ICO Review: Harness Investigative Data with Global Spy

Global Spy are aiming to provide a next-generation research platform whereby investigative data can be efficiently and securely purchased and sold. The solution has particular resonance in the research heavy crypto space- with various applications specifically catering this market- but has potential applications far and wide, for any industry which could utilise investigative data. Knowledge is power, as they say, and a platform for the exchange of quality, reliable research data would be a blessing especially in our Wild West of a market.

Problem & Vision

Our industry is currently suffering from a huge burden going a long way to preventing confident mass adoption: scams. Scammy/ ‘pump and dump’ ICOs make up shocking percentage of those being carried out at any one time, and this gives fuel to the fire of the mainstream crypto-misinformation who often cite certain scam ICOs in an attempt to tar the whole space with the same brush and presenting a negative perception of the space. But the truth is we DO have a HUGE problem with such scams.

The real question to explore, if we want to solve the problem, is why? The answer is a lack of reliable data or adequate research from the participants- they either didn’t research the project well enough to identify the scam, or the information they were using was deceitful/ incorrect.

The investigations industry itself suffers from a problem in the form of an outdated model in which the resulting data is not effectively utilised. Traditionally, a party finances an investigation in order to gain valuable data for their specific purposes- and have therefore incurred all of the costs of the investigation themselves, but also are left holding quality data which would be of use to many people but with no effective means of transferring this data to prospective buyers.

Global Spy is attempting to provide a solution to this crippling problem, by providing a platform which incentivises those who have conducted research to share the data in return for compensation. This will allow wide-scale access to reliable and credible research information and will be an extremely useful resource in the arsenal of any potential ICO investor.

Global Spy’s Solution

Global Spy will offer a layered solution, whereby clients can decide the level of detail required for their specific investigation; for example an investigation into the CEO of a certiain company will not require the same amount of depth and research expertise as a fully comprehensive ICO and company investigation.

Initial products being released by Global Spy include:

1. Global Spy Platform Itself- Generally, the Global Spy service provides the ability to quickly receive reports containing accurate and complete information regarding: a chosen company, key personnel of the company, initial coin offer, team members, currency etc. and as mentioned at the beginning is useful in many industries, but the blockchain space is where it is sure to be most effectively utilised. Users will be able to purchase pre-compiled reports already completed, or can pay for Global Spy to conduct a brand new investigation, the results of which the user can then choose to offer for sale. This will allow for much more effective and reliable research, removing the fear and uncertainty inherently present in the process.

2. ICO Verification Program- The verification program is one of the upcoming product releases to the Global Spy platform, meaning deep analysis of a particular ICO in the following manner:
   -All team members are examined by means of know your customer (KYC).
   -Team Executive Members are checked for any connection to other companies / ICOs.
   -Team members CVs are analysed.
   -Verification of the ICO's legality and any necessary documents.
   -If all facts presented in the whitepaper and the ICO site are as they have portrayed, then the ICO/ company will receive a verification status.

3. ICO Verification Program Report Snapshots- Global Spy will allow consumers to purchase individual research topics covered in the full ICO verification program, at a cheaper rate. This way users can acquire specific data required, without having to purchase a full-priced full report.

The SPY token itself is the utility token of the Global Spy network which powers the ecosystem. SPY tokens will be utilised for financial transactions on the network (being the ONLY accepted method of service payments, increasing demand), enabling the use of smart contracts to make payments more efficient than with traditional systems.

Team

Snapshot of the Global Spy team. There is a description of each team member on the site so that’s a great place to start if you want to get to know the team a bit better: https://www.globalspy.eu/

Anybody can write an impressive whitepaper and create a persuasive website; the idea is the easy part, it’s implementing the idea which is difficult. In the Wild West of crypto, ensuring that the team has the experience and capability required is crucial.

The Global Spy team are relatively small but make up for it with a varied combination of practical experience in relevant industries such as investigations, open source development and even law enforcement. There are no LinkedIn profile links, but most can be found if you search the team members’ name directly. There is, however, a description of each team member on the site so that’s a great place to start if you want to get to know the team a bit better: https://www.globalspy.eu/

Crowdsale Details

• Total Tokens: 170,000,000 SPY Tokens,
• Public Sale Tokens: 150,000,000 (88%)
• Token Price: 1 SPY = 0.0002 ETH
• Token Sale Start Date: ACTIVE CURRENTLY

Taken from the Global Spy whitepaper (pages 13 & 14): https://www.globalspy.eu/downloads/global_spy.pdf

Verdict & Summary

The space is certainly missing a central point of exchange for investigative data, after all research is carried out by the original party for a specific reason, and others always also find value in the same data- why not increase the amount of credible and useful data readily available, in return for compensation for the seller? Knowledge is power, and in this model of incentivised data exchange ecosystem, both buyers and sellers benefit.

The crypto space is at once tremendously promising- with many revolutionary applications for various industries- yet incredibly treacherous, with a huge capacity for scams and unreliable information. A solution such as Global Spy would do much to benefit the space with the mechanism required to more effectively, and more profitably, share investigative data on relevant industry areas. Having widely available public access to a marketplace of reliable information will make the crypto space less uncertain for adopters, and less profitable for scammers and ‘pump and dump’ ICOs currently burdening our industry.

Benign actors in the space would benefit all-round, and Global Spy might become an important cog in the machine to prevent scams and provide more reliable data within the crypto market, making the space more appealing to the masses in the process. Features such as their ICO verification process also promise to improve industry confidence and empower the potential investor.

Have any questions regarding Global Spy? Join their active community on Telegram where you can discuss anything Global Spy-related: https://t.me/globalspydiscussion

Learn more at their website, where you can also find their whitepaper if you want to dig in deeper: https://www.globalspy.eu/