ICO LaneAxis project Review - FFC Media

ICO LaneAxis project Review

Name: LaneAxis
Token Symbol: AXIS
Web: https://​www​.laneaxis​.io/
Documentation: whitepaper
ICO status : pre‐sale, a little more than $2.4 million of $30 million of Hard Cap has been collected by 26 September. Soft cap is collected in quantities of $2 million.

Project Summary

The goal of the LaneAxis project is to build a global logistics network on the blockchain. ICO is available for USA citizens. The company has a California address, the site contains a link to an American patent. The patent really exists, there is in the database of USA Patents and occupies 44 pages. The automation of cargo handling is patented, but there is no blockchain in sight.White paper mainly describes the transportation market in the United States. As usual, the founders blame the greedy middlemen, and encourage people to fight with centralization. The story about the technologies of the project is given much less space.

The organizers of the ICO are going to create for carriers a social network with data on weather and road conditions, as well as targeted discounts on tires, fuel and spare parts. AXIS tokens will circulate in this network: for example, they can be obtained as a reward for helping a colleague or timely transmitted information. It is a promising idea, because there are many truck drivers in the USA, and such a service for them does not exist. However, the social network does not need a blockchain and its own tokens: it is possible to do with some conditional points.

Where Does Blockchain Come in?

The founders conceived that the blockchain will connect carriers, senders and regulatory authorities by automation of operations with documents. It seems to be convenient: to track the delivery in real time, for example, from a mobile device. Blockchain is used to digitize transactions in the supply chain, linking the participants of transactions with the help of «smart contracts». The carrier by means of «smart contracts» will be able to pay instantly to the driver, and also to adjust automatic payment of bills for fuel and spare parts.

It is not clear from the project documents whether the carriers are ready to switch to smart contracts? All links to articles lead to paid press releases, in which there is no specifics. The use of blockchain technology in the project is drawn. Bearing in mind the fact that the team is trying to avoid questions from technically experienced users, the situation does not look good.

Project Team

The founder of LaneAxis — Rick Burnett from San Diego. Rick founded a successful company of development software transportation. СТО of the project, which should be responsible for its development, was not found on the site.

The team has specialists with experience in leadership positions at Wal‐Mart and the World Bank. The competence of the team does not raise questions.

Friendliness to the Investors

There are more than 10 000 participants in the Telegram group, they look active. Other social networks, such as Facebook and Twitter are conducted regularly, advertising the project itself.

Positive Indicators

  1. The network with AXIS tokens may be of interest to drivers, representatives of insurance companies and the automotive business.
  2. Purposeful and knowledgeable team, charismatic founder.
  3. There is an American patent, White paper and the site are structured and competently decorated.

Negative Indicators

  1. The company has not technology , which uses blockchain in cargo transportation. For example, IBM or the Danish shipowner Maersk uses a distributed register in their logistics.
  2. There is no trend on Bitcointalk, a link from the main page of the site leads to the Bitcoin garden. There is communication with the bauntists and no one asks uncomfortable technical questions. This factor looks like an attempt not to attract the attention of geeks, who can quickly bring the project to clean water.
  3. There is no Github. No one is developing a product. Everyone is busy of collecting money. The founder honestly says that he has no idea when the token will appear on the exchanges and whether the regulators will allow him to do it.

Summing Up

The project is based on a useful and popular idea, ICO is designed as an excellent student. Nevertheless, the project looks strange: the great idea of a social network for truck drivers is mixed with another idea — a market platform for communication between shippers and carriers. Fashionable technological things like blockchain and smart contracts seem to be used only for hype. In fact, the project has nothing besides words and pictures. We put 0 out of 10.

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