Posted on April 25, 2018
Skrumble Network is a secure, communication-centric blockchain, decentralized communication application and a communication layer for developers to add into any application. With no middle entity or centralized server host in between to censor, block or manipulate any data, Skrumble Network will enable open, global private communication and transactions that are truly community owned and operated.
Along with building a proprietary, secure blockchain, Skrumble will also build the first complete full spectrum decentralized communication application that will breakthrough traditional firewalls, enable reputation management while assuring user anonymity, guarantee content and data privacy delivered with features like messaging, calling, video, file sharing, and more. The Skrumble Network blockchain and application will also create opportunities for people to add decentralized communication elements into any ecosystem or platform.
The Skrumble Blockchain is a P2P network structure, in which nodes can communicate with each other through a hashed messaging protocol. In this structure, there are two different types of nodes: peer nodes and validating nodes. A peer node can broadcast, receive and transfer transactions or blocks, while a validating node can create blocks of data.
The Skrumble Network has its own native utility token, SKM. SKM offers a certain class of membership based on the number of tokens owned. These membership privileges will enable access to various features and actions on the Skrumble Network ecosystem. Initial usage will be free, and the token will serve as means of access to unlock premium features, membership levels or utilize various extra functionalities. Those features include video messaging between users from different countries, the ability to send files bigger than the maximum allowed and many more.
Their whitepaper is extensive and detailed. All the information about the token model and about how the different actors act within the platform is precise and easy to understand.
David Lifson – CEO
30+ years of developing successful ventures (4 multimillion dollar businesses sold). Responsible for the first prepaid phone cards technology (ITP), largest satellite dish company in Canada (General Satellite) & file transfer technology innovation (2SendIt.com).
Michael Dabydeen – Lead Developper
A vastly experienced Software Developer with excellent project management, problem solving, and analytical skills. Always produces a high quality of work and demonstrates superior interpersonal, communication and presentation
Eric Lifson – Co-founder, VP Marketing
Marketing professional with seven years of expertise developing strategic marketing initiatives for world-class FMCG, tech and retail brands including McDonald’s, General Mills and P&G. Created national brand positioning for the most successful product launch in McDonald’s Canada history, McCafé Beverages. Exposure to 35 countries around the world. Proponent of purpose driven marketing and embracing digital transformation.
Christine Guo – VP Corporate Development
6+ years of global financial management for leading technology and investment companies.
Key part of management team for prominent UMIWI technology company in Beijing (www.umiwi.com).
Exposure to both buy side and sell side analyst roles including Advisory Capital Group Canada and Canaccord Genuity Asia.
Vivi Herlick – VP of Operations
A highly respected information management leader with a proven track record in championing complex strategic initiatives. Superior ability to ensure stakeholder and customer satisfaction. Advanced analytical and problem-solving skills. Refined executive skill set including highly developed presentation capabilities.
The Skrumble Network team has been working together since 2014. They are very experienced in the space of enterprise communication. Their CEO has over 30 years of experience in the startup environment and they have a development team of 12 people.
Q3 2018: – Launch Beta Decentralized App Product
– Release Beta Network Version
Q4 2018: – Decentralized App Released
Q2 2019: – Release Open Communication Layer (API & SDK)
– Launch Skrumble Network Ecosystem
The token sale will start in April 2018.
Token type: ERC20
ICO Token Price: 1 SKM = 0.0314 USD (0.00006 ETH)
Hardcap: 12,800,000 USD (20 000 ETH)
Sold on pre-sale: no pre-sale
Total Tokens: 1,500,000,000 SKM
Available for Token Sale: 26%
Min/Max Personal Cap: n/a
Accepts: ETH, BTC, USD
Skrumble Network is airdropping 50 SKM tokens to anyone who joins them on Telegram. Participants can earn extra 20 SKM for each referral.
Skrumble Network Strengths
- Skrumble Network bypasses firewalls, allowing users anywhere on the globe to communicate with each other
- Skrumble Network offers its users privacy and anonymity
- They say their blockchain can currently process 500 transactions/second and they plan to scale it up to 1000 TPS
- They are backed by many renowned advisors and notable investment funds
- Skrumble Network will have to compete for market shares against industry giants like Facebook, WeChat and WhatsApp
- They don’t have a working product yet
- They have not announced their use of funds
The Skrumble team is experienced in the communication industry and have been working together since 2014. The founder is a repeat entrepreneur that has worked in many successful startups in the past. The fact that the core team doesn’t have experience in blockchain programming might indicate that they will have to rely on advisors on that front.
Token Model: 6.3/10
Their token model is pretty good as it incites users to hold tokens in order to unlock premium features instead of spending them. This will help keep the volatility of the token down. However, holding the token doesn’t grant users a voice in the governance of the network.
Token Distribution: 5.8/10
15% of all tokens will be given away as community rewards, which is an excellent way to ensure a widespread distribution. The Skrumble team will keep 20% of all tokens that will be vested over a 9 months period. The lockup period is too short for such a large amount of tokens.
State of the Project: 6/10
Skrumble does not have a live product yet as the beta version is scheduled to launch in Q3 2018. They do however have a clear roadmap that will allow future users and potential investors to see if they are on-track.
The messaging app market is huge and fast growing. It is however controlled by huge companies with loyal followers so gaining market shares in that market will be a challenge.
ICON score: 6.7/10
At ICON Partners, we find the idea of decentralizing messaging apps in order to give users privacy and security extremely interesting. However, users of such apps are usually very loyal, and it is very hard for a new app to gain market shares in this industry because of the importance of network effect. On the other hand, Skrumble Network does have a very experienced team that has worked in many startups, with the founder having over 30 years of experience in developing successful business ventures.
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.
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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.