A CryptoStandard Score of 5.8 and a Negative+ outlook are assigned to BCharity (Pre-ICO starts on 01 Apr 2018)
Despite claiming to be the first of its kind as a charity information platform, BCharity actually faces severe competition. There are many blockchain-based companies and traditional organisations working on very similar ideas. In addition, two aspects leave much to be desired for our team. First, there is a lack of a working prototype, leading to a low reliability. Second, the community size is relatively small, which may indicate inadequate community engagement and hype. Therefore, an outlook of Negative+ is assigned.
BCharity is a blockchain platform that connects philanthropists and charity organisations. Donors will donate using BCharity Coin, and charitable funds will withdraw the donations as fiat currencies to execute their projects. With blockchain technology, BCharity hopes to achieve instantaneous, safe, and transparent donations.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
Our team finds the idea unappealing. There is little potential for the platform to expand to a global scale, considering it may encounter obstacles including language barriers and the digital divide of third world countries. While BCharity initiates translation campaigns to help resolve the language barrier, the number of participants and the translation quality are full of doubts.
Competitiveness
Entering the market relatively lately, BCharity has limited competitiveness. The low threshold of market entry means there may be big threats from new entrants. BCharity needs to develop more unique strengths differentiate itself from potential competitors.
ICO
Clear details of the ICO has been presented. Unsold tokens will be destroyed, and there will be no additional offerings of tokens. he company has a reasonable fund and token allocation to fuel a stable development. However, the lock-up period for owners is not mentioned,
Team
The team is diverse and well-educated. Founders and team members have blockchain-related and serious business experience to run the company. They also have advisors with strong backgrounds, one of whom is also an advisor of TraDove, which raised US$52m in its ICO.
Community
The company has a rather small community size. Both its Facebook page and Twitter account are not very popular in terms of the number of followers. On top of that, direct communication channels such as Telegram group are not available. Only administrators, instead of the founders, on BitcoinTalk are responding to investors.
Marketing
Despite the lack of a YouTube channel and a video to introduce the ICO, the company has been covered by The Coin Shark, and made itself present on different social media, such as Facebook, Twitter, Reddit, Medium etc.
Documentation
The information is well communicated through the white paper and one pager. They are sufficient and consistent.
Financials
BCharity did not provide any prior or future financials of the company.
Reliability
The reliability of BCharity is adversely affected due to a few reasons. First, the company lacks a working prototype to be available before ICO. Second, a detailed execution plan in addition to a simple roadmap is absent. Third, founders cannot be contacted and thus do not communicate with investors.
Feasibility
Our team believes language differences could potentially limit the project’s feasibility, it remains unclear how effective and popular the program “BCharity Translate” will be. In addition, the verification process of the charity status could be tedious and documents of charity organisations in less developed countries might not be sufficient. These all contribute to a low feasibility.
See their profile: https://cryptostandard.io/ico/bcharity-international-charity-exchange/
@BCharity
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