Project overview

The Blockchain Terminal (“BCT”) delivers a powerful set of tools and services to the wealth management industry, making use of blockchain technology to deliver cutting edge applications that have been created by a diverse community of developers, while also enabling real-time compliance enforcement and ad hoc audits. The BCT platform provides a robust layer of security and functionality to familiar tools, and capabilities that advance the current strategies of traditional investment managers, and also supports the complexities of cryptocurrency markets.

The central distinguishing feature of BCT is a hybrid ledger that integrates both a private and a public, permissioned blockchain to enable its core services. This hybrid ledger is anchored to the broader Ethereum blockchain, which can be freely used and addressed by BCT applications, a set of modular productivity tools and services that are supported by the Blockchain Terminal Foundation. Developers on this platform have easy access to production-tested infrastructure, with embedded compliance and broader distribution enabled by BCT’s comprehensive business strategy. The BCT is a high-availability network device that securely journals compliance entries for a hedge fund’s Chief Compliance Officer, and is also a desktop terminal for use by hedge fund traders, analysts, portfolio managers, and operations staff.

 

Token model

Two BCT tokens co-exist in the BCT ecosystem. The native BCT token powers the BCT ledger; and an ERC20-compliant BCT token created in the public Ethereum network and available from time of launch represents subscription and entitlement to the services provided by the native BCT Token. Together, the two tokens secure integrity and provide incentive for the correct functioning of the BCT platform. The native BCT token will be issued by the Foundation through a subscription smart contract that will credit the public ERC20 BCT tokens with native BCT tokens one-to-one. The Foundation will be the beneficiary of this smart contract and will hold it in escrow until the native BCT tokens are exhausted. Participants in the BCT community use the BCT token to: request or commit domain objects and ontologies to the BCT Ledger, request or commit a PoE to the BCT ledger, access applications on the BCT platform (either one-time use or subscription) and enable core services of the BCT platform and capture fees and commissions for the Foundation.

 

Whitepaper

The Blockchain Terminal whitepaper is extensive and very detailed. Some parts are however unnecessarily complicated due to the use of financial terms and buzz words. For example: “Expanded operational performance of existing systems made possible by BCT applications that have demonstrated superior utility and painless integration with the underlying compliance framework.”

 

Blockchain Terminal Team

Bob Bonomo – President
Bob Bonomo has over 30 years of Wall Street experience and is the former Chief Information Officer of two of the largest asset management firms in the United States. Bob has managed front and back offices at OppenheimerFunds ($250 billion in assets under management) and AllianceBernstein ($500 billion in asset under management). He entered in the crypto/blockchain space in early 2013 consulting for Barry Silbert’s Second Market and has remained a leader in the blockchain community.

Alexander Bogicevic. PHD – COO
Alexander Bogicevic has over 15 years of experience as an engineering director and technology manager with Ford and Eaton, where he managed a team of over 100 engineers.

Ed Sappin – CFO
Ed Sappin is a widely recognized finance, business development, and strategy leader, who has held senior level positions in Fortune 50 corporations, and venture capital firms.

Bernd Petak – Dev. Lead
Bernd Petak has been leading development teams in the Financial Services Industry for decades. He focuses heavily on User Experience and ensuring our platform’s ease of use.

Daniel Araya. PHD – VP Gov. Policy
Daniel Araya has published several books relating to public policy and regulatory compliance. He has been a senior researcher and policy analyst for various government agencies.

Andrew Pankov. PHD – CTO
Andrew Pankov is a lead developer and system architect with a PhD in Computer Science. Andrew worked with Yahoo as a social networking and cloud computing specialist.

Nick Ghiba. PHD – Economist
Nick Ghiba has authored and co-authored 3 books on Finance, Economics, and Statistics. Along with his PhD in Finance, Nick also holds a Master’s Degree in Banks and Financial Markets, and a Bachelor’s Degree in Finance and Banks.

David Israel – CSO
David Israel is a problem solver, leader, and expert in state-of-the-art technology infrastructure for organizations of scale. He has 30+ years of experience engineering and implementing network and security tools to business innovators, and spearheaded help-desk and risk-reduction operations across the globe.

Dean Pannell – EVP
Dean Pannell is a global consultant with expertise in emerging technologies and management of multi-million and billion-dollar projects. His innovation-focused advisement spans 20 years and straddles engineering and creative industries.

Adnan Ali – Founder
Adnan Ali has over 20 years of high-tech experience. As the CIO of InteraXon, Inc., (now MUSE), Adnan was responsible for establishing the corporate infrastructure and programming teams necessary to develop ground-breaking technological advances.

 

The Blockchain Terminal team is extremely well versed in the financial industry. Most of them are also repeat entrepreneur which shows that they know how to run a startup. They also have in-house developers that are experienced in blockchain technology which is always a plus.

 

Roadmap

Q1 2018: ALPHA, Product intends to provide users with tools to improve Execution, Market Data/ Analytics, News, Aggregated Chat, Compliance

Q2 2018: BETA, 200 blockchain terminals to be shipped to Hedge funds and other institutions

Q3 2018: Third Party Applications will be integrated within the BCT ecosystem, increasing the possibilities of the platform. Retail production

Q4 2018: Institutional production

 

ICO terms

The token sale started on April 1st.

Ticker: BCT
Token type: ERC20
ICO Token Price: 1 OMIX = 0.0562 USD (0.00014 ETH)
Hardcap: 51,500,000 USD
Sold in pre-sale: 21,500,000 USD
Total Tokens: 900,000,000 BCT
Available for Token Sale: 85.6%
Min/Max Personal Cap: no Min
Accepts: ETH

Token distribution

blockchain terminal distribution

Community hype

Telegram: 31,340 members
Twitter: 18,202 followers
Reddit: 86 subscribers

 

Strengths

  • BCT makes it easier for traders to make decisions by giving them access to information from a wide variety of sources all in one place.
  • The BCT compliance framework ensures that all traders follow their Chief Compliance Officer’s regulations.
  • The Blockchain Terminal is the first of its kind for the cryptocurrency market

 

Red flags

  • What BCT offers doesn’t really require blockchain technology
  • They have not released how they plan to use the funds they raise in the ICO
  • The BCT token is only used as a mean of payment within the ecosystem
  • Large financial data players like Bloomberg and Reuters will eventually develop their own terminals when the crypto market will become big enough

Ratings

Team: 9/10
The team at Blockchain Terminal is very experienced in the finance industry and in entrepreneurship. They have in-house blockchain specialists as well as a many experienced advisors.

Token Model: 2.75/10
The fact that the BCT token will only be used as a means of payment between the different actors on the platform is not enough to drive adoption. Also, the nature of the platform gives a high velocity to the token, which will push its value downwards in the long run.

Token Distribution: 3.67/10
Their token distribution is poor because even though they intend to sell 85.6% of all tokens in the token sale, they do not offer any community rewards. This will make token ownership quite centralized within the BCT ecosystem.

State of the Project: 4.33/10
Their mainnet is not up yet and the beta release is scheduled for Q2 2018. Their roadmap also only covers the rest of 2018 and doesn’t really cover future development updates.

Market: 4.2/10
The financial data market is substantial, but it’s not a fast-growing industry. It is already saturated by large players like Bloomberg and Reuters. Even though they do not offer cryptocurrency analysis yet, it’s only a matter of time before they do and it will be hard for Blockchain Terminal to compete with them.

ICON score: 4.79/10

 

Conclusion

At ICON Partners, we find the idea behind this project to be interesting, but it’s only a matter of time before financial data giants like Bloomberg and Reuters enter the cryptocurrency market. The Blockchain Terminal has many real-world use cases, but its token model is not compelling enough to make users choose them over their competitors. They do however have a very experienced team that has worked in many startup, which is reassuring.

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.

 

Links

Website
Whitepaper
Reddit
Twitter
Telegram

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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.