
Cryptelo aims to provide an easy way for users to collaborate and work on documents in a manner that is secure by developing a client-based encryption platform. The organization will develop libraries for a variety of devices, which users can use as APIs for their applications/services. Connection to the Cryptelo platform can be done via a cloud service or a standalone Cryptelo server. CRL tokens are used in exchange for API access.
Curved Score
Overall Score
Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?
How appealing is the product? How good or necessary is it? Does it have a distinct edge?
Is it mass market or niche?
Are there many other similar solutions or is this one of just a few, or even one of a kind?
How innovative or inventive is the product, either conceptually or technologically?
The market for secure and distributed storage solutions is fairly competitive. However, where Cryptelo differs from its competition is in its encryption strategy. The service relies on client-based encryption so that, in theory, access is only provided to those than are authorized and even the company cannot gain unauthorized access. However, it should be noted that the encryption technique that Cryptelo uses is not based on blockchain technology. As a result, Cryptelo’s solution is fairly centralized. Cryptelo states that the service has already been implemented in their application, Cryptelo Drive. Cryptelo wishes to develop libraries that will allow users to use the service as an API for a variety of devices.
Is blockchain technology essential? Does it make the solution significantly different and better?
How disruptive is the introduction of blockchain technology into the product's market space?
Is the token essential or could it be done just as well or better with fiat or Bitcoin?
How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?
How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?
CRL is an ERC20 compliant token. It is used as a means of exchange for services provided by Cryptelo. It is stated that Cryptelo coins were created to generate more funds. The fundamental concept of the platform does not require the creation of the custom token. It should be noted that the encryption strategy that Cryptelo uses does not involve blockchain technology. In other words, the utilization of blockchain is not extended further than the creation/exchange of tokens. It is stated that the service will use “symmetric and asymmetric encryption”, and access is authorized through a key. Thus, the use of blockchain technology is not particularly innovative, as it is primarily a means of funding for the platform.
Does it cover the full scope of the problem and solution?
Is it easy enough to understand?
Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?
Does it contain a viable, comprehensive business plan?
Does it present a well thought out technological architecture? Does it address implementational challenges?
The whitepaper is moderate in length at 31 pages. There are multiple documents that accompany the whitepaper, containing further discussion of the technical aspects of the platform, the terms and conditions, and summaries of the whitepaper and the token model. The technology plan is presented in fairly high detail (the technical document is 7 pages in length and is provided in addition to the whitepaper). The business plan is presented in moderate detail, with market research and a discussion of use cases. However, details regarding the service fee structure are not provided in thorough detail, and how the organization plans to address the token’s price volatility is not clearly outlined. Overall the whitepaper and the accompanying documents are fairly thorough, but some important details of the platform should be discussed further.
Is there a concrete and practical development plan (vs. just a conceptual vision)?
Is the development plan realistic? Is it based on reasonable goals and timelines?
Is there a larger, long-term vision?
How available, operational, or trusted are the other systems or capabilities on which the project relies?
Where is the project now, relative to its vision and plans?
The span of the development roadmap is not clearly indicated with specific years and months, but rather described in terms of lengths of time (1 year, 1.5 years etc). Assuming that the roadmap presented in the whitepaper begins in 2018, it spans to 2020 and contains low levels of detail, with 7 milestones, most of which have to do with the development of libraries. The embedded goals within each milestone should be discussed further to provide more detail to the development roadmap. Overall, the roadmap is quite vague and seemingly noncommittal.
How much use is there for the token itself (regardless of its value as an investment vehicle)?
How valuable is the token as an investment vehicle or financial instrument?
Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?
How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?
What kind of legal documentation (reviews or agreements) and risk assessment are provided?
Documentation accompanying the whitepaper outlines the legal considerations of the platform and the token sale. The legal discussion is quite detailed and it is explicitly stated that CRL tokens are not to be considered securities. The language is professional. It is not explicitly stated whether Cryptelo will use KYC for their token sale and which countries are not permitted to participate.
Is the company already established? Has it raised funds before? Is it mature?
Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?
Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?
Does the amount of talent and skill in each area seem to fit the project requirements?
Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?
It is stated that the company was founded in 2014 and has received seed funding of over $1MM USD. The team of 16 individuals are listed in the Cryptelo website. Short descriptions are only provided for four of the team members but links to social media profiles are provided for most. The skill set of the team is geared towards technology as opposed to business. The blockchain architect is currently involved with a number of blockchain-related projects, which is beneficial from an experience standpoint, but commitment to the Cryptelo project is not assured.
Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?
Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?
Is fund distribution and allocation reasonable and justified?
Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?
Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?
The total number of CRL tokens is 500 million (30% is for public sale, 20% is for the presale, 25% is for the bounty program, and 25% is for the Cryptelo team). Vesting periods are clearly indicated in the whitepaper. The allocation of funds is described in moderate detail (45% is for R&D, 35% is for marketing and sales, 13% for operations, 2% for legal fees, and 5% for contingency). The soft cap is unspecified and the hard cap is 12,000 ETH, where 1 ETH = 12,500 CRL. The token sale takes place from March 3, 2018 to April 20, 2018.
The market for secure and distributed storage solutions is fairly competitive. However, where Cryptelo differs from its competition is in its encryption strategy. The service relies on client-based encryption so that, in theory, access is only provided to those than are authorized and even the company cannot gain unauthorized access. However, it should be noted that the encryption technique that Cryptelo uses is not based on blockchain technology. As a result, Cryptelo’s solution is fairly centralized. Cryptelo states that the service has already been implemented in their application, Cryptelo Drive. Cryptelo wishes to develop libraries that will allow users to use the service as an API for a variety of devices.
Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?
3.0How appealing is the product? How good or necessary is it? Does it have a distinct edge?
3.0Is it mass market or niche?
3.0Are there many other similar solutions or is this one of just a few, or even one of a kind?
3.0How innovative or inventive is the product, either conceptually or technologically?
2.0
CRL is an ERC20 compliant token. It is used as a means of exchange for services provided by Cryptelo. It is stated that Cryptelo coins were created to generate more funds. The fundamental concept of the platform does not require the creation of the custom token. It should be noted that the encryption strategy that Cryptelo uses does not involve blockchain technology. In other words, the utilization of blockchain is not extended further than the creation/exchange of tokens. It is stated that the service will use “symmetric and asymmetric encryption”, and access is authorized through a key. Thus, the use of blockchain technology is not particularly innovative, as it is primarily a means of funding for the platform.
Is blockchain technology essential? Does it make the solution significantly different and better?
1.0How disruptive is the introduction of blockchain technology into the product's market space?
1.0Is the token essential or could it be done just as well or better with fiat or Bitcoin?
1.0How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?
1.0How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?
1.0
The whitepaper is moderate in length at 31 pages. There are multiple documents that accompany the whitepaper, containing further discussion of the technical aspects of the platform, the terms and conditions, and summaries of the whitepaper and the token model. The technology plan is presented in fairly high detail (the technical document is 7 pages in length and is provided in addition to the whitepaper). The business plan is presented in moderate detail, with market research and a discussion of use cases. However, details regarding the service fee structure are not provided in thorough detail, and how the organization plans to address the token’s price volatility is not clearly outlined. Overall the whitepaper and the accompanying documents are fairly thorough, but some important details of the platform should be discussed further.
Does it cover the full scope of the problem and solution?
3.0Is it easy enough to understand?
3.0Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?
3.0Does it contain a viable, comprehensive business plan?
3.0Does it present a well thought out technological architecture? Does it address implementational challenges?
4.0
The span of the development roadmap is not clearly indicated with specific years and months, but rather described in terms of lengths of time (1 year, 1.5 years etc). Assuming that the roadmap presented in the whitepaper begins in 2018, it spans to 2020 and contains low levels of detail, with 7 milestones, most of which have to do with the development of libraries. The embedded goals within each milestone should be discussed further to provide more detail to the development roadmap. Overall, the roadmap is quite vague and seemingly noncommittal.
Is there a concrete and practical development plan (vs. just a conceptual vision)?
2.0Is the development plan realistic? Is it based on reasonable goals and timelines?
3.0Is there a larger, long-term vision?
2.0How available, operational, or trusted are the other systems or capabilities on which the project relies?
3.0Where is the project now, relative to its vision and plans?
2.0
Documentation accompanying the whitepaper outlines the legal considerations of the platform and the token sale. The legal discussion is quite detailed and it is explicitly stated that CRL tokens are not to be considered securities. The language is professional. It is not explicitly stated whether Cryptelo will use KYC for their token sale and which countries are not permitted to participate.
How much use is there for the token itself (regardless of its value as an investment vehicle)?
2.0How valuable is the token as an investment vehicle or financial instrument?
3.0Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?
1.0How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?
4.0What kind of legal documentation (reviews or agreements) and risk assessment are provided?
4.0
It is stated that the company was founded in 2014 and has received seed funding of over $1MM USD. The team of 16 individuals are listed in the Cryptelo website. Short descriptions are only provided for four of the team members but links to social media profiles are provided for most. The skill set of the team is geared towards technology as opposed to business. The blockchain architect is currently involved with a number of blockchain-related projects, which is beneficial from an experience standpoint, but commitment to the Cryptelo project is not assured.
Is the company already established? Has it raised funds before? Is it mature?
4.0Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?
4.0Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?
3.0Does the amount of talent and skill in each area seem to fit the project requirements?
4.0Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?
4.0
The total number of CRL tokens is 500 million (30% is for public sale, 20% is for the presale, 25% is for the bounty program, and 25% is for the Cryptelo team). Vesting periods are clearly indicated in the whitepaper. The allocation of funds is described in moderate detail (45% is for R&D, 35% is for marketing and sales, 13% for operations, 2% for legal fees, and 5% for contingency). The soft cap is unspecified and the hard cap is 12,000 ETH, where 1 ETH = 12,500 CRL. The token sale takes place from March 3, 2018 to April 20, 2018.
Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?
2.0Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?
1.0Is fund distribution and allocation reasonable and justified?
3.0Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?
3.0Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?
2.0