The Letsfair team has conceived a new concept to obtain investments, called NoICO. In summary, it is a way to make sure the value of the tokens is aligned with the company’s real value.
The free market allows the adoption of technologies that cause disruption even in its own kind of economic relations. An example of this is cryptocurrencies, which use Blockchain technology, and promises to be the future of money and means of payment. Another example is shared-economy applications, also called "Uberization", which are profoundly altering the trust-building model among unknown people. Trust is the currency in the economy of reputation. In this scenario emerges Letsfair, a platform that will use Blockchain to deliver a user-friendly technology infrastructure, aimed at businesses of all natures, for both classical and shared-economy commerce. It will address critical privacy issues for digital identities. Create an interoperable multidimensional reputation system between different businesses. Facilitate consensus among people in the division of labor and income. Besides allowing the issue of certificates of digital ownership and make negotiations for trade transactions easy.
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Direct Marketing Manager,ICO produce Rated on Nov 9, 2018 Modified on Nov 9, 2018
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18%
Information for evaluating this project is overwhelmingly small.
You should finish KYC quickly and enrich the information.
If the information is updated, I will do the proper evaluation.
Co-Founder at Block Estates, STO Consultant Rated on Jun 26, 2018 Modified on Jun 26, 2018
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12%
Small team, which is also and on odd product, that I can't buy into. Don't see much use for this on blockchain. It doesn't offer a real strategy or isn't to clear on where they want to be.
CEO and Co-Founder of BitcoinerX.com Rated on Aug 18, 2018
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7%
I have to be honest. This one left me scratching my head. Is it a freelance marketplace? Is it an application development platform? Is it an app store? Is it all of the above? I see elements of all three on the website and in the whitepaper. I appreciate the detail that the team went into with the whitepaper, but including several examples of use cases on their platform would have been so much more helpful in understanding the project.
If I might make one suggestion to the team - perhaps publish a one-pager or have two whitepapers (one for the technical aspect and one for the business / use case aspect). It would make it easier for potential investors (especially those with little technical knowledge regarding blockchain) to understand what you are trying to accomplish with Letsfair.
The team seems to have a significant amount of general technical and software development experience, but I am curious to know how much of that is blockchain related. The size of the team does concern me. I understand not wanting to waste resources, but I can't help but think that having a team of just four people for a project like this is stretching things a little too thin. Of bigger concern is the lack of KYC. If that process had been completed, my rating in that area would have been higher.
The 'NoICO' model that they are touting sounds gimmicky. Unless there is something I am missing, the only difference between it and a traditional ICO is that the NoICO model would present the token sale in rounds over a period of time (5 years, according to the blog post and smart contract). There have been other ICOs that have had multi-round token sales - and I'm not talking about just pre-sale and main sale - so what makes this different?
Weak team, no KYC. Relatively low raise from what I see, which isn't bad but I don't see the need for this being a blockchain product. Roadmap seems odd with the Letsfair.com development 2019-2023. Seems very slow when it went form idea in 2014 then took Q2 2017 for them to create a whitepaper.
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