Scam or Not: Zuum — are They Serious?
What is Zuum: a decentralized ridesharing platform
Project: Zuum platform allows for direct interaction between consumers and service providers, ensuring fair price per service deals on the basis of smart contracts. The platform has focus on the ridesharing market, though it can also be used for a variety of other on-demand services, such as taxi, road-side assistance, auto services, cleaning, household, etc. There are two versions of mobile app — one meant for consumers and the other one meant for professionals. MVPs of these both versions are ready and available on Google Play and Apple Store.
Country: USA
Website: zuum.co
Analog: Bitdrive
How they differ from the competitors: MVP is ready; can be used for a wide range of different on-demand services.
Date of ICO: October 1 — December 15, 2018 (Pre-ICO); December 22, 2018 — January 5, 2019 (ICO).
Token price: 1 ZMC = 0,1–0,25 USD (TBD).
Purchase: accepted currencies — ETH, BTC, LTC, USD; restricted area: USA.
What their token gives you: utility token.
What will happen to tokens: in total they will issue 1 billion tokens.
Token allocation:
50% — token sale;
20% — team and advisors;
18% — users and partners;
10% — company reserves;
2% — bounty.
How much they want to raise on ICO: N/A.
Where the money will go:
40% — marketing;
30% — operations;
30% — engineering.
Team:
👤 Si Raj Palli: Co-Founder and CEO
👤 Zhong Li: CFO
👤 Zhe Wei: VP of Operations
👤 Ye Want: Director of Legal Affairs
👤 Jitender Ahuja: VP of database/blockchain technologies
👤 Sarala Peachimuthu: VP of Product Management
👤 Ajay Raj: Director of Engineering
👤 Sailakshmi Behara: GM of India Operations
Advisors: N/A
Free tokens: N/A
Roadmap:
✔ March 2019: token listing on exchanges; building partner payment system.
✔ 2019: product launch in major cities across the world; enhance blockchain, AI algorithms.
✔ 2020: expansion in major cities across the world; continue product innovation in blockchain and AI.
✔ 2021: further expansion and platform adoption.
Communication:
Telegram — 61
Twitter — 231
Facebook — 20
❗️Why scam
Concept: ★★☆☆☆
The idea of implementing blockchain technology in the field of ridesharing services is interesting, relevant, and has all chances to become quite a success as the benefits for all the involved parties are evident. Moreover, Zuum project cannot be considered to be a complete SCAM as at least they already have MVP of mobile apps. The main drawbacks which make Zuum tokens high risky assets for investments are insufficient information about the project and complete lack of promotion. There is no whitepaper as well as there is no news about the project development, and the project is not highlighted in mass media.
Token: ★★☆☆☆
All we can find about Zuum tokens is that they are utility tokens meant to conduct transactions within the Zuum ecosystem and to incentivize the users. The token economy in general is not clear.
Crew: ★☆☆☆☆
Social network profiles of the team members are not provided. There is no information about their professional skills. No advisors.
Communication: ★☆☆☆☆
The number of subscribers in social networks is close to zero. Social groups were created last month and there are just several advertising posts.
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