Minggu, 26 November 2017

TOKEN HERO FOR BANKING IN SOUTHEAST ASIA


Long time readers of our blog will know that we cover new and interesting projects in the crypto community. However, of late, there have been such a spate of ICOs that even our editors who have been in the space for over 5 years, have been overwhelmed. We are therefore picking out a few promising ones with the best signal in the marketplace – good team, existing communities, real life use cases and the belief that the team can execute on that vision. In that spirit, we want to discuss a new project with our readers – HERO Token.
Before we describe the full project and the problems it is solving, let’s look at some information about the company itself. It is operating out of Asia, and already has two of the best known venture capital players behind it – Softbank and Alibaba. For those who may not know, Softbank is a Japanese juggernaut with assets of over $200 billion, with serious ambitions in the tech world. It has backed some of the largest software companies and beyond in Asia and even in the United States/Silicon Valley. Alibaba is a Chinese ecommerce whale that is constantly looking to expand its footprint into newer markets from India to South East Asia.
With this background in place, let’s look at what the HERO token does.

The Problem and Market

In this really heated up ICO market, it is important to differentiate the wheat from the chaff. One quick way to do that is by looking at the problem the team is trying to solve, and the market. A further analysis will require to consider whether the team has the capability to pull off what they’re promising to deliver. This risk is present with all ICOs really, but the team behind HERO token have a lower execution risk because they already have a successful venture-backed business and will likely be able to pull all the required resources to make their vision a success.
The HERO Token is built as a banking solution for the developing world. It’s technology isn’t limited to a specific market. However, the team is rightly focusing on South East Asia at the moment. That’s a smart move because there’s a lot of opportunity in that region right now. There is disparity among nations while some with to catch up, and therefore the rates of growth can be much higher than Western Europe or United States. This provides ample opportunities to grow the business and user-base.
The big product of the team is providing credit to their market. They already have a live, working product being used by everyday people called PawnHero. This is a mobile-based pawn shop that is able to reduce interest costs up to 50% compared to traditional pawn shops. Therefore the team has demonstrated experience building a real product for use. There was a whole 25 minute Bloomberg video on the company as well.
ICO/Blockchain’s Use
With an ICO, the team wants to take that technology and market expertise and apply it not just to pawn-based loans but to uncollateralized loans. Now historically this area is fraught with risk and lots of investors have gotten burned in the past. However, HERO has a big advantage – blockchain.
With information about the loans being put up publicly, the team has access to a lot of data and past history of payments. In addition, they are developing systems that predict credit worthiness for the markets where credit scores are not widespread. The team is building out a reputation-based identity system on the blockchain combined with knowledge about credit risk. This is a powerful combination.
The company will be responsible for building more complex machine learning models for credit worthiness with information from a lot of sources like employment history and social media profiles. It is also good to remember that countries like Philippines and Indonesia are seeing rapidly growing use of crypto like Bitcoin and they local people are well versed with these digital currencies.

HERO Token and More Details

Unlike many other ICOs that are looking more and more like a money grab, the team has a very specific vision that it wants to execute. The team has local market knowledge with real products on the ground. Almost as a good faith agreement, the team is selling 80% of all HERO tokens that will exist in the ICO, and keeping only 15% for the team. The rest is for advisers and early supporters. This is a good deal for investors as they control a significant majority of the tokens that will ever be created.
The cost of a HERO token in the ICO is 1/200 ETH, i.e. for 1 ETH you get 200 HERO tokens. The team has a cap of 250,000 ETH on the fundraising, which at a price of $300 per ETH comes out to $75,000,000 or $75 million for the 80% tokens, or $93.75 million for the full market capitalization. This may seem high compared to some recent projects. However, given the market size and potential, it might just become another unicorn coming out of Asia, especially with the kind of backing the project has already seen.
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