A CryptoStandard Score of 3.9 and a Risky+ outlook are assigned to Drivero (ICO started on 10 Apr 2018)
Drivero tries to compete with car hire companies like Zipcar and car sharing services like Uber. However, not only does it lack clear competitive advantages, it is also unclear how the blockchain technology adds value to the business model. The team’s information is unavailable online, which further undermines the credibility of the project. They have also failed to address the legal concern, for example, insurance policies in different countries. All these have led us to assign a Risky+ outlook to Drivero.
Drivero is a car sharing platform that allows car owners to rent out their cars to other users.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
Drivero helps utilize the car resources available in the society by allowing people to rent out their idle cars. Yet, it is unclear whether the blockchain technology is essential in the platform. Besides data protection, the application of a blockchain in the business model is not detailed at all.
Competitiveness
The competitors of Drivero include Uber and Zipcar, as well as a number of similar companies like Moovby and SnappCar. However, Drivero cannot deliver a strong competitive edge over any of them, except for the mere basics.
ICO
The white paper provides some of the information regarding the ICO. Unsold tokens would be destroyed. Yet, it is uncertain whether there are lock-up periods and future offerings, and the use of proceeds is missing.
Team
The team members are mainly university graduates with limited business experience. Without any advisor, we are highly doubtful of the team’s ability to execute the idea.
Community
The community engagement is very limited, as evidenced by the tiny number of followers on Telegram, Facebook and Twitter.
Marketing
Drivero’s marketing effort leaves a lot to be desired. It's website looks unfinished and unpolished, and it lacks presence on blockchain-centric social networks.
Documentation
The white paper covers only the basic details of the ICO. It has not substantiated its advantages, nor has it addressed the potential risks, especially in the legal aspect.
Financials
Drivero does not provide any financials of the company for analysis.
Reliability
At the time of review, there is just a white paper without a detailed explanation of the business model. Without any prototype, the reliability of the project is in doubt.
Feasibility
On top of the team’s apparent lack of experience, the low level of details demonstrated by the white paper and the website regarding the business model also raises a red flag. Without proper planning and mitigation strategies, our team considers it unlikely for Drivero to appeal to potential investors and end users (both car leasers and car lesees).
See their profile: https://cryptostandard.io/ico/Drivero/
@Drivero
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