Underlying blockchain for businesses
Average rating : MEDIUM
The Next Generation Distributed Smart Network Blockchain for the Sharing Economy."We have decided to cancel the Crowdsale contribution round and reduce our total hardcap. In place of a Crowdsale, we will put forward plans to host a Community Airdrop."
|Private-sale:||ENDED||0 / 0 raised|
|Pre-sale:||20 Jun - 22 Jun||ENDED||$33,000/ $33,000 raised|
|Crowd-sale:||TBA||NOT STARTED||$0/ $0 raised|
Raised: 33,000ETH of 33,000ETH ( 100%)
|Ticker:||UCN||Available for token sale:||40%|
|Token type:||Private-sale/pre-sale token price:||no info / ETH|
|Accepts:||Private-sale/pre-sale bonus:||no info/ no info|
|Prototype:||NO||Pre-sale min/max personal cap:||0.5 ETH / 5 ETH|
|Team:||8 persons||Crowd-sale token price:||0.0002ETH , 0.11USD|
|Team residence:||Crowd-sale min/max personal cap:||2 ETH FIRST 24 HOURS, 0.5 ETH AFTER / 2 ETH FIRST 24 HOURS, 5 ETH AFTER|
|Company residence:||Cant participate:|
Picolo Research is neutral on this ICO project as we have several concerns as to the team’s ability to pull off their ambitious plans. In addition to this, we do question the need to create their own blockchain. There are currently a handful of established projects in the space, as well as several more launching (ShareRing and Origin Protocol, slated to launch their ICO in the near future).
On a brighter note, we acknowledge the existing strong partnerships in place, which in turn increases their rate of network adoption.
Overall, for the reasons listed below, Picolo believes that investment in UChain is highly speculative:
• Weak advisory team and technical development team relative to other projects
• Intense competition within this sector with the risk of overcrowding as barrier to entry is rather low
• Relatively high market valuation of $63m
• Utility need of this project creating their own blockchain is not compelling
Not withstanding the above, we remain optimistic on how blockchain solutions could help eradicate several issues within the sharing economy. In addition to this, the market is large enough to accommodate several players. Therefore, there might be some upside potential should the project be able to execute their promised deliverables.
In light of the preceding, we remain neutral on UChain and believe that it requires a highly speculative appetite for investment.see more