For today's article I will be writing on Cardstack SWOT Analysis to be able to determine the project's strengths, weaknesses, opportunities, and threats. I will be grouping it into Strengths and weaknesses which are the internal factors that relates to the project and the second grouping is opportunities and threats which are the external factors that relates to the project. Let's start off.
Cardstack Strengths
App Re-Usability: Cardstack provides developers with comprehensive SDK which will enable them to build a powerful dapp and services, these apps and services can be stack together to form one card which can be re-used in other projects and it can be integrate across multiple blockchains and cloud services.
Tally Protocol : This will allow larger application to perform complex computations off-chain while less of the work is completed on the on-chain, this solves stability issues been encountered when process a larger number of transaction on the on-chain.
App Monetization: Cardstack ecosystem will allow developers and app owner to monetize the application they have built with Cardstack framework. This means that a developer can build a service and allow other Cardstack community users to use the same service to build their own application, instead of building the same thing from scratch.
One Token For All Service: Cardstack token CARD will be use to access all the multiple dApps and cloud apps in the Cardstack ecosystem.
Cardstack Weaknesses
Hard For Beginners: Cardstack framework consist of SDK and libraries which will enable developers to build an application but for non-developers it is not easy for them to start building an application without learning programming and the SDK, There should be a consideration for non-developers to be able to build application which will make the community to grow faster and more rapidly.
No Visible Road Map On The Website: I spent quite a lot of time going through the website and the white paper to see the road map the project will follow but I found none, and I think road map is very important when you are looking to raise funds from the public. Road map keeps the investors updated on what have been achieved and what's still to come and when it is coming. The investors doesn't know what is going on in the background, the road map keeps them inform and they will judge the team performance based on the road map to know if they are actually meeting up with their set targets.
Cardstack Opportunities
Growing Interest In Blockchain Technology: On daily basis many organization seek ways to adopt blockchain technology and they are steadily in search of the use case of blockchain in their various organization. Cardstack provides the Opportunities for anyone or organization to start off with building something which the organization can use or they can make available for public use.
Great Opportunity For Developers: Cardstack presents a great opportunity for app builders to start building application, they don't need to wait to build something huge or something they can use, they can start building something for other people in the community to use and they will be paid for it. This opportunity will make more developers to use Cardstack
Cardstack Threat
Competition: This is one of the biggest threat to this project because there are a lot of copycats when it comes to blockchain projects, they copy other people idea and add more features to it and package it as if it was their own idea, currently there is no way to get patent right when it comes to blockchain projects, maybe because the technology is still in its early stage of development.
Users Choice: There is no guaranty or whatsoever that developers will actually dump the existing platform they were using to adopt this new platform unless the project offers a better incentive to the early developers that would choose the framework to build an app.
Conclusion
SWOT analysis as we all know is a way to know if a new business or project is really going to be profitable and after performing a Business SWOT analysis on Cardstack, you can see for yourself that the strengths of the project outweighed the weakness and the opportunity it presents is more than the threat it faces. Therefore I am rating Cardstack project high and it is going to form part of my investment in their upcoming token sale come 31 May 2018.
To participate in the Cardstack upcoming ICO kindly visit https://medium.com/cardstack/announcing-the-cardstack-token-generation-event-b694fa04c5a6.
Kindly do your own research before getting into any ICO.
Cardstack Official Contact And Channels
Website: https://cardstack.com
Bitcointalk [ANN Thread]: https://bitcointalk.org/index.php?topic=2768237.0
Whitepaper: https://cardstack.com/whitepaper-pdf
Telegram: https://t.me/cardstack
Reddit: https://www.reddit.com/r/Cardstack/
Twitter: https://twitter.com/cardstack
Medium: https://medium.com/cardstack