ICO Analysis: Etherisc
Publishedon June 7, 2018
By Fredrik VoldTeamThe Etherisc team appears to be fairly large with lots of experienced people from a variety of industries. The team is also more senior than many other blockchain projects, which in our view is better than having a team of only young people with no prior work experience.
There are three co-founders on the team, each one with his own area of responsibility:
Christoph Mussenbroch, Protocol & Architecture
Stephan Karpischek, Ecosystem & Community
Renat Khasanshyn, Insurance Products & Revenue
All three co-founders have Etherisc listed as their employer on LinkedIn.
Other than the three founders, there is also a large team of people with expertise in many different areas, including engineers, blockchain developers, PR staffers, UI designers, and insurance industry experts.
Most team members have listed Etherisc on their LinkedIn profile, which indicates commitment to the company and not just a lose affiliation (which so often is the case with ICO projects).
The team is also spread out geographically with people from lots of different countries.
VerdictWith several working products, a large and experienced team, and an an industry ripe for disruption, Etherisc is in a better position to succeed than many other ICOs we have reviewed recently.
The team also appears to be in a good position when it comes to regulatory compliance with the authorities in their home base of Switzerland, which they claim to be in close contact with.
Despite this, we do have some concerns regarding the team’s preparedness for the ICO (or “Token Generating Event” – TGE – as Etherisc calls it).
Firstly, the many white papers that are published on the website make it difficult and confusing to find the information investor’s typically look for before investing. These documents should be merged and rewritten into a single easy-to-understand go-to resource for ICO investors.
Secondly, we are critical of the team’s decision to only make 30% of tokens available to the public through the ICO. Generally, anything less than 50% public ownership of tokens challenges our view of what a “decentralized” platform should be like.
Risks Several long and confusing white papers with key information about the token sale missing. -2
Only 30% of the tokens will be available for sale, while a whopping 25% is reserved for the team and founders. This goes against the idea of decentralization. -4
Growth potential Etherisc already has several products that either have been built or are under development, which is a very positive sign. The blockchain-based “Flight Delay Insurance” and “Hurricane Guard” are the best known among these. +4
The insurance industry is undoubtedly ripe for disruption, and the “tokenization of risk” is an interesting idea that could improve efficiency and lower the costs for all parties involved. +3
The team is large and experienced, and there appears to be a strong level of commitment to the project from the team members. +3
DispositionAll in all, we agree that the insurance industry is a good candidate for disruption. We also like the idea of “tokenization of risk” and letting anyone participate and essentially buy risk in return for a profit. This way, there is a huge potential for savings and cutting down on unnecessary bureaucracy in the insurance sector.
However, we believe the team still has some work to do on the promotion and marketing side in order to make this ICO more understandable for the general public. All token sale details also need to be made available in one place, and the team should explain clearly their reasoning behind the token allocation model they have chosen.
Overall, we arrive at a score of
4 out of 10 for the Etherisc ICO.
Proof: https://hacked.com/ico-analysis-etherisc/
