ICO Aergo Review - FFC Media

ICO Aergo Review

Name: Aergo

Token Symbol: AERGO

Web: https://​www​.aergo​.io

GitHub: https://​github​.com/​a​e​r​g​o​i​o​/​a​e​rgo

Documentation: Business white paper, Technical White paper

ICO status: processing, on private sale it was collected 90% of hardcap ($ 29 million). Airdrop and (possibly) public sale are scheduled in September and October; KYC / AML details are not available yet.

500 million tokens have been issued, only 30% (150 million) of which are available to investors, and over 144 million have already been sold on private sale at a price of $ 0.2., 30% of the remaining tokens are intended for marketing, 25% are reserved tokens, 15% remain for the team and advisors. When trying to find out whether there are restrictions on the sale of tokens registered in a smart‐contract, or a team / holder can simultaneously throw a huge number of tokens on the market (which is bad for investors, as it may lead to a price collapse), we did not receive the respond from the team.

Project Summary

AERGO, Korean platform is a project that promises to put any business, including governmental companies, on blockchain, as well as to adapt it for specific needs of this business. Aergo is marketed as blockchain version 4.0; it is the fastest, the most scalable and business‐oriented. For example, a sports equipment store can set up its own decentralized application on the Aergo platform, after which instantly copy the information about the goods to the cloud and then keep records in blockchain. The client can also choose which blockchain to use – public or private. Everything is fast, easy and cheap. The company also offers complex services of IT integration and support for clients. The platform consists of Aergo network, Aergo Hub hosting, and Aergo Marketplace. The main purpose is nothing less than to bring in a new era of mass use of blockchain.

Businesses are interested in blockchain technology, but while the development and implementation of protocols and applications on blockchain are too complicated and expensive, especially for small businesses, and do not provide them with scalability, increased confidentiality, speed and security.

Aergo claims that it will solve this problem and will allow the companies and developers to easily design, create and open their own blockchain apps in the cloud. The idea is ambitious, though wide from being new: the development of “world’s best’’ blockchain and its implementation was promised by a lot of projects, including well‐known Universa. Everything will depend on the performance level.

The first Aergo connections are planned through the partner and client networks of the parent company Blocko that creates blockchain applications for business in South Korea. On the web‐site of the project the developers announce that the basic Aergo technology is already used by 25 million users of Blocko and its productivity is proved. The confirmation of the mentioned number was not found. In respond to the request of providing the confirmation to this announcement, the team informed another number – more that 9 million of Korean people, as they said, who are provided with the service of Blocko technology and Coinstak, a blockchain solution, developed by it.

Where Does Blockchain Come in?

Blockchain is the bases of the project and its main contents. It’s good that the developers do not try to present in their whitepaper a blockchain as a «medicine for all maladies», but they describe both its shortcomings and the complexity of its implementation.

Project Team and Advisors

A significant part of the management was transferred to the project from Blocko. The site features 15 team members and 8 advisers with active links to LinkedIn.

Phil Zamani, СЕО, has an impressive work experience in fintech, blockchain and telecom companies. He has an upgraded Linkedin profile, and almost empty account on FB with 21 friends. It is a bit embarrassing that he often changed the work places (every 1 – 2 years)

Hun Young Park, Technical Director, before Blocko, according to his profile, had been working as a software engineer in Korean companies for 10 years. Other information was not found.

Roderik van der Graaf is presented as the founder of Lemniscap, an investment and consulting company, specializing in investments in cryptocurrency assets. There is no information on the founder on company’s web‐site, but there is Aergo project in its portfolio. There is also no information about the founder in the company’s Linkedin profile and on Twitter, as well as there are few subscribers.


He is also represented as an advisor of Blocko and as managing director of two venture funds in the past, which is confirmed by Bloomberg.

There is Eddie Alleyn among the advisers, a security expert, engaged in the integration of secure communications and cyber systems for the UK government until 2016. Google confirms this information.

This is not a stacked team, but it seems strong enough.

Friendliness to the Investors

The project has profiles in all social media, active followers; there are about 30 thousand people in Telegram chat. They answer in the chat, but monosyllabically, with quotes from press releases. Such attitude is hardly can be called friendly to the investors.

Positive Indicators

* Rather detailed white paper, technical paper.

* Active GitHub

* Blockchain is not dragged in by the head and shoulders, the team has been working in this field since 2014

* The project has grown from another blockchain‐project, apparently quite successful. In December 2016, the Coinstack platform became the first blockchain product in South Korea, that was awarded with “First Class Gold Software (GS) Certificate”. In summer of 2018 Blocko raised the capital of $14 million from several large investors in order to further strengthen its presence in Korea, Europe and East Asia. Almost the whole team with a good background came to Aergo from there.

* Collected 90% of hardap on private sale, significant investors are interested in the project. * The first decentralized application on the platform for ZPER company has already been released.

* Not a slow work flow chart

o Q3 2018 — launch of beta‐version of the network

o Q4 2018 — launch of the test network

o Q1 2019 — launch of the main network

o Q3 2019 — launch of hosting and marketplace

Negative Indicators

* No legal expertise of ICO.

* Uncertainty with the token‐sail (exact dates and details are not yet announced). It is unclear whether ordinary investors will be able to enter the project.

* The goals are very ambitious, but it is unclear whether the team will be able to implement them.

* There is no released product, although some applications on the platform can be released now.

* Token based on its own blockchain. Instead of answering questions about the token standard, wallets for storage and the outlooks of listing on stock exchanges, the team advises to follow their updates. This raises doubts that their token will be available on some major exchange in the foreseeable future.

Summing Up

It is a very ambitious and technological project, but as the ICO statistics show, many projects that promised to make a revolution and to «conquer the world using blockchain» ended in a fiasco. It is quite difficult to estimate the real outlooks for the more than one‐year‐period at the current stage without a released product. Syllable answers of the team are confusing, it seems like they are not really interested in investors (maybe because the hardap is almost collected). Lack of information about their tokens (standard, wallets, listing prospects) is also concerning. In general, the project is intended to long‐term investors and businessman that plan to use the platform functional, but not to small speculating investors. We can look at the terms of airdrops and public token‐sale, if it takes place. Our grade is 5 out of 10.

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