ICO Rating

HelloGold

HelloGold brings gold and blockchain to hundreds of millions of people across Asia

About HelloGold

HelloGold is bringing gold-based savings and financing to blockchain. The company will enable wealth preservation and diversification through its digital gold-backed token. HelloGold will offer four core lines of service:

  • Gold-backed token: Each digital gold token (GBT) will be backed by physical investment grade gold.
  • Customers will be provided the option of converting their vaulted gold to a digital gold token (GBT). This will enable customers to use the stored gold as value beyond the HelloGold System.
  • Customers can use their gold as collateral for loans provided by Aeon Credit Services, giving them access to personal finance when required at best-in-market rates.
  • An iOS and Android app which allows customers to quickly buy and sell their tokens as well as trade them in for their share of investment grade gold.

HelloGold ICO Review

The HelloGold app allows users to buy and sell units of GBT (gold-backed token). Each token is backed by 1 gram of 99,99% investment grade gold. The tokens are fungible and divisible, therefore 0.0002 GBT would represent 0.0002 grams of gold. Furthermore the platform will have an API pulling current international gold spot prices. Since each GBT is backed by one gram of gold – the price of GBT will, therefore, be pegged to the price of gold. This platform feature will thus allow app users to buy and sell GBT at current competitive rates. Lastly, the app allows – through KYC & AML – users to redeem their GBT for physical gold bars, coin, or jewelry – which will be shipped directly to the users’ address.

 

The ICO will collect Ethereum and allocate HGT (HelloGold Tokens). The allocation will be immediate. The HelloGold Token is an ERC20 compliant token. Its function is to secure the HelloGold blockchain as well as be traded through exchanges. The share of anybody’s HGT determines the share of GBT rewards they will receive when they are distributed. Upon finishing the crowdsale the HelloGold Foundation will allocate GBT among HGT holders pro-rata to their HGT holdings. As the lifetime total allocation of GBT is capped at 3,800,000 GBT (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GBT (i.e. 0.0038 g of gold). The HelloGold Foundation will also mint more GBT proportional to the amount of new gold acquired by HelloGold. Moreover there will be fees: Accounts holding GBT will be subject to a 2% per annum calculated daily Conversion. Once this fee is assessed the GBT in the users account will be burned. To summarize:

  1. ICO participants will purchase HelloGold Tokens with Ethereum
  2. Participants with HGT will be given 0.0038 GBT amount of Gold-backed Tokens. (ie 1000 HGT = 3.8 GBT)
  3. Participants may then buy/sell/trade their HGT on participating exchanges.
  4. Participants may buy/sell/trade their GBT tokens on the HelloGold app
  5. Participants may complete KYC & AML through the HelloGold app to redeem their GBT for physical gold bars, coins, and jewelry.

HelloGold has decided to use the blockchain – specifically Ethereum. The Android app is currently done and available for testing. The iOS app is currently undergoing development. The HelloGold blockchain is functional and currently undergoing testing. HelloGold decided to use blockchain technology for the following reasons:

  1. The Ethereum Blockchain will allow users to purchase gold in small amounts. Unbanked customers and those wishing to invest and store their wealth in gold will no longer need to purchase and store physical gold nor invest out of their means for it. Rather they will be able to purchase small amounts and feel safe it is being backed by the blockchain.
  2. The HelloGold Ethereum blockchain will be run on a private network to avoid paying infrastructure fees per transaction, reduce transaction latency and avoid the risk of independent developers adding their own contracts onto the HelloGold Blockchain. This means that HelloGold and the other nodes will control the block times, ensuring customer gold transactions are completed efficiently. (Currently the Kovan test-net seals blocks every four seconds).

HelloGold ICO Review

The gold bought and sold is of investment grade (99.99% purity) and will be securely vaulted with an independent, LBMA approved vaulting operator in Singapore. The vaulting provider has not been currently selected – though it will be once the HelloGold Foundation completes its crowdsale and uses funds to purchase the requisite amount of gold necessary to secure each GBT token. Furthermore, GBT has been recognized as Shariah complaint by Amanie Advisors based on the AAOIFI Shariah Standard on Gold. Additional HelloGold partners include:

  1. Fenbushi Capital. Dr. Bo Shen, General Partner at Fenbushi Capital, has also joined HelloGold’s board of advisors to support its mission to democratize gold and promote financial inclusion.
  2. ICOAGE – which is now working to promote HelloGold Tokens in the Chinese market.

To obtain the capital necessary for implementing its vision, the HelloGold Foundation (HGF) will create a fixed number of 1,000,000,000 (one billion) HGT, prior to the Token Sale. These will be released in 3 Rounds. Each Round is anticipated to be run at 12 month intervals. Should there be sufficient interest in the Token Sale and no major changes to its structure, Round 1 is estimated to be launched on 28 August 2017 – it will involve 5 tranche’s according to the following chart:

HelloGold ICO Review

HGF are asking supporters to complete registration through a Know-Your-Customer (KYC) process prior to providing funds to HGF. The best way to register is through their website. However, US & Singapore citizens, green card holders, permanent residents, and tax residents are excluded from the Token Sale due to securities regulation.

Lead Team (information taken from company website):

  • Robin Lee (President)

Robin is the former CFO of the World Gold Council and brings a wealth of knowledge and contacts about the gold market. He was the principal accounting officer for SPDR Gold Trust (‘GLD’), the world’s largest gold fund, which held over US$30 billion in assets under management. His WGC experience includes supporting the launch of the world’s first exchange traded, wholesale kilo gold contract and introducing a gold savings program with ICBC which generated annual sales of $6.5 billion.

  • Harith Kamarul (Secretary)

Harith was previously working in field force project management at Great Eastern Life, Malaysia’s largest life insurance provider. His role covered various tasks ranging from data handling and strategy work to training and event management. Harith has experience as a researcher and producer for BFM 89.9, a Malaysian business radio station, and graduated magna cum laude with a BSc in Actuarial Science from the University of Wisconsin-Eau Claire.

  • Roger Ward (Treasurer)

Roger is a strategy consultant, having worked at Bain and Deloitte. He also has experience working in the gold industry, having worked at the World Gold Council developing strategy and managing complex projects in London, Singapore and New York. This included supporting the launch of the world’s first exchange traded, wholesale kilo gold contract as well as providing support to the world’s largest gold fund, SPDR GLD. Roger has a First Class MA Hons in History from the University of Edinburgh.

  • Wykeen Seet (CTO)

Wykeen was previously VP at Bangkok Bank in Thailand where he led multiple projects including Mobile Banking, B2B Gateway, International Remittance, and Credit Related Systems over a period of 8 years. Prior to Bangkok Bank, he was a software engineer at Digital Applications International Limited. He has a PhD in Computer Science from the University of Manchester where he completed his Master of Philosophy (MPhil) in Computer Science and received a 1st class in Bachelors of Science.

Advisors (information taken from company website):

  • Andras Kristof

Andras is an entrepreneur and digital currency technology expert. He has 20+ years of IT experience building robust, scalable systems. He started working with blockchains in 2013, including Bitcoin, Ripple, and Ethereum. After a successful exit from viki.com, he founded Tembusu Systems in late 2013. Andras is currently CTO of Yojee in Singapore, a distributed logistics platform making logistics more effective. Andras is co-author of the ‘Handbook of Digital Currency’.

  • Herbert Chain

Herb served as audit partner for 27 years with Deloitte prior to his mandatory retirement in May 2015, including as audit partner on SPDR Gold Trust (GLD), which at the time was the largest ETF in the world. He has in depth experience in areas including auditing, management consulting, due diligence, SEC filings, and IPO listing. Herb received his MBA from the Wharton School, University of Pennsylvania and currently serves as Professor at St. John’s University (NY).

  • David Lee

David was founder of multiple companies including Left Coast, LiBai and Ferrell Group, and a founding investor in ZCash, Qtum, TenX, and various other blockchain companies and cryptocurrencies. He is also a Professor at the Singapore University of Social Sciences.

Crowdsale Details

Token Sale DatesICO launch 28 August 2017.
Total SupplyHGF will create a fixed number of 1,000,000,000 (one billion) HGT, prior to the Token Sale. These will be released in 3 Rounds. Each Round is anticipated to be run at 12 month intervals.
Raise LimitsN/A, depends on pre-ICO.
Pricing StructureRound 1 public sale will constitute the sale of 180,000,000 HGT in 5 tranches. The price of HGT has been set in ETH as of 04:00 UTC 18 August 2017. Whilst HGT is fixed in price, each tranche subsequent to the first will have a reduced level of bonus tokens.

Project Highlights

Technical White Paper      https://www.hellogold.org/downloads/HelloGoldSummaryWhitepaper.pdf

Comprehensively presents an ambitious business plan.

Team Incredible experienced team of business mavens who understand traditional gold finance structures as well as emerging blockchain technology. Advisors bring in expertise related to blockchain, government, financial services, data science, and public relations.
LocationHelloGold headquarters in Singapore.
BlockchainEthereum
Project CodeN/A
Prototypehttps://www.hellogold.org/downloads/hg-app-demo-release2.0.12-105.apk
Token RightsHGT holders have a right to a proportional share of any reward GBT disbursed by HGF.

*Disclosure – At the time of writing, cryptorated staff owned no HelloGold tokens.

Interested in deeper analysis – hellogold?

3.2
Product

Product

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?

3.0
N/A
3 - Has growth potential.
Competition

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

3.0
N/A
3 - Some normal competition.
Innovation

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

3.0
N/A
3 - Partial, a novel approach or aspect.
2.0
Use of Blockchain

Use of Blockchain

Blockchain Development

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

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

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

2.0
N/A
2 - Some, but not much.
Need for Custom Token (vs. BTC or ETH)

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

3.0
N/A
3 - Issuing a custom token is justifiable.
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.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

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

2.0
N/A
2 - Meh, okay.
3.0
Whitepaper

Whitepaper

Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

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

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

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

3.0
N/A
3 - More information required.
3.0
Roadmap

Roadmap

Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

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?

3.0
N/A
3 - Getting there.
2.8
Compliance

Compliance

Token Utility (value through usage)

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

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

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

1.0
N/A
1 - Solely; a passive investment vehicle.
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?

3.0
N/A
3 - Prototype / MVP / alpha.
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?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

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

4.0
N/A
4 - Professional.
3.0
Company and Team

Company and Team

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?

3.0
N/A
3 - Correlated 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?

2.0
N/A
2 - Somewhat skewed.
3.0
Token Sale

Token Sale

Raise Amount Max

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

3.0
N/A
3 - Justifiable.
Raise Amount Min

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

3.0
N/A
3 - Justifiable.
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

Category Breakdown
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?

3.0
N/A
3 - Has growth potential.
Competition

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

3.0
N/A
3 - Some normal competition.
Innovation

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

3.0
N/A
3 - Partial, a novel approach or aspect.
Product Score:
3.2

Use of Blockchain

Category Breakdown
Blockchain Development

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

2.0
N/A
2 - Some smart contract functionality.
Disruptive Blockchain Advantage

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

2.0
N/A
2 - Some, but not much.
Need for Custom Token (vs. BTC or ETH)

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

3.0
N/A
3 - Issuing a custom token is justifiable.
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.)?

1.0
N/A
1 - Essentially centralized.
Contribution to Blockchain Ecosystem

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

2.0
N/A
2 - Meh, okay.
Use of Blockchain Score:
2.0

Whitepaper

Category Breakdown
Comprehensiveness

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

3.0
N/A
3 - Covers most key issues; a few holes.
Readability

Is it easy enough to understand?

3.0
N/A
3 - Readable, takes some time.
Transparency

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

3.0
N/A
3 - Basic honesty with some hype.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

3.0
N/A
3 - More information required.
Technology Presentation

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

3.0
N/A
3 - More information required.
Whitepaper Score:
3.0

Roadmap

Category Breakdown
Concreteness

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

3.0
N/A
3 - An overall plan, major milestones stated.
Feasiblity

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?

3.0
N/A
3 - Getting there.
Roadmap Score:
3.0

Compliance

Category Breakdown
Token Utility (value through usage)

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

2.0
N/A
2 - Minimal or contrived.
Token as Security (tradable instrument)

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

1.0
N/A
1 - Solely; a passive investment vehicle.
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?

3.0
N/A
3 - Prototype / MVP / alpha.
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?

4.0
N/A
4 - Specific, detailed.
Legal Review/Risk Assessment

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

4.0
N/A
4 - Professional.
Compliance Score:
2.8

Company and Team

Category Breakdown
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?

3.0
N/A
3 - Correlated 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?

2.0
N/A
2 - Somewhat skewed.
Company and Team Score:
3.0

Token Sale

Category Breakdown
Raise Amount Max

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

3.0
N/A
3 - Justifiable.
Raise Amount Min

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

3.0
N/A
3 - Justifiable.
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.
Token Sale Score:
3.0