One of my favorite coins for this year is SophiaTx. If you’ve seen our top altcoins for 2018, you would have noticed SophiaTx is one of our top 5 coins for 2018. It is also a coin that many of you have requested us to do a review on, so today we will be reviewing Sophia and showing you why so many people are bullish on this coin.

SophiaTx describes itself as “the blockchain for business”.

And that’s really what it is. The blockchain industry has always been its own tech and its own language. Secular businesses who want to use blockchain for its advantages, have to convert their existing software into blockchain software. This is costly and risky and has been a major deterrant for mass adoption of blockchain in the business world.

SophiaTx or Sophia for short, is a blockchain project that is built to integrate with secular world, main operation software such as Enterprise resource planning software (ERP) such as SAP. To give you an idea of how huge the scope of Sophia will be,

SAP alone is the main backbone of operations in today’s world’s transations.

Sophia’s blockchain aims to not only integrates SAP, but eventually all ERPs, to cater to all business of all sizes.

Where blockchain projects demand business to come to them by making huge changes to the company structure and software, Sophia brings the blockchain to companies by integrating in their existing software, offering all the advantages of the blockchain with minimal changes. This is what we call a game changer.

Tech

This is an overview of Sophia’s technical architecture. As you can see it is very complicated. Because this video is at a lay investor’s level, we won’t cover every aspect in detail, but we will discuss some key features of their tech.

The User services here is An optional certified backup authority will be available to customers who wish to store a copy of their sensitive user data off-site.

User Services
The User Services will store and manage all user data, comprising of the following information:
●User access details (Username, Password)
●User private details (Contact, Address etc.)
●Private key
●App license information
●User SSL certificate
●List of secret keys with TransId

Marketplace
The Marketplace is a web based solution and entry point for customers and solution developers and contains two primary areas App Store and Dev Store (as per Figure 4).

Customers will be able to view and purchase applications developed for SophiaTXBlockchain, while developers are given the option to download the API and submit their own applications for testing prior to the release in the App Store.

A published application is going to contain a unique license key used within the blockchain as a method of remuneration for the developer.All customer and developer data in the store is encrypted and saved in a resilient off-site repository.

App Store
The App Store, embedded in the marketplace,is going to provide a catalogue of applications which have been developed and certified by the various solution integrators and developers.

Customers can download and install an application into their ERP System which will synchronise with the SophiaTX Blockchain and utilise the blockchain functionality.

Dev Store
The development store, another integral part of the marketplace,integrates the testing environ-ment and allows developersto test their application within a private testchain.

All applications will undergo rigorous testing before being placed in the App Store. The license key is only provided to the developer once the testing for certification has successfully been completed.

The Dev Store provides developers with the tools necessary to integrate with the SophiaTX Block-chain.

SophiaTX Blockchain will provide a Java and .Net based interface for development integration.

Application Library

Applications developed by external and SophiaTX Blockchain developers are stored in the application library once they have passed the certification process. The application library is linked to the Marketplace App Store where the end customer will be able to view the details of the application, and will be able to purchase and install the application in their system.

Last bit of their tech to share with you is their concensus algorithm. Sophia uses Delegated Proof of Stake (DOPS)
The main attribute of DPoS is that stakeholders have the right to elect miners in a democratic manner. Every stakeholder is able to vote and express their opinion about who should be responsible for block generation.

Candidates with the highest number of votes are elected and have the right to generate new blocks and fill them with unprocessed transactions. The number of active minersis limited, but anybody can apply to be a miner.

Elected miners are paid for their willingness, services in verifying transactions, and contribution to the network. It requires mentioning that an irresponsible and untrustworthy miner can be voted off and be replaced by a new miner.

In DPoS, chain parameters (for example block interval and size, maximum number of miners, transaction fees) are not fixed.
Miners may propose changes to the parameters, and if approved by the majority of miners, changes are accepted.

The contract stores necessary data for both the vendor and customers and will be stored in the blockchain. Sensitive and confidential data will be securely encrypted by a shared secret so that only the vendor and consumer can decrypt it. Unencrypted data will be publicly available. And this is an important aspect of Sophia, because more generic blockchain projects are purely open and do not have the privacy option easily available, but when you are dealing with companies and sensitive information, you need the option to keep sensitive documents e.g. clients details secure.

Team

This is the Sophia team. Before we look at them individually, I wanted to mention that Sophia is actually a joint venture between two companies, Decent company which is a blockchain content distribution company and Venaco who is a SAP specialist consulting firm. The result of their combined venture is the company called Equidato Technologies. And SophiaTx is a product of Equidato, in fact, right now, Sophia is the only product of Equidato. But Equidato has been making big partners in the business world, one of the more prominent partnerships being Earnst and Young.

Looking at the actual team individuals, as expected, it is a very impressive team. I will go through a few of the top guns with you.

Jaroslav Kacina their CEO
 over 22 years of proven track record in delivering of complex technology transformation initiatives
 CEO and Co-founder of Equidato Technologies AG and a Managing partner at SAP Innovation firm Venaco Group
 2015-2017 a Senior Vice President at McKinsey & Co in London
 2010 Vice President for global SAP Business transformation program at Alstom (now GE) (implemented single ERP system across more than 200 units in more than 35 countries)
 2008 joined Alstom Power in Switzerland as a Global Director of IT
 1998-2008 working at Ernst & Young and Deloitte on many large-scale technology and innovation programs for leading companies internationally

Martin Harler their CTO
 Founded Octocloud, a Swiss based solution providing SAP Business One cloud on HANA
 from 2010 worked for Alstom in Switzerland as technical architect and manager for the implementation of SAP Business One
 worked for Airwave UK on Britain’s government projects for the Police, Ambulance and Fire Service

Kok Weng Choo their platform development lead
 more than 15 years of experience in international SAP and technology innovation projects for various industries.
 worked for General Electric, Alstom, ABeam, and many others
 global manager for SAP support and overall manager for APAC activities at Alstom (now GE), overseeing deployment in Malaysia, Singapore, China, Australia, Japan, Vietnam, Taiwan, and others
 SophiaTX blockchain platform development lead
 responsible for regional activities in Asia Pacific
 Managing Director of Venaco Group APAC region, based in Kuala Lumpur, Malaysia

And you can go through the rest of the team’s resume in your own time, but it’s an impressive team with a lot of experience in the field.

They also have a huge list of advisors, with high ranking people from Treeti, GE, Vodafone and more….

So all in all, this team gives us the confidence they know what they are doing and can get the project off the ground.

Roadmap

When you look at their roadmap, Q2- Q3 is going to be very very exciting, including

And actually the team is 2 months ahead of schedule. According to their original roadmap, Mainnet was only going to be launched in Q3 or Q4.

So in terms of pricing and flying under the radar, I think now at the start of Q2 might be the best time to jump in, because I foresee this project picking up attention and momentum from here onwards.

Token use:

Once the SophiaTX Blockchain is fully launched, it will utilize its own proprietary token SPHTX.

SPHTX will have multiple uses on the blockchain, within the marketplace and will also be included as a utility token in many decentralised applications (Dapps):

●Transaction fee and reward for miners validating transactions and blocks on the blockchain
●Subscription to access rights to the SophiaTX Blockchain
●Reward allocation for buying and sellingof assets in the marketplace (App Store and Dev Store)
●Reward for the developers when an end customer installs and uses a SophiaTX Application (Dapp license)
● Transaction and data storage fee for document file server
● Licensing for private Blockchain

Price prediction:

Current pricing of SophiaTx is 19.8 cents! The ICO price was I think $0.30 and when it hit the markets it started at $0.47 cents and went to a high at $1.54. Back in March when we saw it did our reviews and listed it as one of our top 5 it was $0.57 and we thought it was a great buy even then. Since then, not because of the project, but because of market conditions, its price has fallen to 1/3 of a month ago, sitting at $0.19. This is a steal in my opinion.

Furthermore, if you look at the volume, its only $107k USD in the past 24 hours. Not even a million. It is so under the radar at the moment, I think its super.

Its marketcap is only $38million, I think in a good market this project is easily worth a billion dollars.
It’s not on any big exchange yet, which is another bonus, so we can expect a price spike when it gets listed on Binance or some other big exchanges. But for now, some of the more notable exchanges it is on include Kucoin, Qryptos and Cobinhood.

So I’m just thinking out loud for myself, I am going to buy some SophiaTx over the next few days.

As always, this is not professional advice, just me sharing my personal thoughts and opinions of my own crypto journey with you guys. Always do your own research and make your own decision.

That’s all for our review of SophiaTx guys, I hope you found this video helpful. If you like it, please give us a like and subscribe, and if you want to know which other small altcoins we are bullish on, do check out our post, “top small altcoins” of 2018.

Have an awesome weekend guys, and we’ll catch you tomorrow!