Spheris Basic Review

About the Project

Name: Spheris

Ticker symbol: SPRS

Project type: Decentralized Blockchain Based Application Distribution Platform

Company: Spheris

Website: https://spheris.io

Whitepaper: https://spheris.io/spheris_whitepaper.pdf

 

ICO details

Starts: September 19, 2017

Sale length: 4 weeks

Token type: ERC20

Total tokens: 2,000,000,000,000 SPRS

Available in Token Sale: 62%

Fundraising min goal: 720,000 USD

Price: 300,000 SPRS = 1 ETH

Accepted: ETH, Bitcoin

Bonuses: Early Bird, maximum discount 20%

 

Team

Team size: 4 members

Github: https://github.com/spheris

 

Social media

Slack: 70 followers https://spheris.io/

Twitter: 53 tweets, 1062 followers https://twitter.com/spheris_io

Facebook: no data available

Reddit: + 7 readers, https://www.reddit.com/r/spheris/

Telegtam: 107 members https://t.me/spheris

Medium: 4 posts, 11 following https://medium.com/@spheris

The Spheris project is a decentralized application platform using open source code. The project founders’ aim is to provide application developers with an easy-to-use service with no fees involved. The platform also provides the opportunity to settle payments inside the platform; developer users will save money on bank charges.

The components of the Spheris platform are as follows:

  1. CATALOG is a decentralized catalogue with the rankings, testimonials, and registration data of developers, working on the Ethereum blockchain.
  2. BROWSER is a browser with a graphical shell transforming blockchain code, including recorded data, into the required kind.
  3. MANAGER is a crypto-wallet providing a large number of services for working with the Spheris platform alongside other Etherium based operations.
  4. SIGNAL shows that the application is being used together with a personal key received at subscription purchase. It is not obligatory to use SIGNAL, but the founders recommend using it as an anti-fraud hard-coded solution. As a result, developers do not need to code their own security mechanisms.
  5. STORAGE is an intermediary component that helps upload applications to several means of storage. Dropbox and Google Drive persistence services are supported. In addition the system supports the following decentralized storage solutions for blockchains: Swarm, IPFS, Storj, Sia, and Filecoin.

Here is a short list of positive points for developers:

  • An absence of fees for registration and internal transactions
  • Decentralization
  • Absence of censorship
  • Cross platform cooperation - Windows, MacOS, Android.

The SPRS token is a currency for use on the Spheris platform. It will be used for purchase of applications within the platform only.

 

Maybe we are wrong, but we believe Spheris is pioneering the development of a platform for selling applications under blockchain. Decentralization will help the founders develop new products instead of having to deal with problems with existing releases and monopolies from other companies.

The idea is interesting; as a result the SPRS token is profitable for investors. The main advantage of the project is they have begun the development of an MVP. The project is described clearly; the staff are experienced developers. Their code is available on GitHub for examination.

The second advantage of the project is its noncommercial approach. The open source nature of the platform will attract more interest from developers.

The main risks are competitors like the App Store and Google Play. We cannot foresee possible ways in which developers of mobile operation systems to keep their market share.

Positive points:

  • Elaborated idea;
  • Experienced staff.

Weaknesses:

  • The project is still under development;
  • Risks of unfair competition from the App Store and Google Play.

The Spheris project’s main competitors are the main sites for selling applications. In the white paper the founders compare developers’ expenses:

We see that the top two lines are occupied by the current market leaders; we believe this situation will not change in the near future. The founders do not mention alternative platforms such as GetJar and SlideME; these are popular among developers especially focused on the Chinese market, where there are difficulties in running Google Play for example.

People usually aim to minimize expense, which is this free-of-charge platform could be very popular in the market if Spheris can attract both developers and purchasers.

The internet, laptops, and mobile devices are integral to daily life now; people use products whose development is financed directly or indirectly by users watching adverts. The decreasing cost of internet access, and the increasing use of mobile devices worldwide multiply this opportunity for revenue generation. In 2017 the number of internet users is more than 3.5 billion and increasing every day.

The mobile devices industry is also developing. Strong competitiveness and improvement of applications are the causes of industry growth. In 2015 the mobile applications market value was about US$70 billion; by 2020 it will be about US$180 billion.

Suppliers of infrastructure will be in demand for the near future. There is no evidence at the moment that the market leaders can be caught, but we believe the number of competitors will increase and as a result, services cost will decrease.

There is a reference link to GitHub on the website of the Spheris project. There are two repositories there: The spheris-catalog and spheris-browser. The Spheris Browser is already supported by Windows and Linux.

The Spheris platform is a Decentralized Application Marketplace – DAM - defined in such a way by the white paper. The DAM includes five components:

  1. Catalog: a database of registered developers and applications.
  2. Browser: the DAM interface.
  3. Manager: an enhanced crypto wallet for managing subscriptions and payments.
  4. Signal: an anti-piracy subscription validator component.
  5. Storage: a storage integration framework for fast and easy remote content distribution.

In the white paper the platform’s services are illustrated by the chart below:

 

The founders have only provided a white paper, but the document is clear and discloses current problems as well as the means for their solution.

However in our opinion some important information is absent from the document: Members of the team are not described; a financial model is not available for examination, and the roadmap is not a full one. The founders do not describe the options for project development depending on different possible results of the ICO.

These are not negative points; many projects at their early stage have similar problems. Other projects at a similar stage of development can often provide only combinations of buzz words.

Starts: September 19, 2017

Sale length: 4 weeks

Token type: ERC20

Total tokens: 2,000,000,000,000 SPRS

Available in Token Sale: 62%

Fundraising min goal: 720,000 USD

Price: 300,000 SPRS = 1 ETH

Accepted: ETH, Bitcoin

Bonuses: Early Bird, maximal discount 20%

The tokens will be sold over one month. There will be discounts within the first three weeks; bonuses are as follows:

The token distribution scheme will be drawn up after token allocation.

Raised capital distribution:

55% - Development

15% - LaunchPad Fund

10% - Marketing

10% - Reserves

8% - Operations

2% - Legal

The founders do not fix a hard cap; theoretically, they could collect billions of USD. Of course the real amount will be more modest. The minimum cap is fixed at 750,000 USD. We can foresee that the minimum target will be raised in the ICO.

The founders plan to launch all services in Q1 2019. At the moment users cannot test the platform; the first MVP will be available in Q1 2018. The roadmap is described in the white paper and on the project website. Here are the talking points:

Q1 2018 - SPHERIS CATALOG (MVP) Q2 2018 - SPHERIS SIGNAL ALPHA Q3 2018 - SPHERIS MANAGER ALPHA

Q4 2018 - SPHERIS MANAGER, SPHERIS SIGNAL, SPHERIS BROWSER Q1 2018 - SPHERIS STORAGE ALPHA

At the same time the founders say: «The roadmap will be adjusted according to the amount of contributions during the crowdsale». We do not know what this means exactly; if they raise the minimum target of 750,000 USD how will the project then develop? What will they do within the fixed period?

According to the information given on the project website, the staff consists of four members. Three of them are IT experts and one of them is a legal expert. The founders do not describe the team members in the white paper; we used the information given on the website.

We do not understand the reasons for absence of specific information on the team; there is no information on the founders’ responsibilities either. On LinkedIn there is the information that three of them are co-founders at the Spheris project.

DAVID SHABUN - Chief Information Security Officer (CISO). Infrastructure and security expert, architecture, building and securing payment gateways, has led large IT projects for the last 10 years. Cyber security geek since 1997, blockchain fanatic since 2011, open source advocate and Ethereum enthusiast.

SERGEY TSYBA - Blockchain developer, Solidity hacker, web guru and a natural born entrepreneur. Designing, developing and deploying complex applications for more than a decade.

VLADIMIR SHABUN - Mathematics student at Tel Aviv University, cryptography & algorithms enthusiast, seasoned QA lead, designing application and business processes for the last 7 years.

ANASTASIA ROYE - Lawyer, LL.M., TEP, with an educational and professional background in continental and common law, having uncompromising commitment to the highest ethical and legal standards; over the past decade advising individuals and businesses across the globe. AML expert and MLRO registered at ARIF.

There is evidence available on LinkedIn proving the team members’ experience. You can find out more about their experience working for different companies, but nothing more is available in addition.

Many announcements on the Spheris project have already been made before the writing of this review. On bitcointalk there are reference links to themerkle.com, cryptocoinsnews.com, newsbtc.com, portaldobitcoin.com, markets.financialcontent.com, and other media. Besides that there is an article about the project on bitcoinexchangeguide.com.

On social media there is no specific marketing program. The project is registered on all main social networks; the number of followers varies. We do not understand what target audience the project is aiming at.

The founders communicate with the public via Slack, Telegram, and Bitcointalk. Communication on Slack and Telegram is active; the founders talk to people in person.

We have examined the discussion on bitcointalk and concluded that the community have not understood the bonus system. Some of them think that 360 SPRS at 1 ETH is a 360% discountl; maybe earlier versions of the white paper have described the bonuses in an unclear manner.

 

 

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.