Cryptocurrency review 5: Morpheus Network
Welcome to crypto review.
Here you can read about various cryptocurrencies, learn about them in depth. What they're trying to do, team, development etc.
The purpose of this post is to help every crypto enthusiast with investing.
Today we will be reviewing "Morpheus Network" , we will take a look at what they aim to do, team behind it, roadmap, general crypto info etc.
General Cryptocurrency information:
Name: Morpheus Network (MORPH)
Metrics (Block size, algorithm, fork, supply etc.):
Fork/Platform: ERC20 (ETH Platform)
Algorithm: Etash (ETH is used as gas for transactions)
(It was an ICO, here is some Token info from their white paper)
Token Distribution:
Strategic Partners: 3,350,000 MORPH
Bonuses For Token Sale: 9,000,000
Bounty Program: 650,00
Funding Team: 12,000,000
Advisory Board: 3,000,000
Pre-Sale: 20,000,000
Market cap: Market Cap: (at the moment of writing this post)
Circulation Supply: 24,878,165 MORPH
Total Supply: 47,897,218 MORPH
Daily volume (as of now): $940,835 USD
30 Day avg. volume: $16,313,995 USD
Rank on Coinmarketcap: #420 (as the moment of writing this post)
All time high: 0.82$ USD | 10827 Satoshis
Vision/Problem is solves:
The supply chain is very, very complex. It is one of the biggest problems for the big companies. Sometimes there are problems with the documents, funds are not received/slowed down, a lot of fees for transferring money around which then slows down the whole process and costs companies billions each year. Morpheus network tries to solve this problem, by utilizing the Blockchain technology on the Ethereum platform, using Smart Contracts.
What's Morpheus Network platform?
The Morpheus Network enables suppliers, manufacturers and exporters from around the world to receive their local currency in over 200 countries globally. Conversely, purchasing importers can send their own country’s currency to finance purchases in other countries. This is accomplished through integration with SWIFT which allows a direct transfer of funds into over 1600 banks. Therefore, the network allows any company or individual to complete any complex international purchase and shipment, no matter the scale of the transaction, smoothly, easily and instantly.
Let's compare Morpheus Network, Bitcoin and the Banks:
How long does a transaction take?
Morpheus Network: 2 minutes on average
Bitcoin: 45 minutes on average
Banks: up to 2 weeks
Fees for a 100$ transaction:
Morpheus Network: $98.80 USD
Bitcoin: $93.00 USD
Banks: $91.00 USD
We can see how much Morpheus can help with only transaction speed/cost.
How will Morpheus Network make money?
The fees for transactions is 1%, I'm guessing that will be used to fund the Moprheus team to continue to fund them and add different features to the platform.
Partnerships:
Social Media:
They are Tweeting out every week, Medium posts and I think right now, it's more about the landing partnerships/deals than just hyping up the project, yet. Their Telegram admins are very active, you get quick responses, can directly PM the admins.
Team:
Danny Weinberger is the Co-Founder & CEO, 15+ years of experience in Global Trade.
Noam Eppel is the Co-Founder & COO of Morpheus.Network 15+ Years Experience In Web Development & Information Security
Roger Crook is the former CEO of DHL, CEO Capital Springboard
Their team is really big and everyone is experienced in their fields. You can already know that this is a project that will be the one who will survive in the up coming years.
Product:
The product is being worked on. They first had to get the connections and talk to bank, manufacturers and suppliers in order to get them on board. Danny Weinberger (CEO) and Roger Crook (CEO of DHL) did a great video, where Danny demonstrates what you can do with the Morpheus platform.
The Test Network goes live in late 2018, September. As for the early access, it will be in November of 2018.
Exchanges:
Rating:
Total 10/10 (2 each)
Product 0.5/2
There's a place for this, as they claim Morpheus Network can save billions of dollars. They're partnered with DHL, FedEx, USPS etc. That means there will be millions of dollars flowing through the system every day.
But there is no product for now, this is a long term HODL.
Team 2/2
Social Media 2/2
Great Medium posts, Tweets are decent (can be better), maybe Tweet once a day to be more active. Telegram very active, videos like this.
Partnerships 2/2
I think this project has the best partnerships/connections yet. Biggest delivering companies, over 1,500 banks, supported in over 200+ countries and more banks/suppliers/manufacturers joining every single day.
Exchanges 1/2
A lot of small exchanges, no Kucoin (otherwise 1.5) but more exchanges are coming in soon. Binance is very, very possible since this project already has so many connections.
Total 7.5/10
If you liked my review, please give it a thumbs up and drop a follow! Also, comment down below what you think about Morpheus Network, their vision, team. Are you invested in it?
Have a great day everyone!
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