Smart Startup Token ICO Review
Smart contracts for startups and small businesses.
|Company||Token Symbol||Token Type||Category||Total Tokens||Smart Startup Token||SMRT||Utility ERC-20||Smart Contract Machine||600,000,000 SMRT|
Official Website: https://smartstartuptoken.tech/
Economic Review: https://smartstartuptoken.tech/Economic-Review.pdf
Case Studies: https://smartstartuptoken.tech/CaseStudies.pdf
Pitch Desk: https://smartstartuptoken.tech/PitchDeck.pdf
Telegram Group: none
As part of this review, we’ll cover the Smart Startup Token, which claims to be a “gateway for smart contracts for startups and small businesses. We'll detail how the platform helps startups and small business owners, and the team behind the project, as well as its important features and token distribution.
So how does the Smart Startup Token work? And what benefits does it provide to business users?
On the Smart Startup Token website, the owners provide an analogy for its services: the Smart Startup Token works like a vending machine for smart contracts, with options for business formation, intellectual property, funding, trading, etc. Users select which smart contract they’d like to purchase and pay with S-SMRT tokens. Once the user’s payment confirms, the contract dispenses. Also, qualified developers are available to implement the smart contracts if difficulties arise.
The SMRT project intends to raise funds to turn this idea into a reality, transforming templates into automatically enforced contracts for startups and small businesses. The funds raised will be exchanged for SMRT tokens, which are both tradable and exchangeable for a smart contact the same way that an S-SMART is. This funding process is described under Page 2 of the Smart Startup Token’s Economic Review document, it defining it as a “crowdfunding forward” sale of tradeable tokens, exchangeable for smart contracts in the Smart ecosystem.
Smart Startup Ltd is a company registered in England and Wales with company number 11138923.
On the projects Github page, there have been 5 contributions made over the past year. There is no working prototype for the platform according to the SMRT project roadmap.
There is more to the SMRT project that we’ll cover later in this article. For now, let’s explore the problems that the SMRT projects aim to solve.
SMRT Project - Identifying the Problem
Page 3 of the Pitch Deck released by the SMRT identifies the problems the project will solve, stating that “The startup economy is worth trillions of dollars but a large majority of these startups and small businesses do not yet have the resources or access to the technological advancements of blockchain technology and the benefits that smart contracts provide.”
Page 2 of SMRT Project’s Economic Review also outlines the problems of most tokens and cryptocurrencies, stating that “the use of SMRTs moves the SMRT beyond a criticism that is levelled at many cryptocurrencies, that they have no intrinsic value or use.” The document also states that the value of cryptocurrencies is determined only by what someone is prepared to pay for them (perceived value) and that there is usually no business case or demand for these assets.
SMRT Project - Proposed Solution
To address the problems facing startups and business owners, SMRT will release smart contract templates that cover the most common contractual areas that startups and small business owners face, including shareholder and intellectual property rights. Additionally, the project will also cover finance and trading agreements, including peer to peer lending.
The transferability of SMRT tokens to smart contracts means that they are backed by a real product with underlying value. This also means that the tokens have the same value as the demand for the smart contracts: if the demand for smart contracts increases, so will the value of the tokens.
In short, the SMRT ICO claims to offer an opportunity for existing holders of cryptocurrencies to diversify their portfolio with those that have intrinsic value. SMRT defines this diversification as a “defensive” holding, claiming that “most holdings are speculative in the purest sense,” and that “as long as there is demand for smart contracts, SMRT tokens provide a store of value.”
SMRT Project Roadmap
The following roadmap can be seen in the Roadmap section of the Smart Startup Token Website:
- Crowdsale completion
- SMRT platform development
- Primary SMRT smart contracts development
- SMRT Blockchain Explorer v.1
- SMRT token exchange listings – ongoing
- SMRT network API development
- Additional SMRT smart contracts
- The SMRT wallet v.1
- Blockchain events, partnership building and strategic networking – ongoing
- Platform release with integrated smart contracts – Smart Vending Machine
- Delivery and integration of SMRT token and contracts to committed platforms
- Whitelabel SMRT wallet – for integration with third party platforms
- Additional whitelabel smart contracts
- Recruit new platforms and marketplaces as providers of SMRT smart contracts
- Establish a network of customisation specialists to service platforms
- Marketing/promotional global strategy and implementation
SMRT Project Token Sale
Pre-ICO Token Hardcap: 90 Million SMRT
Pre-ICO Hardcap: USD 12.6M
Pre-ICO Start: Saturday 24th March 2018 2pm UTC
Pre-ICO End: Saturday 21st April 2018 2pm UTC
Cost per SMRT: $0.21
Crowdsale Hardcap: USD 40.4M
Total Hardcap: USD 53M
Distribution of Tokens
SMRT Token Allocation
Pre-ICO Fund Distribution
Crowdsale Fund Distribution
SMRT Token Team
Simon Krystman: Entrepreneur and Founder – Simon is an entrepreneur with a passion for digital innovation. He recently launched a suite of products for intellectual property, crowdsourcing, and network building.
Prof. Alan Barrell: Alternative Finance, Formerly an Entrepreneur in Residence Judge Business School – Alan worked as a Chairman and CEO of large multinational companies and smaller technology startups.
Dr. Syed Kamall, MEP: Government and Regulation – Syed is a member of the European Parliament and a blockchain and cryptocurrency enthusiast. He hosted events like the Virtual Currencies and Blockchain Exhibition.
Prof. Glen Parry: Blockchain and ICO – Glen is the professor of Strategy and Operations Management at Bristol Business school. He is the leader of a 9 million Euro European Integrated Logistics for Innovative Product Technologies Project (ILIPT).
Kelsey Paulding: ICO and Regulation– Kelsey is an APA at the European Parliament, bringing a unique blend to the team’s strategic focus of working within the regulatory framework.
Flint Sperber: Economic Model – Flint is a respected derivatives trader who was Head of Energy Operations at Credit Argicole and Head of Commodity Trading Desk at Mitsubishi UFJ Securities.
John Nevard: Intellectual Property – John worked in intellectual property for over 30 years and had experience in all aspects of IP, making him invaluable in creating the project’s smart contract templates.
Maria Kolitsida: Artificial Intelligence – Maria is experienced in strategy and innovation, based on emerging technologies and scientific trends. She also leads innovative and multidisciplinary research programmes in the fields of cognitive computing, social neuroscience, neurolinguistics and behavioural analytics.
David Blair: Legal, Compliance and Regulation Advisor – David held roles in legal firms that deal with financial regulations, advising the UK Crowdfunding Association and other European Crowdfunding Networks.
Anne Cantelo: PR and Communications – Anne is the founder of Onyx Media and Communications co-founder of the Global collective, a network of boutique PR agencies. She has over 30 years of experience in communications for international organisations.
SMRT Project Conclusion
SMRT project offers a solution for startups and small companies to leverage blockchain and smart contract technologies. Its platform can help reduce costs and improve efficiency for business processes, dispensed from an easy to use interface once the project goes live.
For investors, the SMRT tokens provide a practical value as they are tied to the smart contracts themselves, providing a real world use case for the tokens. The fact that the tokens claim to have intrinsic value could help diversify an investor’s portfolio and could increase their value in future if the project is successful in attaining customers and increased demand.
In short, the SMRT Project is the first of its kind as a decentralized smart contract machine, with the smart contracts customizable to streamline the most common business processes and workflows using blockchain technology.
Visit smartstartuptoken.tech for more information