Scam or Not: Blackwave — are They Serious?
What is Blackwave: a protocol for private and secure communications
Project: Blackwave protocol is aimed at securing all aspects of messaging. It offers software that can be used to host the accounts by organizations or individuals. This software is easy to use as it doesn’t require internet connection, dedicated IP address or specific hardware. Blackwave provides content and metadata privacy, authentication security, network resilience, anonymity and transparency. The company will charge 0,8 EUR fee both for the registration and renewal of addresses. The goal of the project is to create a communication protocol compatible with modern features essential to customers and meeting technical requirements for privacy and security.
Country: Malta
Website: blackwave.tech
Analog: Telegram, WhatsApp, Viber
How they differ from the competitors: a combination of 6 technical requirements for privacy and security
Date of ICO: January 21 — February 28, 2019.
Token price: 1 BWDT = 0,16–0,24 EUR (on different ICO stages)
Purchase: no details.
What their token gives you: utility token (software fees, discounts on hosting services).
What will happen to tokens: the total supply is limited to 359 million.
Token allocation:
60% — token sale;
25% — team;
10% — advisors;
5% — bounty.
How much they want to raise on ICO: 32 462 500 EUR.
Where the money will go: patent registration costs; continuous development, operations and legal costs; sales and marketing operations; academic research.
Team:
👤 David-Alexandre Yana: Co-Founder, CEO.
👤 Mickael Yana: Community and Marketing.
👤 Hafsa Nefouci: Designer.
👤 Iian Benichou: Developer.
👤 Aude Kereun: Designer.
👤 Jose Mejia: Developer.
👤 Muavia Ejaz Usmani: Developer.
👤 Ozan Konur: Front-End Developer and Designer.
Advisors:
👤 Josh Rager: Communication Advisor.
Free tokens: available in the frames of a bounty campaign.
Roadmap: N/A.
Communication:
Twitter — 540
❗️Why scam
Concept: ★☆☆☆☆
The idea of creating a messenger for private and secure communication is relevant. The weak point of Blackwave project is not in the idea itself but in unclear description of its suggested implementation. The team gives comparison of their product with such popular messengers as WhatsApp, Viber and others on the official website. Though in order to compete with these ones, they will need huge resources. Whereas currently there is nothing but the idea — no prototype, no MVP and even no roadmap. The whitepaper lacks a lot of essential information.
Token: ★★☆☆☆
BWDT is a utility token with limited supply. Token economy and token metrics is more or less clear. Though some details are still missing, e.g. there is no info concerning unsold tokens, token lock if there is any, plans concerning listing on exchanges, etc.
Crew: ★☆☆☆☆
Information about the team members is provided without links to social networks. Professional experience of the team is not described.
Communication: ★☆☆☆☆
There is a complete lack of information about the project development as well as there is no promotion in mass media. The number of subscribers is too low.
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