Welcome to the world of Security Tokens
DESICO ICO Review
https://www.desico.io/
The team behind DESICO claim that their platform is a ‘world’s first’, so let’s find out why.
What is DESICO?
DESICO stands for Decentralized Ecosystem for Security ICOs. The DESICO platform will buy, sell and issue security tokens “In full compliance with the law”. And the important thing which I will type in bold is the tokens on the future platform WILL BE SECURITY TOKENS.
.. And this, you need to know because it is what DESICO says is the main thing that makes them so unique.
(I should note that the on-going DESICO ICO tokens sale itself, are not security based tokens)
There is plenty of discussion around the subject of security versus utility tokens but DESICO firmly believe that security ICOs are the best and most effective solution and they fully describe their reasoning in their extensive white paper, which incidentally is almost 60 pages in length and is packed full of interesting information.
Background
The company, who will actually be operating from within Lithuania, established their core team way back in the third quarter of 2015 when they created a P2P lending platform. After a crowd funding platform launch in early 2017, they went on to successfully receive an E-money license at the end of that same year. At the start of 2018, they became a member of the ICO regulatory development team, setup by the Ministry of Finance of the Republic of Lithuania. After their own ICO has completed, they will launch their beta security ICO platform, followed by the launch of their payment system for Crypto / fiat.
Full decentralization of the DESICO platform and its services is made possible by the use of smart-contracts on the Ethereum blockchain.
So, on the face of it, it’s already sounding pretty impressive, especially as what we have here is an already established company with working systems and a very experienced solid team behind it. More about the team later. .
Launch your ICO
DESICO say that it will offer clients cost-effective ways to launch an ICO and that they will handle the post-ICO period as well. Importantly, the ICOs will be ‘security’ based.
DESICO says that ICOs who wish to issue security tokens, will need to meet the DESICO team in person for their business model to be verified (to include KYC and AML). This will obviously lead to confidence for prospective investors.
Full Legal Compliance
Lithuania is a European Union and Eurozone member state and DESICO plans to operate within the legal framework of the Crowd funding Law of the Republic of Lithuania. ‘Fund raising without any legal or reputational risk’
A complete Service
DESICO’s primary service is to provide an Infrastructure for launching an ICO. They already have a European e-money license and will build a successful community supporting the whole infrastructure.
Some Key Service Components
Provide the necessary infrastructure for a startup business to successfully’ launch its ICO
Manage both crypto and fiat holdings for a businesses through the European e-money’ license Operation of an exchange, which will provide immediate listing and liquidity for the ICO's security tokens after completion of an ICO on the DESICO platform
High-quality smart-contract development and auditing
Did I mention an exchange?
The DESICO platform will have a regulated built-in exchange to provide liquidity for newly issued ICO security tokens. The exchange will be subject to the regulatory supervision of the Bank of Lithuania and ‘DESI’ tokens will be used to list and trade on the exchange
ICOs wishing to be listed on the DESICO platform will have to contribute a certain amount of DESI tokens as platform fees The idea is that as DESICO grows, more tokens will be listed on its exchange and trading activity will grow. As transactions increase, there will be a gain in the demand for the DESI token. There will also be exemptions to exchange trading fees to token holders above a certain threshold.
About the DESI Tokens
The tokens are Ethereum based ERC-20 and are called ‘DESI’
The crowd sale starts on August 20th 2018 and is due to end on November 1st 2018
Tokens for sale: 409,852,000
Soft Cap 3,500,000 USD Hard Cap 32,000,000 USD
Deposit Method Ether (ETH)
Total Supply 803,631,373
About the white paper
A white paper is often viewed as the ‘show home’ to an ICO’s real estate and in recent months, white papers have understandably the become the targets of reviewers and potential investors, and quite rightly so. If your white paper is hard to read, full of spelling mistakes and grammatically incorrect, let alone plagiarised from another one, then it will reflect very badly of the whole ICO and could potentially be the death nail as regards the success of the project.
During my research of various ICOs, I have trawled through many white papers and I am pleased to say that in general, I am finding that they are actually improving in quality. DESICO’s white paper is definitely very well put together, looks great and flows very well. Each time I was about to question a particular aspect, the answer jumped out at me as if anticipated. The current version is nearly 60 pages in length and packed full of interesting and easy to read information. I certainly recommend you sit back and enjoy the read!
The DESICO road map can be summarized by saying it includes the achievement of the following five main components:
Full Legal Compliance of all activities including
A Crowd funding Platform for ICOs
A Built in Exchange
The use of E-Money Accounts
Establishing a DESICO Community
Future plans and goals
DESICO plans to service 50 ICOs and attract up to 50,000 investors to their platform during the first year of its operations. Within five years, it expects these numbers to increase to 1,6OO ICOs serviced annually, along with 1 million active investors.
The potential here is massive and early investors could benefit immensely by buying in at the crowd funding stage.
Meet the Team
It’s an impressive, large and very professional team with 22 members when I looked.
Laimonas Noreika - CEO and Co-founder, has a BA degree in Business Administration with almost 10 years experience in Business to Consumer marketing.
Audrius Griskevicius – Chief Business Development Officer and Co-founder, holds an MBA from Hult Business School and has almost 15 years of experience as an expert within the financial sector.
Darius Noreika Chief Operations Officer and Co-founder, has an MA in Economics from Vilnius University, Darius has over 10 years of experience working in financial analysis.
For this review, I am only going to mention the three Co-founders as the full list is quite long, but I thoroughly recommend that you take a look through for yourself. But let me tell you, as you look through the list of team members and advisors, you soon realize that the combined experience and skills behind DESICO is immense. Ranging from Business and finance to PR, Legal and marketing, Security, Web and Smart Contract development and so on. You should take a look at Tim Simon’s profile, the Chief Technology Officer’s very impressive write up!
It is also plain to see that the DESICO team of advisors all have impressive backgrounds and I can see exactly why there is a whole section in their White Paper called ‘Why we will succeed’.
An important reminder - The token’s are security tokens not utility tokens!
In conclusion
What DESICO are building is a fully legally compliant whole infrastructure with a platform to issue and trade security tokens with a security tokens exchange and crypto / fiat payment system.
When everything is in place and with the backing of a powerful team behind it, I see a strong and lasting future for DESICO.
They already have endorsements from:
The Ministry of Finance of The Republic of Lithuania
The Chairman of the Nordic Crowd funding Alliance
Enterprise-Lithuania
Enterprise Ethereum Alliance.
There is plenty more information including a useful FAQ to be found within their Web pages and I highly recommend to take a look.
If you have any questions you can join their telegram chat group at:
https://t.me/desicochat
As every ICO reviewer will tell you, do your own research and make your own mind up if you do decide to buy into the DESICO Crowd sale which starts on August 20th 2018.
https://www.desico.io/
Andrew Willis - Independent Researcher, Promoter and Adviser to ICO and crypto-currency related enterprise