Syscoin (SYS) — The Ebay of Blockchain

Blockchain is the most transformative technology since the creation of the internet because it has the capacity to translate into and impact every existing industry. So, who will be the Amazon, Ebay, Google, Facebook, Snapchat, etc. of Blockchain? Well, I can answer one of those questions. Syscoin will undoubtably be the Ebay of Blockchain. However, Syscoin will have an even greater impact on the world because it is not only a decentralized platform to buy and sell goods, but is also a cryptocurrency and much more. Today, Syscoin trades at $.31, but because of the potential 5 billion users and the drivers of growth that I will discuss, this coin can easily be roughly $3 in the next two years.

Basics:

1. Launched in March 2014, Syscoin is a digital peer to peer currency, based on the Bitcoin protocol, and is a decentralized marketplace
2. The decentralized marketplace, BlockMarket, allows users to buy and sell products, as well as data certificates
3. Today, only Bitcoin and Syscoin can be used on the BlockMarket platform
4. The Syscoin team has also launched the Blockchain Foundry to help develop businesses that are utilizing the Syscoin API
5. The Syscoin API has the ability to make a blockchain application that serves as legal documents, medical data, payroll documentation, etc
6. Ticker: SYS
   Price: $.31
   Ranking by Market Cap: 36
   Market Capitalization: $174,735,893
   Circulating Supply: 529,271,750 SYS
   Max Supply: 888,000,000 SYS
   Average Trading Volume: $7,904,520
   Block time: One Minute
   Consensus: PoW

Team:

1. Syscoin team is lead by Sebastian Schepis. He has been involved in technology since the age of 6 and around the age of 12, he even became a leader within a local hacking group in Toronto. At the age of 19, Mr. Schepis became the first employee of a startup founded by Canada’s first Competitive Local Exchange Carriers. Since then, Sebastien has worked for several other CLECs and brings more than 15 years of experience from almost every type of product offered in telecommunications (data, wireless, voice)
2. The Syscoin team has an additional 2 developers working on this project full time
3. The team also has 2 marketing specialists, 2 community managers, and one business developer

Drivers of Growth:

1. BlockMarket will provide users with the capabilities of imports and plugins. Meaning, the Syscoin team will allow you to import all of your listings from externals sites like Ebay, and the protocol also has plugins or enables platforms like Shopify or Etsy to use Syscoin. These functions will draw more users to the platform, as well as help gain mass adaption
2. Syscoin has hardened smart contracts that allow users the capabilities of decentralized trading, creating and storing digital certificates, creating aliases, multi-signature services, price pegging, etc. this protocol has literally countless use cases
3. There are absolutely no middle man fees on this platform, the amount you sell is the amount you receive. BlockMarket does not take a percentage
4. BlockMarket is striving for mass adoption so listing your products on this platform will be 100% free AND there are no hosting fees for merchants
5. The decentralized nature of the platform makes it free from political interference. For example, if you live in a country that prohibits certain items, you will be able to obtain those products without any traces
6. Bitcoin and Syscoin are the only two types of payment available on BlockMarket. I imagine that once BlockMarket gains enough traction in the market, they will opt to exclusively accept Syscoin as a form of payment. This will inherently increase the utility of the cryptocurrency, thus increasing its value
7. Like Bitcoin, the nodes that secure and power this platform will be spread out across the world, furthering its decentralized nature
8. Syscoin has a newly formed partnership with Microsoft’s Azure. The possibilities of this relationship are endless
9. Like other cryptocurrencies, only you are in charge of your money. BlockMarket will never confiscate your funds for any reason, whether you are a merchant or customer
10. The launch of the Blockchain Foundry will help support and develop business that are leveraging the Syscoin API. This will further Syscoin’s reach and influence into business segments like medical data, legal docs, payroll documentation, etc.
11. The BlockMarket platform also provides a decentralized messaging system that allows you to communicate with other users on the platform

Headwinds:

1. This type of technology is VERY advanced and as result the current population will have technical limitations. The true value of this project will not be unleashed until the next 5 years or so
2. The size of the team is a little small, relative to everything they are trying to accomplish. Also, it would be great if they provided regular and consistent updates of their progress on all social media channels, but they are very ambitious
3. Since regulation will always trail innovation, the digital currency space can be subject to new regulations in the future
4. As of now, Syscoin’s growth has happened purely through word of mouth. There has currently been no marketing dollars spent on this project

Summary:

The valuation of Syscoin is a little more complex because this project is so unique. Currently, Syscoin has 70,000 users, since BlockMarket went live in August 2017, and is trading at:

Ticker: SYS
Price: $.31
Ranking by Market Cap: 36
Market Capitalization: $174,735,893

Let’s conservatively assume that Syscoin will be able to take .25% of Ebay’s active users (168 million) year over year, and that each user represents the same value. As well as, every 70,000 users equates to an increase of $.30 to the price of Syscoin.

At the end of 2018, Syscoin will have 420,000 new users, and at the end of 2019 roughly another 400,000 new users. Over the next two years Syscoin will have a total of 820,000 new users on their platform. This would imply that roughly $3.50 would be added to Syscoin current price of $.31, which would bring the price of Syscoin at the end of 2019 to:

1. Ticker: SYS
   Price: $3.81
   Ranking by Market Cap: 14
   Market Capitalization: $2,144,687,671
   Circulating Supply: 562,910,150 SYS

This price prediction does not include a market growth rate over the two year period.

I hope you all enjoyed today’s write up! Syscoin team… let’s market and educate the world with all the great things you are doing!!

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