Analysis of ICO PikcioChain
PikcioChain system is specifically designed to give users and organizations the possibility to verify data and to sell/reuse the verification of the data. One of the key features of the platform is that data is stored and transferred in a P2P way, not on the open blockchain. PikcioChain only stores the hashes and validation of the data on the proprietary, private, permissioned-based blockchain. Thus, the biggest issue with data sharing - security - is addressed. The data, or even the validator proof, can be offered on the PikcioChain marketplace for (re)sale. There is no need to verify same data over and over again.
There are 4 products within the ecosystem:
- PikcioMe - for the individual users (data suppliers)
- PikcioPro - for the businesses (data consumers)
- PikcioLab - for the developers (smart contracts designers)
- PikcioTokenSaleWallet - for token sales participants.
An early version of the PikcioMe app is available for download.
The business plan is missing financial projections, other components are presented. PikcioChain is a proprietary distributed ledger solution, therefore it has its own token - PKC. This the basic unit of account inside the system. Businesses can use PKC tokens to purchase customer data. Tokens will also provide access to identification validation from 3rd parties. In addition, tokens will grant users the right to deploy their own smart contracts and execute them in the safe blockchain environment. The tokens will be sold at a premium to business clients - forming a revenue stream for a company. PikcioChain users a B2B2C approach in their market strategy. There are partnerships with NEO (blockchain platform), Onchain and Ontology (management functions), E&Y, PWC and Capgemini (business partners). The roadmap is very detailed and with lots of milestones.
The go to market strategy is described in full details. The strategy includes regional expansion, national expansion, B2C incentives campaigns. PikcioChain also became part of a range of accelerators in various regions, giving access to a global network of business partners and influencers. The team successfully participated in various startup competitions and sector specific award programs. The team is active on Telegram and Twitter (it is also very transparent in answering questions) and has solid following, but other social networks are not covered.
The core team has professionals with experience in financial services, tech, network security, data security and big data algorithms, development, strategy and sales. Advisors add expertise in funding Ethereum based projects, crypto investments, strategic planning, marketing and communications, consulting and tokenomics.
The Vision of the Market
The team has professional background in the industry, so market research and competitor analysis were conducted at high level and are supported by lots of data. The team clearly sees the needs and limitations within the industry as well as risks.
Understanding of the Target Audience
The target audience is divided in two large groups: individuals and businesses. While the logic is understandable - data is shared by all individuals and businesses and everyone is concerned about security - but more specific segmentation is needed.
Data sharing and security market is very saturated and PikcioChain is aware of it. There is competitor comparison table in the White Paper. There are 6 competitors (including PikcioChain) and 7 blocks to compare (each of these blocks has several dimensions): valuation, services, security, blockchain, features, technical and business.
Strengths: company started in 2014. PikcioChain is a mass adoption system (financial and medical services, token sales etc). Signed partnerships with PWC, E&Y, Capgemini and others. Current clients are BNP Paribas and P2link.
Weaknesses: no financial projections, marketing strategy for social media should be stronger (more networks should be covered), audience segmentation needed.