INGOT Coin ICO Review

ICO PROFILE:

Company details: Ingot Group (Estonia, 1993)

Project name: INGOT Coin

One or two names of the people behind the project: Iman Mutlaq, H.E Sheikh Ali Abdulla Isa Al Khalifa

Token symbol: IC / ICC

Website: ingotcoin.io/

White paper: ingotcoin.io/documents/en/white-paper.pdf

Conversion rate: 1 ICC = 1 USD

Start / End Date: 2018-07-01 - 2018-08-11

Soft cap: 37,000,000 USD

Hard cap: 90,000,000 USD

Bonus: -

Whitelist/KYC: -

Is it an ERC20 token? Yes

Countries excluded: United States

Token distribution date: -

Currencies accepted: USD, ETH, BTC, XRP

Percentage sold: 75%

Sold on pre-sale: -

Fundraising goal: -

Total tokens: 120,000,000

Links to the main social channels:

Was the pre-sale private or public? Public

Any known VCs behind the project? -

Overview

INGOT Coin is a fully integrated blockchain-based ecosystem that will allow to bridge the gap between the traditional financial markets and the crypto markets, providing a solution to settle transactions, make payments and trade assets instantly while removing unnecessary third-party intermediaries.

Simply put, INGOT Coin is aimed to make trading a more efficient activity, minimizing trading costs by using distributed technologies and removing potential issues derived from third-party intermediaries and banks such as high fees, unavailability and time consumption.

The INGOT Coin ecosystem is comprised of 6 core components:

IC Wallet, a blockchain-based crypto wallet that will allow participants to send, receive and store cryptocurrencies, as well as fiat money. This wallet will be integrated with IC Digital Bank, allowing users to pay with fiat and settle with crypto and vice versa, and with IC Exchange.
IC Exchange, a cryptocurrency exchange fully integrated with IC Wallet, IC Brokerage and IC Digital Bank, where traders will be able to buy and sell cryptos, which will be listed against other cryptos (BTC/ETH) or fiat currencies (BTC/USD), or even against ETFs and commodities (i.e. BTC/GOLD)
IC Brokerage, which will provide access to all financial products, ranging from fiat currencies to international equities and from commodities.
IC Digital Bank, a 24/7 automated payment processing system which facilitates all transactions, payments, and settlements within the INGOT ecosystem. Clients will be able to open different bank accounts ranging from current and saving, to brokerage accounts.
IC Crypto Certifier, a platform for educational services aimed to build awareness and educate all interested parties on the blockchain technology.
IC ICO Accelerator, geared towards entrepreneurs and startups willing to raise funds for their projects, offering a wide range of services from marketing strategies, PR services, white paper content creation, to legal services, blockchain technology development and token listing on the IC Exchange.

This ecosystem will also meet the strictest regulatory requirements implementing KYC and AML policies. In particular, filling the ecosystem’s singular KYC will allow participants to open one account in the IC Digital Bank, the IC Exchange, the IC Brokerage, and the IC Wallet at the same time to trade crypto, fiat, and traditional instruments.

Transparency is also key in INGOT Coin as all transaction-related information such as trades, investors, volumes and detailed data of all transactions within the ecosystem will be publicly available on a decentralized ledger.

Partnerships

On June 12th, 2018, INGOT Coin entered a joint venture partnership with GMEX Group

to create a user-friendly and up-to-date platform providing access to partnered ICOs as well as access to their tokens and utilities. Furthermore, all users of the platforms will get multiple discounts when using any Utility of any ICO on the platform.

A few days later, INGOT Coin and Zichain formed a partnership to find ways to both integrate and innovate onto the market.

Development Plan / Roadmap

INGOT Coin project consists of two phases:

Building the IC Ecosystem
Building the Digital Commodity Exchange.

Each of these phases will have its own ICO round.

The roadmap for the project is detailed below. Key developments in the roadmap will take place in the last quarter of 2018, when IC Wallet will go live and the second quarter of 2019, when IC Digital Bank will be launched.

Q3 2017 - Discovering the existing financial industry threats.

Pinpoint the challenges of non-transparent and inefficient regulatory associations which increased the restrictions of fundraising and liquidity.

Q4 2017 - Analyzing the vast uses of blockchain technology.

Worked excessively on finding a unique solution that will provide a complete solution for all financial industry stakeholders.

Q1 2018 - Business model and financial feasibility study.

Completed a full business model integrating a Digital Banking solution, Digital wallet, Brokerage and Exchange while providing a Crypto Certifier and ICO Accelerator.

Q2 2018 - Publishing INGOT’s Whitepaper

Analyzing the mechanisms of providing a full Ecosystem that aims to fulfill all regulatory, stakeholders and market participants of the financial industry

Q2 2018 - Bounty Program Released.

Detailed bounty program is released to raise awareness of this revolutionary ecosystem on multiple media mediums.

Q2 2018 - INGOT’s Pre-sale ICO.

INGOT’s tokens will be publicly issued for the first time at a discount. INGOT’s wallet (IC Wallet) will be released and activated.

Q3 2018 (<-- We are here!) - INGOT’s first round ICO.

IC will be available for sale for a limited time: Be the first to invest in it.

Q4 2018 - IC Wallet Goes Live.

Equipped with the highest security standards, the wallet will provide swift and smooth transfers. This wallet will be able to hold multi asset classes, ranging from Crypto
Currencies to fiat Currencies along with Traditional Assets.

Q2 2019 - IC Digital Bank Is Open For Business.

The fully licensed bank will provide various banking services such as current accounts, e-payments, fund management and custodial duties.

Q3 2019 - Completing the Ecosystem Components.

INGOT will be adding the following integrated components to complete a full solution for all market participants.

Q3 2019 - IC Brokerage.

Providing a vast range of financial products including: fiat currencies, Equities, Bonds, Commodities and ETFs while ensuring high level efficiency and liquidity.

Q3 2019 - IC Exchange and IC Liquidity Pool.

IC holders will have the opportunity of trading Cryptocurrencies as well as listing their new ICO coins on IC Exchange. Crypto trading will be against other cryptocurrencies, fiat currencies and traditional financial instruments with insured liquidity by our liquidity pool.

Q3 2019 - IC Crypto Certifier.

INGOT intends to provide participants with robust skills and knowledge required to develop the blockchain technology, understand the crypto market and obtain globally recognized certification.

Q3 2019 - IC ICO Accelerator.

Providing a one-stop-shop to entrepreneurs to issue their ICOs to raise funds in non-traditional ways. These components will grant legal, marketing, financial, PR and other services to increase the success of the potential ICO.

Q4 2019 - INGOT’s Second round ICO.

INGOT will declare its second round of ICO to collect funds in order to implement a digitalized commodity exchange.

Q1 2020 - Planning the INGOT Digitalized Commodity Exchange.

Providing divergent solutions and methods that facilitate the commodity trading process through secured state-of-the-art user-friendly exchange platform.

Q4 2020 - Launching the Digital Commodity Exchange.
Presenting a solution using smart contracts to increase traceability and trustworthiness in the physical trading of commodities such as wheat, corn, soybean or other agricultural commodities.

ICO Team

The INGOT Coin team is made up of 31 people, with enough experience in financial markets, risk management, marketing, development, engineering, design and business development.

The founders of INGOT Coin are:

Iman Mutlaq, partner at Global Alliance Partners, director at INGOT Brokers Australia and CEO at Sigma Ltd. Iman has been in the financial services world since 1993, with over 20 years of experience in the market.
H.E Sheikh Ali Abdulla Isa Al Khalifa, Executive Chairman of Sadad and Chairman of INGOT Consultation Bahrain. Sheikh Ali has a broad experience in financial, trading and investments sectors.

The Advisory Board is comprised of 15 advisors, including some well-known names in the ICO industry such as Naviin Kapoor, Sydney Ifergan or Bogdan Fiedur, which provide their expertise in ICO consulting, blockchain technology, legal and investment management.

Verdict

There are many signs pointing out to a successful ICO here. First of all, the company behind the project, INGOT Group, has been in the market since 1993 which is positive as the founders of the project have a wide experience in the financial markets so they know what they’re doing and how the business work. Also, the ICO white paper is well-written and provides enough information about the business model, including forecasts for revenues and token price.

To cap everything, some of the Advisory Board members have helped to develop several successful ICOs and the company has started to sign several partnerships this month.

The main INGOT Coin ICO weakness is that no marketing plan and no competitor analysis are provided in the white paper. The latter makes sense as probably there’s not a similar solution in the market right now, though you can find competitors for some of the ecosystem components, especially in the crypto exchanges field.

All in all, a very interesting project as INGOT Coin proposes an innovative, cost-effective solution to integrate several financial services under one umbrella.

The article has been written at the request of INGOT Coin, if you want us to review your ICO/Project please contact us.

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