ICO review Part 1 Soma.co

We all know that ICO´s (initial coin  offering) are fraught with scams however with a comprehensive analysis , you will be in a better position to make an intelligent decision. Today, I will analyze Soma.co 

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Note: The opinion presented here is my personal opinion and not a financial advice.

Soma is a revolutionary decentralized platform which facilitates trade inside the Soma Community through a rewarding system that enables beneficial collaboration of the community members . ( https://soma.co/ ).  The company is founded in Finland and its main segment is social marketplace. The great thing with the company is that members are rewarded positively if they engage in actions that will benefit other members and the community as a whole-this is done with Community (SCT) a cryptocurrency designed to incentivize the members of the decentralized community to perform value-adding services and act as a fast, secure and cost-effective way of compensation. (source : https://soma.co/ )

ICO will end on the 26th of October 2017 

Token price: 1 ETH = 450 SCT

Max cap: 120 000 ETH

Supply for Token sale: 54 000 000 SCT

                           

              Team Members         

• Jukka Hilmola (Co-Founder) a management consultant and co founder of Suomen Pikipojat Oy in Finnland –he has experience in  negotiating with angel investors and VC’s, expanding businesses to foreign markets and consulting .
• Joseph al Sharif (Co-Founder)  An Entrepreneur with corporate   experience in sales and marketing in SME’s and large corporations.
• Sami Suosalo  (CFO) with experience in financial services and consulting

 

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The diagram above shows how funds will be used and as we can see there is huge interest in marketing and development which is a good sign. Here is a link to their white paper https://soma.co/wp-content/uploads/2017/07/Whitepaper-2.pdf feel free to check it out .

Due to the huge potential of a decentralized social market place plus  further analysis I therefore give the firm a low risk score and medium hype score –however there will be huge investment in marketing after the ICO, therefore the long term investment potential is good (if all goes according to plan). 

What do you think about the  ICO? send in your comments and please would you up vote my post in order to send in your support, click follow in order to see future posts from me on your feed and resteem in order to share this post with your followers. 

Pls see my former post: What is the True Meaning of Freedom 

 For those who want to be an investor in Bitcoin wallet see X coins link: https://xcoins.io/investors?r=v93e2z