What does the company/project do?
Blockcloud is a new holistic blockchain platform designed for the Internet of Things (IoT). Blockcloud is targeting emerging technology sectors such as smart homes, the internet of vehicles, smart health and the sharing economy.
Blockcloud’s objective is to build a blockchain-based advanced TCP/IP (Transmission Control Protocol/Internet Protocol) architecture. The TCP/IP is the set of communications protocols used on the Internet. Blockcloud uses Service-centric Networking (SCN) and is designed for mobility, scalability and security.
How advanced is the project?
Blockcloud claims to have completed the infrastructure design, the conceptual verification and the design of the CoDAG (Compacted Directed Acyclic Graph) algorithm that it plans to use and the design and conceptual verification of its Proof of Service consensus mechanism. Additionally first partnerships with industry associations have been achieved.
The team successfully completed a private token sale that came along with a global roadshow and meetups. At the same time the team is trying to build a developer community around the Blockcloud ecosystem. The public token sale is expected to be completed in Q3 2018.
What are the tokens used for and how can the token value appreciate?
Tokens on the Blockcloud platform are called BLOC. Service providers on the Blockcloud platform are rewarded with BLOC tokens. Prices are determined by Continuous Double Auctions (CDAs), a price finding mechanism particularly suited for marketplaces. Total market capitalization of BLOC tokens will increase with the usage of the Blockcloud platform.
Team & Advisors
The Blockcloud core team consists of twelve members. The team is supported by a technical advisor board consisting of 15 members and a business advisor board consisting of three members.
Zhongxing Ming is the CEO and founder of Blockcloud. He holds a PhD from Tsinghua University and published a number of papers on Service-centric Networking.
Shu Yang is the Chairman of Blockclould and has also a scientific and research background.
Dai Pan is the COO and a co-founder of Blockcloud. He is an urban intelligence expert.
The extended core team has a strong academic background with team members from diverse internally recognized universities that hold various patents in the field. The team counts as well with significant professional experience in companies such as Alibaba and Huawei.
The technical advisor board combines people from research, internet standards and corporate backgrounds. The business advisor board includes people from Neo Global Capital, economic advisors of the Obama administration and cryptocurrency investors.
Blockcloud uses a proof-of-service consensus mechanism. The Blockcloud blockchain consists of four layers. The lowest layer is the transaction layer, where network transactions are recorded in a global ledger. The second layer is the servicechain layer, where Blockcloud operations are defined. In the subsequent routing layer requests are routed. The highest layer is the service layer.
Blockcloud’s goal is to provide a marketplace for IoT services, where anyone can publish services and subscribe to a service. The team already has a successful track record of connecting IoT devices with users.
Strength and Opportunities
Blockcloud has a huge private investor base that includes among others Genesis Capital, OK Blockchain Capital, Kucoin, Neo Global Capital and ICO Drops. This high number of credible investors is an indicator for the legitimacy of the project.
The Internet of Things is a trending emerging technology topic with a potentially huge market. The strong angels with Chinese institutions provide a good starting point for winning a large part of the Chinese IoT market.
Weaknesses and Threats
The design and concept of the blockchain that Blockcloud presents is novel. Despite the completed conceptual verification it is unclear how well the blockchain design and the consensus mechanism will work under real world circumstances. The novelty of the approach makes it also difficult to estimate development durations and may lead to delays.
The large private investor base behind Blockcloud points towards a strong ICO performance. The team is convincing and very skilled, first milestones have been successfully completed. As with most blockchain projects in the long run there remain considerable risks associated with Blockckloud, such as market adoption of its technology, inability to implement the roadmap or unforeseen technical problems.