to take advantage of the liquidity of the platform.
  • The exclusive right to order the project’s revolutionary MasterCard payment card at no charge (for European countries and SEPA countries).

When the first multicurrency basket is launched along with the global currency index and the associated GLX token, GCP holders will be able to exchange fiat currency on the GLX with a commission of 0%.

GLX can be issued or exchanged for fiat only with the help of GCP.

GCP holders will be able to use the fiat/GLX exchange service (GLX/fiat) an unlimited number of times.

GCP will be available for exchange with GLX tokens on public exchanges, or directly on Globcoin.

Token limitation: 41,900,000

Advantages for token holders: GLX are limited-quantity tokens; they are functional (for use with the platform’s services) or they can be sold.

Dividends: No

Additional issue of the tokens: No

Escrow: Yes

Tokens will be sold sold in several stages:

  1. Pre ICO:  8-12 January 2018
  2. ICO: 13-31 January 2018     

Max Goal: 180,000 ETH

Minimum Goal: 10,000 ETH

Bonuses:

Comments: At the time of the sale, GCP tokens will only be available in the Globcoin wallet. After the sale it will be available for transfer to exchanges and other wallets. Several exchanges will place the GCP token after the end of the ICO.

Bounty program

Link to the bounty program

% Bounty Program Distribution Scheme:

1.8% = $810,000 (2% — maximum)

  • 50% for the signature campaign
  • 10% for Twitter
  • 10% for transfers
  • 10% for blogs and content
  • 10% for Telegram
  • 5% for Reddit
  • 5% for Facebook

Summary: The project has an extensive bounty program. All the terms of the program are specified under the link above.

Token and capital distribution

Tokens and capital are distributed according to the following scheme:

  • 50% - ICO
  • 30% - business development
  • 20% - team, advisor and early backers.

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.

Development plans

Roadmap of the project:

  • 2019: Opening of representative offices in Asia, Eastern Europe and South America.

Summary: Based on the presented marketing campaign [WP], the team is focusing on the following:

  • Expansion of the number of partnership agreements
  • Use of social media, publication of articles and the organization of webinars for promoting the services.

Team

The team consists of 11 people as well as 6 advisors. Information on the core members of the team (LinkedIn) is as follows:

Helie d'Hautefort (Linkedin) - CEO and Co-founder. CEO and founder of Optiminvest, formerly: CEO and founder of Overlay

Linda Leaney (Linkedin) - Chief Financial Officer.

Felix Velay (Linkedin) - Chief Technical Officer. Chief technical officer at BBsitterApp.

There are 8 other people in the team.

Summary: All employees except the head of video production indicated their affiliation to Globcoin.

The team is mainly from the UK, and has the following specialist personnel in addition: Co-founder, lead developer, community manager, digital marketing specialist, senior portfolio manager and trader, web and UX/IX designer, production manager, trust and reputation manager.

However, it should be noted that the project leaders have only brief descriptions of their work experience on Linkedin, which makes it impossible to form a definite opinion about the team.

Marketing

Information about the project is available on a variety of popular services such as Twitter, Telegram, Reddit, Medium, Bitcointalk, LinkedIn, YouTube, Github, Linkedin, KakaoTalk and Facebook. The project has a bounty program.

The project is active on social media; there are regular news updates on Twitter and Facebook. Viedos are regularly published on YouTube about how the platform works, as well as interviews with project participants.

The format of articles on the project suggests that they were primarily ordered by the project.

Comments: Interest in the project is increasing. The marketing campaign is mainly developed on Twitter and Facebook.

Analysis of the GLOBCOIN website’s traffic based on Similarweb.com data showed the following:

Traffic sources: Similarweb

Comments: direct: 25.63, referrals: 44.69, search: 14.54, social: 5.34, mail: 8.35

Search traffic: 14.54%, of which 100% is "organic" traffic

Referral Links: 0.4469

 

Analysis of social activity of the Globcoin site on the basis of BE1.ru data showed the following sources of traffic:

Top 5 countries for site visitors: USA-16.69%, UK-13.92%, Argentina-10.26%, France-9.75%, Portugal-6.12%.

Referral Links: bitcointalk.org: 26.72%; glob-coin.com: 15.13%; alanmaster.com: 11.99%; trackico.io: 11.12%; ethereumworldnews.com: 9.56%

Social activity: Twitter: 89.09%; Meetup: 8.99%; Linkedin: 1.92%

 

Analysis of the GLOBCOIN website’s traffic based on analysis data [https://a.pr-cy.ru/globcoin.io] showed the following:

Site evaluation: 0.73

Traffic: visitors: 6570, views: 26,280

Social activity: score: 1016.  Source: Facebook reposts: 1016

Summary: Based on the available data, it can be concluded that users are interested in the project. The team is conducting an advertising campaign on Twitter, Facebook, posts videos on Youtube, and communicates with users via Telegram. There are publications available in the media.

However, we should note that the popularity of the site has decreased, the number of visitors has decreased from 55,000 to 43,000.

Contacts

You can contact the developers through the following links:

Website

Twitter

Telegram

Reddit

Medium

LinkedIn

Facebook

Github

Bitcointalk

Youtube

 

 

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.