SWOT analysis of ICO (ITO) project

Assessment of strengths and weaknesses, opportunities and threats to the external environment

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Project concept
5.0
Business model
3.3
The tech
6.0
Team
6.3
Tokens
5.7
Project support
6.3
Media Environment
5.5
Jurisprudence
5.1

Average score

5.4 / 7.0
Country
United States
Future Internet Economy or Sharing Economy update (v3.0.).

Origin protocol is a platform for creating decentralized trading platforms for transactions without traditional intermediaries. Decentralized Origin application will enable users to create listings and find information in the global data store.

The turnover of the sharing economy will exceed $ 335 billion by 2025, and in 2022 the revenues of the platforms (mainly through commissions) will exceed $ 40.2 billion, according to Brookings Institution and Juniper Research.

Such successful companies as BlaBlaCar, Airbnb, Getaround and Fiverr, connecting buyers with sellers, receive up to 30% of commissions for mediation and dictate their rules of the game in today’s sharing economy.

Developers will be able to implement their own decentralized applications (dApps) based on the Origin protocol, that will create many trading platforms for different markets. 40 projects have already joined the Origin network, the most famous of them are ServisHero, Kozaza, Thrive, CanYa, WeTrust, Storiga, Beetoken.
Currently, developers are running a beta version of the network with a working MVP application. Full availability of the platform with the launch feasibility of third-party DApps is scheduled for 2019.
The Origin project has several decentralized competitors.
The Openbazaar trading platform, that was created in 2015 and attracted $ 10.5 million of investments. The launch of the OBT token is planned only in 2019, and the difficult access to the OpenBazaar platform complicates its development and mass use. In addition, the project does not implement the concept of joint ownership and the platform community incentive system.

The District0x project allows to create and manage market organizations. The price of DNT has risen 5-fold since August 2017. Unlike Origin, the founders of District0x do not ensure the joint ownership and there are only 3 partner projects within the District0x.

Founders of Origin are two "star" developers - Josh Fraser and Matthew Liu. M. Liu is an experienced architect of products and businesses, as well as a full-cycle engineer. Liu was a project manager on YouTube and made a significant contribution to YouTube’s monetization.

The Origin team created several projects (Torbit, Qwiki, Bonobos, Lijit Networks) that were sold to the giants of the Internet industry (Google, Walmart Labs, Yahoo, Federated Media).

The project’s investor is the Pantera Capital fund, and two of its members - Paul Veradittakit and Joe Krug are members of the Origin’s advisory board. Joe is Co-founder of Augur (since 2015 the price of the token has risen 30 times). Paul was an adviser in several infrastructure projects, for example, ICO ICON, that attracted $ 43 million, and its token price has increased 10-fold.

The team will take several years and colossal efforts to make the sharing economy revolution, since they will have to create the global trading ecosystem of buyers / suppliers from scratch and encode all the intermediaries’ functionality and tricks competing with network giants and changing the firmly established public opinion about their security.

Origin aims to build a sharing economy v.3.0, in which people interact with each other directly with the minimum necessary trust. The project has a high chance of success (within two years) due to a strong team and rapid build-up of the partner network. The “Google search” of the Origin network, minus the centralization and Google of course, can appear in 2020, but the rapid speculative investors’ income is unlikely in the short term.

Strengths

The team has studied the competitive landscape and described the project's competitive advantages
Blockchain technology is necessary for the project
The issuance of tokens is limited
The legal structure of the company is transparent
The project is popular on social networks and in thematic communities
The project is widely discussed on blockchain news resources
The founders and leaders of the project are recognized professionals in their fields and in the blockchain industry
The project team has extensive experience and a strong track record
The project has a strong advisory board
The project’s partners are large and well-known
The team has a working product
The project founders have experience of implementing a successful business in the project field
The source code of the project is published on GitHub.

Weaknesses

There is no clear roadmap
There is no detailed financial plan
There are no tools (for example, the use of an escrow) that would guarantee the return of investments, if the stated usage of funds is not followed

Opportunities

Expansion of the market / Creating a new market niche
Increasing demand for the company's product
The growth of the token exchange rate in the medium and long term
Increased demand for tokens from ecosystem participants
Activity in the legal field of securities market regulators
The project activities are carried out with the fulfillment of the requirements for the processing and storage of personal data
AML Activities
Increased trust in the project and growth in investment
Activities in the legal field of entrepreneurship and tax payments

Threats

Low product and project competitiveness

Recommendations for the project

High-priority tasks

  • Develop a clear roadmap
  • Develop a detailed financial plan
  • Implement tools (for example, the use of an escrow) that would guarantee the return of investments if the stated usage of funds is not followed
  • Increase the competitive ability of the product and project

More information is required

  • about the business model details
  • about the conditions of the token sale
  • about the safety audit of the smart contract

Medium-priority tasks

  • Increase activity on social networks and in thematic communities
  • Identify additional opportunities to increase demand for the product
  • Improve the mechanism for protecting tokens against devaluation
  • Eliminate minor violations of the legislation in financial regulation and AML
  • Work out additional legal risks of project implementation
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