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Proxeus

HomeICO Reviews — Proxeus

Total Rating: 3.3
Team Rating: 4
Vision Rating: 3
Product Rating: 3
Token: XES
Category: Blockchain, Internet, Software
Total Supply: 300 000 000
Whitepaper: Link

А project that brings blockchain compatibility to traditional companies.

Proxeus – a project that brings blockchain compatibility to traditional companies by integrating a blockchain layer into existing enterprise systems. What does it mean? In simple words, Proxeus is making it easy for anyone to test blockchain use cases and create their own decentralized applications.

How does it work? The platform provides a series of building blocks that allows users to focus on the added-value of their product, instead of spending time on basic technological challenges.

XES token is already listed on several exchanges: Qryptos, Idex and Radar Relay

So far, it shows good liquidity dynamics (considering that it’s not listed on any large exchange) – it’s daily trading volume is 400000 – 600000 USD.

Strong sides:

  • Working MVP and project platform
  • Blockchain is already implemented in real-life, in registration of diplomas at University of Basel and registering a new business in Switzerland with IBM in record-time
  • Experienced, large professional team: CEO Antonie Verdon was named in the 100 top Swiss personalities by the magazines L’Hebdo and Bilan in 2010 and 2013, Patrick Allemann, Co-founder is also founder of Futuretek AG, and active cryptocurrency enthusiast since 2012
  • Large roadshow and good active participation in Asian market
  • Good expansion plan for the upcoming years
  • Platform has demand and takes its own unique niche on the market
  • Team is willing to grow and work with its community
  • Proxeus raised $25M within 48 hours
  • Project will be listed on several, Top-10 exchanges soon

Weak sides:

  • Business model is not well-tested: revenue formation model is not clear or audited independently
  • Platform is based on ERC-20 token, which means that it bears additional risks related to Ethereum platform performance
  • Shallow marketing work: project did well during ICO period but has slowed down since then
  • Has limited choice of exchanges: currently, it’s not listed on any popular/large exchange

Summary: In my opinion, this is an outstanding project with a good concept and growth potential. If you are familiar with website design, you have probably heard of wix and WordPress (website constructor). This project could become very successful and demanding in the blockchain industry. I like their business concept and their early-stage success. Proxeus is taking a unique market niche, aiming to simplify the whole process of decentralized application creation. With the growth of dApps demand, we are likely to see token appreciation, since more and more newcomers will use simple tools to create dApps. It seems like core team is aiming to work closely with their community in order to form loyal customer base and active community.

What could I say about the token? During ICO period, the project raised 25 million dollars within 48 hours and has half a million trading volume on small exchange! With all of their upcoming development, marketing and roadmap, this token will accumulate energy for a bull run. Proxeus is taking a unique market niche, aiming to simplify the whole process of decentralized application creation. With the growth of dApps demand, we are likely to see token appreciation, since more and more newcomers will use simple tools to create dApps. If you are curious to know more about the project you can join the community here and read our interview

Interview:

Q (Question) Do you have working MVP, and if you don’t, then how far are you from having fully functioning MVP available for public?

A (Answer) We do have a working MVP, it has been used already for several projects (incorporation of a Swiss company on blockchain, registration of diplomas with the University of Basel). We are now working on making the product publicly available – it will be released step by step in the coming weeks, starting with a release to a private beta group.

(Q) Could you please explain the concept of your project in simple terms? How would you explain the work of your platform to a person who just entered blockchain market?

(A)We make it easy for anyone test blockchain use cases and create their own decentralized applications by automatizing their business workflows and using the data produced to parameter smart contracts.

(Q) Why did you decide to make ERC-20 compliant token instead of making your own separate blockchain?

If you think of the upcoming blockchain development stack, we are not positioning ourselves as base infrastructure, but as a middleware. This allows us to connect to any blockchain – we have already done projects connecting Ethereum and Hyperldger. Proxeus is to blockchain what Outlook is to the Internet: we focus on the preparation of a blockchain event. If you send a mail, you generally do not know if it is using smtp or pop3 protocol. The same will be true for blockchain.

(Q) Give us at least one, real-life example of how your platform will be used?

(A) The last example we demonstrated consisted of registering University certificates on blockchain. Together with the University of Basel we have digitized the certificate creation process on a platform, on which course certificates can be issued. Those certificates are hashed and can be verified, for example by employers, via an online interface.

(Q) Have you done any researches towards your competitors?

(A) We are competing on some level with many projects, but do not have a direct competition yet.

(Q) Do you think your team is enough experienced to handle large project like this?

(A) We have been active in the blockchain space since 2012 as investors, developers and entrepreneurs. Our team has a very diverse background and decades of cumulated experience

(Q) What’s your current marketing strategy?

(A) Our marketing strategy has three aspects:

Social media: we are building a series of channels in multiple languages
PR: we are working with an agency to promote our successes to the traditional and specialised media
Events: we are organizing a series of events and will be doing a roadshow through Asia (Singapore, Hong Kong, Korea and Japan) towards the end of June.