ICO review: Crypterium

ICO review: Crypterium

Best ICO of the week: Crypterium

New crypto currency: CRPT token
Web site: https://crypterium.io/
What’s it about: A platform for processing payments and making transactions in cryptocurrency
Upcoming: 30/11/2017-24/12/2017
ICO price: the hard cap is 28 mln $

About the project:

Crypterium will be a mobile application for transferring payments in cryptocurrency worldwide. The platform of the project will enable users to make transactions across the globe and in any place Visa or Mastercard is accepted.

The platform features 4 instruments. First, it will be a mobile bank downloaded on your phone. The app will enable users to process payments in stores with the help of QR codes, AndroidPay and other systems. Second, it will offer tool for online exchange of cryptocurrency and bitcoin acquisition. Third, it will be an open API platform offering retailers software solutions for creating apps based on the Crypterium payment systems. Last but not least, founders of the project are going to give loans online using smart contract technology.

The site of the project enlightens a special information security system, implemented on Crypterium, which includes PCI DSS certificates, fraud monitoring and wallets based on smart contract secure solutions.

ICO marketing:

The Financial IT called the project one of the most promising ICO’s of this year and enlisted the project in TOP 50.
The key selling points of this ICO include: small commissions for transactions (only 0,5 %) and the tool that enables merchants to receive payment in USD even if the transaction was made in bitcoin.
Though the target of Crypterium is nearly reached and the founders have collected over 21 mln USD to date. The risks of investing in the project could be high: the industry still lacks regulation and funding for launching a working global payment system. Here is a question if the cryptocurrency in general could be considered a unit of payment rather than an a source of storing assets.
Though the founders of the project position it as JP Morgan 2.0, one may notice that the idea behind Crypterium barely differs from Tenx or Cryptopay.

The team:

The Co-founder of the Crypterium is Mr. Gorbunov, who was previously involved in other blockchain projects such Pay-QR and Workle. Another founder, Steven Polyak is the Managing Director of the project. He is known to be an investment banker in the USA and Russia. The COO of the project is Gleb Markov, carrying more than a decade of experience in the fintech industry. List of advisors includes Keith Teare, Executive Chair at Accelerated Digital Ventures; Elie Galem, Chief Investment Officer at Eastmore Group.