Uncloak ICO review — Investment Analysis
Here's the Uncloak ICO review everyone has been waiting for! Last week when Tayo Dada, Uncloak’s Ceo, spoke in an event as a part of the crypto world tour of world-renowned crypto Investor Ian Balina, it had potential investors’ eyeballs popping at Uncloak’s ICO, right after. While it is still unclear whether Balina himself is going to participate in Uncloak’s ICO, many Crypto Pundits along with the ICO predicting magical octopus are considering Uncloak as the hottest upcoming ICO right now. True that from Balina’s stage, Uncloak CEO, Tayo Dada managed to get great attention for their upcoming ICO still the question remains whether it’s actually worth the Hype?
To understand how all this is going to translate for investors here’s our uncloaking of Uncloak where we are going to present a clear picture so that you’re better prepared to decide it for yourself.
Uncloak is a Cyber Security Management Solution
Businesses are becoming more and more dependent on internet and shifting most of their business online. This means their dependency and reliability on storage and transfer of important and sensitive data is increasing. With all this development cyber attacks and hacking has also emerged as a big threat to sustenance and growth of such businesses. Uncloak eyes this growing demand for cybersecurity solutions as a big market. To cater to this market they are developing a cybersecurity management solution which protects businesses from data theft and hackers. While they claim they are one of its kind, it may not be true, however, there is no denying the fact that there is a greater need for some effective Cyber Security management solutions. Moreover, as the blockchain technology is inching towards becoming mainstream and as dependency on online solutions is increasing there is already a big market for effective cybersecurity solutions. Uncloak envisions itself as a future market leader in cyber security solutions and what they are coming up with is is their own threat detection database using the latest technologies based on Artificial Intelligence. This system will be alerting the end users about any cybersecurity threat in real time to help businesses eliminate such threats. “If an end user client can understand their security risk position in real-time, they can place themselves in a strong position to eliminate cyber threats before they occur”- Lena Bhogatia (Operations Lead, Uncloak).
Uncloak's Promising Features
Uncloak offers some promising features like automated bug bounty, AI threat detection engine, and a Vulnerability Scanner. The vulnerability scanner will scan the vulnerabilities to any potential cybersecurity threats. The bug bounty feature includes rewarding those who detect any valid cybersecurity threat or other vulnerabilities. This involves a defined process of validating the threats facilitated by a voting mechanism. For this Uncloak will be creating a community of “ethical hacker” who can assume roles of a bug hunter and a validator and they will be rewarded with UCC tokens (Uncloak has two tokens and the details are discussed later).
They will also have an exclusive AI threat detection engine which the Uncloak team has developed with Krzana, an Artificial Intelligence software development firm. They claim it to be “a private cloud-based real-time cyber threat search engine powered by artificial intelligence, taking vast amounts of unstructured text data and turning it into structured and legible actionable data used for reporting to clients about the current cyber threat landscape.”
Real Life Application/Use Cases and Revenue streams
The use case of any application or idea is extremely important as it largely defines its chances to succeed. So it’s important to understand to whom will Uncloak Cater to and how? You can think of Uncloak as an antivirus protection software with a difference that it makes use of the Blockchain technology, is more advanced, and also has a range of features enabling it to cater to the needs of business organizations or varied sizes. They have a very well defined marketing strategy and targets. Targeting small companies with under 250 employees that would be willing to have a cybersecurity threat check, Uncloak, will provide them with such cybersecurity threat checks and will also perform a vulnerability check of all their workstations, servers, and network hardware. Focussing on businesses with over 250 employees, Uncloak, will help them with their requirements related to IT governance which is becoming extremely important for big businesses nowadays. As Uncloak has particular services to offer they have based their revenue streams on a subscription model. The client companies will have subscription packages and will pay a time-bound subscription fee for Uncloak’s services and for accessing their platform. The Business model is fairly sustainable with around 4 defined subscription based products.
Uncloak's used tokens: UNC and UCC Tokens
Uncloak will make use of two tokens for their platform. The first one is UNC token which is developed on Ethereum’s Blockchain and UCC token developed on EOS network. The UNC tokens will be exchangeable and transferable and can be traded on popular crypto exchanges while the UCC token will have restricted internal use for rewarding hunters and validators for finding and evaluating vulnerabilities. Therefore if you’re looking to invest in Uncloak ICO you will most likely be looking for the exchangeable and tradable UNC tokens.
Uncloak token sale
Uncloak has announced their pre-sale and it will last for a month starting May 25th. With a total token supply of 4,200, 000,000 UNC and with 1UNC at $0.01USD, the hard cap is fixed at 21,000,000 USD and a soft cap will be reached at 6,000,000 USD. There are a minimum and maximum investment limit of $100 and $100,000. The presale Bonus is up to 30% and a crowdsale or main ICO bonus is a fixed 10%. Only 50% of the tokens are made available for sale and from the funds procured 15% each will be allocated for Early Backers, Equity Investors & Advisors and the founding team and 10% each will be retained for Bug Bounty and developer fund.
Team Overview
Uncloak, is based out of Estonia with a strong team of experienced players who have earned recognition in Blockchain Technology applications and in their respective fields. CEO, Tayo Dada, has over 30 years of experience working in IT from software development to IT management. He also manages an award-winning InfoSec team of experts in IT security and Cyber Threat management. Their co-founder Nicholas Topham has been at the forefront of the TMT sector for 30 years, operating as a CEO, COO, partner-level consultant, and Investor. With 15 members, Uncloak has a fairly specialized and diversified team. The advisory board has some very experienced names from diverse backgrounds.
The verdict
Though Uncloak is not as unique as they claim because there are other blockchain projects working on cybersecurity management solutions. But then Uniqueness is not the only determining factor defining the success of an ICO or any business for that matter. Here it is important to note that how effectively Uncloak’s platform caters to the requirements of the businesses they claim to serve. The infusion of AI in developing a technology to track cybersecurity threats and vulnerabilities definitely gives Uncloak an edge over existing solutions. Not to mention that this ICO has hit the charts while they are yet to start with their presale. The strong and experienced team, refined revenue streams, and a convincing and scalable solution not only makes it a credible venture but something that has a potential to grow as a market leader in the segment. In addition to all that Uncloak is already popular and is very likely that some big investors will be itching their palms in the presale. The minimum investment to get the UNC token is $100 and that makes it obvious that it will attract many small to medium investors. The ICO, no doubt will be a rush.
