ICO Analysis: Ocean Protocol
Published on June 20, 2018
By Daniel WonTeamThe Ocean Protocol team brings a lot of experience to the table.
CEO Bruce Pon spent years at top companies like Accenture and Daimler AG as a consultant and project manager before founding his own consulting, data, and blockchain-based companies.
Overall, the team has deep experience in big data, blockchain, AI, and data exchange and has done things like calculate gravity assisted trajectories between Earth and Mars, built a dozen global banks, managed operating budgets over $30 million, and more.
Companies, institutions, and organizations that the team is or has worked with include MIT, Cisco, Oracle, Microsoft, IBM, Google, Ernst & Young, and more.
Pon and other core members founded BigchainDB in 2014. BigchainDB will develop Ocean Protocol and has already created things like ascribe.io, a way for creators to track intellectual property on the blockchain, WhereOnThe.Net, which tracks the spread of creative works, IDPB, the Interplanetary Database or a shared global database, ImageMatch, machine learning-based image recognition, and more. Clearly, it isn’t their first rodeo when it comes to things like blockchain, data, and AI.
DEX Pte. Ltd. is also working on developing Ocean Protocol and was a lead partner for Data City : Data Nation, a partnership amongst Singaporean and British corporations and governments to work on data exchange by providing common regulatory and governance frameworks.
Singapore, which has shown its hostility towards crypto at times, is the lead government partner for Ocean Protocol. Singapore wants to become the hub for data sharing and is working with Ocean Protocol to achieve that goal.
VerdictThough Ocean Protocol has a promising premise and team with lots of relevant experience, lack of a working product and significant partnerships makes investing less desirable.
Risks No working product (-2)
Many other competitors like Enigma, Datum, Dentcoin, Streamr, and more, some of which have working products. (-1)
No other significant advisors or partnerships besides Singaporean government that could boost the spread of Ocean Protocol. (-1)
No hard cap announced for Network Launch Distribution round. (-1)
Growth Potential Data sharing and AI are huge growth industries. (+3)
Team has lots of experience, especially in relevant fields, such as blockchain, data exchange, and AI. (+3)
While competitors may be focusing on specific use cases, such as “data marketplace for advertising data”, Ocean Protocol is more of a platform, and platforms, e.g. Ethereum and NEO, have done well in the past. (+2)
Pre-Launch round had an equitable token distribution with a max contribution of 1250 euros – helps prevent dumping by whales. (+2)
Long vesting periods to prevent dumping. (+1)
DispositionIt might be better to pick up some OCN post-ICO or if and when the project is more proven in terms of a working product and partnerships. Moreover, Network Launch Distribution details have yet to be released, which could have an influence on investment potential as well.
Ocean Protocol receives a
5/10.Proof: https://hacked.com/ico-analysis-ocean-protocol/