The problem
Present applications in the area of IoT (Internet of Things) struggle with security issues, limited scalability, and frail connectivity. To overcome these issues, developers either propose the application of Service-centric Networking (SCN) or blockchain technologies. Both approaches, however, come with central drawbacks that reduce their applicability in the area of IoT. On the one hand, SCN provides connectivity and scalability but cannot guarantee security, trust, and an incentive for service providers. Blockchain technology, on the other hand, is able to provide security, trust, and an incentive, while requiring the existence of a stable and well-connected network, which is difficult and resource/time-intensive to develop.
The solution
Blockcloud seeks to combine the best of both worlds by developing a network that can utilitze the advantages of SCN and blockchain technology while omitting the potential drawbacks of only applying either SCN or DAG technology. As such, Blockcloud proposes a novel approach that could potentially solve the most daunting issues of IoT applications.
Pros
- The team proposes a novel solution to the IoT dilemma
- No other IoT/DAG ICO is working on a similar solution => first mover advantage
- Team consists of true experts in the area of IoT
- Strong scientific background of the team
- Roger Lim is an advisor
- Blockchain ICOs have been performing exceptionally well in the past
- Blockcloud is relatively late (other DAGs are already in development); the team seeks to turn this into an advantage by learning from their mistakes
- The project has already gained the interest of some reviewers and received an average rating of around 83% from 3 different reviewers
Cons
- No blockchain experience of the team and only little blockchain experience of advisors
- Only 15% for sale, $15 million hardcap (according to their website)
- No massive social media hype as of yet
- Scientific background of the team could potentially be a hindrance in the area of business
- Around 40% of the tokens are dedicated for the team and the company's foundation
- No MVP as of now
- Some grammatical errors in the whitepaper
- Number of advisors is unnecessary large
The verdict
Blockcloud proposes an interesting solution to the IoT dilemma established blockchains such as IOTA and Byteball are confronted with. If successful, their approach could become a unique way of overcoming the necessity of developing a large and stable network that current solutions in the IoT area are confronted with (for instance IOTA).
This is not financial advice. Please do your own research, I'm only stating my own opinion for entertainment purposes only.