Expert Coin

Analysis of ICO TheBike

30.05.2018

Product

TheBike is a platform that will connect shared bike companies around the world. TheBike system will have an API, adaptable for others. Bikes that will use the platform will have an integrated GPS and blockchain technology. The latter will provide decentralized management of bicycles and related transactions.

Business Plan

There is no business plan or monetization model.

TheBike Coin will be used for renting bicycles and other transactions within the system. ICO is needed to finance tech development of the platform.

Coins will be mined while shared bicycle is in use, this will motivate more and more people to participate in the projects (and to improve their health along the way).

Marketing Strategy

There is no marketing plan in the WP. There are Telegram and Twitter accounts with almost zero-following. Facebook link is broken.

Team

There are four team members with experience in computer science, blockchain, IoT, engineering and marketing.   

The Vision of the Market

There is no market research in the WP. It’s also unclear which market is targeted by the project: healthcare, crypto mining or shared bicycles industry.  

Understanding of the Target Audience

There is no mention of target audience in the WP.

Competitive Advantage

There is no competitor analysis in the WP. The idea of shared economy is popular in many business sectors and social life, moreover there are blockchain-powered projects that use main concepts of shared economy. The market is not empty, therefore competitor analysis (and benchmarking) is required.   

Summary

Weaknesses: the WP is short and doesn’t have key components (no financial projections, monetization model, marketing plan, competitor analysis, funds allocation, token distribution etc); the WP is written in poor English, so it’s rather difficult to understand. Team members don’t have social media profiles, there are no advisors.