After reviewing the whitepaper for the second time I'll post additional opinions, besides
the one describing that Bitugene is concerned also about unforeseen impacts and side effects.
- The project is set-up on a very well elaborated basis describing the aspect of petroleum industry, its role, issues and solutions. The main approach is straight, clear and complete transparency is taken seriously. It is written that if the funding do not suffice the pre-set limit at the end of the crowdsale all the funds will be refunded. (take note)
The team is determined and ready for implementation.
- The business model diagram is strictly schematic, which is common at this point and also appropriate. However, the execution of plan is very important and two or three most important elements of the model (those which induce rapidly the flow and improve profitability right at the beginning) should be presented in details or at least with additional specifications. Any potential investor will demand for action plans of each mission or task. Therefore, the project is lacking methodology-wise detailed information.
The concept has a lot to show, so it should be pointed out. Focusing on marketing strategies comes at a later stage. What 5000 members can do today on telegram channel, later can be achieved by 1 PR specialist in a couple of days.
The coherence of the three sectors (upstream, midstream and downstream) is very important. This is shown in the document. What's missing is an example representing how to bind those into the dimension of flexibility and scalability.
- You should concentrate on standards. All ongoing projects rely on blockchain as a universal solution. It might be, although so many activities and blocks of data flying around each second ? That produces at least the same amount of disinformation. Without well defined standard procedures and backup-plans and not knowing how to react when something unwanted gets triggered, the whole structure can stall. A system like that could suffer consequences. See what crypto kittens did ? All the transactions have been jamming for several days now. ETH curve fell because of some digital pet.
The only trouble I see is that there is no article, no scientific paper or any other sign of the expertise published on the web and stating at least one of the team members. That's abnormal as well as the length of this post.I am looking into this project from day 1. I really see your last highlighted point. I hope to see some articles or any published content from the developer even though this is not common in this crypto world.
btw, length of this post is not abnormal. I simply see it as good post from a person who have good knowledge in this field. Keep questioning here. So that I will also learn to ask basically.
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