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Airchain Network

Airchain - P2P platform for the air freight. The token will give its holders the right to claim right over parcels sent on the platform and obtain real time tracking scores for certain entities which have a sufficient track record on the Ethereum Blockchain. User is able to pay for parcels fee and exchange parcels and income on a P2P level without intermediary fees.

Rating: 2.4

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: https://github.com/airchainnetwork/
Details Description Risks Full analysis Team

Detailed review

Stage of product development
https://itunes.apple.com/us/app/airchain/id1364550033


Token description
ICO date
14.05.2018 - 14.06.2018
Token price
N/A
Platform
Ethereum
Hard cap
25000000
Soft cap
3000000
Capitalization of token pool
50000000
Blockchain
Ethereum
Token distribution date
14.06.2018
Consensus method
Escrow
SelfKey
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
The Airchain token will give the token holders the right to claim right over parcels sent on the Airchain platform and obtain real time tracking scores for certain entities which have a sufficient track record on the Ethereum Blockchain
Tokens distribution
Tokensale (50.0%)
Team (30.0%)
Partners (11.0%)
Bounty (6.0%)
Advisors (3.0%)
Risks
MARKET

Tough competition from the established companies Poor Value Proposition for a potential user

PRODUCT

Scalability problem due to the poor motivation for third-party travelers and their poor coverage together with possible lack of trust from senders Demo stage of the product with no significant functions working

BUSINESS MODEL

Own token and further own blockchain do not give significant advantages to the product

FINANCES

High token share for team and advisors – 33% Overestimated Hardcap – 25M USD No financial estimation available No detailed information on funds raised usage

TEAM

The lack of industry experience in the team Half of team members do not have LinkedIn profiles

Full analysis
Market

Sending parcels through a third-party traveler potentially decrease transportation time but here are some obstacles. Three significant parameters are crucial when choosing the transportation service: time, security, price. The platform aims to be the best combination of them providing the best service, but in fact this type of transportation is likely to face up to the lack of trust. Customers are likely to choose the best security and different combinations of time and price. It may be well established DHL or FedEx with long time of delivery or transportation services with express delivery and premium price. Therefore, Airchain will suffer tough competition from such services. As the result Airchain may only capture a bit small market share on this market. Partnerships with Amazon (AWS) and Selfkey are to increase operation efficiency of the platform.

Product

The platform includes a third-party traveler to be a deliveryman for small reward. Therefore, there are no transportation companies included in a value chain and the trust is based on this third-party traveler. The business model is likely to face up to scalability obstacle as these travelers are rare participants. It is a problem of some legal-tech companies in aviation industry. It is also a barrier to users due to the lack of trust to such travelers even passed KYC (in comparison to established companies). The platform enables secure deals thanks to smart-contracts and parcel tracking. Roadmap is not detailed enough and consists some unclear points like «Ideas and market research» for 2-3Q 2018. Current stage of product development is demo without any significant functions. ERC-20 token issued will be exchanged to the token of the own blockchain later.

Business model

The only advantage blockchain carries here is smart-contracts implication for secure transactions. But own token and further own blockchain have no rational grounds as it give no significant advantage to the product. Product functions are possible to be developed with Ethereum smart-contracts and token.

Finances

Hardcap is 25M USD that may be considered as overestimated for the platform’s functions. Moreover, the company does not describe in details how it will use funds raised and how they will be structured. The team does not provide any financial estimations of the future operation. Token pool distribution look fair but the team’s part is overestimated too.

Team

Information about team team is a bit poor as half of them have no link on LinkedIn. CEO worked in Google in R&D and has been a Head of Development in Yandex for 2.5 years. Developers have less experience in relevant fields. Moreover shipment specialist with industry expertise have not been found.

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