dock.io (DOCK) Review – dock.io ICO Rating and Details.

dock.io is a decentralized data exchange protocol that lets people connect their profiles, reputations and experiences across the web with privacy and security.

Ticker:
DOCK

Token type:
ERC20

ICO Token Price:
1 DOCK = 0.0670 USD

Fundraising Goal:
20,000,000 USD

Sold on pre-sale:
12,000,000 USD (40% BONUS,
LOCKUP FOR 50% TOKENS
BY 4 MONTHS)

Total Tokens:
1,000,000,000

Available for Token Sale:
30%

 

What is Dock.io?

Dock.io is looking to establish itself as a data-acquisition platform for online recruiters that is verified by blockchain. In a larger sense, the platform’s goal is to decentralize the data being provided by users when they surf the internet. Currently platforms mine user data and it is used according to their agendas. Currently, the most popular apps that have access to personal user information are all part of a closed network.

This harms users because it can lead to inconsistent information about themselves – due to multiple accounts – available somewhere online. This inaccurate information could potentially lead to lost opportunities or undeveloped relationships. Furthermore, user data is often shared without their consent or knowledge. It can also be damaging to third-party apps because the majority of user data is controlled by a few platforms and they can choose whether or not to share it.

According to the roadmap provided by the company they began in July of 2017 and released their app on January 1st, 2018. The token sale is set to kick-off soon, though an end date has yet to be determined. Later this year the ICO plans to start partner integration, specifically with Remote.com which is where much of the teams comes from.

How Does Dock.io Work?

The platform would utilize blockchain technology to allow user data to flow in between all apps seamlessly so differing information doesn’t get stored and the verification process for users can be simplified. Unfortunately, aside from some graphs and quick explanations, there is very little detail offered regarding how the platform actually functions or looks at the app itself.

Dock.io can potentially be very valuable in areas such as human resources and recruiting. It can be difficult for job recruiters or human resource departments to get accurate, non-conflicting information regarding a candidate or employee. This can have a negative effect for the candidate or employee because false information is being transmitted to potential employees or business partners.

Features and Benefits of Dock.io

While the Dock.io website does not go into much detail regarding how it works, they do make sure to offer some benefits of using it. This includes giving user more ownership over their personal information and how it is being used. Users can transfer their work history, reviews, or reputation across different apps, making providing information about yourself more consistent and simple. The data is always updated across all apps together, so you can be sure that it is always up to date.

Signing up for new apps will be simplified as well, because information can be authorized and shared instantly. This also prevents the user from potentially giving conflicting information or having to keep track of what they shared previously. For third-party apps it is beneficial because they now have access to the same data information as larger, centralized platforms like Facebook or LinkedIn.

The platform also states that the more it grows, the more value will be delivered to everyone participating within the network, but it does not detail how this will be achieved, precisely.

The Dock.io Token Sale

The token sale for Doc.io is set to begin on February 21st, 2018 with no ending date having been announced yet. The only nation that is not allowed to participate in the sale is China. The tokens will be referred to as DOCK and will be distributed as ERC20. The total amount of tokens being created is 1 billion but only 30% of that amount will be made available during the token sale.

The fundraising goal of Dock.io will be set at $20 million and they state that they have already raised $12 million through pre-sale. No minimum or maximum contribution for the upcoming token sale has been set. ETH will be accepted as payment. 1 DOCK is equivalent to approximately $0.067.

Of the 1 billion tokens that are being created, 30% will be included within the token sale. Another 30% will be directed towards ecosystem incentivization. 20% will go to the team but will have two-year vest. The final 10% will go into cold storage where it will remain locked for two years. Unfortunately, there is not breakdown regarding how the funds raised from the sale are going to be used.

Who’s Behind Dock.io?

The co-founders of Dock.io are identified as Nick Macario and Elina Cadouri. Maracario is also the company’s CEO and has founded other companies like Remote.com and branded.me. He is from San Francisco. Cadouri serves as the company’s COO. She was educated at the University of California, San Diego where she received a Bachelor’s in economics and she also co-founded Outsource.com and Remote.com

The Chief Technology Officer is Stenil Duka. He attended the University of Massachusetts, Amherst and has served as CTO for Remote.com as well as a software engineer for MotiveMetrics. The lead blockchain engineer is Evgeniy Zabolotniy. He has worked a chief architect for branded.me and system administrator for Arces Network, LLC. The head of design is Todd Scheuring, after he worked as Senior UX Designer for HoneyBook. 12 positions in total are detailed through the company site along with links provided to LinkedIn accounts.

The advisory board is comprised of six people, including Charlie Shrem, a pioneer for Bitcoin and founding member of their foundation. He is tapped to advise on strategy, while some of the other areas being handled by advisors includes technology, fundraising, and marketing.

Conclusion

There is certainly some potential for Dock.io but we also have some concerns that we would like to see addressed. First and foremost, there is a lack of detail and information provided through their website, including the lack of a breakdown of how they intend to distribute the money they are raising from the token sale. Furthermore, Dock.io is mostly run by people who already hold similar positions with Remote.com. Its great that the team is familiar with each other, but it is unclear how much time they have to dedicate to developing Dock.io.

What may make some potential investors feel better is that Dock.io already has some partnerships lined up with places like Fund Request and their sister company Remote.com. The app had already been launched so investors can get a feel for how it functions and if the platform is practical and appealing.

The data management and identity areas of the market have been consistently growing over the last couple of years, and users are becoming increasingly aware of what they are sharing online. Offering a way to better control what personal information gets shared, Dock.io has some appeal, but we aren’t ready to declare that you should commit to it.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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