Details
Crowdsale Token Price: $0.00125 (Singaporean Dollars)
Hard Cap: $55,000,000 (Singaporean Dollars)
Tokens for Sale: 26,537,500,000 (50% of Total Supply)
Crowdsale Date: 01 June, 2018
"The Blue Whale Foundation’s ICO is set to rock the boat of the gig/sharing economy by leveraging on blockchain as a decentralized ledger to cut out the tech giants who are currently the largest middlemen between freelancers and their customers.
The Blue Whale Foundation’s blockchain-based WORK System of smart contracts is the only solution on the market designed to alleviate not only the financial and the legal problems with the “gig economy”, but also the looming concentration of power in the hands of a few tech giants." (Whitepaper)
Main Positives
According to their whitepaper they already have many partnerships and expansion plans happening this year. As of now they already have strategic partnerships with several companies that can bring great value to BlueWhale. The list of partnerships can be found on p. 31 of the whitepaper.
It is the first ICO that will come out on ICON. This will surely bring a lot of attention to it in the short-term and should have no problem with demand.
The idea can potentially be revolutionary if they can achieve even two thirds of their overall vision. Furthermore, they have a system of governance built into the platform in the case of legal disputes. They have a council jury which shows that it's thinking about the community and understands that decentralization is crucial. This is specifically applicable for this ICO since it's a network of freelancers.
Judging by their documentation they do have some type of MVP, however this is not 100% sure. Hopefully, as the crowdsale approaches it will be made clearer how far along they are with the development of the network.
The team is the strongest highlight for this ICO. Strong advisory board, developers, business minded people, and visionaries all present.
Main Negatives
"In order to prevent reviews carried out in bad faith, the verifier needs to submit 1% of the service cost to an escrow account. After completing a successful verification and receiving a rating above 4.0, the verifier will be refunded the 1% escrow payment, and also receive a verification reward" (Whitepaper). This will not be an incentive for reviewers to carry good faith, because 1% is insignificant to most people. It would have made sense to keep 50% of the service costs in an escrow until he/she steps their game up and gets a rating of above 4.
The documentation can be stronger. There is no information regarding the technicalities and no business model present as of now.
The use of the native token is not very clearly explained. From what I understand it's only utility is to pay for the SaaS service(s) offered.
Team Highlights
Jay JH Park (Co-Founder & CAO) - Jay has a very impressive professional background as he has worked for Hyundai, Samsung, and SK Telecom (Korea’s leading wireless telecommunications services provider). He also developed the world’s first java search engine named SearchWare TM. Jay seems to be both business and tech savvy, hence fitting the BlueWhale vision perfectly.
Injon Rhee (Advisor) - He has worked as the Vice President of Samsung for many years, and is currently also working at Google. He has a customer centric vision judging by his resume and has many connections. Injon can bring great value to BlueWhale in order to secure partnerships.
The Wrap Up
Short Term: Good | Long Term: Medium
For further information and more information about this project go to the following:
Isee0s Review Spreadsheet: http://bit.ly/2jpOUHX
Telegram Isee0s Announcement Channel: @IseeOs
Telegram Isee0s Chat Group: @https://t.me/iseeos_reviews
The information provided is not to be construed as financial advice in any shape or form. You are strongly advised to conduct your own research before investing. As an investor, you are solely responsible for your actions. I cannot be held liable for any losses you may make. This information is simply my view and opinion on the subject.