YourBlock is aiming to be the first Blockchain based comparison and incentive-based personal data storage platform. YourBlock combines the security, privacy, and scalability of private storage with the data integrity, immutability and accountability of the public Ethereum Blockchain.
Consumers will be rewarded with discounted products and services and then rewarded with YBK Tokens for using the platform. YourBlock enables the consumer to interact securely with third parties, take up services, manage paperwork, communicate and record communication.
So without any further ado, let’s delve into a detailed review of YourBlock’s ICO.
Acxiom, probably one of the largest global data brokers, claims to have an average of 1,500 pieces of information on more than 200 million Americans. As organizations increasingly depend on electronic data and computer networks to conduct their daily operations, growing pools of personal and financial information are being transferred and stored online. Individuals are increasingly exposed to privacy violations, and financial institutions and other organizations are exposed to potentially enormous liability, if and when a breach in data security occurs.
UK anti-fraud organization Cifas, states that a total of 89,000 cases were recorded between January to June 2017. That is a 5% rise on the same period last year and a new record high, with identities being stolen at a rate of almost 500 a day. In the U.S., a report released by Javelin Strategy & Research found that $16 billion was stolen from 15.4 million U.S. individuals in 2016. And across Asia-Pacific, a Cybercrime report by 5 APAC found Cybercrime attacks in 2016 have risen by 40%.
Distribution of tokens
|Allocated to Incentivise Participation|
Retained by founders
Allocation of Funds
Fees for token sale
Founders and advisors
Office running costs
Europe and US marketing
Daniel Antcliff, CEO
David Antcliff, CFO
14 members on the team
With each token costing EUR0.5 and a total token supply of 200,000,000 tokens, they will have an implied market cap of EUR100,000,000, which is far too high of a valuation for the project that doesn’t have any paying customers. For that reason, I personally would not invest.
That concludes my YourBlock ICO review. Do you think it’s worth investing? Let me know what you think in the comments below!