GAINS Associates
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GAINS Associates

ICO Review: Quant.network

Overview:

Overledger by Quant Network is focusing on three main goals;

1. Enabling blockchain to blockchain communication.

2. Connecting the worlds existing networks & internet to blockchain.

3. Developing a new blockchain operating system with a protocol and a platform to allow developers to easily create next-generation, multi-chain applications (MAPPS).

Not since the internet itself has a technology shown such promise and elicited such excitement than blockchain technology. The potential of blockchain technology may seem endless however there are limitations standing in the way of mass adoption, with the major one being interoperability amongst blockchains. Up until now each unique blockchain has its own set of advanced protocols for different purposes, but for blockchain to truly become mainstream we need to enable blockchain to blockchain communication, meaning a transaction on the ethereum network needs to be recognized on/by bitcoin. Overledger aims to do just that.

How it works:

  • Overledger is not another blockchain it’s the platform that sits on top of blockchains providing a meta-gateway.
  • Overledger is the platform on which multi-chain decentralized applications will run. Quant Network will provide the means for developers to create applications to interact across blockchains using a Software Development Kit (SDK)
  • Overledger is an agnostic platform (able to run on any operating system) that connects the world’s networks to blockchains ensuring users aren’t limited to any single vendor or technology.

The Team:

Gilbert Verdian (Co-Founder / CEO)
  • Worked in Cybersecurity for 20 years at CIO/CTO/CISO level in Financial Services, Governments, Consulting, and Industry.
  • Founder of Blockchain ISO Standard TC307 where 40 countries are working together to develop the Standard of blockchain
  • Chair’s on the UK National committee on Blockchain.
Paolo Tasca (Co-Founder / Chief Strategist)
  • Worked for Deutsche Bank
  • Extensive knowledge and commitment to FinTech
  • Advisor to Nexo, Sonm & Humaniq
  • Executive Director of the UCL Centre for Blockchain Technologies and was the Dean of Research for the Chinese Jiangsu Huaxin Blockchain Research Institute
Colin Paterson (Co-Founder / CTO)
  • Has been working in Information Technology, more specifically Security, for the last 16 years in large Fortune 100, FTSE 100 and Government organisations around the world.
  • Information Security Lead at BT
  • Lead Information Risk Manager at CSC

Advisors:

Chris Adelshach, Techstars — Managing Director (Advisor)

  • Worked for GE company for 12 years. Held high positions including Director & General manager, Director of New markets
  • Managing Director of techstars (startup venture company)

Techstars has raised capital for 1,207 companies totalling 4.6 billion, averaging 3.8 million per start up.

Chris co-founded a specialty finance company in 2006 that became one of the UK’s fastest-growing privately held companies. In 2014, Chris and his co-founders sold their business to a NASDAQ listed entity and large U.S. Private Equity group.

Feel free to check out their team in more detail on their website. We don’t want to bother you with a long list but they’re all really strong.

Project Strengths:

  • Thought out revenue stream comprising of;
  • Quant App store; Developers can release free MApps (Multi chain DApps) applications. it will be a prerequisite that the client utilising the application holds a minimum number of QNT tokens in order to access the platform and use the solution.
  • Quant SAAS products; Quant will produce sector-specific technology solutions that are unique to that sector and industry and will help organizations and governments to navigate through the complexities of the new distributed hyper-connected economy. In particular, Quant will focus on Financial Services, Healthcare, Supply-chain and Government opportunities.
  • Quant Entreprise and Middleware products; Areas they are exploring include Decentralized exchange of value; Electronic Health Records; Decentralized Messaging System. As Middleware products Quant is exploring: Treaty Contracts; Identity Broker to authenticate and authorize users to access blockchains; Fiat currency gateways.
  • Licensing of Quant IP; License Quant IP to manufacturers and Internet providers/blockchain providers.
  • Partnered with the Accord Project, only company to be listed under technology.
  • Quant Network’s CEO has a very solid background, including a lot of experience in information security. He is also in Prime position to introduce the overledger platform to banking institutions and government bodies.
  • The team and advisory board are strong, and they have been working on Quant’s Overledger since 2015.
  • The company filed for a patent in December for “Blockchain Communications and Ordering” Patent number: 17425121.5–121
  • Comparative research of competitors as detailed in this extract of the white paper.

Project Concerns:

  • Currently only one developer (They are actively advertising for more)
  • MVP is yet to be fully developed, and as of now only technology specifications are available. According to the team, the technical code will be released on GitHub sometime in Q2 2018
  • Institutional investor’s of the project don’t include any big names in crypto, considering the magnitude of Quant Network’s goals we find this odd.
  • Current downturn in market.

TOKEN METRICS

  • Max Cap : 57,000 ETH
  • Token Type: ERC20
  • Total Token Supply: 47,465,000 QNT (100%)
  • Token Sold on Pre-sale: 6,474,226 QNT (13.6%)
  • Tokens Sold on Main Sale: 25,868,425 QNT (54.5%)
  • Token Reserved for Company: 14,458,506 (31.8%)

29% of the company tokens are a reserve for operational costs for development of Quant ecosystem with the remaining 71% going to founders,advisors & staff these are subject to 12 month vesting.

Token Price: 1 ETH = 430 QNT

Our Opinion:

We are bullish on the concept and team behind Overledger for multiple reasons:

  • Strong Team with extensive back backgrounds ranging from cyber security, capital investments and Fintech.
  • Team has strong ties with government bodies and national agencies.
  • If the team successfully solves the single-ledger dependency problem, there will be enormous use for the Overledger.
  • Strong Advisors with proven track records of building companies and ideas from the ground up.
  • They recently announced they were in talks with the Indian Government of Andhra Pradesh.

Areas of Improvement:

  • More developers need to be recruited ASAP.
  • Ideally a prototype or MVP would be functional prior to investment, however as the company has already filed for a patent in the EU this shows us they’re on the right path.

Our Grades:

Quant Network aims to reinvent the way we use blockchain and as supporters of the technology we must give them time to do so. With some current ICO’s having more hype from ‘influencers’ and being further along in their roadmap we think the long game with Quant Network is the best option for success.

  • Long Term 9/10
  • Flipping* 7/10

* Flipping is something that depends on the hype and on the market condition. Since the market conditions are not good yet and the project is too early for talking about the hype, the mark was low. That’s why the mark of flipping can change anytime and shouldn’t be the major selection for investing or not.

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Written By Michael Gibb, Telegram @gibboh.
If you want to email us: contact@gains-associates.com.

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