Rated on Oct 19, 2019
Modified on Oct 21, 2019
→ Blockchain Advantage - ✅❤️
→ White Paper - ✅
→ Team Composition - ✅
→ Token Economics - ⛔️
→ Business Model - ✅
→ Social Media Presence - ✅
→ Collaborations & partnerships - ✅
→ Fund Allocation - ✅
→ Legal Loopholes - ⛔️
→ MVP/ DApp/ Working Product - ✅
The team is experienced and the business is already operational. They have focussed on a niche market, which is well worth it. The WP is concise but lacks details regarding a few issues. The WebApp is operational and fully functional.
The soft cap of 4 million US$ and hard cap of 8 million US$ is unjustified due to lack of financials. The platform is for improving the operations process but unfortunately it does not include supply chain traceability of the bulbs which it should to have a holistic approach. Lack of KYC+AML (failure of KYC process even on ICO Bench) and Legal eagles among others raises a question mark.
You can find my ratings methodology here- https://medium.com/@krishnenduchatterjee/ico-evaluation-investing-a-vc-perspective-for-investment-over-greedy-short-term-returns-433f6f9e13d8
With view of the comments -
"Dear Krishnendu Chatterjee,
We appreciate your time and efforts looking into the BuyAnyLight project, and we are glad that you liked the overall idea.
While going through your review, you raised some questions, which we certainly would like to answer and explain to you.
1. Lack of financials: The word financials here is not clear, so can you please explain what exactly do you mean by that. For your information, we would like to point out that the BuyAnyLight platform has already acquired a seed-round investment of USD 2 Million. Moreover, complete tokenomics are mentioned within our site and across all of our documents i.e., white paper, pitch deck, and the one-pager.
2. The platform doesn't include traceability of the led bulbs.
Sir, we would like to point out that the white paper has clearly elaborated on the supply chain and traceability part. In fact, that has been added among the main issues faced by users within the industry, and a detailed solution is presented to it. Please also note that BAL has its origin from Almani Lighting Dubai with its headquarter in Almani Lighting Gmbh, Germany.
Almani is an established company with more than 40 active employees, and it is part of Asas Holding Group. Moreover, our portfolio has a few leading clients, including but not limited to Mall of Emirates, The Opus Business Bay Dubai, HH Sheikh Khalid Alqasami palace, Bloom heights Jumeria Dubai, Holiday Inn Dubai, and Asas Holdings, etc.
So, the idea of BAL came from the working experience of our founding body and leadership team faced while doing business in Almani lighting. Problems such as Trust, Price, Third-party costs, Scalability issues, delayed payments, and logistic issues. That is where BAL comes into life, whereby we strive to resolve all such problems by using the power of blockchain, AI, and BigData.
3. KYC and Legal:
That part is already passed, please check. Rest assured, just for your information, please note that Mr. Martin Heyen is the son of Dr. Meino Heyen, a leading member of the team that invented the first-ever LED chip. Moreover, we have established set up here in Dubai, and we cordially invite you or anyone interested to visit our office Green Community East Gate beside Park N' Shop - Dubai - the United Arab Emirates during office hours, whenever they like.
4. Business model:
We took a detailed look into the medium article you have shared about the evaluation criteria, and we are glad to share that we share the BAL Project has a well-thought business and revenue generation model, details of which can be found within the White Paper.
We hope all of your questions are answered, and all of your doubts are cleared now. If there is still any query or you need to know something about the project, please feel free to reach out to us on our telegram or email us at [email protected], and our team will get back to you soon.
Also, we hope that with your concerns already been resolved, you may please consider revising the overall evaluation of the project.
Thank you again for your time and best regards,
I am updating my score with the following comments -
1. Financials - Seed funding raised, operating costs, expenses, break even point, etc. Not just fund distribution plan.
2. Traceability solution TBD
3. KYC+AML - means for the platform users
4. Business Details provided.
Rated on Oct 24, 2019
Modified on Oct 27, 2019
I like the idea that this project is directly led by people who are actively in the industry for around half a decade. They have Almani Lighting as their parent company which has 5 years of experience in the Dubai and German market, that is excellent. Mr. Johannes is well versed in entrepreneurship and is already leading a few successful projects.
Mr. Martin is the son of the person who invented first ever LED chip, there you have the potential. I studied further and found out that their parent company was a multi-hundred million dollar company, that gives this project a significant credibility.
They have a working product: what else can a startup be expected of?
They have cleared the KYC, very good, they are already authentic so that speaks for itself.
Their support and technical team is diverse. I noticed they have in-house developers, marketers, content writers, sales person, design architects? Very few startups can manage to afford this.
I think this project has a certain potential in the industry the are targeting and if done right, they can be the leader in the LED market.
Rated on Oct 21, 2019
Modified on Oct 21, 2019
I really like this project.
Before this review I asked several questions to the CEO and he promptly and precisely answered to some of my doubts.
I think that this platform with the experience that Almani Lighting Gmbh caa prove in the same field have great success potential.
Universal token to increase transactions speed and avoid conversion fees between fiat currencies will help LED technology spreading.
Blockchain can play a "notary role" to keep track of transactions and orders sent to reduce disputes.
The team is well structured and promising
Rated on Oct 24, 2019
Modified on Nov 4, 2019
The project looks promising.
Guys are going to combine cool technology.
I like that the team has the necessary roles, it helps to cover all aspects faced by the company.
Let's see what they get.
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