REDi ICO Review
REDi is the acronym for “Renewable Energy Distribution Infra.” The project team plans to build a sustainable “decentralized platform for renewable energy distribution” that is 100% eco-friendly to both energy producers and consumers.
With the use of blockchain, the platform will allow consumers to connect directly with energy producers. Compared to other green energy ICOs, at REDi all members can engage in the production of green energy in their locality. Moreover, members who promote or contribute to REDi’s carbon footprint reduction programs will be recognized and rewarded.
Pablo Cryptobar Rating
• The REDi Team
○ Dong Young Lee — CEO & Co-Founder
He previously founded Smart Energy Island (SEI) and co-founded Funded, a Korean peer-to-peer lending marketplace based in Seoul, South Korea. Mr. Lee has a Master’s degree in Public Policy from the University of California.
○ Chanyoung Kwon — CTO & Co-Founder
He is at present sitting as the CIO of AIZEN Global, an AI solutions firm for the Finance industry. He was formerly the CTO of BlueCloud Inc, an app development company that develops mobile games for children.
○ Rick Yoon — COO & Co-Founder
Prior to REDi, he previously worked at Hyundai Motor Company for 6 years as a Research Engineer. Mr. Yoon holds a Master’s degree in Electrical and Computer Engineering from Seoul National University.
○ Nathan Chang — Chief Business Development Officer
○ Jay An — Global Alliance Director
○ Juni Lee — Strategic Development Director
○ Patrick Choi — Business Development Director
○ James Lee — Marketing Director
○ Ginny Lee — Marketing Manager
○ Rahee Eshtehardi — Marketing Manager
○ Jin Jang — Software Engineer
○ John Seol — System Engineer
○ Xintong Mu — Software Engineer
• The Advisors
○ Louis Jinhwa Kim
He is the author of the first bitcoin book in Korea entitled, Next Money Bitcoin (2013). He is a bitcoin evangelist who co founded the Korea Blockchain Association and Korbit Inc, the first South Korean Bitcoin Exchange.
○ Joe Kim
Presently, he is the Executive Vice President of XNTree Ltd UK. He also previously worked in the management positions for ENTIQ, Tmaxsoft UK, and IBM UK to name a few.
○ Minpyo Hong
He is a cybersecurity expert with 20+ years experience under his belt. He founded SEWORKS (app security), WOWHACKER (Hacking and Security Research Lab), and SHIFTWORKS Co., Ltd. (a cybersecurity company). He is a cybersecurity PhD candidate at Korea University.
○ Hanyeol Cho
Founder and CEO of Bookjam and Interqubit. Previous experience was Engineer at 2 computer firms. He has a Bachelor in Computer Science and Engineering degree from Seoul National University.
○ Sangseop Lee
He was an E-Commerce for 16 years but at this time prefers to concentrate on the Smart Energy Service for Big Data, AI and Blockchain Technologies. He is on the advisory board of Lition, a renewable energy supplier based in Germany.
○ Jonghun Sung
He is a certified public accountant who is a Managing Director at Vestigium Alliance, a firm with expertise in Legal, Accounting, and Tech as applied to Blockchain.
○ Junghan Yoo
He is a member of Law and Practice Association in South Korea and the Korean Securities Law Association. He attended the Law Schools of New York University and Seoul National University.
○ Bao Tran
He is a specialist in building Intellectual Property (IP) for his clients. He is the founder of PowerPatent Inc.
Here are other plans:
○ 2018 Sep — Main Sale
○ 2018 Q4 — REDi Wallet launch
○ 2019 Q2 — Public chain integration to REDi Smart Metering
○ 2019 Q4 — Official launch of REDi platform services
○ 2020–2nd ICO (this is a tentative plan)
They have good set of partners on their side.
• The Investors
As of this writing, there is/are no Investor/s published on the site.
• Token Information
Hardcap: 30K ETH on the website but they mentioned 35k ETH in the Whitepaper they provided
Softcap: 10K ETH
Token Allocation: no information
○ Seed, Private Sale, Pre Sale, Main Sale: 30%
○ Team, Advisors: 20%
○ Reserve Funds: 20%
○ Business Development Alliance: 10%
○ Point Pool: 20%
Token distribution date: no information
Note that there are many information missing in their token metrics such as Vesting, Bonuses, Lockup period, and what happens to unvested tokens. Further, they mentioned that they will have a rewards program for members but as of now, they haven’t yet presented their Rewards Program formula.
• Web Links
To summarize, I give REDi an overall rating of 3 out of 5 points because of the following:
» I give a rating of 5 out of 5 points for the team. Their experience is impressive in that they previously worked for well-known brands such as SAP, Naver Corp, and Daewoo to mention a few or founders of their own startups.
» Based on the backgrounds of the Advisors, my rating is 4 out of 5 their experiences are strong some being founders themselves plus they are of varied backgrounds.
» I give 3 out of 5 points for the Roadmap.
» My rating for Partners is 3/5 points. The project team has a set of known brands to do business with them.
» I will not rate Investors of course because there are none.
» Finally, I rate REDi’s Token Metrics with 2 points out of 5 for its lack of certain important information.
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Note: All images are courtesy of REDi.