A CryptoStandard Score of 5.7 and a Negative+ outlook are assigned to WinFlow (ICO starts on 27 March 2018)
WinFlow endeavors to inject new ideas to the betting industry by rewarding users based on betting activities and focus on live betting instead of just pre-match betting. While the lack of a prototype prevents our team from verifying the functionality, the legal regulations in major countries will likely limit the deployment and expansion of WinFlow in these countries. Hence, a Negative+ is assigned to WinFlow unless major progress has been made and demonstrated by WinFlow in communicating and negotiating with governments for its launch to be legal.
WinFlow is an online sports betting platform aiming to provide a semi-autonomous, trustless, and transparent sports betting environment powered by the Ethereum blockchain.
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
The use of a blockchain can result in a higher degree of security and transparency for customers, while lowering the operation cost with a decentralized system. However, the claim of WinFlow being a “not-for-profit" platform is arguably misleading as what it only means is the platform does not bet against the users, instead of not having profit generation as the main objective.
Competitiveness
There are indeed a number of players in the industry, including BetWay and Bet365. However, WinFlow tries to position itself as a non-profit-making platform and aims at maximising the rewards to betters. This may be helpful in generating positive word-of-mouth for WinFlow, but only to the extent that it can live up to the promise. Yet, the reason for the currently low crowdedness is the uncertain government regulations. If licensing becomes a real possibility, our team expect that the level of crowdedness will increase given untapped market potential.
ICO
Some ICO details are missing in the white paper or the website of the company, such as the soft cap and whether tokens would be listed on major exchanges.
Team
The team and advisors have a good mix of serious business and start-up experiences. Notably, one of the advisors is the founder of Cubeform, the existing partner of WinFlow. However, the team lacks blockchain or ICO experiences and some team members and all advisors have not shown their connections with the company on LinkedIn.
Community
The reaction from the community to WinFlow is poor. The number of Telegram group members and followers on Facebook and Twitter is very limited. There are also no discussions related to WinFlow on major discussion hubs, such as BitcoinTalk and Reddit. The hype for WinFlow is lamentably absent in the blockchain community.
Marketing
WinFlow has not taken the initiative to start discussions on BitcoinTalk, Reddit and Steemit, and is lacking in exposure on quality media press.
Documentation
Our team appreciates the largely sufficient information on each product and service WinFlow plans to offer as well as the implementation details along the roadmap. However, the white paper and website are only available in English, which will restrict its reach in the global market.
Financials
No past or projected financials are available on the white paper or website.
Reliability
The reliability of WinFlow is less than desirable as there is no available functioning prototype (only a simple mock-up and demo are available on its website). This worsens our concern about WinFlow’s ability in delivering a platform that can only differentiate itself through the functions.
Feasibility
The project’s feasibility is greatly in question mainly due to the lack of a prototype to capture a user base early, the mediocre community engagement efforts and the major legal uncertainties. The not-for-profit claim may backfire and be viewed as deceptive given betting is a profit-oriented business. The success will partly depend on the regulatory changes and its license application progress in Europe.
See their profile: https://cryptostandard.io/ico/winflow/
@WinFlow
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