Hot or Cold: PowerAgent ICO

My previous blog post marked the launch of my new blog series which featured — a blockchain-based marketplace for digital content, which you can find . As a follow-up, I will be discussing the ICO which will be launching on the . “Hot or Cold — An ICO Review” Wemark here PowerAgent 1st of June Hot or Cold? Value Proposition is a digital contract platform for creating, managing, tracking and protecting professional athlete contracts. The platform allows users with zero knowledge of smart contract programming to create an enforceable digital agreement. PowerAgent It links all parties involved in the athlete contract negotiation and agreement, between the sporting club to the athletes, and registers the entire contract process, from deployment to payment, displaying it in an at-a-glance, user-friendly interface, and guaranteeing autonomous payments when all contractual agreements have been met. is a geared towards sports clubs, athletes and managers. It will offer a variety of , as well as, enable users of the platform to create their own templates, which they can sell on the . Examples of such templates could be professional services contracts, endorsement contracts, appearance contracts and many more. In essence, will empower all parties to create, manage, track and complete an agreement which will have a (more on this later) PowerAgent blockchain powered platform smart contract templates marketplace PowerAgent “legally binding contractual effect” . will be built on a however, details on why they decided to take this route are unknown_._ PowerAgent “private permissioned Hyperledger blockchain”, Users of the platform will receive a digital profile upon registration. These profiles will have to be now our ustomer ( ) verified by a . According to (more on this later). K Y C KYC PowerAgent partner PowerAgent “a verified digital platform will be evidence that clubs are able to do business in the real world” Unfortunately, I can’t get a deeper understanding of the project as their whitepaper is yet; less than a month away from their ICO. As it stands, there are a few issues at hand: not available Although their website states that smart contracts are , this is a grey area in which research is still on-going. Although this might be the case in the future, (one of the ten largest law firms in the world) argues that “ You can find more information about the matter, . legally binding Clifford Chance no smart contract solutions have yet significantly displaced traditional ways of contracting, but that is bound to change. The technological and legal hurdles to implementing a fully-fledged, mature smart chain solution remain daunting”. here Introducing a that will carry out the KYC checks, makes the platform . There is that the carrying out these checks is impartial or fully transparent which could lead to athletes or sport clubs being incorrectly barred from the platform. PowerAgent partner centralized no guarantee PowerAgent partner Their website talks only about the financial aspects of the smart contract; there is no mention on how the finer details of the smart contract will be held. It’s unfortunate that there are a few question marks lingering, as this is an industry that could certainly do with a face-lift using the blockchain and cryptocurrencies —a gap has identified. PowerAgent Token & ICO Overview PowerAgent Below you can find a graphic providing details about the ICO and some information about the . Terminologies on what an ICO is, what the total supply is, etc. can be found in my previous blog post, which you can find . PowerAgent Token here The token breakdown looks fairly standard, however, there is a big lingering question which I haven’t found an answer for… Why do they have/need a hard cap of $39,000,000? Token Use Any participant who would want to use digital verification, smart contracts, cryptocurrency enterprise services and the arbitrage system, they would need to acquire tokens and use them on the platform. The token will also be a means for payment exchange within the network and will be favoured due to it not having any transaction fees, when used within the platform. POWA POWA In essence, the ( ) provides , including, digital verification, creation of smart contracts, enterprise services, etc. In addition, it will be used as a for participants to transact with . PowerAgent Token POWA access to the platform’s services currency “and will be favored due to it not having any transaction fees” Team & Advisors Unfortunately, there are no details about the team and/or advisors on their website. The only thing I could find, is that seems to be based in London according to their LinkedIn . PowerAgent profile In my opinion, this is a . It would be understandable if the team and/or advisors remained anonymous if they were building a privacy coin but, in this case, is not building a privacy coin and therefore . huge red flag PowerAgent there is no excuse not to disclose their team and advisors Partnerships & Investors I would firstly like to point out that having partnerships or existing investors does not necessarily make or break an ICO. There have been numerous ICOs that have not had any partnerships and/or investors that have produced exceptional results. Being backed by enture apitalists ( ) indicates potential for rapid and profitable growth. V C VC Having that in mind, doesn’t seem to have any partnerships or existing investors. PowerAgent Verdict — Hot or Cold? has identified a gap in the market which could definitely be revolutionized by the introduction of blockchain and cryptocurrencies. However, taking into consideration all points above, in my opinion, has a significant number of red flags to make this a worthy (and safe) investment. PowerAgent PowerAgent I would classify : PowerAgent Cold ICO goes live on the 1st of June— For more information and participation details, follow the link . PowerAgent’s here Drop me a comment or message with ICOs you want to see in next! “Hot or Cold” Make sure you give the post a 👏 👏 and my blog a if you enjoyed this post and want to see more. clap follow You can also show your support by donating to the following address: : 0x4c7195E074cf0Ab6F77Bdb7C97Fd2567066Bb712 ETH . Disclaimer : All information and data on this blog post is for informational purposes only. 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