STYRAS Rating Review
|Start ICO||19 Nov 2017|
|End ICO||28 Dec 2017|
We assign the Styras project a rating of "Risky+".
It can be said that Styras is an interesting project that could eventually emerge into a huge and relevant market. The project wins over with its simple and concise idea, as well as the method of its implementation. Styras sets rather ambitious objectives to arrive at its desired goal — "connectivity everywhere in the world, simply using your cellphone." The team does not actually suggest any potentially risky innovations, which indicates that all the market opportunities for creating their own ecosystem already exist.
Moreover, the project comes with significant risks, and the usefulness of some solutions, such as using a smart contract as an "operational" tool, is not fully understandable. Notwithstanding all the evaluative judgments, the project still has two serious gaps, which make you consider the necessity of purchasing STY during the ICO — the pricing is undisclosed and the product development is at an early stage (no MVP).
The development of the wireless internet industry itself also carries a number of risks for Styras. Hotspot 2.0 technology development will eventually make hotspots more in demand, leading to additional infrastructural development. As a result, if networks are owned by telecommunications operators themselves, service prices will be the most attractive. The Styras project may not withstand price competition with larger players who will have their own infrastructures.
General information about the Project and ICO
Styras is a project aimed at the development of a platform that will provide the user with access to the internet through a smartphone or through a Wi-Fi router. Styras’ business is aimed at a rapidly developing market with enormous potential, where it is long overdue to rethink the concept of ‘always being online.’ The team offers its own approach to the notion of the most convenient and continuous access to the World Wide Web, based on the recent trend of Hotspot 2.0.
Styras offers to actually integrate all the existing Wi-Fi Internet infrastructure into its own platform by taking over all organizational functions. First of all, this consists of gaining access to the functioning network access points through Wi-Fi — so-called Wi-Fi Hotspots. As a result, Styras is going to become a potential "end" provider for the user, being an intermediary between the primary provider and the user.
Given the growing need for people to be online at all times, the very concept of the project will be understandable to many. As such, there are few innovations here, but rather the realization of existing capabilities is of interest. However, this may be the weakness of the project in the face of competitors, as it will be existing large internet providers who will find it easier building the widest possible network. The whole question is when the larger players will be motivated to move toward the consumer, because the current system, where the user has to pay expensive roaming tariffs, or search many Wi-Fi hotspots with a variety of access conditions, is very ineffective.
In addition to the approach of building the network from the existing infrastructure, the project differs from standard internet providers in using blockchain architecture. In particular, the utility token issued during the ICO, will be the basis on which the Styras ecosystem is to be built; there are also smart contracts integrated in the platform’s architecture, through which the "server" component of Styras will function.
The project is led by a credible international team with a strong professional background in technology companies. However, the project does not have an MVP, and the Styras platform is in the early stages of development.
ICO Start: 28 Nov 2017 00:00 GMT
ICO End: 30 Dec 2017 23:59 GMT
Pre-ICO: Nov 21, 2017 15:00 GMT – 27 Nov, 2017 23:59 GMT
Hard cap: 55 833 ETH ($26,800,000)
Soft Cap: 277 ETH ($133,056)
Token: STY, ERC-20 standard
ICO Price: 1 STY = 0.00033 ETH
Accepted currencies: ETH
Total emission: 200,000,000 STY
Allocation of funds:
65% - ICO
25% - Pre-sale
10% - Community, beta testers, team, partners.
Allocations of funds raised during the ICO:
Pre-sale participants and early participants in the crowdsale receive bonuses:
Tokens distribution for buyers will be released 16 days after the ICO ends. Tokens will be reserved by the company to incentivize the community, for beta testers, marketing and strategic partners. Those tokens will be subject to a 6 months lock-in period.
Description of the services and scope of the project
The Styras platform is a set of services that are mutually complementary, eventually forming a separate ecosystem based on cryptocurrency and Ethereum smart contracts. There are three basic services: The Styras app, Styras Router, and Styras Wallet.
The network is created via the use of Wifi Hotspots, whose owners are third-party vendors. Such access points may be public or non-public with very different methods of identification and connection. At the same time, quality access to the entire Wifi Hotspot infrastructure will be ensured not through the vendor, but through network-end providers of the traffic, whose services are used by vendors. This deprives Styras of the need to interact with thousands of small companies and officials; the agreement will need to be concluded with large national and international providers.
The Styras app itself will be an IOS and Android platform app through which Styras as the provider will interact with the client. Thanks to the application-related Styras Wallet, the client will transfer funds in cryptocurrency to the system and buy megabytes of traffic in exchange. The purchased MB can be stored and used at any time by clicking a button, and MB transfer between users is also available.
The pricing of the platform’s services will be set in fiat, but payment will be made in cryptocurrency. With the ability to "store" unused megabytes of traffic, the user can protect himself from rate risks. Through the application, the user will also be aware of all information on the account status, access, and statistics.
In terms of the architecture of the software aspect of the service, Styras does not reveal details, but the general principle is explained in the documentation. In background mode, the application will receive geolocation data and direct it to the server that identifies the nearest HotSpot and sends all necessary data to the application to connect with it. As location changes, the system will find the most appropriate internet access points nearby and send information about them to users’ smartphones.
All background processes and work with the application will occur regardless of whether you have access to the internet through Styras. That is, the interaction of the Styras App with HotSpots will occur continuously and free of charge. Given the lack of disclosure of the technical aspect of the platform, a number of unclear cases arise in this regard: For example, it is not clear how to find Hotspots in stand-alone mode if you update data at the nearest point, or if the network is suddenly disconnected. Another question is how to control the signal and the availability of HotSpots, because if the system joins the user to a nearby "bad" point, it can affect the quality of the internet and the speed or even the operating ability of the application.
However, if the permanent connect function of the application and the Styras network actually work smoothly in coverage areas, this will ensure the benefits of the platform claimed by the team: «stay connected everywhere». And this will indeed become a major competitive advantage over large providers and mobile operators.
The Styras Router, unlike the application, is a more familiar product. It's even possible to say that the technology itself does not differ from existing routers. For example, the service offers the option to purchase the Styras router wi-fi that will also work through interaction with the customer’s account via the wallet. The source of the network is the integrated Styras SIM card of the provider with whom the agreement is concluded.
The general characteristics of the router are as follows:
3G Connectivity which allows a speed of 21 mbps.
Up to 10 devices connectable through Wi-Fi.
5 hour battery duration and a stand-by mode of 40 hours.
Supports Telephones, Notebooks, Tablets, and Gaming Consoles.
Offers secure internet connection.
Customer service 24/7.
You can recharge your internet balance buying with Styras, Bitcoin or Ethereum.
With your Styras Router you can share your connection with other devices; with the Styras App you cannot share your internet because you are connecting to Wi-Fi HotSpots.
In view of the above, it is not clear how Styras will involve the consumer because there is no cause for dumping and its benefits are similar to that of the competitors. In theory, its benefits to users could be mobility, because the SIM card can function in different regions without including elevated roaming tariffs. Everything will depend on the end-user's final tariff, which in turn depends on the ability of Styras to negotiate with providers, as in the case of Styras App.
An integral part of the Styras ecosystem and services is its own multi-currency wallet, the Styras Wallet. This will be integrated into the application, so a user would not need to install additional software. The following features are implemented within the wallet:
Transfers of supported currencies between wallets, including third-party ones
Wallet supports BTC, ETH, and STY tokens, automatically displaying the relevant dollar value
Wallet QR code
Exchange of cryptocurrency for data allowance (MB) via a button click
The wallet’s functions do not include deposits/withdrawal of funds other than by transfering them from other crypto wallets, nor the support of fiat or the exchange of currencies. In addition, there is no information on how to protect client's funds or any list of KYS, AML procedures. This has a significant impact on its usability, because Styras targets not so much the cryptocommunity as the wider internet market for users, for which the convenience of the wallet and its functionality could be a major asset for using the rest of the infrastructure.
In addition to using cryptocurrency, Styras in its business model uses a smart contract directly for the operation of the system. From the project’s documentation, smart contracts will receive, process, and exchange payments for traffic, as well as provide access to the internet (referral to the HotSpot data user smartphone).
Styras' documentation states the following:
«Smart contracts in the Wi-Fi internet industry:
Buying cryptocurrency to connect to the internet.
Transferring internet packages between users.
With appreciation of STY there will be benefits in MB.
Enables you to connect more than one device to the router».
The benefits of such solutions, in addition to the fashionable "decentralization" of the platform, have not been stated. In turn, we also do not see the rationale for the introduction of smart contracts for work and settlements if this does not have significant benefits, but instead adds miners’ commissions and increases the time it takes to process transactions. In the case of Styras, in our view, there is no problem with excessive centralizedness or the absence of blockchain in operating activities, so it is likely that the smart contract in this case has a fashionable "blockchainization of all" function.
To commence the market review, we need to go back to the positioning of Styras. The project we are assessing provides an internet access service that does not bind to localization. This is also unnecessary because it is not about mobile operators, but about the larger number of Wi-Fi hotspots (there are a large number of them around the world). But who owns these hotspots, who needs them, and what are the prospects for their use? In the market review, we will look at all these issues.
As early as 2014, the Economist magazine published an article on "When Wireless World Collide", in which the author talked about the prospects for the relationship between familiar Wi-Fi and Mobile 3G/4G. It was already known that almost half of mobile phone traffic and more than 90 percent of tablet traffic goes through Wi-Fi instead of cellular networks.
Everyone knows that the number of mobile devices in users is growing rapidly, mobile data traffic is constantly increasing, and operators are increasingly trying to get out of the mobile network to alternative technologies and, above all, to Wi-Fi ( Offload). As a result, the market for Wi-Fi solutions of the operator class is developing rapidly. Infonetics forecasts the growth of this segment to $3 billion in 2018.
However, is it easy to just use a seamless network transition to Wi-Fi? To simplify the lives of users and to create conditions for the use of Wi-Fi hotspots that would be just as easy as using the services of any mobile network, Hotspot 2.0 has been developed.
In 2010, a special group was formed by the Wireless Broadband Alliance (WBA), called the Next Generation Hotspot Task Group. The founders were Cisco, and a number of other industry leaders. The purpose of the team was to work on the standards known as Hotspot 2.0, which would provide the possibility of authentication and roaming for Wi-Fi users, similar in simplicity to current 3G networks. The work of this group has resulted in:
A Wi-Fi Certified Passpoint certification program, which is already running on the Wi-Fi Alliance certification labs.
Guidelines for communication operators to create Wi-Fi roaming networking agreements.
The next generation Wi-Fi hotspots technology can distinguish three main components:
WPA2 (Wi-Fi Protected Access 2)
EAP-Based authentication (often this is EAP-SIM/authentication using a SIM card).
Operators often use two complementary approaches to ensure network access:
802.1 X (EAP) authentication,
Authentication via web portal.
Authentication via web portal is used for those who do not have a contract or other relationship with the operator providing the service. In this case, it becomes, in fact, a public Wi-Fi service, and there are ways to pay and use it, such as using credit cards, paying through a mobile phone with one-time passwords, and so forth - generating additional revenue from Wi-Fi networks.
EAP authentication is typically intended to provide transparent access for mobile operator subscribers using their SIM card. In fact, if the EAP-SIM client is running normally on a mobile device with a SIM card and Wi-Fi, the user only has to choose the correct SSID and log on to the network. This step will not be necessary since the terminal typically remembers the profiles of those Wi-Fi networks where it has already been used.
The introduction of Hotspot 2.0 and the appearance on the market of devices that meet the IEEE 802.11u standard, and those certified Wi-FI Passpoints will further simplify the user's life. The 802.11u client will avoid manual manipulation by the user, and this will involve visiting even "non-home" networks. The participation of Wi-Fi operators in the roaming consortium, based on the recommendations of Next Generation Hotspot, will become the norm (by the way, this is a real big project): The WLAN Roaming Inter-Exchange [WRIX] will allow users with 802.11 u clients to connect to the correct SSID entirely automatically anywhere in the world.
The Styras project team is a credible one, but most of its members are connected to the telecom industry. The competence and professionalism of key individuals are unquestionable, and there is a wealth of proven experience. At the same time, virtually none of the team members were directly employed by international providers, and therefore the existence of a structured relationship with large players in the market was questionable. Also, the project does not have any prominent consultants.
Fernando Arriola - CEO & Co-Founder (LinkedIn)
Has more than 10 years of experience in the financial industry. Has an impressive experience in the financial sector in the top managerial positions, as well as in the position of analyst and portfolio manager. Currently, in addition to Styras, he is a consultant for Deutsche Bank, Director at Neuval and Agropecuaria Loma Verde S.A. He has worked in several IPOs in the New York Stock Exchange as well as in Latin American Countries.
Joseph Berganza - CEO & Blockchain Developer (LinkedIn)
Mainly experienced in blockchain development. Software developer with experience in building web applications and e-commerce webs. User experience design, software development, testing and deployment. Before Styras he has long worked as a web developer at Next Thing, as well as in Spanish companies (Elemental software and Capri Software).
Ami Lebendiker - CFO (LinkedIn)
Has an impressive résumé, the main line of which is work for Google as Analytics Expert and Program Manager. Previously, he worked in various positions in large international companies — Ecofact (UBS spin-off) and British American Tobacco. We note that we have not found experience relevant for carrying out the functions of the project's CFO.
Jhon Harold - Full Stack Engineer (LinkedIn)
Has extensive experience in various telecommunications companies as an O&M Engineer, primarily in the Chinese giant Huawei. His CV also includes companies such as from Millicom, Moviphone, Nokia, Ericsson. The Styras documentation also stated that Jhon was a staff member at the Space Agency (Nasa).
Tom Starke - CTO (LinkedIn)
Mr. Starke joined Styras in 2017 as Chief Technical Officer during the firm’s expansion into European markets. Building on a biochemical background, Tom gained vast experience and insight while working in the pharmaceutical industry since 2014 - emphasizing especially on controlling and networking within the DACH countries. Furthermore, due to his previous involvement in different sales companies in Spain, Portugal and the Netherlands, Tom provides some years of experience in sales strategies, customer contact and business development for the southern and middle European countries.
Taka Yuki Obara - COO (LinkedIn)
Specializes in logistics and the import and export business in Japan and Latin America, he has been responsible for the development of several governmental projects. We have not found any other information in the public domain about previous places of work and professional experience.
There are also two advisors:
Roger Bravo - Chief Legal Advisor (LinkedIn)
Practicing law since 2013, Roger focuses in the areas of business and commercial litigation, emphasizing particularly on all matters related to contracts. He has also several years of experience working with German, Austrian and Swiss legislation in the area of pharmaceutical law. He advises all sort of entities on legal matters pertaining to the DACH and Latin America regions.
Didier Irrazabal - Chief Technical Advisor (LinkedIn)
Didier has been the CEO for Callpy Telecom for more than 12 years. Specializes in mobile Internet network and APP development for Android.
Development strategy and Roadmap
The Styras Project website and the official documentation present a roadmap which asserts that all declared functionality will be implemented by mid-2019. The sequence of main milestones is as follows:
Q1/2017 Launch Styras Project
Q4/2017 ICO launch
Q1/2018 STYRAS Token listed on exchanges as soon as the ICO ends
Q1/2018 Hiring of Hotspot services in main countries and their cities
Q1/2018 Development of Styras wallet for Android
Q2/2018 Development of Styras App for Android
Q2/2018 Development of Styras Router this includes testing
Q3/2018 Marketing begins for the sale of Styras Routers and APP presentation
Q3/2018 Styras Router will be available on the website to purchase
Q1/2019 Development of Styras wallet for iPhone
Q2/2019 Development of Styras App for iPhone
As can be seen from the plan, agreements will be made with hotspot providers in the main target countries and cities in the first quarter of 2018. We find this item to be the most important for the further development of the project. It is the Styras service coverage area that will be crucial to its attractiveness.
The details of service development plans are given in more detail in the white paper. There is a section called "Use of Proceeds Project Management", which outlines the developmental aspects of each component of the Styras project:
Development of the Styras Wallet:
We will select the team developers
Development of the prototype and the Alfa y beta versions of the wallet
Testing in the markets
Development of promotional material for the marketing campaign
Recruitment of a marketing team and an operational team for the launch of the product
Publicity campaign for wallet
Development of Press Content
Start of promotion of the wallet in the American, European and Asian markets
Development of the Styras APP:
Compilation of the programmer team for the development of the application
Development and debug of the application for devices Android, accomplished by our team of developers, specially hired for this project
Implementation of blockchain technology within the architecture of the application
The achievement of hotspots presence in cities of major countries
Determination of the fees for use of the Styras App for internet connection
Introduction of the Styras App:
Massive media investments for the main markets
The opening of representative offices in Berlin, Germany
Support services in the regions where Styras is present
Development of the Styras Router
Physical device layout on paper
Contract with the manufacturer for the development of the router
Implementation of the SIM CARD for our internet service
Integration of the router within our application
As you can see from the above, the Styras project team still has much work to do to get from the idea to the existence of a functioning quality service.
The Styras project has a fairly mature marketing campaign. Given that there is still time before the primary tokensale, the project can receive the widest possible coverage.
The project site gives links to the main pages:
All of the above links work, and the number of subscribers is quite decent. At the time of writing this report, some summary figures are as follows:
Twitter – 2 480
Facebook – 3 1045
Telegram – 380
As the main channels of communication with the community, the team uses a group in Telegram and a thread on the Bitcointalk forum. It should be noted that, while the thread on Bitcointalk is empty, there is not a single record from the moderator. With regard to the group in Telegram, there is more lively communication, but much of it is devoted to the sale, and subscribers are almost uninterested in the technical features of the project itself. The rare question about the nature of the project itself usually looks like this:
It cannot be said that the community is not interested in the project. Perhaps the idea of Styras proved to be so understandable and readily available that further clarifications are not required.
A number of announcements have already been made in the specialized press for the upcoming Styras project ICO. Here's a list of the most interesting publications in our view:
STYRAS ICO. A New Token That Would Allow
Internet Access via Your Mobile Phone Anywhere on the Planet
STYRAS ICO: Enjoy Affordable Internet Access By Using Your Phone
STYRAS ICO. A new token that will allow you to enjoy affordable Internet access anywhere on the planet, just by using your phone.
STYRAS ICO – A Token That Allows Anyone to Enjoy Affordable Internet Access Anywhere
Our product arises from the necessity of staying connected, anywhere and everywhere we go. Styras was created to fulﬁll the neverending demand for better and more aﬀordable Internet for all.
Publications are, for the most part, short press releases with fairly similar content. However, there are quite a few, and the project site contains a large, colorful table with links.
Competitors and competitive advantages of the project
Before we start talking about the competitors for the Styras project, we need to remind you that Styras is a service for travelers. If you travel a lot, especially for business, and staying online is vital, you need to look at the Styras project.
In fact, Styras competes with all the known services that provide internet access to travellers. The most classic ways to stay online abroad are the following:
These approaches have lots of drawbacks. Anyone who has ever purchased a SIM card from a local operator in a country where the seller does not speak English, Spanish, French, etc., is well aware of the problems.
Technological progress is not standing in one place, and the market now has some fairly elegant solutions to support internet access almost all over the world. For example, the Skyroam modem promises unproblematic access to networks in 120 countries around the world. The modem's logic is fairly simple, a user can obtain access for a few days (the price varies from $8-10 per day), and the service itself provides local virtual SIM cards based on GPS coordinates, allowing for the use of developed mobile networks without undue hassle. You can connect up to 5 devices at a time to your modem. Of course, the quality of the signal will depend on the country and the network infrastructure, traffic is declared as unlimited, but the speed drops after 500 MB.
If you go back to Wi-Fi hotspots, these networks are being actively developed by AT&T and Verizon in the American market. In the meantime, you can use Wi-Fi to gain an advantage over mobile traffic from AT&T. As already noted in the market review, the major mobile operators are interested in extending hotspot networks to improve the quality of access and reduce infrastructure costs. But in any case, talking about the massive potential of hotspots outside the United States is still premature.
The Styras project white paper states: «Styras differs significantly in terms of service range, this is so because, in comparison with these competitors, we have several partners around the world that allow our WiFi HotSpot availability to be vastly superior in number than those of AT&T, Verizon and Xfinity.» Unfortunately, the team has not yet disclosed the names of partners who will be able to provide their infrastructure.
The main advantage of Styras is that there is no need to make contracts with service providers. This is repeatedly stated in the WP: «We do not require our customers to sign a contract, this is a prepaid service that gives you the freedom of using our platform without hassles with the benefit that we rely on multiple carriers whose Hotspots overlap».
Otherwise, it is difficult to judge the competitive prospects of the Styras project. The main competitive components are the service's price and the coverage area. It is premature to judge about any of this.
Economy of the Project
In the economy of the Styras project, there are many gaps; moreover, these are not due to controversial decisions but a lack of information. The key aspect of the entire platform and project in terms of general pricing is not disclosed. As a result, in addition to uncertainty of the price of services as a competitive advantage, we are unable to understand the profitability of the project, that is, its viability and its reliability as a business.
We understand that it is difficult to predict cash flows at this stage of the project, but the team is negotiating with telecoms companies to provide services; the project managers also have experience and competence in the field, so the tariff framework should be visible. For the ICO startup as a business project, in isolation from the main idea of the project, the absence of an economic component can be justified, but the case of Styras is not typical because many key variables are tied to this point.
As a result, it is not possible to discuss the relevant aspect of the project without information about the economy.
The pricing format of the platform is as follows: at a given constant rate (tied to fiat), the user exchanges cryptocurrency for MB traffic (data allowance) and uses it. Unlimited access is available for the appropriate fee. As part of the Styras Router service, traffic is paid for in the same way. To encourage the use of Styras tokens (STY), a user will receive more allowance when bought with tokens. It is specified that this total bonus will reach 15%.
Note that the ability to store assets, both in the form of cryptocurrency in the Styras wallet and in the form of traffic in MB, allows the user to manage currency risk. At the same time, a possibility for reverse exchange of traffic for cryptocurrency is not announced, so "playing" on the rates will not be possible.
Risks of the Project
Styras sets rather ambitious objectives to arrive at its desired goal — "connectivity everywhere in the world, simply using your cellphone." At the same time, despite the clarity of the problem and the good prospects for work in this area, Styras is particularly susceptible to a large number of risks. They are briefly enumerated here:
Undisclosed partner network.
No open code (except for the contract itself).
The economic model is not fully formed. The pricing of services is not clear.
There is no clear plan for market expansion.
There are many other questions. Of course, the team may refer to a commercial secret, but such restrictions on disclosure certainly increase the project's riskiness.
Only recently, 4 out of 5 ICOs only had an idea, site and white paper, but this trend has now changed. Many projects are trying to confirm the seriousness of their product by presenting the white paper, by selecting reputable advisors, engaging partners, etc. This is not a critique of Styras, but rather an increase in competition among ICO projects, which also affects the requirements for rating estimates.
The development of the wireless internet industry itself also carries a number of risks for Styras. Hotspot 2.0 technology development will eventually make hotspots more in demand, leading to additional infrastructure development. As a result, if the networks are owned by telecommunications operators themselves, service prices will arguably be priced most reasonably. The Styras project may not withstand price competition with larger players who will have their own infrastructure.
Token investment attractiveness
Because the STY token, like most ICO projects, bears utility functions and is integrated into the business, the foundation of its investment attractiveness is the fundamental potential. Everything is as usual here: on the far horizon, the value of the token will be proportional to the turnover of Styras business and the share of use in the turnover of its own cryptocurrency. Scalability is huge due to the volume of the internet services market and its current state.
However, in the search for mountains and marvels in the Styras project we run into significant obstacles. This is, first of all, caused by the very idea of the project. In order to ensure a genuine achievement of the company's "Stay connected everywhere" slogan, Styras requires a suitable coverage area. That is, the more extensive it is, the greater the attractiveness of the services to the consumer, and hence the popularity of the platform. However, as the network expands, Styras will have to work with many providers in different countries and the costs of doing so may be significant, especially in unfamiliar jurisdictions. At the same time, it is the main operational case of the team to agree with everyone an acceptable tariff.
As a result, formation of the network will be costly, and the project is heavily dependent on the level of raised funds and the achievement of the Hard Cap. In the area of development financing, it is not possible to analyze profits from the business because the project economy is not described in the documentation.
For the investment potential of the token, such features of Styras are certainly not a plus. Coupled with these risks, the viability of long-term investment in the platform remains questionable. There are too many unclear variables and necessary assumptions.
In terms of speculative attractiveness, the STY token does not appear to be the first candidate for "dispersal" of the price after the ICO. Of course, the project's marketing policy is at a good level; on social media and on profile media resources you can easily find announcements or discussions. However, given the state of the ICO field and the gradual transformation of the crypto community's attitude towards such a way of attracting funds, it is not enough to implement a standard ICO-marketing policy to ensure a speculative boom in the token.
To sum up, it can be said that Styras is an interesting project, winning us over with its simple and concise idea and the method of its implementation, which could eventually reach a huge and relevant market. Moreover, the team does not actually suggest any potentially risky innovations, which indicates that all market opportunities for creating their own ecosystem already exist.
Despite this, the project comes with significant risks, and some solutions such as using a smart contract in the operating activity, are really debatable as to whether they are really needed. Notwithstanding all the evaluative judgments, the project still has two serious gaps, which make one think about the risks of investing; the pricing is undisclosed, and the product’s development is at an early stage (no MVP).