ICO Analysis: SmartContainers
Published on June 21, 2018
By Daniel WonTeamCEO and Co-Founder Richard Ettl – worked at Bobst Group, a Switzerland-based, global leader in providing equipment and services to label and packaging manufacturers, before founding Smart Containers with Nico Ros
CTO and Co-Founder Nico Ros – as managing partner at ZPF, a Swiss engineering company, he worked with famous architects Herzog & DeMeuron to construct the most expensive buildings in Switzerland before founding Smart Containers with Richard Ettl
On the adviser side, two names stand out.
Oliver Bussmann, former CIO of UBS and SAP as well as President of the Crypto Valley Association (association that promotes development of Zug, Switzerland as a blockchain and crypto hub – Crypto Valley Association partners include KPMG and ConsenSys)
Michael Guzik, ICO Lead for Lykke and former Head of Blockchain & Manager of Digital Strategy at PwC
VerdictThough Smart Containers is a proven company, the need for an ICO is vague, especially for its utility token LOGI, and LOGI CHAIN is yet to be developed. These factors along with other risks (discussed below) make this an investment that requires proper due diligence.
RisksSMARC is definitely a security token since it grants token holders the right to dividends from Smart Containers’ profits. In its ICO FAQ, the company says that SMARC are not categorized as security tokens under Swiss law, but investors should be careful. -1
LOGI CHAIN yet to be built. -0.5
Very small amount of tokens available to public compared to private and pre-sale investors. -0.4
Information on lock-ups or vesting vague at best (see “What is the vesting schedule for Team and Advisors token?”), -0.4
No max contribution information. This along with heavy token distribution to pre-sale and private investors is worrying. -0.4
Smart Containers whitepaper light on details about LOGI token utility and focuses a lot on the company’s accomplishments thus far, making it seem like a push for non-equity fundraising via the sale of SMARC tokens in an ICO. -0.2
Competitors like VeChain, Walton, WaBi, etc. working on blockchain integration into supply chain scenarios and in the case of VeChain, have much more significant presence and partnerships (e.g. being incubated by PwC) already established. -0.2
Growth PotentialThrough SkyCell, the company is well-established, operational, and has revenues. In the Smart Containers whitepaper, the team claims customers like Roche, Takada, and Novartis. +3.5
Skycell is partnered with large carriers like Cargolux and Emirates, already giving it an in in the industry. +2
Even if the ICO is mostly for fundraising via SMARC tokens, if the tokens really give token holders the right to dividends, investing in them could prove profitable if the company does well, which is very possible considering its past and present performance as one of the leaders in the container industry. +3.5
DispositionAlthough the need for LOGI utility token isn’t clear, and the LOGI CHAIN blockchain solution has yet to be developed, investing in SMARC tokens could prove profitable for investors that want to benefit from the dividends of a leading container providing company.
Smart Containers receives a
5.9/10.
Proof: https://hacked.com/ico-analysis-smartcontainers/