Is Bridge Protocol just another ID ICO?

Bridge Protocol is an upcoming ICO that is launching on the Neo Blockchain. The Whitelist had ended on February 5th and the Whitelist only sale takes place on February 22nd. The premise of Bridge Protocol is to make the Know-Your-Customer (KYC) process simplified for other NEP-5 ICOs and for the investor. Well wait a minute...this seems oddly familiar to other competitors such as SelfKey, The Key, and Civic. While you might be saying that the identification space is getting overcrowded, here is why I think Bridge Protocol has a sustainable advantage over their competitors.

Product in use: Bridge Protocol has already assisted the highly touted Neo Blockchain ICO called Elastos. Many have raved that the process for the Elastos ICO went rather smoothly. This is a great sign to see they are working with Neo ICOs even before they release their coins to the public. It gives it a sense of value right out of the gate. They also plan to work with future Neo based ICOs and want to be the go-to option for all NEP-5 ICOs.

Under the Neo-Blockchain: Being under the Neo-Blockchain gives this company credibility since Neo is already a high quality Blockchain and only allows high quality projects to work under them and they are selective. Anyone can make a Ethereum based ICO and it wouldn't reach the same high quality standard as Neo would. While SelfKey is also under the Neo-Blockchain I do see future NEP-5 ICOs using the Bridge Protocol process to lower overall costs and because they have seen how the Elastos ICO went which gives it an established base. You can also use the Neon Wallet to house your Bridge Protocol NEP-5 tokens (IAM) which is a plus given that the wallet is easy to use and has a nice UI. Neon Wallet is by far my favorite hot wallet I have used and have never had any issues with it.

Potential Return on Investment: The hard-cap for the ICO is $25,000,000 USD which if it can capitalize on the market and its competitors such as Civic which had seen a Market Cap of $482,165,144. This would almost be a x20 Return on Investment (ROI) post-ICO for Bridge Protocol. I personally believe that Bridge Protocol can capitalize on the growing NEP-5 ICO space and will be the standard, but this remains to be seen.

Benefits to end-user: In this specific segment I will be focusing on the customer end-user which are companies that will be using the Bridge Protocol. The main benefit is reducing the legal costs of running ICOs and making sure they are regulatory compliant. Some ICOs are scams and will try to skip past all these legal fees because they don't care about the project or there just isn't a project. ICOs are very hit or miss especially if you are a noobie to the crypto space. Not many people know what they are really getting into. They will just jump into any ICO thinking they can instantly make money which isn't always the case.

If you want to learn more I encourage you to do your own research and to read the White Paper. It also doesn't hurt to join their telegram group to get apart and see how the community is.

**Note: I am participating in the Whitelist and am investing in this project

Sources:
https://www.bridgeprotocol.io/ (Bridge Protocol Website)

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