Current

Summary

Mainly, we believe that Current will create a blockchain streaming network that both users and streaming platforms can benefit from. Conclusively, not only does it integrate with popular streaming platforms seamlessly, but it has the potential to revolutionize the streaming industry as it continues to grow.

Positives
Encourages Education: The Altair VR platform will be used to teach children a multiple ranges of subjects in a way that’s interesting and exciting to them.
Token Reduction: The smart contract will remove 1% of its token supply each day until it reaches
Teacher Incentives: Teachers also gain benefits from using this platform. They can share their information and be rewarded in Altair tokens as a result.
Good Team & Experience: Altair is a company that has been around for about 8 years. They have won multiple awards for their vision and continues to make more promising results as it grows.

Negatives
Education Issues: Altair’s platform might be in direct competition with traditional educational systems.

Overall, we are neutral about the ICO’s short-term potential but like its long-term potential. Our thoughts of the tokens for short term and long term are as follows:

For ​short-term holding

Neutral. The hard cap of $36 million for 35% of total token is on the high side, especially in this market condition, especially considering the project is an application which generally have lower valuation than protocols or platforms.

As the app is already functioning well, we believe the project can be developed with a fraction of the hard cap.

Also, the hard cap is in dollar term, which means it is going to be an even higher amount in terms of ether with ether price dropping sharply in the last few weeks.

For long-term holding

Good. The idea is solid and the project is led by a strong team who knows how to draw users. We believe the use of token makes sense and can improve the business model of the app.

Therefore, we believe the project has a good chance to succeed.

Overall the project looks serious, led by a strong team that knows how to make projects of that kind, the idea is simple and clear, which sometimes an extra advantage. What’s to be highlighted is a functioning application, which means that the project won’t sink even if the ICO goes below expectations. Therefore, their long-term perspective looks bright and stable. Among possible concerns we’d mention that being on the App Store for quite a long time, the app hasn’t got the expected level of hype, though the upcoming ICO may fix this. And one more challenge is attracting and keeping users on the platform by rewarding them with CRNC. If users won’t see any value in the tokens, they may switch to other apps.
We like this simple and attractive idea. You keep watching and listening absolutely the same services and channels, but at the same time earn tokens, discounts and other preferences just because you watch and listen the content on the Current platform.

This has been one of the most heavily hyped projects in the past few months, but that is not necessarily a bad thing – it proves the team know how to market a product, and it is itself a sound foundation from which to drive user adoption in the future.

Current has already built an MVP, so this is more than just an idea and a white-paper. But, they still have a long way to go in terms of building the blockchain technology. To do that they will need to recruit a substantial and skilled development team. Having recently cancelled its main sale on the back of pre-sale oversubscription, they appear well-positioned to provide the necessary budget for assembling a first-rate development team.

Apart from the execution risk, this is a very strong concept with good potential. If the team can execute on its plan, the network can accrue significant value. Companies that win in the attention economy become very valuable, very quickly.

It is difficult to compare the market value of a media asset with the network value of a platform like Current. However, as the white-paper points out, the capital being raised in the ICO is low relative to the amount that has been invested in similar media platforms. That implies there could be a fair amount of upside if the platform is widely adopted.

It’s important to remember that the goal of Current is not just launch an app, but to build and scale an ecosystem. When an investor purchases CRNC, they are placing a bet on the future of that ecosystem.

The Current ICO’s proposed model for democratizing the value of media consumption is appealing and innovative, but will only function if enough participants adopt the platform.

Our questions on Telegram were answered professionally and immediately, but the answers were directly copied and pasted from the whitepaper and left some doubt in our mind as to how many of their core platform content providers were actual partners, and how many were not. In fact, one answer strongly suggested that other networks such as the media giants mentioned previously (YouTube etc.) would *benefit* from Current’s business model, and would therefore hop on board as a matter of pure self-interest. We haven’t always seen this happen.

While we acknowledge that challenge, we also see a team leading the project who are fit for the task ahead. We’re going to place a small bet on the Current ICO.