ECOMI review - new generation cryptocurrency hardware wallet?
Hello guys, today I will present you a project called ECOMI, which will hold its token sale during the following period:
- Pre-sale begins: 15th April, 2018
- ICO begins: 30th June, 2018
What is ECOMI?
ECOMI is a digital assets ecosystem that aims to bring decentralization, ownership, privacy and control to the mainstream by combining a secure hardware wallet and a payment card with a mobile app. Developers will also be able to create Dapps through the ECOMI platform.
The ECOMI ecosystem is built around the following components:
- Secure Wallet - cryptocurrency and private key hardware device
- ECOMI One - purchase of day to day items using cryptocurrency
- ECOMI App - connects you to the secure wallet via WiFi
- ECOMI Vault - decentralized storage platform for viral personal data
- ECOMI Collect - secure storing and management of unique digital assets that have a verified owner.
TOKEN UTILITY
The OMI Token will mainly be used to access certain Dapp's in the ECOMI Ecosystem through staking, so you will have to put a certain number of tokens in a wallet where you own your private key in order to access the ECOMI ecosystem for free, otherwise you will have to pay in fiat or other cryptocurrencies.
Grade: good
PROTOTYPE
The Secure Wallet product was completed in Q1/2018, which means they have a prototype, but it's only a first version so still a lot of room for development left. I'm interested to see the ECOMI Vault being developed, since this is really a unique component of the project compared to the others in this space.
Grade: decent
TOKEN METRICS
The hard cap is $ 45 mil, which is a bit high considering the current market conditions, but most of the money will be used for product development, so I guess it is understandable. There will be 500 million tokens in circulation and a total number of tokens of 1 billion, from which 20% is retained by the team, founders & advisors and are vested over a period of 2 years.
Grade: decent
ROADMAP
The roadmap is long term orientated and full of product releases from the ECOMI ecosystem, which could lead to a token price increase if marketed properly. The highlights are the public release of the ECOMI vault and ECOMI collect in Q2/2019, so this looks like a long term hold from an investment perspective.
Grade: very good
TEAM
The team is very large and has enough experience in all areas required to succeed, but in the end it will all come down to execution and timing. If they can deliver on their promises in time, they can be successful. They also have experienced advisors who have had previous success with silicon valley start-ups.
Grade: good
COMPETITION
There is a lot of competition in the cryptocurrency wallets space, with the likes of Ethos or Ledger Nano S / Trezor being currently in a market leading position, but ECOMI comes with a different approach into this space, by connecting a hardware wallet with a mobile app, so they could have a share of the market if they can execute properly.
Grade: decent
HYPE
Their presence on social media is pretty low with their Telegram & their Twitter account both having about 600 members, which means they are pretty much under the radar at the moment. Their presence on other social media channels is also very low, but they currently launched a bounty program, which could help spread the word about the project and build a strong community.
Grade: insufficient
OVERALL CONCLUSION
ECOMI has a great idea with a long term orientated roadmap full of good releases and a good team to implement all the milestones from it. However they currently lack community awareness, which could prove to be a serious issue when trying to raise $ 45 million, but with proper marketing they could get enough hype going forward to the token sale event.
Final grade: decent
- Will I invest? - maybe
- Strategy? - long term
As usual, please make sure you do your own research before investing in any ICO / token and if you liked the article, don’t forget to up-vote / comment / re-steem it and check my other ICO reviews as well.
Thank you.
Useful links:
Website https://www.ecomi.com/
Whitepaper https://drive.google.com/file/d/1c8LZjH9MwkM48p9kBbw10t4S0fno_z3u/view
Lightpaper https://drive.google.com/file/d/1FBSU5TEodBjB4wtIrHiI3ze80zpOsD1w/view
Telegram https://t.me/ecomi
Twitter https://twitter.com/ecomi_?s=07
My Bounty0x profile @cryptocristi