ALiS - Probability of Competition for Steem?

Will we see a real competition in Social Media Platform sooner or later? Well, few have already tried like the yours.org which has taken option of using bitcoin cash and seems it will fail sooner or later, synerero has its own cryptocurrency AMP and posting site called Wildspark for sharing videos but doesn't look like it is going to get any better, akasha.world beta release is supposed to happen in Q4 2017 and time is running up and being an infrastructure on Ethereum Blockchain I do not have expectation to be able to surpass Steem. Now, we have ALiS added to the list of possible competitors who say Steem is their source of inspiration.

About ALiS

ALiS is an Social Media Company that will be developing a blockchain based Social Media Platform for Japanese Consumers at first and to the whole world later on. They want to be pioneer of high quality and reliable articles for japan as clickbait media outlet has plagued the market. They raised 13,000 ETH during their ICO reaching their minimum funding cap.

ALiS has its token listen on coinmarketcap and at the time of taking the screenshot, it was trading at $0.53 with market cap of $20M with total token supply about 75M and circulating supply about 38M.

It is being traded in few minor exchanges with daily volume of about $100K with trading pairs of BTC, ETH and LTC.

My Thoughts

The team looks inspired with strong profile and japanese people being known as hardworking and dedicated people to work, they will most probably release their platform on time. They raised a decent funding in their crowdsale and recent price increment of ETH should keep the project on track. Since their inspiration comes from Steem, there should not be a major difference between both platforms except for the cryptocurrencies as Steem has three while ALiS plans to use only one. The price of the token is about half a dollar at this time and about four times lesser than Steem which seems to be going strong on and the token supply is only 75M out of which nearly half has been locked which belong to founders and early stakeholders which is a strong point for increasing token value.

In my opinion, it wont be a fierce competitor but can attract most of the japanese users but those who are already involved here might start using both platforms. Their plans to go global is quite far and in the mean time Steem global presence will be exponential by then. They don't seem to be a threat to Steem in any time soon. Maybe if SMT's plans had rolled out earlier they would have waited to launch their platform in Steem Blockchain which awards users with faster blocks, faster transactions, no charges incurs while doing transfers and possibility of earning in already established platform.

If you do have any thoughts about the token or feedback regarding the post, please do comment. Thanks a lot.

The images were taken from Alis website https://alismedia.jp and coinmarketcap.