NuCypher ICO Review — Privacy Layer For DApps (Ethereum?)

Video version here:

1. Idea
   Proxy re-encryption for distributed systems
   Privacy layer for DApps
   “NuCypher KMS is HTTPS for dApps.”
   “The NuCypher KMS leverages the power of proxy re-encryption to bring private data to public blockchains.”
   Keep in mind I might be misunderstanding the idea. Something between privacy and security.
   Unsure how much we need another privacy layer. Ethereum recently partnered with Starkware industries to solve the privacy issue. Wanchain has privacy integrated as well so if you want a private DApp you could use Wanchain.
   .

1. ICO Details/Status
   ICO drops said $4.3M sold on pre-sale in 2017
   TBA
   .

1. Roadmap
   Seem to have working product for enterprises. That’s about it
   .

1. Team
   Co-founder - PhD, bronze medalist in the 2003 International Physics Olympiad, LinkedIn.
   CEO was investment banker at Morgan Stanley
   Team from a variety of different places: San Francisco, Spain, Utah, Moscow, Oregon
   No strong blockchain experience
   Could be stronger IMO
   .

1. Advisors/Investors
   One impressive advisor
   No strong previous blockchain experience creating a cryptocurrency
   Polychain Capital, Hashed, YC combinator
   Interesting investors, could help with “pumpabillity”
   .

1. Hype (as of May 12th, 2018)
   Telegram 29,700
   Shows 4/15 times on Top7ICO (but kinda mediocre influencers)
   .

1. Sidenotes/Worth mentioning
   Partnerships Datum ($35M), MediBloc ($66.8M), origin protocol, Iryo, Wolk
   .

1. Summary
   No blockchain experience
   Good idea, some questions about implementation
   Team could be better
   Advisors could be better
   No token metrics
   I kinda don’t understand why so much hype TBH.

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