Opportunities:
The team has proved their capabilities with KYC Chain which is already working with different blue-chip organizations. It is very difficult for startups to be commissioned by established financial institutions and government agencies, so this speaks to the team’s ability.
The client base of KYC Chain is highly complementary to SelfKey. The partnerships that are in place with various ICO projects such as Kyber, AirSwap, Polymath and others should help drive the adoption of SelfKey quickly because the target users are already familiar with cryptocurrency.
After the Equifax hack which allowed attackers to obtain crucial personal identity information for 143 million people, the public realizes the importance of a decentralized identity system.
Going forward, SelfKey will be mentioned every time their technology is used in a token sale. In cryptocurrency, news flow is one of the main factors that drives valuation because the field is so speculative.
Concerns:
The completed product won’t be finished until 2019 and beyond according to the roadmap, which is a fairly long time.
There are other blockchain projects in the identity authentication space, including Civic and Sovrin, so SelfKey may not be the winner in the space. However, we believe SelfKey has a broader scope and is further along in development/adoption.
Conclusion
Overall, we like both the short- and long-term potential for this ICO. Our thoughts of the tokens for short term and long term are as follows:
For short-term holding
Good. Very few ICO projects have the level of real world partnership and adoption that SelfKey is expected to have.
There were higher bonus tiers before the public presale, but there is an anti-dumping policy in place (i.e. in order to qualify for the highest bonus tier, half of the tokens are locked up for 6 months). Therefore, we believe there should be enough unmet demand for this project to have good short-term potential assuming the current market environment holds.
For long-term holding
Good. KYC Chain has partnerships with numerous well-known organizations in the crypto space that are complementary to SelfKey’s business. We believe SelfKey can become the market leader in KYC for token sales and get the ball rolling in adoption, which is one of the most important factors in determining whether the project will be successful.
