SciDex ICO Review: Marketplace for Scientific Data Utilizing Readable and Adaptive Smart Contract
Key Statistics
Premise
3.5/5 – Pretty Good
SciDex is creating a way to make exchanging scientific data using Smart Contracts easier. It is a way to let businesses or organizations translate written contracts to smart contracts. They plan to achieve this through SciDex Protocol and its application to SciDex MarketSpace.
The SciDex protocol is a second layer protocol can aid in generating smart contracts that are readable for both people and machines, adaptive, and secured. In addition to this a proven, secured, and trusted oracles are included to allow more complex transactions. This protocol allows data to be shared based on specific terms which help generate smart contracts that are independent but still maintains compliance.
The SciDex Marketspace offers everyone the opportunity to allow users to securely and easily share and monetize their own data using blockchain technology. It allows users to gain access, search and correlate collection of data from multiple sources using AI-powered search engines. Actors in the MarketSpace action call to ask for new data streams, data contribution or data curation.
With regards to data pricing, the SciDex Market Space will analyze and compare a dataset on the market to generate a suggested price. The estimated price is based on popularity, quality, and quantity of the data. Each dataset can be divided into several parts for sale and of different value. Other products and features that would be available in MarketSpace are: DataDex, SciEngine, Call for References, Call for Contributions, Call for Services, Call for Curation, the Exchange, Subsidy and Grant Model, and a Community Ranking System.
Team
3.5/5 – Pretty Good
As a start, SciDex’s founding team is a four-person team. Shuo Wang and Alex Bouaziz are both co-CEOs while Ofer Simon is the CTO and Constantin Overlack is the CMO. It is a diverse team comprised of scientists, engineers, and entrepreneurs. Together with their team of advisors and partners, SciDex team’s focus is on innovative technologies involving big data, artificial intelligence, deep learning, and blockchain.
Token
3/5 – Good
SciToken or SDX is the native utility token to be used in the SciDex Market. It is ERC-20 standard compatible on the Ethereum blockchain. This token ensures or enables core functions such as exchange, call for actions, quality assurance, trusted membership, voting, and others. The proceeds from the token sales will be utilized for research and development, marketing and business development.
There is a total of 1.2 billion SDX to be distributed at an initial price of USD 0.10. Thee have allocated 19.8 percent for the private sale and 5.5 percent for the public sale. The team and their advisors together with advisors will be given 16 percent and 10 percent respective. 32.5 percent is allocated for the community, and the remaining is set aside for reserve funds.
Risk
3/5 – Medium Risk
As stated in their whitepaper, there are a few risks that the project may or may not be implemented or executed as they planned. Such factors that may affect the outcome are atypical with such projects and not limited to: decrease in digital asset prices, technical difficulties, or a funds shortage for development activities.
The team has been diligent with their two-year roadmap, with the SciDex Alpha to give you an initial look at the application of the SciDex protocol, available on their site.
Summary
3/5 – Good
SciDex will enable businesses or organizations to solve some of the issues with regards to using smart contracts. If the team can deliver, this project will give a chance for businesses to earn easily by sharing and selling data. It can also aid in speeding up advancements of studies, projects, and others for various industries.
Whitepaper | Telegram | Twitter | Bitcoin Talk
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Global From Asia ICO Briefing does extremely early-stage research of token offerings. As the project progresses, details may change significantly or completely. Always do your own research and do not invest more than you can afford to lose.
The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.
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