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Skrumble

Skrumble – application setting a secure video connection and providing decentralized and encrypted file storage on nodes

Rating: 3.8

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

Detailed review

Stage of product development
Private beta


Token description
ICO date
28.04.2018 - 28.05.2018
Token price
25% discount phase А
12.5% discount phase B
Platform
Ethereum
Hard cap
12000000
Capitalization of token pool
38000000
Blockchain
ERC-20 with further exchange to Skrumble tokens
Token distribution date
N/A
Consensus method
Practical Byzantine fault tolerance
Escrow
N/A
ICO currencies
ETH
Bounty camping
N/A
Markets
N/A
Token functions
Tokens on balance determine the time of storage, file size and the number of member in a conversation
Tokens distribution
Crowdsale (26.0%)
Foundation (29.0%)
Team and Advisors (30.0%)
Community reward (15.0%)
Risks
MARKET

Risks of government influence due to the function of restriction avoidance

PRODUCT

Beta is available only for private testing

BUSINESS MODEL

Uncertainty regarding the Practical Byzantine fault tolerance consensus algorithm application

FINANCES

Low tokensale share – 26% only More than half of tokens is held by the team and advisors – 54% The lack of target financial estimations

TEAM

Possible poor focus on project if the team continues to be engaged in projects of Skrumble’s clients Lack of legal specialists

Full analysis
Market

It is not obviously which market Skrumble will operate in as its product combines a few ideas from different industries. The main purpose of the product is to set a secure video connection and achieve a high standard of data security. Main competitors are messengers Telegram/Kin with encrypted messaging and corporate apps for video conversations such as Skype or Zoom. Skrumble ecosystem appears to be well-conceived and the product is likely to be in demand thanks to the lack of services with such well-formed structure. App’s positioning has corporate direction aiming to overcome some corporate security obstacles. In addition, product includes functions enabling countries’ restrictions avoidance.

Product

Skrumble is a platform for conducting video calls with decentralized encryption and storage. The network provides an encrypted P2P connection for users. The records of calls and files are split, encrypted and distributed among nodes that are generally partners or new network members. The app is also able to prevent files from copying and screening. Skrumble may be used as a platform for other apps thanks to SDK interface. Additional functions must be noted as well: payment processing (in partnership with AION), freelance market (smart contracts contribute to fair deals for tasks) and the SDK of smart contracts for making deals while calling. Tokens on balance determine the time of storage, file size and the number of member in a conversation. The network is built so that I could avoid countries’ restrictions. The technology was licensed in 2015.Cloud storage experience of the company is likely to have a good influence on project’s development. According to Skrumble, their products are used by 400K people. Beta is available only for private testing but it is to be available for public on April 28 before the tokensale start. Roadmap is clear and detailed.

Business model

Blockchain enables data encryption and automatic distribution on nodes, sets connections, manages IDs of users and conversations. Smart contracts are generally a service for fair deals. Tokens on balance determine the time of storage, file size and the number of member in a conversation. The product applies its own blockchain developing by the team of 27 developers and ERC-20 tokens are used for conducting the crowdsale. Definitely the blockchain is a competitive edge and is used smart.

Finances

Hardcap is 20K ETH resulting into 65-75K ETH of token poll capitalization with 26% token for sale that is close to Kin. Taking into account the current number of users, capitalization per user is much higher. More than half of tokens are held by team and advisors (including the Foundation) that increases the risk of further token price influence on. Target financial estimations are not available. Bonus for early investors is fair and reasonable.

Team

The company has been operating since 2014 and is focused on cloud storage services for business and they are used by more than 400L people. It has 30 licenses including those used in this project. The team includes more than 30 specialists, some of them has participated in blockchain projects. As an example, the one has been developing software since 1998 including 5 years in GE and 4 years in Blackberry. CEO is involved in business activity since 1978 and has executed different companies in telecom industry. Co-founder is responsible for marketing and is a veteran in it also having MBA. The team includes experienced financial specialists being previously financial consultants. The only role missing is legal but it may not be considered as an obstacle.

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