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Ratings buglab (PreICO)

Cybersecurity Penetration Testing

Buglab leverages the power of the Ethereum blockchain to enable attainable, versatile, and reliable penetration testing for digital enterprise solutions. The platform links organizations that have information security needs with a community of certified cybersecurity penetration testers in an incentivized environment. At the center of buglab's ecosystem, there are two programs - the Buglab Contest and Vigilante Protocol , helping companies all over the world to discover and fix vulnerabilities.

3.3
15 expert ratings
3.7
3.2
3.7
2.7
View rating distribution
16 days 18 hours left
2018-06-30 - 2018-08-04
Starts in 23 days 18 hours
2018-08-11 - 2018-09-11
Token
BGL
PreICO Price
1 BGL = 0.15 USD
Price
1 BGL = 0.15 USD
Bonus
Available
Bounty
Platform
Accepting
ETH
Minimum investment
6.67 ETH
Soft cap
6,000,000 USD
Hard cap
20,000,000 USD
Country
Whitelist/KYC
KYC & Whitelist
Restricted areas
USA, China
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Ratings

Douglas Lyons
Success Coach to Blockchain Startup Project Teams.
Rated on Jul 3, 2018
3
3
1
9%

while i believe there is a necessity for this, I would rather see it as a service provider rather than a blockchain product. incentivization and rewards models do not work for roi.
this is a very neiche product to which i do not believe will achieve any type of mass adoption.
nor do i believe there would be any type of short or long term return on investment.

+4Agree
+1
-3Disagree
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Nikolay Shkilev
Entrepreneur | CEO | ICO Advisor | Crypto enthusiast | Blockchain expert | Public speaker | Mentor
Rated on Jul 9, 2018
3
4
2
8%

Quite good team, but it is necessary to strengthen it cryptospecialists and experts who can bring a product to the international markets.
Vision is rather quite good. The project very worthy website and good ambitions, but yet has no product. I will be ready to change the rating as I will see these changes.

Agree
0
Disagree
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Mofassair Hossain
CEO and Founder Perhalic, ICO Advisor, Investor, PR and Marketing Expert
Rated on Jul 16, 2018
Modified on Jul 16, 2018
3
3
1
8%

Team is Experienced and Good... There are some good Number of Developers on Board but see only one Person in Marketing Department.
Vision is quite good but i am scared because team have to market this project in full pace to get max exposure. but lack of Marketing person on Board.
Dont have MVP looking forward to see the MVP

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0
Disagree
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Karnika Yashwant
ICO Marketing Expert | Launch Strategist | Global Branding & Fundraising Master
Rated on Jul 9, 2018
3
4
3
7%

Team is strong as who they are, but they need more blockchain experienced members in there.

I like that its KYC passed, but with just 25 days, I expect marketing to be more stronger and faster to be able to achieve the hardcap.

Agree
-2
-2Disagree
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Mohit Tater
Blockchain & ICO Advisor, Investor, Serial Entrepreneur
Rated on Jul 9, 2018
4
4
3
7%

Good idea and great product, but I think using blockchain technology is not a necessity here. Team is definitely good but it's a niche product and hard to market. Will be tough to get ROI for investors.

+1Agree
-3
-4Disagree
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Reinhard Berger
CEO Pecunio Blockchain Technologies
Rated on Jul 6, 2018
5
5
5
6%

Quite a strong and experienced team, and a niche product. This can be in advantage in an otherwise overcrowded ICO market. Achieving an somehow rewarding return on investment will be a challenge, though. Best of luck!

+2Agree
+1
-1Disagree
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Alexander Mitrovich
Managing Partner, Usetech.com
Rated on Jul 12, 2018
4
4
4
5%

This is a very niche project, which for me is a very good thing - no moons and no outlandish promises. It's big minus is large caps with a small percentage of tokens for the ICO. But if they get the project off the ground, this type of business is an excellent acquisition target, for which my rating is higher then usual.

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0
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Timothy Mayeur
Ecom Activator | ICO Advisor
Rated on Jul 6, 2018
3
4
4
5%

Cybersecurity is a huge industry and great space to play in. This area also appears to be the CEO's passion, having direct experience. At only 40% token sale allocation for $20M hard cap seems very high. This project caught my eye because it's definitely not a "more of the same" type of project. Milestones needs more meat around how to grow and noticed not a lot of experience outside of Europe, so there should be something in roadmap around international expansion.

Agree
-1
-1Disagree
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Nozomu Nakazato
ICO consultant
Rated on Jul 9, 2018
3
3
2
5%

The fight with hackers is a big burden for companies.
This project has very good ideas for these companies. And it is probably feasible.
How about Pentesters and Whitehats?

"Most familiar penetration testers and whitehats do not want to disclose their financial information in order to receive payments, so by creating a token we are able to attract those people."

This is written in the white paper. Surely it may be. But will they willingly accept currencies where the value is not promised to stabilize or rise?
What happens if the value of the currency plummets? The project does not explicitly state measures to maintain prices.
This is a common question for this project.

+9Agree
+9
Disagree
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John Papadopoulos
Crypto-currency enthusiast, Miner, ICO analyst, Angel investor, ICO investor
Rated on Jul 9, 2018
2
3
2
4%

Why does this has to be decentralized again? Is there any actual reason? Decentralized cyber security? What does that even mean? Is the token going to have any intrinsic value? No one knows. Just give us the money already and stop asking stupid questions.

+3Agree
+2
-1Disagree
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Antoun Toubia
Chief Excutive Officer at United Capital Investments s.a.
Rated on Jul 16, 2018
2
2
2
4%

Very poor ICO, the team is just a group of beginners, and has no relation to how to run a business , all they know is some IT. Also the idea is not unique at all, and penetration testing is not something that can bring value or huge profit to any business, these days with few bucks you can go online without these companies, and do the necessary testing.

This product and token will eventually fail cause there will be no demand for such service. Also the team soft cap is too much, as well the hard cap. People think they come up with some hundred bux product and ask for millions, i would never touch this ICO.

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0
Disagree
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Phil Millo
Blockchain Expert | Family Office Owner | Entrepreneur | ICO Advisor | Global Speaker
Rated on Jul 15, 2018
Modified on Jul 15, 2018
3
4
4
4%

VISION: I think this a very compelling vision. Some reviewers have commented that (a) there may not be enough of a market for widespread adoption, and (b) there might not be a need for the blockchain. The former may be true as this is a relatively niche market -- but I disagree with the latter as, in this case, the blockchain offers not only decentralisation but also, critically, the promise of general interoperability. 4/5.

TEAM. The team is strong. However businesses like these need to focus as much (if not more) on B2B partnerships and sales, rather than just cyber security and blockchain. For this reason, I'm scoring 3/5.

PRODUCT: Without actually auditing their Github code (at least they have an account), I'm scoring this higher than mid-marks since the whitepaper contains enough science and maths to demonstrate that the team genuinely has some kind of algorithm, albeit early stage. 4/5.

This is not an invitation to invest. ICOs are risk and you can lose everything you put in.

Agree
0
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Floyd DCosta
Management Consultant - Blockchain Technology | Co-founder @BlockArmour, @BlockchainWorx | Advisor, Chief Blockchain Officer @GBX
Rated on Jul 6, 2018
Modified on Jul 6, 2018
4
5
5
3%

Institutions are feeling the heat as Cybersecurity incidents continue to grow and IT security teams solutions struggle to keep pace. A platform that connects organizations with certified cybersecurity penetration testers (and other professionals) will effectively address a genuine need and capture a fast growing market.

The contest (with live ranking) and integrated hacking prevention program (via the vigilante protocol) make for an interesting approach.

Engaging with CSIRT and CERT's will help with institutional adoption.

Its good to see the niche focus (pen-testing) in an otherwise broad cybersec market.

Pretty comprehensive team. Seems to missing a career CISO. But that might be more a plus, than a minus.

+1Agree
-1
-2Disagree
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Gaurav Areng Chakraverti
Entrepreneur, Marketing Advisor, ICO Advisor, currently CMO and Co-Founder
Rated on Jul 14, 2018
Modified on Jul 16, 2018
2
3
3
3%

A "company" even a company running an ICO is still, at its core, a "company". A company, cannot function with a CEO alone with a room full of people under him/her. You're talking about global penetration, B2B adoption all across the world... how? The vision is fine. Definitely do see a need, although, that market is so niche that it will be a long, long walk to any kind of break-even point. Having a min investment of 6.67 ETH is also completely killing your investor network, considering you have a bounty well as a bonus, and you're looking to raise 20 million dollars to aid 9 people executing a software protocol.
Nothing against the scope. It's definitely doable, and I honestly feel this can be achieved even without an ICO. As a side note, the offer is no niche that I'd suggest just doing away with the bounty altogether. Possibly even the bonus. The roadmap also leaves a lot more questions than answers.

+1Agree
+1
Disagree
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Reginald Ringgold III
Finance Expert | Inventor | Financial advisor | Blockchain Expert | Business strategy | Investment deals | Investor relations | Founder of BlockVest
Rated on Jul 18, 2018
3
4
3
2%

This is a very impressive project and will fill a much needed void in this space. there are a lot of issues and concerns in the crypto community as it pretains to hacks. This project addresses These issues. Although the explanation of the product could have been done a little better it is a promising project considering if the development team can follow through with everything on the Roadmap.

Agree
0
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Benchy
ICO analyzer bot
3.7
20%

Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

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ICO KYC Report
2 members invited
Reda Cherqaoui
Passed
Amine Bioudi
Passed
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