Media Protocol Review — Part 3: Token Economy, Pros and Cons, and Final Thoughts
Not much is currently known about the MEDIA Protocol initial coin offering, or their token economy. They announced that there would be an ICO in the first quarter of 2018, however we are currently entering the second third of Q2 and no ICO has been officially announced.
The same announcement noted a full sale of tokens in the second quarter of 2018. The MEDIA Protocol website, publications, and limited social media presence has not yet provided any clear cut information regarding KYC measures, pricing, or sale dates.
What is known, however, is that the token will be developed on the Ethereum blockchain, and thus will be ERC-20 compliant. It is also noted that, on the MEDIA Protocol’s own blockchain, addressed will have the opportunity to be saved within the platform itself for fast and simple transfers of tokens.
Pros and Cons of MEDIA Protocol
MEDIA Protocol’s cons include:
- A lack of a solid and clear roadmap for the future
- Little real information regarding initial coin offering timetables
- A lot of competition from similar projects in the blockchain sector
While MEDIA Protocol has a lot of great things going for them, they also have some shortcomings. They’ve already fallen short on their timeframes for initial coin offerings and full coin sales.
MEDIA Protocol’s pros include:
- A wonderful array of highly professional and experienced personnel
- A stellar team of high-profile advisors
- A clear structure for progress
- A working product already with CryptoCatnip
- Strong presence at industry events
- A well written and explanatory whitepaper
MEDIA Protocol very much seem to have things figured out, a clear approach to their solution, and a well thought out structure for how things will be done. It’s easy to see what role blockchain plays into their proposed business platform, and their integration with many of the higher-ups in Codec.ai provides strong potential for artificial intelligence integration into their platforms.
Final Thoughts on MEDIA Protocol
The system for the MEDIA Protocol team has a very innovative concept, however they are currently in competition with several other blockchain centric projects focused in the media industry. Additionally, they have not provided clear information regarding their upcoming initial coin offering. This being the case, their roadmap might be falling to the wayside.
However, with CEOs of industry giants like Quantstamp and Gifto as advisors, Media Protocol is set up for great guidance and networking possibilites. The MEDIA Protocol team itself is incredibly well-written and highly accomplished. Their utilization will be key to ensuring that the success of the platform is apparent. As with all blockchain based startup projects as well, the overall success is dependent on the willingness of their users to interact with and embrace their internal cryptocurrency system.