The project has strong competitors with a realised product.
A current patnerships do not create substantial value.
The product is not ready, the clear roadmap has not been presented.
The security mechanism does not consist with the blockchain technology.
No details about token economics has been presented.
Tokens would comply ERC #780 standard.
The project is overvalued.
A planned usage of funds have not been presented.
The project has only 3 people in the team.
Only one team member has an experience with blockchain.
According to PwC report $6T will be spent on IoT solutions between 2015 and 2020. Investments by businesses will grow up to $823B annually in 2020. Consumer spending on IoT solutions will rise up to $236B. Despite rapid growing of IoT market on the whole, the competition on this market is strong. Especially in blockchain providers, there are a lot of serious competitors in this field: IOTA, IoTeX, Hdac, Atonomy, ioeX and many more. Most of this projects already have MVP or even ready product. Compared to them, Beyond Protocol looks pretty weak. \nBeyond Protocol has joined Trusted IoT Alliance. It could help to build a lot of different applications and synergies within the alliance. However, it is impossible to understand, how this alliance creates value for the project. Project has a partnership with BTC City from Slovenia, however, to our mind, this does not create additional value for the project.
Beyond Protocol facilitate a universal protocol for IoT node-to-node communication, monetization and autonomy. It is universal protocol for all nodes including those with limited computing power. Utilizing cryptography and blockchain architecture to provide node-to-node system. System provides: trusted node identification, node integrity, trusted communication and coordination within the system. In addition, verified and secure software and data distribution would be available for the ecosystem. Also Beyond will create marketplace for node monetization.
Beyond Protocol creates node-specific, object-based identification to define a node’s identity and to establish trust and access right across nodes, users and application. Blockchain part of the project includes 4 types of contract: controller contract, proxy contract, application contract, uPort Proxy Contract. Connecting the Beyond Protocol with PUF (Physical Unclonable Function) and the ERC #780 contract enables self-sovereign identity on a blockchain, and establishes a global register of nodes.
The beyond protocol would provide high-end security for IoT system. According to their conception, each IoT device have DNA and in case of a hack/hijack attempt, all others devices will notice and isolate the infected device before the infection spreads to others. \nBeyond Protocol TestNet will be launched September 2018. It is supposed, that the testnet will span 3 continents, 2,000+ distinct IoT nodes, and 500+ sensors. API and web access to tokenized sensor data to be provided. Beyond Testnet will be open for alliance partners, for Beyond Labs partners and though an invite-only developers program. Currently, no product is available. Also, no clear roadmap has been presented.
There is no detailed description of token economics was announced yet. We know, that the marketplace would be created for monetization of nodes. As a result, tokens would be a mean of exchange within the ecosystem. In the absence of digital tokens, nodes would need to be equipped with credit card processing capabilities that require a far larger footprint on resource-constrained devices. The ecosystem for N2N Communication would consist of 2 layers: application layer and transport layer. The application layer includes 3 types of end points: storage, service providers and devices. Also, it allows to build applications on it using SDK, such as: device management and deployment, device analytics. The transport layer includes two parts: processing layer with master nodes and perception layer with client nodes.
The Beyond Protocol Token, which functions in compliance with ERC #780 standards. Currently, the biggest problem with IoT devices is that their entire network can be disrupted by a malignant party that wants to steal valuable and sensitive data, this problem is only going to become a bigger threat as the world continues to become dependent on IoT technology. Blockchain-based Beyond Protocol is going to solve this problem.
Financial details have not been officially announced. The Jonathan Manzi has told in one of his video, that Beyond Protocol sells 20% of tokens for $10 mln. As a result, total cap would be equal to $50 mln. Currently project do not have anything. Even the team consist through only 3 people. It is incredible valuation for this project at current stage. The only one thing, which has been done – promo videos recorded in Hollywood. However, it contributes nothing to the success of the project. No information about any token information is available. Also, there is no information about revenue streems. As a result, project is overvalued.
Currently, only 3 team member has been presented. Jonathan Manzi - Cofounder/CEO of beyond protocol. He describes himself as a frontier tech entrepreneur and advocate. He has studied in Stanford for only 1 year. After that, he left it to found own company – ink.me. It has raised $7M to scale it’s operations. It operates the vending machine for printing, which provides streamlined printing experience for the next generation. Denis Benic – cofounder of Beyond Protocol. Previously he also was a cofounder of ink.me. Before that, he founded Printbox with printing kiosks on the street in Ljubljana, Slovenia. The last announced team member is Gurvinder A. He used to be "Field" CTO Technical Solutions IBM and Member IBM Academy of Technology. He was invited to CTO role of a cross-brand cloud unit covering IBM North America. Serve clients for technical solutions. Project currently has announced only one advisor – Anoop Nannra, Head of Blockchain/DLT Initiative at Cisco, and Chair at Trusted IoT Alliance. Also, Beyond Protocol expands its team of engineers in Central Europe. However, no details have been announced about that. Brew Media Relations is responsible for global marketing strategy, including international event series. All-in-all, currently project’s team is weak for creating a new generation of IoT protocol.