Why the MorLabs ICO Roadshow in Asia is One to Watch
The mercurial rise in popularity for the initial coin offering (ICO) fundraising model has led many companies and start-ups to venture into this new market as a way of launching their projects. As a matter of fact, to highlight this fact consider the following stats:
· In the first 5 months of 2018, a total of 537 ICO’s with a volume of $13.7 billion have been closed successfully — which is more than all pre-2018 ICOs combined.
· Since November 2017, several large scale ICOs have entered the Top 15, dwarfing previous records from 2017 — with Telegram ($1.7 billion) and EOS ($4.1 billion), the first true ICO Unicorns have appeared.
ICO is the buzzword in fundraising and continues to crowd out traditional VC funding, especially in technology and Blockchain-related start-ups. Blockchain companies collected $327 million from ICOs during the first half of 2017. By comparison, VC funding accounted for only $295 million during the same period.
An initial coin offering (ICO) is where a company is creating a new product with an associated utility, and wants to build an ecosystem of stakeholders upfront who will benefit from purchasing the product early. This token sale enables the company to further develop their product with an established user base, and the company can use some of the proceeds to build the product. Companies or rather Start-ups normally face an uphill battle to get noticed in a space where hundreds of ICOs run at the same time. As a result, most companies turn to roadshows in a bid to market their ICOs. A roadshow is an intense and effective way to rapidly gain exposure and link with local partners to gain credibility through network effect.
MorLabs ICO Roadshow in Asia
Morlabs- a blockchain-based mortgage solution is currently conducting an ICO roadshow (that is from 16th September to 25th September 2018) in partnership with ICO SERVICE and the company is positioned to experience so much success thanks to its solid offering.
What separates MorLabs from other companies that enter the ICO market is that it is a well-established platform with an operating mortgage software solution deployed throughout all 50 states in the U.S. The company already boasts a captive audience of 200 banks actively using its software solution. In addition, the company is continuously refining it to achieve optimum performance while integrating with the blockchain technology to transform the solution into a unified ecosystem that makes it easy to optimize the entire mortgage process by, for instance, reducing the mortgage underwriting process from weeks to minutes, and as a result, significantly enhancing the current ecosystem while saving originators, traders, and mortgage investors billions in opportunity costs and lost revenue.
Here’s why this roadshow is one to watch.
The MorLabs blockchain solution value proposition integrates with already existing mortgage technologies and tech-enabled services and aims to leverage the benefits of the blockchain to develop a more accurate, efficient, secure global mortgage ecosystem. It aims to be a next-generation blockchain-based mortgage technology platform for consumers, real estate agents, mortgage brokers, lenders, aggregators, and securitization institutions by satisfying all the essential requirements for a successful decentralized and disintermediated platform. Furthermore, the deployment of smart contracts in this ecosystem assures that the service will be both autonomous and scalable.
MorLabs will be executing a token issuance and utility token sale under the name Mortgage TOKEN (MTG). The MortgageToken (MTG) is an open-source cryptographic token of fixed supply. It is fractionally divisible, fungible, and transferrable. 100,000,000 MTG were generated in April 2018. No additional MortgageToken will be created as this supply was defined at token creation and cannot be changed. In order to finance its blockchain development roadmap, MorLabs will conduct a token distribution event that will offer for sale 70,000,000 mortgageToken (MTG). Proceeds of the MTG token distribution will be used to fund the Company’s operations including the development of the platform’s blockchain-powered projects. MTG is to be utilized only by those interested in accessing information about a specific global mortgage that is logged on the MorLabs platform or making a global mortgage payment. The first Pre-sale started on 17th September and will run till 18th November 2018. The second Pre-sale will start on 19th November and run till 11th January 2019. The third Pre-sale will start on 12th January 2019 and run till 28th February 2019. The Token sale will thereafter start on 1st March 2019. The project’s roadmap is as follows:
· Q4–2014- SaaS Platform Developed.
· Q3–2016- Design integrations with blockchain begin.
· Q3–2017- Prototyping payment gateway transaction integrations with blockchain.
· Q3–2018- Blockchain Prototype Developed.
· Q2 2019- Blockchain ALPHA Platform Development & Testing.
· Q3 2019- ALPHA Platform v 1.0 release.
· Q4 2019- BETA Platform development.
· Q1 2020- BETA Platform API and Major Integrations Development.
· Q2 2020- MorLabs Platform v1.0 release for final testing.
· Q3 2020- MorLabs Platform v1.0 initial public release, API v1.0 public release.
Besides, the practical experience of many successful ICO roadshows shows that the team, the goals, and the protection of investors’ interests are the three topics which tend to interest the audience the most. Therefore, they need to be decided and articulated clearly to the audience before the start of an ICO roadshow. From an investors’ standpoint, a great team behind the project is one of the most important factors when deciding on contributing to an ICO. Conversely, an unproven or worse still, an anonymous team is likely to cause investors’ confidence to plummet and stop them from investing. And what makes MorLabs to stand out is that it consists of a proven executive team with decades of experience in mortgage lending and technology having operated a mortgage technology company for over 10 years together. Here’s a look at the team:
- Hyonwoo Shin- Co-Founder, Chief Executive Officer. Mr Shin brings years of experience in the financial technology industry leading several companies and serving financial institutions including banks, credit unions and mortgage origination companies. Mr. Shin brings a deep background in capital markets, mortgage finance and private investing stemming from over two decades in senior positions at Lehman Brothers, Jefferies, and Marathon Asset Management. He served in the U.S. Army and is a graduate of the U.S. Military Academy, West Point, NY.
- Daniel Nenadovic- Co-Founder, President. Mr Nenadovic is an entrepreneur with extensive experience as a managerial team member in various financial technology companies. Mr Nenadovic worked in an investment and executive role for Comvest, a private equity firm, and in technology M&A and venture capital at the Platinum Group. In these roles he led investments, roll-ups, and operational turnarounds at several technology companies. Prior to Platinum, Mr.Nenadovic was a member of the merchant banking firm Allen & Company. He is a graduate of the Stern School of Business, New York University.
- Esteban del Solar- EVP, Market Development. Mr. del Solar is an accomplished mortgage technology professional in the areas of mortgage loan processing, underwriting, servicing and data migration. He began his career as an underwriting analyst at New Day Financial (a mortgage originator). Mr. del Solar has significant experience in developing client facing SaaS technology solutions and is proficient in all of the regulatory compliance requirements with the CFPB and other federal bodies. He is a graduate of the University of Maryland.
- Vito Malec- Chief Technology Officer. Mr. Malec has over 20 years of experience in architecting, developing and managing software development for Consumer, Financial and Government clients. During his career Vito was involved in development of enterprise scale document management systems, SaaS financial solutions, credit card processing, remittance, loan origination and servicing software. Mr. Malec manages teams of developers across various software projects, implementing detailed workflow that is compliant with financial industry standards. With extensive experience as a software developer, Mr. Malec has excellent in depth knowledge about complex blockchain software and cryptocurrency technology. Agile development, scalability, security and compliance are the pillars of Mr. Malec’s focus as Chief Technology Officer.
- Andrew J. Chapin- Board Member. Andrew J. Chapin is the Co-Founder & CEO of Benja, the merchandise ad network which launched BenjaCoin in 2017. He is also the Managing Director of Chapin Labs, a blockchain incubator and advisory firm, and is the author of Art of the Initial Coin Offering, an Amazon best-seller. Previously, Mr. Chapin led business development departments at Microsoft, Color Labs, and Feathr.
- Thomas J. Lee- Board Member. Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is an accomplished Wall Street strategist with over 25 years of experience in equity research, and has been top ranked by institutional Investor every year since 1998. Prior to co-founding Fundstrat, he served most recently as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014, and previously as Managing Director at Salomon Smith Barney. His areas of expertise include Market Strategy, Small/Mid-Cap Strategy and Telecom Services. Mr. Lee received his BSE from the Wharton School at University of Pennsylvania with concentrations in Finance and Accounting. He is a CFA charterholder and is an active member of NYSSA and the NY Economic Club.
- Rafael Soultanov- Board Member. Mr. Soultanov has over 18 years of IT consulting and marketing experience in product development, marketing, and operational management. He has developed over 50+ enterprise platforms for Fortune 500 companies such as Samsung, InterContinental Hotel Group, Quest Software (DELL), Protective Life Insurance, Nielsen Media, France Telecom, Ethereum Blockchain and Start-ups.
- Andrey Verbitsky- Board Member. Mr. Verbitsky is an advisor and board member to many companies, such as: Curaizon Ltd., dApp Builder, Crypto Lawyers Corp., ICOBox, etc. His specialities include: Token Economy, Productivity, Collaboration, CRM, E-commerce, Billing, Start-ups, UX/IA & Behavioral Psychology, Product Marketing/Positioning/Launch, Enterprise-Level Solutions, JTBD methodology, Product Management, Agile, Real-Time platforms, M2M, Cloud, Agile/Scrum/Lean Management.
Unlike most companies out there that approach the ICO roadshow market without a viable business model, a solid team or roadmap, MorLabs has laid out its entire vision for tokenizing its services in a way that will reward all stakeholders. Due to an existing user base and a vision for incorporating blockchain in a way that benefits all the mortgage stakeholders, this MorLabs ICO Asian roadshow could prove to be the most exciting ICO roadshow of 2018 considering its solid offering alongside a living ecosystem that already demonstrates significant value.
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