Cryptocean

Cryptocean
ICO date: 01.08.2018 - 05.09.2018
Industry: Banking
Description:

Cryptocean is a financial ecosystem that facilitates processing crypto payments around the world and can be integrated into banking,

How it works:

Cryptocean is a payment ecosystem that allows businesses, exchanges and banks to join it for a more profitable and easy trade. It offers global P2P exchange, letting users view all crypto selling and buying requests to choose the most suitable ones to satisfy. The level of liquidity this creates is unprecedented. Additionally, this nullifies competition, as it will be more profitable for rivals to become partners rather than competitors.

Cryptocean allows for crypto and fiat transactions on the platform, making it effectively a substitute for a banking system, and an upgraded one at that. It introduces plastic cards linked to crypto, virtual crypto cards and linking your wallet to a mobile Paypass.  Cryptocean also wants to take crypto to legal sphere, obtaining a license to operate as a fully legal entity.

Regular users who join the platform get access to legally paying for their goods with crypto, retailers get the opportunity to enhance their payment options, catering to crypto community. Banks and crypto exchanges benefit by charging a commission on money operations and exchanging digital assets.

The final vision of the product is an ecosystem that allows multiple people to profit. Banks, crypto exchanges, retailers, escrow providers and users.

Innovation:

The prospects of this idea Cryptocean is developing are huge. It is a well rounded ecosystem that combines most solutions on the market in one decentralised platform that all can benefit from. However, they have many rival services that offer parts of the solution Cryptocean offers.

Innovation score: High

Token value:

CRON is a utility token of the platform, used to pay the commissions on all the transactions in the ecosystem. Since the platform Cryptocean is developing has potential for a rather big volume of transactions, once people start pouring in, CRON is going to grow in price fast.

Token value score: High

White paper:

The white paper is well written with many flow charts that explain the most difficult parts of technical aspects. It presents an in-depth market review, describes the concept of the platform in great detail and illustrates how the architecture is structured. It also shows the company’s business model and financial predictions for different funding scenarios.

White paper score: High

Roadmap:

The company was started in 2017, in early 2018 they began development process. In March 2018 Cryptocean started making agreements with banks on opening accounts and issuance of cards. In June the company has made agreements with payment systems and escrow partners, launching alpha versions of payment system, transfers and crypto accounts.

In the end of June they expect to launch alphas of auto payments and credit cards linked to crypto and get the first three corporate clients to join the platform. In September the team will launch beta versions of all services listed above and alphas of conversions, escrow, P2P transactions and advanced analytics. After launching betas of these services in October, the company expects to have a fully operational system in late November 2018.

Roadmap score: High

Business model:

The main source of income that Cryptocean receives is commissions on transfers made inside the ecosystem, payments from escrow and P2P services comprising 10% – 20% of total revenue.

The strategy the company has developed requires a 3 year long phase of rapid growth, a phase where the platform grows its user base, a deepening phase that lasts as long, and aims to increase the number of active users and their life value, and the final partnership stage, that aims to introduce new services and grow the ecosystem. The company is expected to become self-sufficient by the end of the first stage, in 2021.

Business model score: High

Team:

The company’s CEO has been doing strategic planning for a number of projects in Russian government and had some entrepreneurial efforts in the past. COO also worked on big government projects. CTO has over 20 years of experience in the IT, creating technological innovation for the biggest retailers in Russia. Head of Marketing participated in projects for Visa, Wrigley, Unilever and MTC.

The advisory board is too big for all members to be mentioned in the review. It features ex-CEO of Skolkovo Foundation, one of the largest business accelerator for startups; a financial analyst; a man with over 20 years of experience of managing large scale projects; a legal advisor with experience in financial and IT fields and a serial entrepreneur.

Team score: High

Competitors:

As for competitive advantage, it is not that easy with Cryptocean. On one hand, there are a lot of ICOs that partly do what this company offers. Take Paymon for example, or Agate. On the other hand, Cryptocean wants to peace with them and convince potential rivals to join their ecosystem.

In any case, Cryptocean cannot receive the highest mark possible, because its team is a bit weaker than those of some of its competitors.

Competitors score: High

Overall thoughts:

Cryptocean tries to create a very ambitious ecosystem that will be beneficial for a whole lot of people. Despite its team not being on the highest level of quality, it has good chances of getting ahead in the industry.

CRON token can be a good investment.

Website: cryptocean.io
Whitepaper: Whitepaper

Overall Score

High

4.3 / 5

Risk score

Medium

Crowdsale


Pre-ICO

Pre-ICO start date: 15.05.2018
Pre-ICO end date: 15.07.2018

ICO

ICO start date: 01.08.2018
ICO end date: 05.09.2018
Soft cap: 3,000,000 USD
Hard cap: 70,000,000 USD

TOKEN DETAILS

Ticker: CRON
Token price in USD: 0.01
Bonus Program:

30% – up to 3 000 000 USD*

25% up to 4 000 000 USD*

22% up to 6 000 000 USD*

20% up to 8 000 000 USD*

18% up to 10 000 000 USD*

15% up to 20 000 000 USD

10% up to 30 000 000 USD

7% up to 40 000 000 USD

4% up to 50 000 000 USD

2% up to 60 000 000 USD

* – Pre-sale only

Legal


ICO Platform: No
Country Limitations: USD, UK, Canada, China
Registration Country: Estonia