Spindle – ICO Review

Spindle has three primary goals:

1. Fair and Free Asset Management Platform – Spindle believes that a transparent and fair platform for investment and asset management is key to allowing individuals the greatest opportunity to improve their lives through investments.
2. Automated Credit Scoring – Credit scores are a ubiquitous part of daily life, and many different countries have different forms of credit scores from the Chinese central authority scoring system to the US’s FICO score. Spindle, through their Zeta platform, hopes to provide a decentralized, transparent scoring system that would prevent meddling or preferential treatment by states or other actors.
3. Post Decentralized Fundamentalism – Spindle doesn’t believe in decentralization as a goal in and of itself, but is willing and eager to use decentralization to build the other goals and plans on

The Spindle Suite

Zeta is the name Spindle has given to a series of programs and steps towards Spindle’s goals.

1. Monitoring and Reporting Service – Zeta’s first stage is a service platform for reporting fund information using a blockchain technique currently under development. In essence, Zeta will partner with cryptocurrency exchanges and funds and provide end-user access to fund profiles, transactions and reports for no charge to the end-user. This system allows for visibility and transparency into systems that are often opaque and poorly audited. This should increase consumer confidence and allow investor more information to make decisions with.
2. Unique Distributed Exchange – Far too many exchanges are still centralized and the losses and thefts in exchanges are well known to those familiar with cryptocurrency. Unfortunately, currently, decentralized exchanges struggle with transaction time and high fees. This exchange intends to develop a high-speed exchange in order to provide the user experience of a centralized exchange while providing the benefits of an decentralized one. Additionally, traditional financing scenarios involve one party placing trust for the management and investment of their money to another party. This can lead to increased risk for the investor and can carry a high cost in ensuring that the trust level is sufficient. Spindle proposes a system by which a user retains control of their assets but chooses to follow the actions of another user. This second user, an operator, would receive a fee from followers and would be paid in return for their performance.
3. Distributed Credit Scoring System – A dispersed, influence-proof credit scoring system will allow for a trustworthy and fair system for determining likelihood of repayment without authorities or gatekeepers providing undue influence on the process. The use of blockchain will prevent actors from changing or influencing the information, as it will be uneditable. This will allow end-users and lenders to have supreme confidence that the credit scoring is based on accurate information.
4. Automation of Credit Scoring – An evolution of stage 3, AI analysis and evaluation on the accurate transaction information gathered from blockchain. The idea of an accurate and detailed credit scoring that is transparent and not beholden to third parties will spur the growth of this stage. This should allow for a tremendous advantage over traditional credit reporting agencies and provide Zeta the leverage to become a critical part of the cryptocurrency economy.

Spindle ITO Details

• Token Name – SPD
• Total Token Supply – 10 Billion
• Supply for Private Sale – 2.5 Billion
• Supply for Crowd Sale – 4 Billion
• Soft Cap – 60,000 ETH
• Hard Cap Before Listing – 456,000 ETH
• Hard Cap After Listing – 1,125,000 ETH
• Token sale price – .00033 ETH

Bonus structure starts at 30% on the 9th of May and decreases by 5% each day until the 15th, when the bonus is 0%.

Unfortunately, users in Japan, USA, and China are not allowed to participate in this ITO.

Distribution of funds are as follows:

• 30% – M&A Strategy
• 25% – Technology Development
• 20% – Marketing
• 20% – Business Development
• 5% – Legal and Regulatory

The technical hurdles here are likely to be significant, so the focus of a quarter of the funds towards technology development indicates that Spindle has the right priorities.

Conclusion

Spindle, through their Zeta plan has a plan to improve the lives of average users around the world by allowing them to invest without the middlemen and barriers to entry that currently plague that process. From a crypto exchange to automated credit scoring, the entire Zeta plan will help to lift the fortunes of those who want to be able to interact in the crypto economy but can’t at the moment due to the barriers to the process. Every reduced barrier to entry significantly increases the market available to both Spindle and the crypto economy as a whole. Spindle’s view of SPD as a currency for the common consumer around the world, as opposed to a highly technical or specifically educated user is a great goal and the opening of the market here will likely drive value from multiple sources that might not otherwise be able to buy in.

The focus on European nations may also serve Spindle well, as the tendency of citizens of these areas leans towards independence and self-sufficiency, compared to some other cultures, so there may be more interest than there would be if this was only offered within Japan.

Links

ITO
Whitepaper