Expert Coin

SupPorter ICO

People Don’t Trust Charities, and for Good Reason
2.1
Total score
Category:charitycryptocurrencyinvestmentplatformsmart-contract

Detailed evaluation of the project

3
Product
2
Business Plan
1
Marketing Strategy
5
Team
1
The Vision
of the Market
1
Understanding of the Target Audience
2
Competitive Advantage
Basic expert assessment of the project SupPorter ICO

Product

The SupPorter Network is positioning as smart donation processing system for non-profit and political campaigns. Now, according the researches listed in WP, only 3% of donated funds are using in its basic purposes. And, according the reports of existing crowdfunding organizations, only money processing takes 3-15% of funds raised.

According the WP, The SupPorter will allow the organizations participating on its network with extremely low fees like 1% (because using cryptocurrency system for money transfer) and without strict conditions. And donators and receivers are not having to use cryptocurrencies because of donations will be seamlessly converted into SP tokens on front-end and back-end. Founders believe that their token will be growing on the market, so it will be win-win statement.

Additionally, The SupPorter Network will have automated system for preparation all financial reporting forms used in nonprofit organizations.

Unfortunately, there were no roadmap presented in WP or website. Also, there are no information about that most of 97% donations that were not reached their purposes are not commission or other fees, but they were just stolen by fraud non-commercials. Usage of this platform cannot help in avoiding this because there are no planned any checks of receivers.

Briefly, this project is just a money transmission system with usage of blockchain and hopes to token price growing.

Business Plan

WP presented only plans to having commission as 1% of funds sent via system, and plans to conquer not less than 0,01% of global fundraising market (USD 300-500 billion), but without presentations any clear ways of reaching this. 50% of tokens will be sold during ICO/pre-ICO, founders/advisors will receive 15% of them. 50% of funds received will be used on platform development, and 30% - on sales, marketing and related things.

Marketing Strategy

Marketing strategy was not presented in WP.

Team

The SupPorter Network will be based in SupPortr Inc. – a family company of four brothers Porter who are relating to Georgia (USA) politicians family. Team has a CFO, a Government Relations officer, a CMO and IT developers. Also it has a strong advisory board with proved participations.

The Vision of the Market

WP contains a very brief review of global fundraising market without selecting a main issue of it – fraud non-profit organisations. So, the vision of market looks incomplete, which is very strange for persons who works with fundraising all the time.

Understanding of the Target Audience

The target audience of project consists from non-profit organizations and donators.

Competitive Advantage

The main competitive advantage of the project is extremely low commission fees. Looks like no more advantages are here.

Summary

Project strong sides: political family as founders; lowest commission fees; simplified financial reporting; clear token distribution.

Project weak sides: there were presented no roadmap; no information about avoiding fraud non-profits; no clear business plan presented.

So our position is negative.

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