Shopin ICO Review: Shopping Made Personal and Easier!

Shopin claims to be building a decentralized Amazon on the blockchain with a universal shopping profile and cryptocurrency for retail and e-commerce.

So without any further ado, let’s delve into a detailed review of Shopin’s ICO.

The Shopin Token, which will be used to incentivize retailers and shoppers, will serve as the medium of exchange for accessing data from the shopper in a variety of ways.

Amongst the ways the retailer will use the token to entice the shopper:

  • share their data, so that the retailer can better service the shoppers’ needs through recommendations and marketing
  • loyalty
  • referrals
  • push advertising
  • pull advertising
  • Gifting

By leveraging the power of the blockchain, Shopin will securely manage your personal data, including online shopping data, personal ID and payment information, and user credit reputation whilst delivering an Amazon-like experience and product recommendation for shoppers on every site they go to.

Shopin effectively solves traditional, multi-retailer reward schemes by pooling multiple rewards from multiple retailers into a single, universal reward system.

Market Opportunity

Right now, the data market is the most robust market on the earth. Nearly every company and government monitor digital footprints — websites visited, items purchased, emails sent. One dominant property of a decentralized and cryptographically secured ledger is the accessibility to, and ultimately the protection of, consumer data from malicious or exploitive characters.

Crowd Sale

Distribution of tokens

33%

33

24.42

3

5.28

1

Crowd Sale

Partner Incentives

Founders

Employees

Seed Investors

Ethereum Dev Community

Allocation of Funds

 

15%

50

5

30

 

Development

Software engineering

Legal

Marketing expenses

Team

Eran Eyal, CEO

Divakar Rayapaty, CTO

Doron Wesly, CMO

Jeremy Harkness, Blockchain Expert

4 other members of the team

Notable Advisors

David Drake

Jeff Pulver

8 other advisors

Opinion

Shopin is playing along with a macro trend – bringing control of data back to the end user. This is a theme that is common amongst many blockchain projects at the moment. But what makes Shopin unique is that they are approaching the e-commerce sector, which makes a lot of sense when you compare the amount of data that retailers like Amazon gather about users.

In their slide deck, they even mention “Think of it as a decentralized Amazon.” They expect a 266% increase in the revenue for 2018 and they already have 2 pilot programmes with the retailers Bed Bath and Beyond and Ermenegildo Zegna. The future outlook for Shopin is positive and with proven network effects at play for both customers and retailers, we could see exponential adoption if the capital raised from the ICO is deployed effectively.

Links

Site

ANN (20 January 2018)

Telegram

Twitter

Facebook

Whitepaper

That sums up my Shopin ICO review. Do you think it’s worth investing? Let me know what you think in the comment section!

Feature image by Mohamed Hassan

Shopin ICO Rating: 3.5 - Review by

3 Responses

  1. From what you’re saying, this could be an interesting investment opportunity. Seeing as David Drake and Jeff Pulver are advisors gives me confidence this will turn out very well. The idea of a decentralized Amazon is also quite enticing to me so I would (probably will) invest in the Shopin ICO.

  2. I don’t like that they are distributing just 3% of tokens to the employees. Surely they could have offered at least 10% if not more. It’s clear that services like Shopin will be asked for in the near future as there are already many voices asking for more privacy and Amazon is just one of the sites that doesn’t provide it.

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