The Module project is planning cryptocurrency mining in a way of renting free storage space from small portable devices.
Module has been created in Japan, and as we know it – Japan is a synonym of technology, quality and order. However, this can be used by some quirky people from the land of the rising sun just to please themselves. And make some crypto. Yes, we talk about the founders of Module.
Leafing through the project papers you get excited with the idea to lend you free space and earn some tokens, but that’s only the first impression.
To begin with, the value of the MODL token is not quite comprehensible, and no‐one can describe the plan to ramp it up. The arguments like “As the Module gains popularity, more and more mobile storage capacities will be available to you in your city, on your street, in your building” will hardly satisfy any thoughtful investor. So, if you’ve nothing to say, keep saying “Decentralization” and “Blockchain 4.0”.
Let’s move on. The platform lacks serious investor as well, yet the budget is quite impressive. The Japanese need 5‐to‐18 million dollars cap to run the project. However, there’s no description in the Whitepaper what the company will do if it fails to reach the soft cap, which is $5 million.
While the public ICO is coming to end on September 30, the Module guys are struggling to reach the soft cap, having managed to raise only $4 plus million at the moment. The team went to Taiwan to participate in the World Blockchain Tour and try to find some big investors there. Well, what was the result is unclear as only fresh photos have been delivered to the public so far.
Speaking of the team members it’s good to take a closer look at them. Despite their LinkedIn profiles it is impossible to check if their experience is true.
As for advisers, the chief guy is Hiroki Owada, who used to be a media consultant for Japan Railways and was a founder of the Internet Research Institute Inc. But his photo was taken from iMDB.com and belongs to a man named Hiroki Owada, a film producer. If this is the same gentleman, it’s strange they didn’t mention his cinema background on the Module website.
Second adviser is Nick Evdokimov, co‐founder of SEOPult, the Cryptonomos fund and ICOBox. The latter gave life to the ill‐fated Universa, Goldmint, and TokenStars.
The project has even more drawbacks than advantages: it hasn’t got an MVP, not it has the written procedure of the tokens burning, which is necessary to raise its value in the future.
So, in short, the idea of involving mobile device users in cryptomining looks good, but the implementation is far from perfect. Otherwise, the ICO could be much better than it is.