Review of Faireum ICO project
Gambling is banned in many countries. Some of them have separate areas for gambling. When people enter the casino, everything is connected with the lack of self-control, willpower and simply their detachment from reality. In addition, in some religions, gambling is considered as a sin. However, censorship does not apply to your sins in the network. Here everyone is a judge and a Watchman. This is what the creators of various online casinos use. Despite the fact that users there are often cheated, and it is impossible to prove the independence of your result, of course, people continue to "pour" there hundreds of thousands of dollars (if not more). The transfer of gambling on blockchain can radically change the situation. First, the forgery of the results is a priori impossible. A smart contract guarantees reliability. It also generates random numbers that drop in games. Secondly, in case of victory the player will get a gambling gain and even the organizer will not be able to hinder him. This is what attracts fans to try their luck, and their demand in turn gives impetus to the new projects development. One of them we will consider today. Meet Faireum - a platform for gambling.
As always, let's start with evaluations. The project was added to their sites by 4 rating agencies from 14, analyzed by the Cryptolaboratory. All agencies equally praised the team. ICObazaar gave 4.5 points out of 5, ICObench gave 4.9 points out of 5, and analysts of ICOmark and TrackICO gave the maximum evaluation to the team -10 out of 10 and 4 out of 4, respectively. The ICO profile also received high evaluation – 4.9 out of 5 from ICObench and 10 out of 10 from ICOmarks. Both -Product and Vision - got the worst scores - 4.3 out of 5 from ICObench.
To correct the shortcomings of the modern gambling business Faireum team decided to develop its own blockchain for project that provides a decentralized, low-cost, transparent and secure gambling experience. As a matter of fact, a whole ecosystem is created, including ledger nodes, P2P networking, a virtual machine for Smart Contracts and a set of rules for token distribution, rewards and payment. Of course, it is impossible to implement such a large-scale plan without a qualified team, so let's take a closer look at the team.
First of all it is worth mentioning Ishihara Yoshihiko, the project's CEO. He is a rather experienced businessman, who has been a consultant in several firms and has been combining entrepreneurial activity with teaching at Aoyama Gakuin University for more than 11 years. His high status in the business world is said by the position of President Of The Board Of Directors in one of the Japanese companies. The person Jixing Jin, occupying the position of CIO in the company, looks ambiguously. It is logical to assume that IT-Company will take a person with a solid career path for such a high position. However, prior to joining Faireum Mr. Jin has worked as Overseas Manager and General Manager for about 12 years. It seems that he was engaged to nothing related to IT sphere. But one of the blockchain-developers - Andriy Cholak - has three years of experience in blockchain projects. If everything goes well, we believe he will become the next CIO company ;-)
In our opinion the White Paper of the project is worthy of the maximal estimation. It is clearly structured, but also does not have overloading useless information for the investor. But it has the detailed structure of gambling business, it analyzes volume of the market, the economic model of development of the project, and also the competitors. Many ICO projects would be worth learning from Faireum writing such documents.
Work with potential investors in social networks is carried out at a decent level. Startup telegram can boast of the biggest audience– 6500 people. The second place is Twitter with 1800 subscribers. Behind it, there is Facebook with a small margin of 300 people
Given the stable demand for online gambling, we can say that the project will definitely find its client in case of its successful implementation. While the blockchain casino niche is not very busy, the place is enough for everyone, and the main thing is to approach the problem from the right side.