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Logistics, Internet of Things (IoT), Infrastructure

BCL

Japan's scalable public blockchain for enterprises based on IoT

Rating: 3.6

Official contacts
Location: 9 Temosek Boulevard #4-02, Suntec Tower Two, Singapore 038989
Web-resources:   Website
Social networks:
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Pre-sale is scheduled to September 2018 and the first exchange is projected in 2019. The roadmap is not clear and remains the development process undescribed. Only demo version is available and may be sent by an inquiry.
Roadmap
September, 2018
Pre-sale
March, 2019
First exchange
Token description
ICO date
TBA
Token price
N/A
Platform
Ethereum
Hard cap
10000000
Capitalization of token pool
40000000
Blockchain
BCL
Token distribution date
N/A
Consensus method
Escrow
N/A
ICO currencies
USD , ETH
Bounty camping
N/A
Markets
N/A
Token functions
According to the docs, BCL is likely to support nodes, but it must be verified on later stages. The main functions are: block reward, remittance fee, issuing assets on BCL Chain, Voting and supply control. Some of these functions do not require the blockchain technology implemented.
Tokens distribution
Private sale (20.0%)
BCL Foundation (20.0%)
Block reward (20.0%)
Community (30.0%)
Founders & Advisors (10.0%)
Risks
MARKET

• Tight focus on the local Japanese market

• Strategy includes a production of IoT hardware that sound as a weak point in the strategy

PRODUCT

• Unclear and not detailed roadmap

• The project is in its early stage - demo

BUSINESS MODEL

• Some of the token functions do not require the blockchain technology implemented

FINANCES

• Overvalued token pool capitalization – 50M USD

TEAM

• Lack of legal and IoT specialists

Full analysis
Market

BCL is a commercial blockchain Infrastructure aiming to facilitate a P2P sharing economy among property owners and device suppliers, and standardize the protocol between blockchain and IoT devices. The team sees the primary implementation of its technology in sharing economy relations, especially in real estate. Considering use cases include Delivery, Car renting, Storage, Government. The team believes that the platform will allow developers to significantly reduce time to market and development costs by eliminating the need to learn a new programming language. BCL team is obviously focused on B2B market that is a standard strategy on IoT market. The targeted local markets are Japan and Singapore. Competitors are Databroker, Iota, IoTeX, IoTon – their approach is mostly global, so BCL may have a strategic advantage with lots of partnerships in Japan. The other difference is that BCL also is going to produce IoT hardware that sounds questionable.

Product

Enterprises in Singapore, Japan and around the world will be able to lock and unlock both digital and physical assets automatically through smart contracts. That is possible thanks to a new layer – the device layer, allowing IoT devices to be directly connected to the infrastructure layer. All the IoT devices will be connected, and all these connections will be managed on the blockchain. BCL Chain empowers organisations and individuals to safeguard their personal and shared spaces. Ecosystem allows partners to launch their own BCL subchains and issue their own assets. Also, BCL Foundation provides partners with smart contract templates, customised for the smart lock and the sharing economy. Companies will be offered a designed IoT smart lock, connected directly to the infrastructure chain through IoT Cloud. Additionally, BCL Foundation plans to integrate more IoT devices, such as a Smart Delivery Box, Smart Appliances, and Smart Cars together with third-party ecosystem partners soon. Pre-sale is scheduled for September 2018 and the first exchange is projected in March 2019. The roadmap is not clear and remains the development process undescribed. Only demo version is available and may be sent by an inquiry.

Business model

According to the docs, BCL is likely to support nodes, but it must be verified on later stages. The main functions are block rewards, remittance fee, issuing assets on BCL Chain, Voting and supply control. Some of these functions do not require the blockchain technology implemented.

Finances

BCL aims to attract 36K ETH that is equal to 10M USD. We see it much, but it must be noted, that such numbers turn rare and we may not highlight this as a risk. By the way, total token pool capitalization is 180K ETH that is obviously too much considering both current market conditions and ETH exchange rate. Private sale share in the token supply is 20%. Tokens are locked for the first six months and liquidate 12.5% per following months. 20% of tokens are dedicated to BCL Foundation (likely to be the team’s share), and these tokens are not locked. Only 10% of tokens for founders & advisors are locked for two years. 30% of funds raised will be spent on the BCL development with 30% on hardware development and production.

Team

The team includes 6 members and 8 advisors. CEO is Ken Okamoto having more than 18 years’ experience in the internet industry. He participated in developing Rakuten’s payment ecosystem in 2005 and was a CEO of Rakuten Brazil. After that, he was a head of Rakuten Blockchain Lab and was responsible for Rakuten Enterprise Blockchain Platform and Rakuten Coin. CMO has 20 years of relevant experience working at IBM and Rakuten. CTO Denis Kuanyshbaev has vast experience in computer science and blockchain development, the team claim that he was engaged in Ethereum development. Core Developer studied Computer Networking Security, worked in Networking Security Research Team and had a project under the Korean Government.

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