The Auditchain Project (Switzerland)
Auditchain is working on developing an ecosystem in which blockchain, with its openness and resilience to attacks, is linked to an open source library of accounting smart contracts.
These smart contracts provide data on the balance sheet, income, turnover and changes in shareholders' capital at the closing of each block, i.e. every 10 minutes. The patented system is called DCARPE (TM) (Decentralized Continuous Audit and Reporting Protocol Ecosystem).
DCARPE supports the so-called full stack protocol. That is, it includes a wide range of applications: blockchain, smart contracts, EPR, nodes that confirm auditing, and the reporting protocols themselves. The library of smart contracts will include a combination of GAAP, IFRS and GAAS standards.
Implemented, it will look like this: the board of directors appoints the person responsible for the implementation of Auditchain, who in turn determines the level of access for the remaining participants in the system. The organization submits a collateral package in AUDT tokens in the event of unforeseen circumstances, which is also used to pay for the confirmation of information and the operation of the system.
Is blockchain really required? Apparently, for the audit process itself - no. But blockchain is needed for transparency, automation, speed, and frequency of audits. The Roadmap for the project is very lengthy. In fact, it is stretched over a period of time up to the third quarter of 2019. At the moment, a private testnet is in operation. The developers promise that they will display the prototype during the time of the crowdsdale.
Tokenometrics of the project: 160 million tokens (of the initial 250 million) are for sale; 25,833,333 - to the team (LOC 1 year); 25,833,333 – to the project advisors (LOC 1 year); 25,833,333 – to the partners and developers; 12,500,000 are reserved for the bounty. After the actual launch of the system, the number of tokens will grow by approximately 12.5 million per year. This is 237 AUDT per block (10 minutes).
Algorithms and methods of mining AUDT are developed specifically with the project in mind. We were able to find out that this will be specialized software. Interestingly, the payment for transactions, like gas in the case of Ethereum, will be in the form of local currency or in tokens depending on the choice of participants in the system.
The Auditchain Project has a truly stellar team.
Jason Meyers, who is the CEO, has over 30 years of experience in investment and commercial banking services of companies in the early stages. In 2012, he founded Vestcomp Ventures, which is a business incubator for blockchain projects. Paul Ostling is responsible for relations with governments and regulators. Member of the board of directors and auditor of many large companies, for a long time he held several top positions at EY, a company which is a member of the Big Four.
Eric Cohen is an XBRL architect and an industry legend. He is one of the founders of the XBRL format with more than 30 years of experience.
Stuart Haber is the chief scientist of the project. He is a legendary man in the world of blockchain, whose works deserved a mention in the original whitepaper of Satoshi Nakamoto.
The Token Fund recommends the project for medium-term affiliation. Auditchain solves many problems associated with the auditing procedure; besides, it has the strongest team. However, in view of the uncertainty of the tokenometrics and the hard cap, the preliminary estimate is 7/10.
2. Egretia (USA)
Egretia is the world's first engine platform for creating games using HTML5, with the aid of blockchain technology. Currently, users of HTML5 games account for 47% of the total number of users of mobile games. Combined games that use HTML5 have already developed to a point of autonomous commercial profitability. In 2017, the size of the HTML5 game market in China exceeded $1.5 billion, and today the trend is toward increase.
Egretia was created by Egret Technologies (https://www.egret.com/en/). This is one of the most powerful and popular engines for creating HTML5 applications and 2D games. Plus, the engine is free and handles multiple platforms. As the project's whitepaper says: «Egretia Lab is teaming up with Egret Technologies to create the strongest blockchain ecosystem in the HTML5 world».
The system will consist of five main platforms:
1. The Cloud Platform For Distributed Communications And Data Storage.
The platform will use blockchain nodes, providing decentralized exchange and storage of data.
2. The Game Distribution Platform.
This platform is the official decentralized application of Egretia Lab. Users will be able to play HTML5 games on this platform and make payments through Egreten. Using the Proof-of-Game (POG) mechanism, players can also receive Egreten rewards by playing or sharing games with friends.
3. The Virtual Item Trading Platform.
All users of Egretia games can buy, sell or exchange their virtual goods on this platform for the system’s tokens.
4 The Egretia Ad Platforms.
This is an advertising system based on the principles of KYC blockchain, smart contracts, and digital platform tokens.
5 The Egretia Incubator.
This platform is used for technical support of development teams and freelance developers, creating a bridge for communication between players and developers.
The idea itself is aimed at blockchain games like Crypto Kitties. The tokens are used as a complete replacement for fiat currency. Perhaps, at this stage of the crypto-market development, this is not the best idea. During the next two years plus it will be easier to use fiat. In addition, these games can overload the network and reduce the speed of Ethereum network transactions, which was what at some point Crypto Kitties did.
Of course, there are other engines for creating games. For example, world-famous Unity once tried creating something similar and even announced a partnership with Enjin Coin (a crypto-coin for gamers). The Egretia project is aimed at 2D blockchain games, so we will assume that there is no competition as such.
The release of the alpha version of the SDK is scheduled for the end of 2018. The release of the wallet is set for the beginning of 2019. The launch of a stable Egretia version 1.0 is scheduled for the middle of 2020. Technically, the product will not appear very soon, and there is no publicity around the project.
Analysts at The Token Fund do not recommend this project for investment. The Roadmap indicates that the product will not be ready for at least 2 years.
The partners, although relatively reputable in China, still do not seem to have enough promise to reach the level necessary for a good ICO.
The team has experience working in the field of games. With 90% probability, Egretia will not function as an independent company but will only be one of the 15 products used by Egret. The project estimate is 5/10.