Clear Aid proposed by founders as trustful and transparent solution for performing charity operations. Usage of blockchain can make all ecosystem transactions visible for donators, and, according opinion of founders, can make all operations less expensive than usual way because of performing payments without ‘middlemen’ – financial institutions, government regulators etc. Also founder believes that establishing a blockchain platform will prevent suspicious cases like that happened in Haiti, where Red Cross received USD 500 million and built only 6 houses instead 130.000 for victims of earthquake.
According expert-coin.com analysts’ opinion, there is one global problem remains unsolved – verification of donates’ receiver. Let’s imagine person who prepares a fake report about ill children with photoshopped documents, photos stolen from real ill children’s website etc. He will ask for donation in this blockchain-powered platform and, because there is no verification of charities’ askers more than can provide usual charity fund, he will receive his donations from platform users via all its fast, clear, low-costed blockchain-powered engine. And in real life, this product will provide less verification of askers than usual charity fund, because charity fund usually performs verification in real life – via performing requests to hospitals, governmental organizations, personal meetings etc. and this product will be able to perform only remote verification of documents scans (or ‘scans’) and probably reputation in system checking.
So, the product idea is good but unfinished. But, first release of the product was planned on 1 July 2018, and ICO will be started at 17 July 2018, so this product looks real.
Founder gave in WP only token distribution data (50% of them will be sold at ICO. Soft cap is USD 1.7 million, hard cap – USD 8.8 million. No information about usage of funds planned to receive during ICO, no commission values or revenues/expenses plans were presented in WP or website. Probably it looks like this because team has no financial member. Looks like one of a scam project signs.
Marketing strategy was not presented neither in WP nor on website despite of available marketing person in project team. So, it looks very suspicious.
Team founder and members have real and probably confirmed LinkedIn profiles, so looks they are real persons. But team is not well-balanced – there are no finance person and blockchain professionals are only as advisors, not as team members. This can make project weak in income/expenses/ cash flows etc. planning, at one side, and vulnerable to specific blockchain technologies risks related to payments and smart contracts, at other side.
Founder said only a few words about market in WP but we can assume that participants of this ecosystem will be charity funds (probably approved by some undisclosed way), at one side, and donators in crypto-currencies – maybe they will be cruptoinvestors who want to use part of their profits to charity. Unfortunately, there are no researches of these positions, no information about governmental regulations – but this theme is actual for charity funds because cryptocurrencies are not a legal payment method in most of countries.
As we said in “The Vision of the Market”, target audience as donators probably will be crypto-investors who want to do something good using their profits, and charity funds. This part needs more details about one and other sides and how the platform will solve issues related to governmental regulations of charity in different countries, but authors gave no information about this.
Competitive advantages of blockchain solutions are very clear – less expensive because of low payments’ price, transparent and fast solution. But these words can relate to most of the blockchain projects. No specific advantages for charity segment were found there.
Project strong sides: low price of payments, fast speed, transparent.
Project weak sides: no clear business plan, marketing strategy, market researches, no understanding of competitive advantages specifically for charity.
So our position is negative, probably scam.