[ICO Review] OPEN Platform - Building Your Own Payment Application.

What is the ICO Open Platform?
OPEN Platform is a platform for developers based on Blockchain technology to focus on providing payment infrastructure for major developers to take advantage of the capabilities of this distributed technology.

Project Information ICO Open Platform:
Project Name: Open Platform
Token name: OPEN
Total supply: 1,000,000,000 OPEN
Circulation: 500,000,000 OPEN
Hard cap: $ 30 million (ICO participants receive 50% of total supply)
Conversion rate: 1 OPEN = $ 0.08
Presale: Presale is going on
Token: ERC20
Countries excluded: no restrictions.
Token Distribution Date: Not updated

Purpose, project role
Open Platform seeks to create the first blockchain billing platform for applications; bridging the gap between payments on the string and the back-end application phase. At the same time, Open seeks to empower application developers by allowing them to use any language they feel comfortable through the Open API infrastructure.

"Fill in the blank space of the application billing platform required for the application to communicate the payments on the string with the app annex. All in one. Accept, transfer payment data, verify, authorize merchandise for applications, both ways in and out with minimal blockchain knowledge. "

Allows developers to:
Accept e-money in their applications while allowing them to update their backend program in pre-emptive centralized transactions.

Application payment processing (e.g., one-time purchase, monthly subscription, in-game currency) accepts electronic money.
Monitor, verify and allow users to use / buy on a blockchain.
Update the application layer and database by creating a developer-friendly API.
The open platform will allow developers to tap into a $ 300 billion distributed market through electronic money.

This project will basically allow applications to accept payments in a variety of electronic currencies at much faster speeds than current technology allows.

Developers can use OPEN to transfer their applications to any blockchain.

What does the project overview do?
The open platform makes it easy for applications to integrate and accept electronic payments as a payment.

There are some open source builder components, such as Scaffolds, OPEN_states, OPENWallet, and Developer Wallet.

Scaffolds Scaffolding is blockchain agnostic, the smart contract structure will generally function as a payment processor. They can be tailored to fit the billing model of the company (for example, subscription billing models, one-time payments, in-game payments, etc.), and many add-ons for the bar system. blockchain.

Depending on how the scaffold is set up with the program, users can pay for the service or currency in the game and vice versa, they receive OPEN_state, denotes access to the promised service or number. The currency in the game that the person has.

OPENWallet is where the user's cryptocurrencies and OPEN_states are stored. This wallet is then used as the access point for any program they are using, depending on what the OPEN_state represents.

The developer's wallet is where money is paid into a scaffold. Will use the OmiseGO SDK, giving developers the flexibility to choose the type of money their wallet will receive.

They suggest that these components work together, together with an easy-to-use API, to provide applications, developers, and businesses with a useful blockchain billing system.

How Token Works
The OPEN Token will be used in a number of ways including Scaffolds Scaffolds (Token Scaffolding to run a scaffold to prevent bad behavior), payment for online purchases, and the promotion of community participation. via airdrop from the developer pool.

Token prices will appreciate if enough developers and businesses see this platform add value to their infrastructure.

Depending on the amount of fake card requests for a given scaffold, if enough scaffolding is being established that is proportional to the number of types of payments that people are hoping to achieve, the demand will be proportional. the response.

How to distribute the token?
50% Sold to the public
20% for developers at the lake (reward for recruiting the right developer)
20% Main Team (For)
10% Retained

Roadmap for project development
Q1 / 2 2018 - Open TestNet MVP, Open "TestNet MVP" Complex Application, OpenOffice Design OPENWallet, Release SDK 1.0.
Q3 / 4 2018 - Open Direct 1.0 (in July), Open SDK 2.0, Release Open 2.0 (December).
Q1 / 2 2019 - Create the OPEN block and update to Open 3.0.

Team
The open platform has a team of 10 people with the following core team members:
Ken Sangha, CEO - More than 9 years of experience as a business leader, most recently founder and CEO of DoublePlay Entertainment Inc.

Andrew Leung, Technical Director - Over 10 years of experience in software engineering with the most recent film TribalScale as Technical Director.

Abishek Punia, Leadchain Lead Developer - 4 years financial experience with more than 1 year in blockchain programming and development.

Chase Smith, Chief Architect - More than 3 years of experience in research and development, most recently Diligence Engineering Officer at Veritas due Diligence.

Dustin Sinkey, Leading Intelligent Contract Engineer - More than 6 years of experience in the field of financial software development.

Dennis Lewis, Marketing Director - Over 30 years of marketing experience with a recent presence with icosuccess.com and Suchapp.

The team also has four core advisors, including Will Bunker, former president of Match.com, Lorne Lantz, a Paypal partner, and John Gardiner, who contributed to the Messenger games and applications on Facebook and Chandler. Guo, a good investor.

Comment
Plus mark
The open platform allows applications to easily accept different types of electronic money, which can promote the importance of electronic money.

The project helps developers easily integrate their existing applications as it automatically updates the database. This saves developers time and is the main difference factor compared to other payment processing projects.

Because the Open Platform can be used by any application, the project will be frequently referred to when the platform collaborates with more applications.

Minus points
Almost all existing apps are listed on platforms like Google Play (for Android) or the App Store (for iOS). Those apps will not be able to integrate with the Open Platform directly because they accept payment through Google / Apple.

If the Platform serves decentralized applications (dApps), there are other protocols that allow for easy electronic money transactions such as Kyber Network and 0x.

If Open Platform is more widely available online, there are many other projects that focus on online payments using electronic money (Coinbase, Shapeshift, Coinify, CoinPayments, Cryptonator, Monetha, UTrust).

3% of each transaction is used as a kind of gas charge, which will form a development tank of the developer. What makes Open Platform so expensive is using Visa or MasterCard. One of the main advantages of dealing with electronic money is the small fee, but this is not the case when trading using the Open Platform.

Short-term investment
Normal. Large capitalization of $ 30m is high in this market and at the current price of ether. I do not see anything particularly outstanding about this project.

Long-term investment
Normal. We see three areas for the Open Platform (targeting existing apps, broader online merchants, or dApps), with no compelling elements. In addition, a 3% transaction value to fund the Developer Growth Pool is high for applications, making it less attractive to use the platform.