Expert Coin

Analysis of ICO AlfaToken

29.03.2018

Product

AlfaToken is a platform for simple and straightforward issuing tokens and creating smart contracts for different use cases without coding skills. To accomplish this, the team will build a web-based user interface and a set of audited smart contracts to securely create and deploy the smart contracts.

AlfaToken platform will provide the following services:

  • Service to issue tokens and create smart contracts for pre-ICO or ICO without software engineering skills;
  • Service to automate the distribution of tokens to investors when funds are collected in different cryptocurrencies;
  • Service helping to run and manage bounty programs;
  • Service to create smart contracts for p2p real estate rentals;
  • Service to create smart contracts for p2p lending (including mortgages);
  • Service to create smart contracts for p2p insurance;
  • Service to create smart contracts for sharing autonomous cars.

The long-term goal of AlfaToken is to provide easy-to-use service to create smart contracts for other kind of business where smart contracts can be implemented.

But there are tons of ICO appearing every day. Does the market need new members that don’t even have a programmer in a team?

Business Plan

As of March 2018, beta version of the product is already available. Further development of the platform is planned until mid 2019. Making a profit AlfaToken plans as follows. Projects’ developers will implement flat rates to create a smart contract on the platform for different use cases. In the same time for several use cases a fee in percent from a deal can be implemented as well.

Received funds will be distributed as follows:

  • 20% – R&D;
  • 20% – community & partnership;
  • 50% – marketing;
  • 10% – sales.

The business plan is not sufficiently developed, does not contain clear information.

Marketing Strategy

There are no any details of marketing strategy. 50% of funds will be spent on marketing. Project is presented in 10 social media. But they don’t look very active.

Team

The team consists of 6 people and only two of them are experienced in software development and engineering. Other members have experience in entrepreneurship, sales, PR. These skills are not exactly relevant to the project.

And there is no proven information about their experience, executed projects and so on. That’s why we can’t say that the team is open and experienced.

The Vision of the Market

The White Paper presents data on the state of digital asset market, that has already become a common place in most ICO-projects. Further, Alfa Token platform is compared with other existing platforms for issuing of tokens: Ethereum, NEW, Wavesplatform. AlfaToken sees its competitive advantage that this platform allows everybody to create tokens and smart contracts, without programming skills. But there are not a lot of ICO teams that don’t include programmers or software developers.

Understanding of the Target Audience

Project is targeted at people who want to launch ICO but don’t have programmers in their team. It looks very strange because ICO is very technological sphere and there is hardly a lot of teams that don’t have software engineers of programmers.

Competitive Advantage

The founders of AlfaToken consider its simplicity and accessibility for non-professionals as competitive advantage. But this is a very doubtful advantage for teams, because the use of the AlphaToken platform will indicate the lack of the team's basic skills necessary for the sphere of ICO-projects.