Bluzelle ICO Review And BLZ Token Analysis
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Bluzelle ICO Overview
New blockchain protocols for launching decentralized applications (dApps) are only just beginning to emerge and be utilized on the global market, revolutionizing the way products and services function. The scales at which dApps have the potential to operate are limited only by processing power and the speed of the protocols they are based on. Protocols like Ethereum is are not designed to handle the demands of data storage and management, which would require enormous amounts of computing power, slow down networks and of course, increasing cost. The Bluzelle ICO may well be a game-changer when it comes to solving the issues of speed, scalability and function.
Bluzelle ICO Value Proposition
The Bluzelle ICO value proposition is to solve the data storage and management issue identified by the team themselves while building dApps for large enterprises. Bluzelle is a decentralized, scalable database service for dApps. Without a decentralized database platform like Bluzelle in place, the decentralized internet will face barriers to scale and function with less efficiency.
The Bluzelle ecosystem has two primary actors: producers and consumers. Consumers spend their Bluzelle Token (BLZ) so they can store and retrieve data. Producers then put up a proportional stake of BLZ, to guarantee their service level, and then provide the requested resources to the network. The network encourages competition between producers- higher quality service can charge more BLZ (and must also put up a higher stake). The system reduces costs, increases scalability, and eliminates the complexity of existing database systems. The reduced costs and scalability through decentralization are make Bluzelle more attractive to small and medium enterprises utilizing dApps as well.
Bluezelle ICO Team
Founder and CEO, Pavel Bains, has 15 years experience in operational management and digital tech. He is former CEO at Storypanda, a digital book company that he founded. Having already faced and overcome the challenges of raising VC, establishing a tech startup and launching Bluzelle’s previous dApps, Pavel’s track record is
Co-founder and CTO, Neeraj Murarka, has been a computer engineer for over 20 years with a specialization in digital finance and computer systems architecture. He has served as lead software engineer at multiple large enterprises.
Systems Analyst, Nitin Cunha, has blockchain development experience with Bluezelle’s previous dApp projects in addition to 20 years in the tech industry to boot.
Bluzelle ICO Strengths and Opportunities
We think the utility of BLZ is a strong point of the project. The Bluzelle network is actually based on two tokens. BLZ is an external ERC-20 token that bridges the Bluzelle Native Token (BNT) with ETH. BNT is an internal token to the Bluzelle network alone that underlies the ecosystem, which consumers pay and producers earn. The BLZ token exists on exchanges for customers to gain access to Bluzelle services. Enterprises have an incentive to purchase the token not only to access the scaling capabilities that the network provides, but also for the reduced costs associated with decentralizing data storage. There is strong incentive on the consumer end to accumulate the token for scaling and speed, as well as on the producer end to compete for rewards- all signs of an ecosystem with high potential for growth.
The market fundamentals for the Bluzelle ICO are exciting. The team have targeted a market demand they encountered while building other dApps for large financial institutions; that is, the issue of storing large sets of organized customer data. To give a better picture of how sizable the Bluzelle ICO market could be, one prediction claims by 2019, at least 25% of global banks will have implemented blockchain applications into their systems. We like that the Bluzelle team have offices in Vancouver and Singapore, positioning themselves to take on both the Asian and North American markets.
As for partnerships, CEO Pavel Bains informed us that Bluezelle will be migrating the KYC products they built for HSBC, OCBC and MSIG to the database protocol. This is an encouraging step toward real adoption of the product by huge players in the finance and insurance industries. The strong fundamentals of the project have attracted investment from blockchain investment firm Kinetic Capital, as well as fintech VC groups Lun Partners, True Global Ventures and Global Brains.
Bluzelle ICO Weaknesses and Threats
Bluzelle faces some competition in the realm of decentralized databases with the likes of Wolk, Ties and Fluence. Wolk, a decentralized DB powered by Ethereum is shaping up to be Bluzelle’s main contender, but there is an important aspect that sets Bluzelle apart. Bluzelle operates on its own protocol, allowing for integration into any blockchain and also serving non-blockchain products as well.
Strategic partnerships are a crucial element for success in business, and arguably even more so in the cryptoworld because of the nascent character of the market. While Bluezelle has plans to work with previous clients, we’d like to see more information made available on what exactly those partnerships will look like. Additionally, we haven’t seen any activity on Github in over a month. When we asked CEO Pavel Bains about product progress, he told us by the end of December an MVP will be released to demonstrate what data storage on Bluzelle looks like.
With a total market cap of $60 million and token distribution of 33% to investors, the Bluzelle ICO scores decently by our pricing metrics. Still, we must note that between 40-60% of the ICO hardcap is being raised in the private presale and discounts range between 20-30%, which could push the price down when BLZ hits the exchanges.
The Verdict on the Bluzelle ICO
The Bluzelle ICO project fills a significant need in the decentralized internet market. An expert team with solid experience building blockchain dApps is hard to come by in such a new industry, but there you have it. A product demo to demonstrate progress and more support from partnerships would shore up any doubts we have that still remain. We’ll be making a medium size bet on the Bluzelle ICO.
Learn more about the Bluzelle ICO from our Telegram Community by clicking here.
Today’s Date: 12/20/17
Project Name: Bluezelle ICO
Token Symbol: BLZ
Crowdsale Hard Cap: $19.5 million
Total Supply: 500 million
Token Distribution: 33% to private/public crowdsale, 22% retained by company for future crowdsales, 10% for community and development pool, 15% for founders, 5% for company employees, 5% for seed investors, 10% for advisors and bounties
Price per Token: 1 BLZ = $0.12 USD
Maximum Market Cap (at crowdsale price): US$60 million
Bonus Structure: Private pre-sale receive the following bonuses, all subject to a 30 day lock-up period
$200,000 – $499,999: 20% bonus
$500,000 – $999,999: 25% bonus
$1,000,000 – $2,000,000: 30% bonus
Presale Terms: No public presale
Important Dates: ICO begins late January/early February
Expected Token Release: 30 days after close of sale
ICO Review Disclaimer
The team at Crypto Briefing analyzes an initial coin offering (ICO) against ten criteria, as shown above. These criteria are not, however, weighted evenly – our proprietary rating system attributes different degrees of importance to each of the criteria, based on our experience of how directly they can lead to the success of the ICO in question, and its investors.
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This category accounts for the leaders, developers, and advisors.
Poor quality, weak, or inexperienced leadership can doom a project from the outset. Advisors who serve only to pad their own resumes and who have ill-defined roles can be concerning. But great leadership, with relevant industry experience and contacts, can make the difference between a successful and profitable ICO, and a flub.
If you don’t have a team willing and able to build the thing, it won’t matter who is at the helm. Good talent is hard to find. Developer profiles should be scrutinized to ensure that they have a proven history of working in a field where they should be able to succeed.
What is the technology behind this ICO, what product are they creating, and is it new, innovative, different – and needed?
The IOTA project is a spectacular example of engineers run amok. The technology described or in use must be maintainable, achievable, and realistic, otherwise the risk of it never coming into existence is incredibly high.
Tokens which have no actual use case are probably the worst off, although speculation can still make them have some form of value.
The best tokens we review are the ones that have a forced use case – you must have this token to play in some game that you will probably desire to play in. The very best utility tokens are the ones which put the token holder in the position of supplying tokens to businesses who would be able to effectively make use of the platforms in question.
There doesn’t have to be a market in order for an ICO to score well in this category – but if it intends to create one, the argument has to be extremely compelling.
If there is an existing market, questions here involve whether it is ripe for disruption, whether the technology enables something better, cheaper, or faster (for example) than existing solutions, and whether the market is historically amenable to new ideas.
Most ideas have several implementations. If there are others in the same field, the analyst needs to ensure that the others don’t have obvious advantages over the company in question.
Moreover, this is the place where the analyst should identify any potential weaknesses in the company’s position moving forward. For instance, a fundamental weakness in the STORJ system is that the token is not required for purchasing storage.
With many ICO ideas, the timing may be too late or too early. It’s important for the analyst to consider how much demand there is for the product in question. While the IPO boom funded a lot of great ideas that eventually did come to fruition, a good analyst would recognize when an idea is too early, too late, or just right.
Progress To Date
Some of the least compelling ICO propositions are those that claim their founders will achieve some far-off goal, sometime in the future, just so long as they have your cash with which to do it.
More interesting (usually) is the ICO that seeks to further some progress along the path to success, and which has a clearly-identified roadmap with achievable and reasonable milestones along the way. Founders who are already partially-invested in their products are generally more invested in their futures.
Community Support & Hype
Having a strong community is one of the fundamental building blocks of any strong blockchain project. It is important that the project demonstrates early on that it is able to generate and build a strong and empowered support base.
The ICO marketplace is becoming more crowded and more competitive. While in the past it was enough to merely announce an offering, today’s successful ICO’s work hard to build awareness and excitement around their offering.
Price & Token Distribution
One of the biggest factors weighing any analysis is price. The lower the price the more there is to gain. But too low of a price may result in an under capitalized project. It is therefore important to evaluate price relative to the individual project, its maturity and the market it is going after.
The total supply of tokens should also be justified by the needs of the project. Issuing a billion tokens for no reason will do nobody any good.
Communication is key. The success of a project is strongly tied to the project leaders’ ability to communicate their goals and achievements.
Things don’t always go as planned but addressing issues and keeping the community and investors in the loop can make or break a project.