ICO ON SPOTLIGHT: ECOMI

James Saurdino
Sep 6, 2018 · 6 min read

There are many issues that deter the adoption of cryptocurrencies by the masses: 1) Wallet security, 2) Insecure and not user friendly cryptoexchanges, and 3) Conversion of crypto to fiat.

Wallet security. Current blockchain’s distributed ledgers are setup such that public and private keys are required to do something. However, if you are not careful enough, it can be easy to lose your assets if your private keys are not protected.

Insecure and not user friendly cryptoexchanges. Many cryptoexchanges do not have enough security which makes it easier for hackers to steal assets. Also, some are complicated to navigate which is off putting for some.

Conversion of crypto to fiat. Right now, conversion of crypto to fiat and vice versa is still a big hassle.

Products Planned For Release
ECOMI offers 5 solutions which target the mass adoption of cryptocurrencies:

The Secure Wallet is a physical credit card sized device which will be used to secure digital assets is their headline product. This wallet is intended to pair with a smartphone with an ECOMI App instead of directly connecting to the Internet.

ECOMI One is a global payment card.

The ECOMI App will allow the community to access ECOMI’s services.

The ECOMI Vault will protect digital data such as music, literature, credit card data, and more.

ECOMI Collect will allow community members to do transactions in relation to licensed digital collectibles in the digital marketplace and “bring them to life in Augmented Reality.” Other features of this product are Social Sharing to allow members to share their digital showroom and gamification to challenge community members to play ECOMI Collect games.

Project Team

Out of the total 17 members, 5 are in the executive role.

David Yu
The ECOMI CEO is a serial entrepreneur who has 20+ years experience in the licensing and retail industry who is also known for popularizing collectibles from franchises such as Star Wars and familiar characters from comic hero strips.

Daniel Crothers
The co-founder and COO of ECOMI is also known for co-founding 3 other companies: a) ABC Stars, a Beijing-based company that “provides international learning experience to Chinese children”; b) Digitalus, a web agency; and c) HERB, a web magazine dedicated to cannabis.

Mikel Duffy
ECOMI’s CTO held various roles at the International Technological University in San Jose California. His technical work experience is as a Software Engineer and Tech Lead of KPMG’s Blockchain Advisory Department. KPMG is one of the Big Four auditing firms worldwide.

Joseph Janik
Joseph is the CIO of ECOMI. He is the co-founder of Bentley Babies a collaboration with Bentley Motors Limited in designing top of the line baby strollers and trikes for babies. He is a shareholder of the one stop webshop for Warhammer memorabilia, 1850Points.

Alfred Kahn
Alfred is a recent addition to ECOMI as the Head of Global Licensing. With 30 years of experience at his hand, he is well-known in the collectibles distribution and promotion circles. Well-known brands he promoted are: Pokemon, Teenage Mutant Ninja Turtles, Zelda, James Bond to name a few.

Project Advisors

The project is backed by strong set of advisors lending their experience and expertise to ECOMI in the following: strategic planning, product development, marketing and investments, hardware wallet, blockchain, game technology, VR/AR, mobile gaming, international brand partnerships, crypto exchange, intellectual property strategy, scaling international start-up ventures, circuitry and biometrics, and capital raising.

Project Partners

ECOMI has partnered with well-known businesses active in the gaming, AR/VR, collectables, as well as the licensing industry.

Roadmap

Important milestones for 2018

• 2018 Q2 — Secure wallet app beta
• 2018 Q3 — Secure wallet app & hardware — goes live
• 2018 Q4 — ECOMI vault beta
• 2018 Q4 — ECOMI one beta
• 2019 Q1 — ECOMI collect 1.0
• 2019 Q3 — ECOMI collect 2.0
• 2019 Q3 — ECOMI vault 1.0

Tokenmetrics

• Token Total Supply: 1,000,000,000
• Tokens available for sale: 500,000,000
• Tokens for crowdsale: 365,500,000
• Ticker: OMI
• Hard cap: US$22,125,000
• Token Price: $0.05 USD Per OMI

• Token Structure Allocation %:
→ 50% : Crowdsale
→ 28% : Long term initiatives — community development, attracting partners
→ 18% : Founders, Investors, Board
→ 2% : Advisors
→ 2% : Bounty

• Funding Distribution Percentage %:
65% : Product Development
15% : Operational Expenses
15% : Marketing and Business
5% : Legal Expenses

• Vesting (this is the only information given)
→ Operations & Marketing: Total release is 16.7 years (35 billion).
→ User Incentives: Total release is 16.7 years (15 billion).

• Presale:
→ Allocation is 137,500,000 OMI, April 2018
→ Discount is 40%

• Crowdsale:
→ Allocation is 362,500,000 OMI, June 2018
→ Discount is 30%

• Lockup:
According to whitepaper: Presale 1 and 2: Locked at 30/60/90 days.

• Vesting:
→ Founders, Investors, Board Members
24-month vesting schedule distributed in 3 equal parts.

→ Bounty: the vesting schedule is 12 months divided into 2 schedules.

→ Advisors: 12-month vesting period distributed in 3 equal parts for vesting.

• Bonus:
As stated in the Whitepaper, those who purchase 10K OMI during the crowdsale may receive a freeSecure Wallet sales bonus, subject to verification and other terms and conditions not specified.

Note: Token distribution will take place 7 days after the crowdsale.

For more information visit ECOMIS Weblinks:
Website, Whitepaper, Twitter, Telegram.

Cryptosaur Overall Rating

The vision is great but it is also very ambitious undertaking that has a potential to go mainstream. The team and advisory are strong and come from mixed tech and business backgrounds.

I give them high praise for their proposed innovation to the digital wallet and because they have a huge stake at Secure Wallet’s manufacturing. One product will go live Q3 2018 and other products will go live next year. Finally their tokenomics look good and informative.

This rating is based on the strength of the following metrics:
— Use case
— Team/Advisors
— Hardcap + % sold (unpublished)
— Roadmap (unpublished)
— Network
— ICO stage (undisclosed)

The team will update this review as new developments occur. Follow me on Twitter and don’t miss an update! I publish ICO and market reviews daily!

James Saurdino

Written by

Purveyor of #Cryptonews. #TA #ICO and #Cryptoreviews. Beware: Low Bullshit Tolerant Zone.

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