There was a message on one of telegram groups about this project, so I've decided to check it out.
Their site promises a lot and this is the last thing I am looking for, all I need is facts/accomplishments/real partners and so on. So I decided to do so research and I came across this analysis, which is A MUST READ if you thing about investing in Storiqa.
It definitely helped me to make my decision.
Here are key points:
Negatives:
• Involving Crypto currencies as a payment mode may not be lucrative if the currency is highly volatile, not sure how the company will figure out the rate at which a product will be charged unless its based in Fiat currency and accordingly converted.
• The company would also need a Trust or Bank which is ready to open an account with them for the conversion of Fiat to cryto and vice versa
• As opening an online store can be very easy, how would the company verify the authenticity of the seller as there could be possibilities of scam
• If a new start up can think of an ides like this, giants like Amazon, IBM are already working on their own crypto currencies and blockchain which will be a threat once they in the field.
• They claim to supply all services necessary for expansion including sales, marketing, communication like 24/7 support, IT support for just 18,000 STQ per year. Its hard to believe how the cost is going to be beared by the company
•
Upon receiving the order the seller supplies the item in question to the special Storiqa warehouse, the Quality Assurance Department, where the item is checked for apparent defects, gets repacked and/or branded if necessary; there we also take pictures of the item. If the item does not possess the stated features or does not meet the quality requirements, it is returned to the seller. In the above case the cost of transportation, warehousing, transportation damage coverage is going to be enormous, not sure how that will be covered The last key is a good research done by the author of this analysis, as it shows to me that is not real life scenario especially when we are talking worldwide. If this would be only in one small country, then opening one small warehouse and running this sort of operation is possible, but worldwide this would be even hard and too expensive for giant like ebay, if they would decide to open warehouses worldwide.
Full analysis can be found here:
https://steemit.com/storiqa/@investbuddy/storiqa-ico-analysisThis post is not for current investors/coins holders/bounty participats and anyone who is somehow related and or invested in Storiqa as you have clearly made your mind. This post is for anyone just like me who is looking for full analysis rather than bounty/promotion posts/videos.
