Hello everyone!
Exciting times we live in, there is so much going on in the crypto space it's tough to keep up. Everyday there are new ICO's launching and announcements it's impossible to keep track on all of them. While some turn out to be successful most of them will probably become obsolete in the years to come. I want to share information about what I believe to be a very interesting project and ICO.
Red Pulse Token is the first ICO on the NEO blockchain. NEO is one of the most promising coins out there being on the top 8 current crypto currencies in market cap value. I intend to keep a close eye on their development and other projects who intend to build their projects on the NEO blockchain. Therefore I decided to look into RPT (Red Pulse Token) and give a an analysis based on my research and their white paper.
This is my first post about ICO's on the blockchain. I intend to look closer into ICO's and therefore do a broad research. While researching ICO's I always write down my standaard points that i want answered before investing any amount of money. I want to share my research and the information I found on the white paper for you. I hope you can learn from it and help you out deciding for yourselves is this is interesting or not.
1. What to expect from this overview?
- What does the project actually do?
- Motivation of the project.
- Why on the blockchain / cryptocurrency?
- Why their own token?
- The purpose of the RPT
- Token Mechanism
- How far is the project?
- Risks
- Roadmap
- The team behind it.
Let me start with the disclaimer. I am in no way affiliated to RPT (Red Pulse Token) in any way. I strongly believe in sharing information and want to do my part in the Crypto Community and Steem. Enjoy!
1) What does the project actually do?
Red Pulse is a market intelligence platform covering China’s economy and capital markets. By creating a global community around a common interest, incentivizing participants to produce truly relevant research, and providing technology-enabled analysis tools, Red Pulse seeks to solve the problem that all of us face today: Information Overload.
The solution to the Information overload
First, research consumers will have the opportunity to create research “prompts,” indicating their interest in new or relatively thinly-covered topics, by paying an adjustable amount of RPX. The greater the contributions, the higher the indicated demand. Consumers may also trigger special rights such as exclusivity for adjustable periods of time, by paying above a minimum threshold, if they are the originator of the prompt.
Second, Red Pulse employs machine learning technology to highlight new market events that may be of significance to both research consumers and producers, while making topical recommendations to both agents, based on past individual user behavior. This helps to prioritize certain topics on an individual user-level basis that have a higher likelihood of relevance. This v1.07 4 Cloud Event data feed will be offered to both research producers and consumers as a starting point for potential coverage and analysis.
2) Motivation of the project.
China’s economy is already the 2nd largest in the world in terms of nominal GDP, and 1st in terms of purchasing power parity. However, as a market for investment and industry participation, it remains incredibly difficult to understand. This disconnect presents a huge opportunity to platforms and services that can bridge this informational gap. The problem is made all the more challenging to solve by several critical circumstances.
A) Research Content Ecosystem is Broken
B) Information Accuracy and Transparency
C) Information Overload
Solution:
Red Pulse solves these issues by creating a groundbreaking research content platform that simplifies incentives and directly compensates research producers for their valuable insights, while ensuring research consumers can access the research that is most relevant to them. Independent analysts and market commentators can now contribute their ideas and insights on an ad-hoc basis, and be compensated accordingly. Our RPX coin is the underlying currency used to facilitate this ecosystem, and provides token holders with direct participation in the rise of China’s economy.
3) Why on the blockchain / cryptocurrency?
A) Reducing Frictional Costs: Traditional methods of transferring capital using fiat currency such as USD and RMB, incur
relatively high transactional costs.
B) Creating a System of Record:
The blockchain ledger inherent to cryptocurrencies is a publicly-verifiable record that can be used to confirm that content producers on our system have been fairly compensated for their works. Research consumers will also have confidence that crypto-payments have gone towards research content that they selected, with a dependable system-of-record always available as an accounting of their usage.
C) Solving the “Cold Start” Problem:
cryptocurrency is used to immediately compensate research contributors, thereby seeding the platform with enough valuable content that would attract a critical mass of research consumers. With more consumers, the platform gains in popularity, thereby increasing the exposure to research producers, and their corresponding compensation.
4) Why their own token?
RPT wants to build their own community and solve payment and scaling issues. Finally managing the monetary supply and driving the content ecosystem.
5) The purpose of the RPT
Attract research producers by compensating their effort with RPX tokens. The more views, shares and attention the more RPX.
Attract research consumers that benefit from using the research articles and holding RPX.
Attract other stakeholders like RPX holders.
6) Token Mechanism
RPX will be launched via an Initial Coin Offering (ICO) crowdsale with nominal value of USD 15,000,000. Once this is reached, inclusive of pre-ICO commitments, the sale is completed. This represents 40% of the total RPX created during the ICO.
Inflation & Proof-of-Stake
Each year RPX total coins will grow by 10%. 50% will go to the holders and the 50% will be used as a payment system for users on the platform.The total circulation of RPX will undergo a 2-to-1 reverse split, at a planned interval of once per 10 years. This is to normalize the ongoing token creation at a rate of 10% per year, as above, so as to keep the token exchange rate within an acceptable range. Total value held by RPX holders will remain constant after the split, much the same as for reverse stock splits on equity markets.
Specific details will be released at https://coin.red-pulse.com
Early Commitment Period Bonus
1st day 30%
Days 2 - 3 20%
Days 4 - 7 10%
Days 8 - 14 No bonus
RPX tokens from the ICO will be distributed as follows:
• 40% Crowdsale with funds allocated to the company
• 40% Reserve tokens held by company
• 15% Company shareholders (excluding employees)
• 5% Company employees
Employee allocation of RPX will have a vesting period of 12 months, 25% vesting each quarter, with a 6 month cliff. Allocation will be proportional to the tenure of each employee by the date of ICO.
The company’s projected use of funds:
• 40% R&D and platform development: blockchain developers, machine learning & NLP experts, web and software developers
• 20% Research and editorial staff
• 20% Marketing & sales staff, travel expenses
• 10% Operational expenses: admin / HR / other staff, rent, utilities
• 10% Legal and accounting expenses
7) How far is the project?
They already have a platform https://www.red-pulse.com/landing and an iOS mobile app.
8) Risks
RPX is not intended to be an investment vehicle. RPX is the underlying cryptocurrency that drives the Red Pulse open research platform, and purchasing the token is a vote of confidence in the success of our platform, as well as a means of early support.
Project Risk: As with any project, the development and execution of our platform carries with it the risk of delay and even failure.
Cryptocurrency Risk: By nature, cryptocurrencies are highly volatile when compared to other assets such as stocks, bonds, and even alternative investments such as property.
Regulatory Risk: In the interim, we will not be accepting U.S. citizens as part of our RPX crowdsale, to ensure we are operating within current regulatory policies.
9) Roadmap
3Q17
• Selected for Accenture Fintech Innovation Lab Asia-Pacific [20]
• RPX token whitepaper release
• RPX token sale and distribution
4Q17
• Begin development of Python / Django platform to replace existing platform
• Continue improving upon machine learning-based data classification and transformation process
• Create research report standard templates + publishing toolkit
• Develop and launch Android version of mobile app
• Create working group of in-house blockchain developers and
NEO community developers
• Hire key staff:
– Blockchain / crypto developers
– Python / Django web developers
– Data scientists and Chinese NLP specialists
– Front-end developers
– Mobile app developer
– DevOps
– Research and editorial staff
– Sales and marketing staf
The rest of the roadmap continues till 2025. You can find it on the white paper. Check it out on https://coin.red-pulse.com/wp-content/uploads/redpulse-whitepaper-en.pdf
10) The team behind the project
Founder, CEO Jonathan Ha, CFA:
Jonathan Ha has 12 years experience in consulting and financial services, Computer Engineering, economics, business education he has worked for five years in Z-Ben which are advisors in a Shanghai-based consulting firm that helps global financial institutions capitalize on the fast-growing business opportunities presented by the Chinese and Greater China markets. It seems to me he has allot of experience in the chinees market and understands it.
Co-founder, Head of Data Science Stanley Chao, CFA, CAIA:
11 years experience in investment management and financial services. Quant background with applied math and computer science education.
Peter Alexander Co-founder, Non-executive Chairman
Has 20+ years experience in China financial markets and research.
What i'm missing in the team is a real Crypto currency developer. It seems they have some blockchain advisors but still no developers. It states on their roadmap they will hire one after the ICO. But overal the team looks legit and the companies they worked at. You can look them up on Linked in they are all very active.
Conclusion:
I will keep a close eye on this ICO. The chinees market is huge and they are taking some serious steps into accepting blockchain. When or If this happens China's blockchain companies will skyrocket. Furthermore I believe this projects resembles Steemit by the way they want to share information and promote it. The team behind this project seems legit and capable. I also love the fact it will be built on the NEO blockchain and that it will be Proof of Stake. The team set out a roadmap indicating their goals until 2025. This team has vision and ambition. Keep a close eye on this project guys.
The RPX crowdsale is scheduled to start on September 10, 2017
Hope you liked my post, please comment, steemit and let me know if I should do more of these.
Disclaimer: I am not a technical analytic or financial advisor. Invest only what you can afford to lose.