ICO Alert Report: NAVIADDRESS

By Dmitry Chesnokov

ICO Alert Quick Facts

A unified digital ID for places and objects in real and virtual world

$0.05 = 1 NVT token

Pre-ICO: January 29, 2018 – February 28, 2018; ICO: March 1, 2018 – March 31, 2018

400,000,000 total available / 1,000,000,000 total supply

Working app with 60,000 users registered and 1.5 million NaviAddresses assigned

What is NaviAddress?

Naviaddress is the first global digital addressing system being deployed onto the blockchain. It will provide people and businesses with freedom and ability to create, own, lend and sell their digital addresses. We call them naviaddresses – unified digital IDs for any place and object in real and virtual worlds.

We deployed Naviaddress addressing system in the end 2016. A user can interact with the addressing system through three our proprietary applications (web, iOS, Android). As of January 2018, there are 1.5 million naviaddresses in the system, including 1.3 million business naviaddresses; c. 60 000 registered active users of our applications. Naviaddress integrated its addressing system with UBER in 2016. In 2017 we signed the Strategic Partnership Agreement with Booking.com and later integrated our system with it. In December 2017 we signed LOI with DPD to start pilot integration project in Q1 2018. Alfa version of the platform on the blockchain is up and being tested now.

Naviaddress falls into the category of blockchain ID management projects. Our addressing platform will simplify and speed up the way transactions are conducted between common users and online retailers, postal delivery businesses as well as between users – without compromising privacy and security. Up to 20% and up to 80% of addresses in developed and developing countries respectively are not verified today from the first time due to mistakes in address spelling, verification and “last mile” navigation problems. This creates billions of US dollar wastes in e-retail and postal delivery industries. Naviaddress provides the solution for e-retail and delivery businesses – a trustless verified by transaction and geo coordinates precise ID of users’ locations with metadata. The solution that will cut the wastes drastically.

International tourists and expats remained inaccessible for local hotels, cafes and restaurants. This result in lost sales. Naviaddress will provide authentication and easy last mile navigation for local HoReCa and retail outlets due to only digits, no language-specific, digital address, which is easy to find, share and communicate.

– Dmitri Moiseev | CEO

Q&A with Dmitri Moiseev, CEO

ICO Alert: How does the NaviAddress token (NVT) function within the platform and why is it needed?

Moiseev: NaviToken is a utility token. Naviaddresses are exchanged for NaviTokens. Premium naviaddresses (1 – 5 digits) will be purchased by users. Custom naviaddresses (6 – 8 digits and more) will be paid by the platform. We are building freemium model.

We also plan to use tokens reserved for development of the platform and ecosystem around it in three major ways:

1) Incentivize local national partners to work with the platform by coinvesting with them into JV – we will invest our tokens (5 – 10%< of overall development fund of the JV). Sell country/regional containers of premium naviaddresses (1 to 5 digits) for NaviTokens through auction to local partners (could be JV) with proven competence in the subscription business so that they will lease naviaddresses to local businesses for fiat and make money. The result of this transaction – all nominal price in tokens for sold naviaddresses will be burnt by the platform while the premium – a difference between market price and nominal price – will be retained by the platform as the revenue. Our current forecast shows that 150 million NavTokens will be burnt if the Platform sells 30 national containers of premium naviaddresses.

2) Incentivize big verified address holders (DHL, DPD, others) to share verified addresses with the platform. We will need NVTs to incentivize them to share.

3) Incentivize GIS experts to verify currently unverified addresses. As you see, we need to have a quite sizable ecosystem development fund. We intend to play long term.

ICO Alert: How does the use of blockchain technology benefit your project?

Moiseev: It was business ‘early adopters’ of our addressing system who turned our heads into blockchain tech direction. Their first feedback was that they would adopt our addressing system faster if Naviaddress can provide three things:

1. Open source system, instead of proprietary – i.e. Google maps or Yandex maps;
2. 2. Flexible and customizable;
3. 3. Detached from two years start-up – no venture risk.
4. Blockchain technology appeared for us as a universal solution to meet early adopters’ requirements.
5. Addresses are provided by governments and governments agencies. So, bureaucrats own the process of issuing you and me an address. UN agencies consider poor addressing system a real problem – up to 4 billion people in the world live without addresses. The beauty of the BC technology is that now a person will not need a bureaucrat to provide him with an ID for his location. A person can get it from Naviaddress addressing system once the system migrates on the BC. And Ia person will also get his ownership rights over the location ID via smart contract.
6. People with no address are unable to order on-line and experience social segregation, can be better served by their governments. Naviaddress platform shall provide verified by transaction and trustless postal and delivery digital addresses for billions of people worldwide with almost no cost. Usage of naviaddresses will enable local governments to provide more citizens with essential services and create new markets for e-retailers and delivery businesses (AliBaba, Amazon, etc.). A user can create and own via smartcontract as many naviaddresses as he/she wants with no government involvement and within several minutes.
7. Up to 20% and up to 80% of delivery addresses are not verified from the 1st time in developed and developing countries respectively. Mistakes in addressing also result in last mile navigation problem. Naviaddress platform shall provide trustless verified by transaction and geo coordinates precise ID of users’ locations for online and delivery businesses. Our solution will cut the waste drastically. Users can create and own via smartcontract as many personal and business naviaddresses as needed.
8. Local HoReCa and retail outlets are not authenticated for international tourists and expats and remains largely inaccessible. Once on the blockchain, Naviaddress provides authentication and easy last mile navigation for local HoReCa and retail outlets. The latter is due to no language-specific – only digits, digital address, which is easy to find, share and communicate. Any business can create and own via smartcontract as many business naviaddresses as needed within several minutes.

ICO Alert: What are some of the major companies that you think will benefit from your technology? Do you have any planned partnerships you would like to discuss?

Moiseev: As of January 2018, there are 1.5 million naviaddresses in the system, including 1.3 million business naviaddresses, with the total number of registered active Naviaddress app users exceeding 60,000 people (including web, iOS and Android). We are building partnerships with large address holders in delivery, e-retail and HoReCa businesses, such as booking.com, DPD, and plan cooperation with State Postal Services, AliExpress, Amazon, etc. to share verified addresses with the platform. Naviaddress integrated its addressing system with UBER in 2016. In 2017 the Strategic Partnership Agreement with Booking.com was signed and later Naviaddress integrated its system with Booking.com. In December 2017 we signed LOI with DPD and started a pilot integration project in early February.

ICO Alert: You’ve mentioned that your technology can be used for drone deliveries. What are your thoughts on future delivery services, like drones, and how will NaviAddress work with them?

Moiseev: We provide digital addressing layer over any digital map, including Google Maps. When we migrate our addressing system to blockchain, all naviaddresses, in addition to other features, will start getting verification by transaction between users and business users. Once a user’s naviaddress is verified and trustless, then any business (delivery, e-retail) and another user linked to our platform can transact with user’s location digital ID at almost zero transaction cost and reduced uncertainty. By design, naviaddress ID and data container can be used in M2M communication, meaning that once the naviaddress is created and verified, it can be used by automatic delivery system that may transmit the command to its drone to deliver goods using the 12+ digits navi.

ICO Alert: Is there any concern with the lack of scalability that the Ethereum network has? If the project encounters transaction speed issues, what possible solutions would you implement?

Moiseev: We actively follow the development of Ethereum and believe in this technology but are also ready to launch our first version on a private PoA version, as do other projects.

ICO Alert: How are you planning to scale your user base?

Moiseev: There are five pillars in our growth strategy:

1. Partner with UN, World Bank, United Postal Union, international agencies as well as national state agencies to solve the ‘lack of addresses’ issue. Provide for integrations with national postal and addressing systems.
2. 2. Build and run partnerships with local national subscription businesses. Incentivize local national partners to work with the platform by co-investing with them into national level JV – we will invest our tokens (5 – 10%< of overall development fund of the JV). Sell premium country/regional containers of naviaddresses for NVTs through auction to local partners (could be JV) with proved competence in the subscription business so that they will lease naviaddresses to local businesses for fiat.
3. 3. Build partnerships and integrate with large address holders in delivery, e-retail and HoReCa businesses. Incentivize big verified address holders (DHL, DPD, others) to share verified addresses with the platform.
4. 4. Engage GIS experts and communities to verify currently unverified addresses that we plan to upload to the platform.
5. 5. Grow our app user base and retention by increasing apps usability and user interface.
6. ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
7. Moiseev: Our roadmap is available on the site. We do not have hard/soft cap targets since unlike many blockchain projects, we are not a startup and need minimum seed funding to make an MVP. Our ICO target is $20 million USD. This is the funding we need to fund our migration to blockchain, industrial and national partners network development, marketing and global rollout for the coming three years.

ICO Alert: As a non-NaviAddress question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3 – 5 years?

Moiseev: We believe that:

1. More IT companies with working products like our will enter blockchain space for obvious reason of decreasing venture risk for their early adopters.

2. Crypto banks will appear and grow in numbers. They will eat out sizable share from current banking industry which has become less banking and customer friendly and more compliance and controlling.

3. More blockchain protocols will appear, more efficient, with greater flexibility and addressing more custom needs of the community.

ICO Information

The Pre-ICO begun on January 29, 2018 and will end on February 28, 2018. The main ICO will begin on March 1, 2018 and will end on March 31, 2018. There are a total of 500,000,000 NaviAddress tokens (NVT) available during the Pre-ICO and main ICO, representing 50% of the total NVT supply. A hard cap of 25,000,000 is set for this period.

$0.05 = 1 NVT token

Current accepted currencies for NaviAddress include Ethereum, Bitcoin, and fiat currency.

NaviAddress is an ERC20 token, so it’s important that contributors use ERC20 compatible wallets to send funds to the ICO smart contract, and to receive the NaviAddress tokens.

Token Distribution Information

There are a total 1,000,000,000 NVT tokens being created, with 500,000,000 available during main ICO.

Contributors will have their tokens distributed shortly after the end of the ICO. Visit the NaviAddress website for more information and the contribution address: https://naviaddress.io

Originally published by ICO Alert at https://blog.icoalert.com/ico-alert-report-naviaddress-55c19c0bc731