ArcBlock: an introduction
NOTE: Whitelist is closed, if you are interested in this project, buy it when it is available on an exchange.
This analysis was requested on our website at the 24th of January 2018!
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´'ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. The platform goes beyond providing the necessary foundational components for using blockchain to power complex business rules. It connects your existing system to blockchain networks, enabling you to automate business process using the data and identities associated with existing systems. ArcBlock’s primary goal is to remove the barriers that have slowed down blockchain adoption among the general public. They are also passionate about developing unique approaches that will significantly advance blockchain development.´'
“ArcBlock is a comprehensive solution that combines blockchain technology with cloud computing, rather than a standalone software package or set of A.P.I.s,” Mao says. “In addition, it’s a marketplace driven by token economy. ArcBlock’s “miners” will contribute not only computing resources to the system, but also reusable components, new services, or ready-to-deploy applications to get token rewards. This is a Blockchain 3.0 application ecosystem developed by the entire ArcBlock community—we’re just jump-starting the project.”
A. REAL LIFE VALUE OF PROJECT (90/100)
Arcblock's main goal is to make the blockchain accessible to businesses. They focus on user experience instead of blockchain technology. The Open Source Protocol provides an abstract layer for underlying blockchain technologies such as Ethereum and Hyperledger. This solves some major blockchain issues:
- Poor performing (slow) blockchains
- Not consumer friendly blockchains (blockchains are focussed on technology)
- High costs of blockchains
- Platform lock-in (if you start with Ethereum, you can not stop using Ethereum)
- Lack of feautures
Compare it with your computer's operating system; that changes thousands of codes in easy-to-use apps on just one machine. When Apple started with the first computer, nobody was interested because it was only accessible to nerds. Mass adoption started after Apple introduced the icon-based interface. ABT is like an easy-to-use operation system but than for blockchain technology.
A good interface will result in mass adoption for all blockchain technologies that are around right now. Not only the nerds are going to use the blockchain, but also people in offices.
B. DISRUPTIVENESS OF PROJECT (90/100)
Most of the blockchain projects are creating niche blockchains focussing on very specific problems. That kind of blockchains are the best in their kind, but have small target groups and therefore higher risks. Besides that, these blockchains need to be downloaded on your computer, are not cloud based and therefore slower than ´normal applications'. Using the blockchain is a lot of hassle right now.
The main focus of Arcblock is to create a platform that combines all advantages of several blockchains in an easy way. This is very disruptive and can be a major step forward for blockchain technology.
C. TEAM AND ADVISORY BOARD (70/100)
The main team of Arcblocks exists of 4 guys with different backgrounds; fintech (IT), marketing and legal. The founders of Arcblocks are entrepreneurs. The team is not extremely qualified but backed by some very good advisors. Most of the advisors are working at big worldwide companies. We like to point out several advisors, that are very capable:
- Ding Lei, Founder & CEO Netease (NTES) a stock-listed company
- Salman Dhanani, TeleNav Automotive, a stock-listed company
- Justin Tomboulian, CIO Microsoft Japan
- Mike Carthwright, Former VP of Expedia
As you can see, the advisory board is very capable. This always gives us trust. Advisors have an image to keep high, so do not step in a bad project without a future.
D. COMPETITORS (75/100)
ArcBlock is competing against other Platform Protocol providers like EOS. The biggest advantage of ABT is that their platform focusses on mass-adoption by combining blockchains, instead of building a new blockchain, what guarantees that there is no platform lock-in in case of issues. This ise a huge advantage for businesses and can make ABT a better choice over EOS. However, EOS is at a further stage.
E. THE STAGE OF THE PROJECT (30/100)
At the moment of writing, ABT is a whitepaper project. This means that they do not have a working concept or minimum viable product. The biggest issue we have with whitepaper projects is that we can not confirm the quality of code. However, at their website, ABT show that they partnered with big players like IBM. We do not know, what or how big, the partnerships are, because ABT did not publish any details. We know that, for example, IBM has 1500 employees working on blockchain technology everyday. If, IBM is going to use the ABT blockchain it will be huge. If, IBM is, for example, a knowledge partner to ABT, their is no value for ABT.
So, be aware that ´partnerships' have no value, without any details.
F. MARKET APPROACH (85/100)
Arcblock is focussing on the mass with large businesses as main-target. This gives their business model huge potential.
G. TOKEN SALES PLAN
The Arcblock concept and real-life-purposes are very good and have a bright future. However, whitepaper projects are always risky. We can not confirm the capabilities of the team nor the partnerships they have. If they promise what they do, this project can be a life-changer for the blockchain sphere.
- User based
- All blockchains on one platform
- No platform lock-ins
- Cloud based
- Can be the most user friendly blockchain platform in the world
- Partnering up with big companies
- Fast and accessible
- Competitors can do better
- Failing platform
- Failing team
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