ICO Analysis: TenX - June 24, 2017

TenX will be ICO on June 24, following the information about this project:

What is TenX?

TenX slogan is " turn all property on every blockchain can use immediately ." Through the issuance of cards and bank licenses, TenX introduced itself as a hub for all blockchain ecosystems to connect to the real world .

TenX says that it has reached an agreement with VISA and Mastercard but can not make it official because the two companies can not currently confirm that they are working with electronic money .

The electronic currency of the system is PAY - a pretty name.

Users can use any asset on their blockchain, for example, Bitcoin, Ethereum etc. via the physical card issued by TenX or directly on the smartphone.

Currently TenX has a real product that you can download here https://play.google.com/store/apps/details?id=com.onebit.app - according to TenX this product will be the main officially LIVE soon as the ICO, if so this will be a huge advantage of TenX with rivals such as Token Card.

In the following video, TenX demo the ability to use Ethereum through the TenX tag:

About TenX ICO:

TenX succeeded in pre-sale and earned 100k ETH (equivalent to $ 35 million) - but this number has not been verified since there is no address of TenX purse.

Token Price : 1ETH = 350 PAY
Number of Token to be sold : 80%
Number of Token will be sold immediately : 51%
Number of Token will be sent to the community over time : 29%
Company holds : 20%
ICO Goal : 200,000 ETH
Token holders will receive 0.5% of the value when paying with the TenX card.

TenX card holders will receive 0.1% of the usage value.

Prizes for early ICO participants (in the first 24 hours): 20%

Under the Road Map, TenX will build the company with 250 members by 2020 , and that is the time when they can issue bank licenses , thereby allowing them to issue tokens. Represent real money (if this is true then this will be a huge step forward to introduce electronic money to the user)

The size of TenX's final product will depend on the amount of money they receive in the ICO , specifically:

Level 1 - 50,000 ETH

Level 2 - 100,000 ETH

Level 3 - 150,000 ETH

Level 4 - 200,000 ETH

TenX

TenX will issue its own wallet and it will be "multi assets crypto currency" (which may include many electronic currencies) that can be used with credit cards around the world.

TenX Technology

To accomplish its goal, TenX offers the COMIT protocol ( www.comit.network ) and all the blockchain (eg Bitcoin, Ethereum etc) will communicate with each other via this protocol.

In the short term, TenX will work with Bitcoin, Ethereum (along with other Ethereal token ERC20), Dash and many other currencies in the future.

On the side of the user, TenX offers DECENTRALIZED SECURITY
SMART CONTRACT (DSS) , with DSS, users can customize spending limits, withdrawals, etc. Through Smart Contract that no one (outside the users themselves) can change.

Platform billing for properties on blockchain

With the ability to connect blockchains to each other, TenX can connect all blockchain assets to the real world in a distributed form. Developers can develop Smart Contract modules and entrepreneurs can connect users and business-specific tasks to real-world payments.

TenX Development Team:

TenX was built in Singapore , in terms of past performance is not very prominent, in part because of the team of young people.

Among tenX investors, Vitalik Buterin of Ethereum is worth noting , but we have yet to find out that Vitalik directly invests in TenX, only to find that Vitalik is a partner of the Fenbushi Investment Fund and the fund. This investment for TenX .

Among investors are Bo Shen of the Fenbushi Foundation, who founded the team behind the development of Bitshares.

TenX and its members have achieved the following achievement:

One of the three graduates of the Singapore Incubator of Paypal https://www.techinasia.com/paypal-incubator-startups-first-cohort (2017)
One of the three winners of Singapore's DBS BLOCKCHAIN ​​HACKATHON https://www.coingecko.com/buzz/3-winning-hacks-from-the-dbs-blockchain-hackathon-in-singapore (2015)
Citigroup's Citi Mobile Challenge http://www.citigroup.com/citi/news/2015/151215a.htm (2015)
Thus, the TenX development team is competent, but it is important to note that two of the three achievements they achieved are from 2015. Their recommendation is not supported by BLOCKCHAIN ​​HACKATHON and Citi. Main or humanitarian support or just an image.

Conclusion : TenX has very high practical usability . Technically, the product was available (payment Ethereum on the wallet, whether in demo form).

TenX's idea is good, meeting market demand but not completely new, as TokenCard and Monaco have been doing.

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