BlooCYS is an ambitious project aiming to introduce smart contracts and blockchain to the world of expert service providers…a little bit like upwork on the blockchain.
The modern workplace is changing and people are needing to or wanting to create additional income streams that allow them to earn extra money or to work in an area that they are passionate about, without having to risk their regular pay check.
There is also the rise of the millennial who do not desire the 9-5 lifestyle and are looking for flexibility and greater control of their work/life balance.
This is where BlooCYS steps in to help with “Experts at Your Fingertips”
White Paper: click here
I will be following the 3 Ps method for an overview of this ICO:
Purpose. People. Plan
Let’s get started.
BlooCYS has been created to offer real-time video consultancy with professionals. The idea is to enable users to avoid time delays, access global skill sets and deliver their service in a flexible way that suits both customer and expert.
Many of the team members have shared experience from rajajobs.com and Pineapple Tech which is closely related to the objectives of the project – job seeking and technology solutions. For me this is a good thing – they know and trust each other, from my perspective that gives stability to the project
The BlooCYS team is broad based and includes strategic advisors along with marketing and communications. It is interesting to see a Chief Partnership Officer, so I am hopeful that some powerful strategic global partnerships can be established – it would be good to see a LinkedIn partnership or something similar for skill validation.
I was disappointed to see that the start of the project begins with the project initiation and token sale.
In this ICO economy contributors are looking for projects that have evidence of effort or conviction from the leadership that they are committed to the project and have some skin in the game.
A white paper and a hand out looking for funding does not inspire confidence.
Moving forward, beta launch is due April 2019, followed by the launch of Education, Beauty and Tourism channels in July 2019.
In 2020 the project will focus on asian expansion and 2021 the focus will move to global expansion.
With a soft cap of $5M and a breakdown of funding as follows:
40% Marketing & Growth
30% Product Development
15% Operating Expenses
10% Staff Salaries
5% Governance & Legal
Another interesting aspect of this ICO is that in order to participate in BlooCYS pre-sale you must use the LATOKEN platform, and you will need to create account and upgrade to Tier 2.
These are additional steps that add confusion for new users and is a good example of why mainstream adoption is still a way off, we need systems to be effortless for adoption.
In the white paper BlooCYS positions themselves as “A revolutionary decentralised platform for hiring professionals for consultancy services.” And then they go on to say, “BlooCYS is ultimately an Uber-like platform that helps consumers hire the right professional for the consultancy service they need. It can be learning a new language. Getting a make-up or hair tutorial. Or fixing a bug or an IT related problem. The possibilities are endless. All via video. And in real time.”
Which is interesting because the services in the example above can all be found on youtube for free, so I think there will be a challenge in shifting mindsets from a free platform to a paid platform – in addition to introducing a new type of currency.
However, I admire their desire to “allow millions of previously excluded people to participate in the next wave of economic change, unlike past cycles where only those who owned the assets could profit from their usage. In our decentralised model, anyone can now be a direct economic beneficiary.”
And I believe that there are definite benefits to having cryptocurrency as a cross border payment method – I don’t know if we need another platform based currency though.
The project team seems to be made up of solid individuals with relevant experience. The leadership is based in Singapore which is potentially positive as Singapore is positioning itself as a blockchain friendly space. Having a dedicated Chief Partnership Officer could pay off as a good strategy. They already have some established partnerships, so it’s a good launchpad to move forward from.
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