Basic Rating

  • Shping

  • Shping is a global shopper-marketing and brand protection platform that enables business to reward shoppers with cryptocurrency (Shping Coin) for their attention, actions and choices while they shop.
  • 3.1

Rating Insights

Shping is a platform created by Authenticateit Pty Ltd (Authenticateit) that aims to revolutionize the shopping experience by making it smarter, safer, and more rewarding, by integrating blockchain technology. Core to the Shping Platform is the Global Product Database, which will benefit companies by supplying valuable information about their customers including behavior and engagement analytics. Consumers will benefit from having the ability to scan products using the Shping app, and gain quick access to reviews, certifications, warranty specifications, and other information that would assist them with making more informed purchases. Companies and brands will be able to use Shping to communicate directly with consumers and allow them to be rewarded for engagement, rather than paying media outlets for marketing campaigns.

Category Rating

Click any score to view its breakdown and category insights
3.4
Product

Product

Shping wishes to revolutionize the retail industry, an ambitious goal with a vast target user base. However, Shping will face many competitors that are actively attempting to dominate this market. Shping wishes to integrate multiple aspects of the shopping experience and incorporate them into one platform (authentication, traceability of products, consumers data collection, and brand/consumer engagement). Few projects encompass as many aspects of the shopping experience as Shping; however, the company will face competitors with a more narrow focus. For example, some organizations, such as WABI, are currently developing a traceability mechanism for consumers using blockchain technology.

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.
2.6
Use of Blockchain

Use of Blockchain

SHPING follows the ERC20 token protocol. There is a potential for disruption in the retail market industry, as the overall shopping experience for the average consumer has been stagnant for several years and has yet to see revolutionary change. Although the platform itself has potential, there is not a significant need for a custom token. The token acts mostly as an investment towards the Shping Platform. For brands and companies wishing to use the Shping Platform to engage with consumers, SHPING will be used in exchange for services on the platform, such as running campaigns using the Shping Marketing Module. Consumers will be able to be rewarded with SHPING token by writing reviews or comments, taking pictures, and by simply engaging with brands. It should be noted that the whitepaper states that “neither Authenticateit nor Shping Co makes any warranties as to whether the Shping coin may be listed on any cryptocurrency exchange”. Although this statement may simply act as a precautionary measure and risk aversion strategy for the organization, the value proposition of the token will be significantly diminished if this is the case, especially from the consumer perspective.

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.
4.2
Whitepaper

Whitepaper

The Shping whitepaper is relatively comprehensive, and has a fair balance between discussing the benefits of the platform for stakeholders and the value proposition and technological details for investors. It is easy to read and not obscured by technical jargon. The whitepaper breaks down the value proposition of the token and the platform from the perspective of the consumer, brands, retailers, and the industry as a whole. Overall the whitepaper is well balanced in terms of comprehensiveness and readability.

Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.
3.0
Roadmap

Roadmap

The roadmap presented in the Shping whitepaper is focused on business-related milestones as opposed to technological goals. This is understandable considering the biggest challenge for Shping is widespread adoption and not necessarily any particular technological obstacle. Currently, Shping has four offices located in Melbourne, Singapore, Beijing and Moscow. Further international expansion is planned from Q1 2018 through Q1 2010. The beta version of the Shping Platform was released on June 30th, 2017. Currently, Shping is already generating revenue (fiscal value is not disclosed in the whitepaper) and 24 brand partners. The Shping app is currently available on IOS and Android devices.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.
2.6
Compliance

Compliance

It is noticeable that Shping uses an icon (the letter “s” imprinted on a shopping bag) on its website and whitepaper, which bears a stark resemblance to the Shopify logo. Due to the significant overlap of the two organizations’ target user base demographic, Shping may be at risk of trademark infringement. For the development of the Shping database, the team intends to rely on validated data sources such as the GS1 and partner with Everledger (a digital immutable global ledger that tracks high value assets). The token has intrinsic value , as it is used by brands/companies in order to utilize services on the Shping platform. However, value to consumers will be dependent on whether the SHPING token can be used on cryptocurrency exchanges (which is not a guarantee according to the Shping whitepaper).

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.
3.6
Company and Team

Company and Team

The Shping team, comprised of 15 to 20 individuals, has a fair balance between business and technology oriented professionals. Their development team has seemingly proficient developers, however, few individuals have had experience with blockchain technology and smart contracts outside of their experience working with Shping. There seems to be an intention to include links to all of the team members LinkedIn accounts, as there is a icon in each of the profiles, but the icons are not clickable. A manual search of a small sample size, however, shows that members can be found on LinkedIn and their professional experience matches up with the descriptions written in the whitepaper.

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

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?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.
2.2
Token Sale

Token Sale

The total token supply is 10 billion tokens: 50% available during the token sale, 1% for bounties, 5% for the advisers, 2% for the team, and 42% for the Shping App Incentive Reserve (which is used for expansion and adoption of the platform). Unsold tokens during the crowdsale will be added to the Reserve. The minimum token purchase is 1000, where the initial rate is 1 SHPING token = $0.01 USD. Although there was a hardcap specified for the presale ($3MM USD), there is neither a hardcap nor a softcap for the crowdsale. The crowdsale begins on February 22, 2018 and ends on March 23, 2018.

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

1.0
N/A
1 - Very greedy (e.g. uncapped).
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

Product

Shping wishes to revolutionize the retail industry, an ambitious goal with a vast target user base. However, Shping will face many competitors that are actively attempting to dominate this market. Shping wishes to integrate multiple aspects of the shopping experience and incorporate them into one platform (authentication, traceability of products, consumers data collection, and brand/consumer engagement). Few projects encompass as many aspects of the shopping experience as Shping; however, the company will face competitors with a more narrow focus. For example, some organizations, such as WABI, are currently developing a traceability mechanism for consumers using blockchain technology.

Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

4.0
N/A
4 - Beta or initial rollout.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

3.0
N/A
3 - Interesting.
Target User Base

Is it mass market or niche?

5.0
N/A
5 - General audience / mass market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

2.0
N/A
2 - Quite a few / somewhat better competitors.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

3.0
N/A
3 - Partial, a novel approach or aspect.

Use of Blockchain

SHPING follows the ERC20 token protocol. There is a potential for disruption in the retail market industry, as the overall shopping experience for the average consumer has been stagnant for several years and has yet to see revolutionary change. Although the platform itself has potential, there is not a significant need for a custom token. The token acts mostly as an investment towards the Shping Platform. For brands and companies wishing to use the Shping Platform to engage with consumers, SHPING will be used in exchange for services on the platform, such as running campaigns using the Shping Marketing Module. Consumers will be able to be rewarded with SHPING token by writing reviews or comments, taking pictures, and by simply engaging with brands. It should be noted that the whitepaper states that “neither Authenticateit nor Shping Co makes any warranties as to whether the Shping coin may be listed on any cryptocurrency exchange”. Although this statement may simply act as a precautionary measure and risk aversion strategy for the organization, the value proposition of the token will be significantly diminished if this is the case, especially from the consumer perspective.

Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

3.0
N/A
3 - Automation; making something easier to do.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

3.0
N/A
3 - Potentially disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

2.0
N/A
2 - Centralized with some plans to decentralize.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

3.0
N/A
3 - Interesting.

Whitepaper

The Shping whitepaper is relatively comprehensive, and has a fair balance between discussing the benefits of the platform for stakeholders and the value proposition and technological details for investors. It is easy to read and not obscured by technical jargon. The whitepaper breaks down the value proposition of the token and the platform from the perspective of the consumer, brands, retailers, and the industry as a whole. Overall the whitepaper is well balanced in terms of comprehensiveness and readability.

Comprehensiveness

Does it cover the full scope of the problem and solution?

4.0
N/A
4 - Satisfactory coverage, well written.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

4.0
N/A
4 - Clear, well thought out, realistic.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

4.0
N/A
4 - Clear, well thought out, realistic.

Roadmap

The roadmap presented in the Shping whitepaper is focused on business-related milestones as opposed to technological goals. This is understandable considering the biggest challenge for Shping is widespread adoption and not necessarily any particular technological obstacle. Currently, Shping has four offices located in Melbourne, Singapore, Beijing and Moscow. Further international expansion is planned from Q1 2018 through Q1 2010. The beta version of the Shping Platform was released on June 30th, 2017. Currently, Shping is already generating revenue (fiscal value is not disclosed in the whitepaper) and 24 brand partners. The Shping app is currently available on IOS and Android devices.

Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

4.0
N/A
4 - Down to earth.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

3.0
N/A
3 - Optimistic.
Vision

Is there a larger, long-term vision?

3.0
N/A
3 - A trend with potential.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

3.0
N/A
3 - Imperfect but available, or using substitutes.
Current Position

Where is the project now, relative to its vision and plans?

2.0
N/A
2 - Critical obstacles ahead.

Compliance

It is noticeable that Shping uses an icon (the letter “s” imprinted on a shopping bag) on its website and whitepaper, which bears a stark resemblance to the Shopify logo. Due to the significant overlap of the two organizations’ target user base demographic, Shping may be at risk of trademark infringement. For the development of the Shping database, the team intends to rely on validated data sources such as the GS1 and partner with Everledger (a digital immutable global ledger that tracks high value assets). The token has intrinsic value , as it is used by brands/companies in order to utilize services on the Shping platform. However, value to consumers will be dependent on whether the SHPING token can be used on cryptocurrency exchanges (which is not a guarantee according to the Shping whitepaper).

Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

4.0
N/A
4 - Distinctive use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

2.0
N/A
2 - Minimal, superficial or hackneyed.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

2.0
N/A
2 - Insufficient or unprofessional.

Company and Team

The Shping team, comprised of 15 to 20 individuals, has a fair balance between business and technology oriented professionals. Their development team has seemingly proficient developers, however, few individuals have had experience with blockchain technology and smart contracts outside of their experience working with Shping. There seems to be an intention to include links to all of the team members LinkedIn accounts, as there is a icon in each of the profiles, but the icons are not clickable. A manual search of a small sample size, however, shows that members can be found on LinkedIn and their professional experience matches up with the descriptions written in the whitepaper.

Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

3.0
N/A
3 - Company structure in place.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

4.0
N/A
4 - Verifiable relevant experience.
Team Assembly and Commitment

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?

3.0
N/A
3 - Mostly assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

4.0
N/A
4 - Well suited to project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

4.0
N/A
4 - Good, sufficient for each aspect.

Token Sale

The total token supply is 10 billion tokens: 50% available during the token sale, 1% for bounties, 5% for the advisers, 2% for the team, and 42% for the Shping App Incentive Reserve (which is used for expansion and adoption of the platform). Unsold tokens during the crowdsale will be added to the Reserve. The minimum token purchase is 1000, where the initial rate is 1 SHPING token = $0.01 USD. Although there was a hardcap specified for the presale ($3MM USD), there is neither a hardcap nor a softcap for the crowdsale. The crowdsale begins on February 22, 2018 and ends on March 23, 2018.

Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

1.0
N/A
1 - Very greedy (e.g. uncapped).
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

1.0
N/A
1 - None or nonsensical.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

3.0
N/A
3 - Rough estimates, but sensible.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

3.0
N/A
3 - Sufficient company/community interest balance.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

3.0
N/A
3 - Some presence, lukewarm reception.

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