ICO Analysis: BrikBitPublished on November 17, 2018
By
Joshua LarsonProof: https://hacked.com/ico-analysis-brikbit/TeamFrom Italy, 12 team members are listed.
Paolo Lettieri – Co-Founder/CEO. Managing Partner for the last 9 years at UPA (Urbanism Planning Architecture), a giant international architecture firm based in Milano (Italy), Abu Dhabi (UAE), and Baghdad (Iraq).
Alex Dell’Orto – Co-Founder/CTO. 10 years as Senior Architect at Laboratorio 51 srl. Chairman of the Internation Blockchain Real Estate Association.
Stefano Prosdocimo – Co-Founder/CISO. Many years experience as H&S Manager for Sematic Italia and Autostrade per L’italia s.p.a.
Federico Riva – Head of Web Development. Owner of K30 Creative Studios for the last 7 years. 4 years Digital Art Director and Strat at Lorena Antoniazzi. Knitwear.
There are 7 advisors listed, 4 of those are in head positions at FIBREE (Foundation for International Blockchain and Real Estate Expertise), alongside Alex Dell’Orto.
VerdictBrikBit is working to create an Ecosystem where Real Estate Assets can be exchanged as Digital Shares. If they can deal with regulations, their protocol could eventually be used world wide. Right now though, only countries where a real estate blockchain based registry is under development will be able to participate. Countries such as Georgia, Sweden, Estonia, Ukraina, Honduras, Bermuda, Japan, India, Ghana, and Dubai Emirate (UAE).
Risk Although BRIK is a utility token, exchanges may label it security and stay away from listing it. -1
Despite speaking at several blockchain conferences since 2016, no partnerships have officially formed. When asked about this they said, “After a few successful International events and presentations, we are currently speaking to many big names within the Financial, Legal and Engineering worlds to study every aspect of the ecosystem.We will communicate every official new partnership as they become official.”-1
Regulations. They are Swiss-based and comply with the local authority FINMA. They have legal advisors to help once BrikBit starts entering other jurisdictions, but this won’t be easy. The framework to link property rights and digital shares will be challenging..-1
Unsold tokens will be stored and used for testing, for future operations, and for resources for the first Real Estate pilot project. This means lots of token dumpage coming down the road. -2
There is an insane amount of inflation created to reward the block producers. -2
Growth Potential Strong team +3
First mover advantage. +2
This isn’t just a platform, it’s a protocol that could eventually allow countries everywhere to run their own custom blockchain. +3
The team is out there on the conference circuit. Founder Alex Dell-Orto presented BrikBit in 2016 at the 1st IBREA (International Blockchain Real Estate Association) conference in Los Angeles. +1
Answering questions in Telegram, the team said, “We believe it will take 6/12 months to spread BrikBit adoptions to a core base of operators and corporations. However, to answer your first question (becoming the preferred method), timeframe realistically will be years, since we intend BrikBit to become the standard of the industry in the next few years.”+2
The whitepaper and roadmap are well thought out and professional. +2
DispositionBrikBit has first mover advantage in an industry with unlimited growth. However, their token metrics, lack of hype,and the state of the crypto market as a whole makes participating in this token sale extremely risky. Chances are BRIK will be much cheaper after it hits exchanges.
6/10
