Posted on May 7, 2018
The Bezant blockchain is a service platform providing content developers and e-commerce merchants a disruptive way to sell to customers by allowing anyone to setup their own content or commerce store and send/receive payments from anywhere in the world using local payment methods.
Bezant’s blockchain platform consists of both a blockchain and a service platform that work together to provide Service partners (SPs) with a dynamic blockchain-based payment platform to create new services. Bezant is targeting SPs with significant user and subscriber traffic across many industries: game publishing, e-commerce, music and video streaming, communications, social networking, and media channels.
Two applications will be available on the Bezant platform at launch: the Jehmi wallet and the Jehmi Content Platform. The Jehmi Wallet is a payment wallet that end users will interface with and it will be powered by the Jehmi payment platform. Wallet users will be able to perform a large number of functions directly within the wallet UI. Jehmi Payment Platform is the back-end solution to the Jehmi Wallet. The Jehmi payment platform solves the key problems in digital payments faced by sellers: limited payment options and high fees. The Jehmi Payment Platform consists of two main products: Jehmi Pay and Jehmi Wallet, which work together to plug in and power the payment gateways for e-commerce and content stores.
Bezant’s native token, BZNT, will serve as the medium of exchange within the Bezant platform to pay for goods and services.
The Bezant whitepaper describes clearly and in detail how the platform works. Interactions between the different users of the platform are well explained and are easy to understand. It however lacks information concerning the token model and the different functionalities of BZNT.
Chan Joon Kim – Chief Executive Officer
As a respected veteran of the online game industry, Mr. Chan Joon, otherwise known as CJ, has an illustrious and commendable career of 19 years in global online and mobile games. CJ has held various executive positions, in addition to successfully running a boutique consultancy agency prior to Jehmi for global game publishers and developers. CJ’s combined experience of operations and development spans across investments, publishing, and operations. Under the leadership of CJ, his partner and management team follow a vision to become a leader in cross border commerce, specifically focusing on emerging markets. CJ mission is simple, Connect Jehmi, Connect the World!
Dae-sik Kim – Chief Cryptocurrency Officer
Dae-sik Kim is the founder and former CEO of Bithumb. Dae-sik has moved on from the day-today operations of Bithumb to work on product development of the Jehmi platform and Bezant protocol.
Steve Tay – Representative Director, Bezant Foundation Limited
Prior to joining Jehmi, Steve was a Regional Sales Manager for Acclivis, a company that provides Online games cloud hosting service in South East Asia market with more than 70 games titles hosted on the Games Cloud in this region (Indonesia, Singapore, Malaysia Thailand). These games include web browse game, client based game, and mobile games. Prior to Acclivis, Steve was a General Manager of Gamelabs, a German-based game developer and publisher focused on the European and Middle Eastern region; Steve reported directly to the company’s investors with full P&L ownership. Major responsibilities include formulating the company’s overall direction and driving operational planning for both the German and Malaysian offices.
Mark Yu – Chief Product Officer
Mark has more than 15 years of experience as a product manager in various areas of the Internet-based web and mobile services. He has experience in various areas of the Internet, including Internet portal services, game portal services, community services, instant messaging services, and e-commerce services. Most recently, Mark was a Senior Product Manager at Kakao Corp, where he was responsible for Kakao Talk service, Kakao API platform service, and Kakao Talk for Blackberry, being one of the lead managers on KakaoTalk global services. Prior to Kakao, Mark was a Manager at eBay Korea where he was responsible for Auction service, Auction web analytics, and Auction API services. Mark also worked at Nexon where he built a unified membership system for nexon.com, a game portal service, and laid the foundation for Nexon transform into a global game platform company.
Colin Lee – Chief Technology Officer
Prior to joining Jehmi, Colin was a Director at Kakao Corp. and the Project Lead for the company’s payment platform development. In this role, Colin was the project lead and architect for: Kakao Choco (virtual coin for digital goods payment), Kakao Bank Wallet, digital goods payment platform, Kakao Pay payment platform, Kakao commerce platform, et al. Prior to Kakao, Colin was a software developer at eBay Korea where he developed and operated the company’s e-commerce system, Rewards systems consisting of discount coupons, points, and virtual money.
Ray Cho – Chief Financial Officer
Ray has over 20 years of experience in financial investments including working at one of the leading Korean venture capital firms in Korea Investment Partners. His areas of expertise range from: principal investments, equities sales trading, fund management, and venture. Ray has had a strong focus on online and mobile game development and platform investments including Neople, and Webzen.
Julian Migura – Chief Business Officer
Julian helped to close and develop hundreds of partnerships with major gaming companies from around the globe. Julian began his gaming career as a Project Manager for MMOfacts (Galaxy-News) and then joined Bulgarian start-up XS Software where he led the international expansion across Western Europe and Latin America. He created and marketed the brand madmoo and Madmoo.com portal, which attracted over 4 million players up until April 2010. In 2010, Julian founded his consulting agency Jayanda, which later on emerged into OnLegends, the first global licensing broker for games. Julian then went on to Brazil’s UOL group as the Director of International Business Development and became a partner of the gaming units in early 2012.
Jeyce Jung – Lead Developer
Prior to joining Jehmi, Jeyce was Lead Software Developer at Kakao Pay in charge of the Fraud Protection System and DevOps. Jeyce joined Kakao Pay from Kakao Corp. where he was a Senior Software Developer responsible for the commerce platform. Jeyce has also worked at NHN Entertainment as a Developer working on the company’s commerce platform focused on digital content and entertainment. Jeyce started his career at Naver Corp as a Developer working on both the Ad display and game publishing platforms.
The token sale lasts from May 3rd to May 31st.
Token type: ERC20
ICO Token Price: 1 BZNT = 0.1000 USD
Hardcap: 40,000,000 USD
Sold on pre-sale: 16,800,000 USD
Total Tokens: 1,000,000,000 BZNT
Available for Token Sale: 50%
Use of funds
- Bezant eliminates the high Store fees (30%) that traditional app stores or e-commerce platforms usually charge
- Merchant are paid instantly on the Bezant platform
- Their Chief Cryptocurrency Officer is the founder of Bithumb, the biggest Korean crypto exchange
- The token is only used as a means of payment which will drive its price down in the long run due to high volatility
- Bezant depends highly on content creators and merchant adopting their platform in order to attract a large userbase
The team behind Bezant is impressive. They are very experienced in online payments, programming and entrepreneurship. They also have many solid advisors and partners backing them.
Token Model: 2/10
The Bezant token model is weak because BZNT is only used to pay for goods and services on the platform. Without any incentive for users to hold the token, this will drive the value of the token down in the long run because of its high volatility.
Token Distribution: 3/10
Their token distribution is not widespread enough. They didn’t give tokens as community rewards (airdrop, bounty campaign, etc.) so their community is pretty small. This means that the initial distribution will be more centralized than it should.
State of the Project: 8/10
The Bezant blockchain is scheduled to launch in Q3 2018. They have a detailed roadmap and are very transparent with their community about updates.
The online payment market is fast growing and can definitely benefit from blockchain technology. However, Bezant will have to compete against already established companies like eBay and Amazon for market shares.
ICON score: 5.9/10
At Icon Partners, we think that Bezant offers an interesting product with actual real world uses. Their team is very impressive, so we have no doubt that they will bring their project to fruition. However, their token model is weak and doesn’t give their users any incentive to hold BZNT which will greatly increase the token’s volatility and always keep a downward pressure on the token’s value.
We encourage you to do your own research and come to your own conclusions when investing in an ICO. All the information in this review are either facts or ICON Partners’ opinions and should not be used as investment advice.
P.S. Sign here for our weekly ICO review!
This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.