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Ratings Phoneum

Mobile-Only Cryptocurrency

Phoneum is a decentralized cryptocurrency, designed to deliver a simplified user experience and platform that enables all users, regardless of technical aptitude, to fully participate in the new cryptocurrency economy. Phoneum 's mission is to provide equality to all by making mining available to everyone.

2.8
21 20 expert ratings
Benchy 4.5
KYC
Experts
2.7
2.2
2.7
Review: coming soon PRO
~$2,400,000
value of tokens sold in ICO
Ended
Token
PHM
Type
Price in ICO
0.0100 USD
Whitelist/KYC
KYC
Restricted areas
USA, China, Canada, Taiwan
preICO start
27th Jun 2018
preICO end
10th Jul 2018
ICO start
30th Jul 2018
ICO end
31st Mar 2019
Visit ICO website
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Changelly

Ratings

All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
Igor Karavaev
Blockchain Enthusiast and Advisor
Rated on Jul 27, 2018
Modified on Jul 27, 2018
2
1
1
6%

I think the team is too technical and too localised (checked Linkedin profiles). The advisor board also does not look very helpful in this case. Altogether they lack business/fundraising experience. The whitepaper left the same impression: no competitive analysis to prove they have a good strategy; business model with no numbers (page 26); token economics chapter has just numbers about the token sale and not about projected economics of their token and so on.

+7Agree
+4
-3Disagree
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Jeremy Khoo
Group CEO | Blockchain Entrepreneur | VeChain ICO Partner | Fund Partner | Exchange Founder | Singapore
Rated on Aug 1, 2018
3
4
5
6%

I don't actually see whats wrong with this product. It makes sense, although commercial viability is called into question if you are held hostage by the app stores.

+4Agree
+1
-3Disagree
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Tinh Tran
ICO Advisor | ICO Communications Expert
Rated on Jul 31, 2018
2
2
3
5%

Team is localized so it limits the product adoption worldwide and then it does not guarantee ROI for investors. This should be improved.

Vision is not new or unique as I have seen few of them that allow mobile mining. E.g. Electroneum as a typical example. However, this idea is not convincing as I can't use my smartphones for mining which can reduce the life cycle of the phone while its benefits can't cover the loss. Further, when you are using your phone for business, you can just use it for mining at the same time.

Last but not least, it is a trade off and it is not easy for wide adoption of the idea if the tokens are not backed with a strong business. Good luck

+1Agree
-4
-5Disagree
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Nozomu Nakazato
Blockchain consultant
Rated on Jul 30, 2018
3
2
3
5%

It is not a novel idea, but a project with hope.
Difference between too much huge soft cap and hard cap. Why can we make this difference?
If the difference is large like this, I think that you should show stepwise caps and their respective developable areas.
I think the team is nice.

+14Agree
+12
-2Disagree
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Mofassair Hossain
CEO and Founder Perhalic, ICO Advisor, Investor, PR and Marketing Expert
Rated on Jul 29, 2018
2
1
1
5%

About Team :

team have good knowledge in IT industry but see lack of knowledge in fundraising. also team is very localized also Advisory Board too.

About Vison:

I read the whole Whitepaper and saw lack of information about business plan also Financial Analysis and find few words about Revenue stream. Survive in this Market without Unique Technology is really hard and i found no innovation in this project. its like mine your currency with mobile phone. See no unique usecase of Blockchain. Without Technology you cant survive also There are some others with same vision so I dont find any reason to Invest in this ICO. As Ico Investment is risky will not suggest anyone to Invest.

+2Agree
-4
-6Disagree
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Karnika Yashwant
ICO Marketing Expert | Launch Strategist | Global Branding and Fundraising Master
Rated on Jul 30, 2018
3
2
2
5%

Advisory team does not really have a solid experience in the crypto. I do see 2 with past experience, but that is not going to be enough. And the main team? Well, not experienced in crypto.

Milestones aren't clearly outlined for what's to come after token sale. That is precisely why the milestone section is there.

KYC is approved, thats a plus.

+2Agree
0
-2Disagree
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Brian Condenanza
ICO and IEO Advisor | TEDx Speaker | Cryptopreneur | ICOBench Expert | Revista Bitcoin Editor | Blockchain and Cryptocurrency Researcher
Rated on Jul 30, 2018
Modified on Jul 30, 2018
5
3
4
5%

Very interesting concept, I would love to see mining incorporated as a mobile app. Experienced team, I would like to see how the concept does in practice. Good luck team!

+2Agree
+1
-1Disagree
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Daryl Naidoo
Founder-Promethean Dynamics |Blockchain Advisory Council |Alliance of Blockchain Professionals |Blockchain Association of Africa |Bitnation Ambassador
Rated on Feb 1, 2019
2
2
2
5%

The folks at Electroneum have tried doing this for some time and they eventually moved over to a cloud mining solution because they simply couldn't get the phone mining application to work. Looking at the background of the team at Phoneum I'm not convinced that they would be able to pull it off. The Whitepaper could have been a lot more detailed as well.

Agree
0
Disagree
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Graham Doggart
Strategic Advisor, Founder of AuBit
Rated on Jul 30, 2018
4
2
3
5%

Good team applying themselves to an interesting area, mobile device mining. I am not sure of the long term benefits of the token economy this being more of a educational offering in the early times of the space.

+2Agree
+2
Disagree
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Paul Cliffe
ICO advisor|Crypto-asset and ICO investor| Libertarian|CEO of Block Venture Project
Rated on Jul 27, 2018
3
4
5
5%

Team - some good developer experience in the core team, but a confusing set up for a corporate enterprise (a little confused as to where the leadership structure exists). Seems to lack any management or leadership experience. Some advisors seem a little misplaced for the project.

Vision - on first impressions, I like this idea. Democratising crypto-mining for the smartphone generation (c.70% smartphone ownership in developing economies). The WP could be better explained in my opinion. The project may have come up with a way to create a worldwide, decentralised ledger by 2025 (as mobile device memory increases) but they appear to shy away from this project potentially solving many of the issues current attempts to decentralise are experiencing (miners creating oligopolies, scalability, political pressure from different mining factions etc). If the WP focussed here, it would help to show the USP of this project in a better light.

Product - already up and running in beta, the MVP is definitely defined. Expansion of merchant services will help to underpin the reasons for mining.

I find this project quite interesting. I'd like to see a more detailed roadmap and a different angle for the WP.

Good luck to the team for implementing this project. It could change the face of Cryptocurrency mining and usage as we know it over the next few years.

+6Agree
+6
Disagree
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Irwin Chee
ICO Advisor | Blockchain Enthusiast | Venture Capitalist
Rated on Dec 24, 2018
2
3
2
5%

There seems to be a huge discrepancy between the softcap and hardcap with not much reasoning to that difference in values. Team could get more advisors with more industry expertise in fundraising and business to make the team more holistic as they do have a lot of technical expertise.

Agree
0
Disagree
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Suzat Fernandes
CFO & Co-Founder
Rated on Aug 1, 2018
3
4
5
5%

Phoneum features experienced and knowledgable teammates. Though it seems that they lack experience in business development and fundraising.

The company’s whitepaper does not provide detialed information on business plans.

There are other platforms that share a similar vision as Phoneum. This may lead to increased competition from the start.

Still I’d like to give them credit as I liked the overall concept. The use of mobile phones has grown exponentially over the past decade and a large number of people use their phones more than their computers. This platform can enable smartphone users to earn coins through a portable medium.

The project is already in beta phase, this means that anyone with a smartphone can try out this platform.

+6Agree
+5
-1Disagree
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Dennis Oosting
Founder of Serendipity Blockchain Solutions
Rated on Aug 26, 2018
2
1
1
4%

Phoneum is a mobile application, based on cryptocurrency mining. With competitors in this space (e.g. Electroneum) and with the lack of experience of the team I feel it will be hard for the team behind Phoneum to get the product to the people. Important information is missing such as marketing strategies, business models and more. Will be hard to become successful.

Agree
0
Disagree
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Yuichiro Okazoe
Yuichiro Okazoe
Rated on Nov 12, 2018
3
2
3
4%

The difference between soft cap and hard cap is large, and we want to know how project direction changes according to financing result.
Probably, if fund procurement is close to soft cap, I think that something can not be realized.

+8Agree
+8
Disagree
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John Papadopoulos
Crypto-currency enthusiast, Miner, ICO analyst, Angel investor, ICO investor,Strategist
Rated on Jul 28, 2018
Modified on Jul 31, 2018
2
1
1
4%

Mining a token with my smart phone. Sounds great! But is there any utility for this token? Probably not. Is there any reason for someone to have a need for this token? Does it serve something?

+3Agree
-2
-5Disagree
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Lief Eric Malone
IT Pro, Technologist, Consultant
Rated on Jul 30, 2018
2
1
1
3%

Mobile mining is a dead-end with Apple likely cracking down and various Android manufacturers unlikely to hop on. I am concerned with the e-mail addresses as wallet addresses concept as well as the "no explorer, but everything is backed-up on the cloud" concept. Proof-of-Work -> Proof-of-Time could likely be exploited. Also, the project name is really unfortunate... Phoneum = Phoney.

Agree
-3
-3Disagree
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Stephan De Haes
ICO Advisor, Community leader and COO/Co-founder Krypt.ly
Rated on Aug 21, 2018
3
2
3
3%

KYC approved, but no need for own token. 19.000.000 USD between soft and hard cap is very high,which looks like money grabbing... Only 11% of tokens getting sold in the sale makes this a very risky investment for a concept that is reliant on app stores and risk for cell phones being used for something they are not made for.

Agree
0
Disagree
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Jun Ahn
Advisor | Consultant | PR and Communications | Data Analyst
Rated on Aug 1, 2018
Modified on Aug 27, 2018
3
2
4
3%

The team is comprised of experienced developers, but seems more to be a project than that of an actual company business. The advisory team is questionable as well.

Vision-wise, mining on a mobile isn't a unique idea, but it does try to provide mining available to everyone for market adoption of cryptocurrency.
However, Phoneum's visions till seems underdeveloped.

Product-wise, the MVP works without much complaints.

Agree
-1
-1Disagree
Report
Phil Millo
Blockchain Expert | Family Office Owner | Entrepreneur | ICO Advisor | Global Speaker
Rated on Jul 28, 2018
3
3
4
2%

VISION: Hardly a new vision, and I suspect there will be many rushing into this space. Mid-marks because, well, there's nothing wrong with it, but to score higher I would need to see more market research, and an analysis of market positioning and how such a position might be defended. 3/3

TEAM: The team looks suitable strong from a technical point of view, but is probably light on individuals who can take charge of developing and implementing a go to market strategy. It's a localised team but, for software, that is not particularly a drawback. 3/3

PRODUCT: It seems that there is an Android Beta and although I can't test that (I run iOS) I can see no evidence of major complaint. Under the circumstances, it seems appropriate to give 1 over mid-marks. 4/5

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

+2Agree
0
-2Disagree
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Harry Tucker
Business Manager - HiveEx
Rated on Jul 31, 2018
2
3
1
1%

The team has basic tech background, but not much all too specific to what they're trying to build.

I like the idea of mining on a phone, but what actual value does this currency have that would make someone want to mine it?

Plus the timeline is so vague and means pretty much nothing. You will make crypto mainstream by Q3 2019? No development goals?

It's a no from me.

Agree
-2
-2Disagree
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Benchy
ICO analyzer bot
4.5
13%

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.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

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2 members invited
Ivan Likov
Passed
Konstantin Iliev
Passed
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