Analysis of ICO Datarius
Datarius is a project of social cryptobank of a new type with transparent terms. In the crypto banking industry Datarius will be the first financial institution able to offer its clients a full range of individualized financial services that are carried out within the framework of a decentralized system.
Datarius will operate on the basis of P2P ecosystem.
In the financial market, this is not a novelty, but Datarius plans to expand and improve the range of services offered. The range of services is really wide and includes almost the entire set of banking and not only banking services. These are P2P lending system, payment cards, cryptocurrency and fiat currency exchange, bank deposits, services for small and medium businesses, credit histories, ratings, educating center for users and even pension fund, commodity exchange and stock exchange.
Datarius is a partially enclosed system in which a part of the funds always remains inside.
The cryptobank will guarantee that as a result of the stock exchange jumps, the "financial bubble" will not grow and will not burst at the most unexpected moment.
The project looks very large-scale and challenging. But the founders of the project had better limit themselves to a few areas and focus on them, and not plan a pension fund, commodity exchange and stock exchange at the same time. These plans look unrealistic. As of March the prototype of cryptobank is not developed..
The founders of the project plan to collect 1 million USD soft cap and spend it on preparation for the project and market research. Pre-alpha version of the base system will be released in July 2018, and the finished commercial product will appear in the first half of 2019. Datarius is planning to receive banking licenses in different jurisdictions, to connect to SWIFT, etc. But no word about how the team will do all this. There should be a very thoughtful legal part in the description of the project. It might be reasonable to enter into a preliminary agreement with regulators in different countries or at least "test the waters".
Token DTRC (Datarius Credit) is utility-token based on smart contract ERC-20 Ethereum.
Datarius entitles active holders of tokens to receive 65% of all commissions and fees of the Datarius project. Distribution will take place annually, starting from 2019, in proportion to the number of tokens of a holder.
Commissions for the operations of the cryptobank will be from 0.02% to 0.15% of transaction amount. Despite the scale of the project, the road map is very brief, not detailed. Alpha-version of the base system will appear only in July 2018. The concept looks like a sketch of ideas and a project of such caliber needs a detailed and clear business plan, financial analysis, budget calculation.
Detailed marketing strategy is missed, but it is vital for a project of this scale.
On the website of the project declared referral program. The main channels of promotion are social networks. On Facebook there are more than 9,000 followers, posts are published daily and gain a few hundred likes. Twitter has more than 3,000 readers, several hundred likes and reposts. BitcoinTalk thread has 155 pages since November 2017. But social networks alone are not enough for the full marketing of this project.
The project team includes 8 people experienced in economics, finance, marketing, law, as well as 7 advisers in the field of fintech and blockchain. The Datarius team declares that they have at least 10 years of continuous experience in banking and financial spheres, including work with problem loans, experience in large international companies. But the White Paper doesn't reflect that, it looks amateurish. In addition, there are required a team of several dozen employees, 8 people definitely not enough.
The Vision of the Market
The White Paper presents data concerning the growth of investment in fintech from 2012 to 2016. Data for 2017, and forecast to 2018 aren't presented. It is claimed that the greatest interest of users is gained by online currency exchange transactions. But any researches are not given.
There are the data for P2P lending market: previous years and the forecast of growth to 2020.
The founders of the project evaluate the growth of fintech market very optimistic and believe that their project will be unquestionably successful.
And there is no analysis of competitive environment.
Understanding of the Target Audience
The product is designed for a generation of young people, the so-called millennials, who have prejudice against traditional banking system. People without a credit history, crypto enthusiasts, customers of traditional banks. The target audience is not described in detail. But much more detailed analysis of specific segments of the target audience is urgently required
The project compares is compared with traditional banking sector and the founders of the project focuse on the following benefits:
- fast p2p lending
- low commission
- transparent terms
- the most individualized products
- integration with traditional banking system.
All this, undoubtedly, would be a huge advantage of the product, but it looks only as beautiful dreams so far.