INGOT Coin

INGOT COIN

Ingot Coin(IC) is an unprecedented, first-of-its-kind innovative ecosystem based on the blockchain technology that utilizes Smart Contracts to execute different contracts. It will link recently developed digital currencies with the existing financial markets thus eradicating inefficiencies. The platform wills enable participants to carry out transactions according to their financial requirements.

PROS

• The ecosystem eliminates the need for middlemen and external interferences that prevent traders from engaging fully in all markets.
• Ingot Coin will create a new pathway between digital currencies and current conventional market stakeholders allowing them to diversify their portfolio in an efficient and secure manner.
• IC Wallet, a blockchain based crypto wallet, allows users to easily and securely send, receive and store cryptocurrencies. It even features multi signatures and cold storage systems for extra security and reliability.
• Ingot Coins will be listed against other cryptocurrencies, fiat currencies, and conventional financial instruments. Investors can, therefore, do a lot with the coins including trading and diversifying their portfolios.
• The ecosystem will incorporate a digital Bank that will be available to participants round the clock. The bank will be digitally based and capable of functioning as a custodian. Its role will be to manage customer’s funds.
• Whitepaper; the white paper is extremely detailed, uses simple English and covers all facets of the ecosystem. It also details IC s aspects in a candid manner.
• Team member; the ecosystem is backed up by more than fifteen highly qualified team members. Gender balance among team members is also adequately catered for.

CONS

• the white paper is available in English only. This may slow down the spread of an otherwise interesting ecosystem to all parts of the world.
• There is no exchange rate when changing from one fiat currency to another, one digital currency to another or from one crypto to IC token.
• A brief description of experience and achievements of team members is not provided. This can provide an insight that goes a long way in building the trust of potential investors.

SUGGESTIONS

• There is a need to translate the whitepaper into all the major languages in the world. Considering the platform is targeting a global market such an effort will pay handsomely.
• Providing the exchange rate between different fiat and digital currencies will motivate individuals who have cryptos in other networks to join the ecosystem.
• One paragraph on the expertise, experience, and accomplishment of each team member will do a world of good to the would-be investors.

NOTE

Ingot Coin will play a vital role in addressing the issues digital currency holders, financial markets, and traders face. Allowing participants to change one digital currency to another and/or to fiat currency is a very attractive feature. I am fascinated by the usefulness and liquidity of the platform and I believe most other crypto users will. So, yes I will invest it.

INGOT Coin solution will have to compete with IndigeGoGo ICO, Fund Platform, FastInvest, NousPlatform. The regulation behind managing and investing funds might be a significant barrier to growth for INGOT Coin. There are already several projects aiming to create tools simplifying ICO investments, which already raised money. For instance, BankEx which creates PoA protocol to tokenize different types of assets, already raised 70M USD and is about to launch asset-backed exchange. There are already working cryptowallets and crypto-to-fiat exchanges that have large paying customer base. That is why in this industry the probability of success of Ingot coin is very small. 

The product development start and the current stage of development is not clear. The product description is long but most of the provided information is redundant and does not make it clear to understand the product advantages. The project claims to provide high levels of liquidity in its proprietary exchange. However, the team does not even give an idea of how this liquidity will be delivered. The project has quite an ambitious roadmap which does not seem feasible. MVP is not available. There is no information on the fee size. The business model description is sketchy and does not give a good explanation of how the company will earn. It is unclear how the rest 5 components of the Ecosystem(apart from Exchange) will earn money. The soft cap of 35M USD seems to be way above the median figure of comparable companies. The hard cap of 90M USD seems to be way above the median figure of comparable companies. The hard/soft cap ratio is around 3 which allows to assume that the project wants to attract as much money as possible and does not have a clear understanding of required budget. As the company will sell 75% of its tokens, the project valuation will be around 120M USD which is a tremendous value for a project without available MVP.

There are no specialists with technical background in processing and acquiring data from exchanges. The CEO does not have previous experience in the financial industry. Most of the core team members have business majors and does not have previous technical experience. Most of the team members previously worked at INGOT Group companies, such as SIgma Investments LTD, INGOT Brokers, and others. However, there is no available information about the track record of these companies. There is no CTO in the project. Now, there are just 2 technical specialists in the team, according to their website.

Strengths: INGOT Group (the company behind the project) is in the market since 1993. Multiple signed partnerships in place. Detailed business model, including financial model and projections (financial statements for 3 years starting with 2019, when the product is fully launched). Very strong team supported by 11 advisors. Well-written and well-constructed WP. Strong media coverage.

Weaknesses: no marketing plan; social media activity should be more intense, according to analysts from expert-coin rating. There is no competitor analysis.

The INGOT platform covers everything to facilitate financial transactions through a blockchain ecosystem. The ultimate test comes in whether the users get to understand the potential impact it could have not only for business but the future of blockchain ecosystems in general.

All-in-all, if you are in search of a blockchain ecosystem, then you would want to investigate more on the INGOT initiative. While it isn't much different from other models, it is a definite recommendation for those who want to rely on a single consortium of portal for all your blockchain needs.

INGOT Coin is a promising and ambitious project. From the first pages, Whitepaper allows you to feel the scale of the project and evaluate the depth of the material.
The roadmap has the first milestone in Q3 2017. The team devoted the first three months to identifying, organizing and analyzing the problems of the crypto-market users. The results helped INGOT Coin to formulate the idea of a multi-module platform, and at the same time the team managed to avoid blurring of the focus. That stands out them from the crowd.
The INGOT Coin team is made up of seasoned specialists who were working together previously, including financiers, analysts, and people with business experience. However the technical part of the team is not represented. We consider this as a disadvantage.
The second point that should be noted is the claimed security properties of the token. This can attract attention of the regulators and create additional legal risks for the project.
As for the rest, our opinion about the project is positive. We recommend that you remember the name of the new player and pay attention to the project.