Origami Network rated “Stable” by ICORating.
Explanation of the rating
Good news, Origami Network has been rated “Stable” by ICORating : https://icorating.com/ico/origami-network/
Even though this is a great rating, showing that our project is very stable, they raised four risks that can be explained, and we wanted to explain to our community those risks :
1) Risk of unclaimed tokens in the payment system.
It is stated that tokens could be not used as the buyers will prefer fiat payment / sellers prefer fiat payments due to high volatibility of the markets.
But our vision is :
“We are already subject to these with FIAT currencies, as for example, the dollars, euros and russian rubles are also subject to such volatility but it doesn’t really matter as people are used to think in their currency. We think this will also be true with crypto-currencies in a very short time.
Our system is multi-currencies, the seller can chose its base currency, then all others currencies will be dynamically adjusted. This already work with fiat, and crypto-currencies are only other currencies, so it will work the same way.
Cryptocurrency is indeed highly volatiles at the moment, because it is a very young technology. But as the regulation changes (Germany example, France working on it, Russia just made a big announcement), it will be seen as a “real currency” and people will use it as a mean of payment, not just a speculating instrument.
Our duty on post-ico is also to offer a platform where paying in cryptocurrency is a normal way and a very interesting way for customers to do so.
One part of our Marketing budget will be used to “evangelize” the customers in the advantages they will have in using crypto-currencies.”
2) Risk of unrealization of the ChainLink project.
Our vision is :
“In Origami Network, the Oracles are a nice to have feature. We do not totally rely on them because since the launch of Origami Marketplace last year we already work on these use cases without Oracles. As Chainlink is a decentralized way of using Oracles, we will use Chainlink if they deliver a true decentralized Oracle system, but we do not rely on them to deliver our project, indeed we are also ready to use other Oracle systems (for example Oraclize, or building our oracles).”
3) Risk of insufficient Ethereum capacity.
Our vision is :
We are used to work with high loaded systems, and the bottleneck is almost always at Input / Output level. We have developed a data layer to solve this problem.
For read requests, we have a buffer based on a very fast database and API. For write requests, we have an asynchronous system based on queues. So even if the Ethereum chain can have latency, the system will always answer in milliseconds. We have background in trading system in traditional financial market, and we have already built systems which can handle much more transactions.
4) Regulatory risk, since platform tokens will have a payment function.
This is an important point that we are working on since the beginning of our project. It is an issue with a lot of project on the blockchain, and we will work on it with the authorities.
For any questions, just join our telegram : https://ori.network/telegram
Origami network is also rated 4.2 by icobench : https://icobench.com/ico/origami-network