Opporty Review Project- Decentralized Service Marketplace
Opporty is a social platform for small and medium businesses. Using Opporty, companies can offer products and services to platform users, post and share content, find employees and effectively collaborate with other companies, freelancers and individual contractors.
Opporty is a decentralized platform focused on matching service providers with potential customers that will leverage blockchain to guarantee accurate reputation metrics, which are rife with manipulation by businesses in today’s marketplace. It will also offer decentralized escrow and automatic payment through legally enforceable electronic agreements, paid in OPP.
They also seek to leverage a proof of expertise model to vet service providers. This metric will be based on verification of real-world licenses and certificates, content written for Opporty’s knowledge base, responsiveness to customers’ questions in their Q&A section, as well as amount and quality of services rendered on Opporty’s platform.
Opporty will also offer multiple conduits through which customers and service providers can interact, including via web, mobile device, app or a chatbot. Depending on the amount of funds raised through ICO, Opporty plans to target the U.S. marketplace followed by the U.K., Canada, Australia and China.
PROS: High level of visibility, established multinational management team and advisory board with experience in blockchain, SEO, web development and international business, clear roadmap indicated for product roll-out, geographic focus and use of funds
CONS: Not a first mover in the marketplace which may lend itself to slow customer acquisition; will face significant competition in a relatively “hot” space, neither a disruptive technology nor novel business concept
An Opporty user can search for the best products and services on the local market, and also provide their services to companies.
– Clever Solution (https://clever-solution.com) – all additional services and support are provided by Clever-Solution. The company offers development and digital marketing services for start-ups, small and medium-sized businesses.
– Sead Muftic (https://www.linkedin.com/in/sead-muftic-7b35aa6/) – Technical advisor on safe information exchange in the blockchain. CEO in Blockchain Information Exchange Security Corp., founder and CEO of a company specializing in IT security, opened in 2000.
– SETECS Inc. Experienced businessman and entrepreneur (chairman, CEO, technical director of several start-ups, small and large companies). Professor of computer security (retired).
– Wulf Kaal, PhD (https://www.linkedin.com/in/wulf-kaal-6904a65b/) – expert on blockchain applications. Associate Professor at the University of St. Petersburg. Thomas School of Law, advises on the following topics: (1) new technologies and innovations (startup development, blockchain, smart contract); (2) finance and investment: hedge funds, crypto currency, ICO); law (corporate law, securities law).
– Serge Lubkin (https://www.linkedin.com/in/serge-lubkin-49a16528/) – Head of Sales at DS Outsourcing OU, CEO at Jointle (https://jointle.com/), co-founder of several projects (pantyhouse.com.ua, invitag.me).
– Michael Lapin (https://www.linkedin.com/in/michael-beginex/) – Founder of Beginex, product and UX consultant, event organizer (UX, hackathons, startups, VC), former management consultant. 8 years of experience in software / technology.
– Andrey Sarayev (https://www.linkedin.com/in/andrey-sarayev-91267826/) – Advisor on AI (artificial intelligence) and analytics, PHD (quantitative methods in finance). A quantitative analyst.
– Alexander (Alex) Komyagin (https://www.linkedin.com/in/adkomyagin/) – Security advisor. Senior Consulting Engineer in MongoDB. Has a variety of technical expertise in software development, network security and distributed databases
– David Treyster (https://www.linkedin.com/in/david-treyster-1a95b711b/) – Legal advisor. Managing lawyer for legal group Hudson, Professor of Business Law.
– Alex Bilichenko (https://www.linkedin.com/in/alexbilichenko/) – Advisor on Machine Learning & AI. PhD. A quantitative researcher at Teza Technologies, former Vice President at Goldman Sachs.
Richard Bohan (https://www.linkedin.com/in/richarddbohan/),
Sergei Logvin (https://www.linkedin.com/in/sergei-logvin-2914bb52/),
Dr Kalinchenko (https://www.linkedin.com/in/konstantin-kalinchenko-b545a44/),
Elie Galam (https://www.linkedin.com/in/elie-galam-85414b3/),
Marc Kenigsberg (https://www.linkedin.com/in/marckenigsberg/)
Tzvi Shishler (https://www.linkedin.com/in/tzvishishler/)
– $300,000 was raised in a SEED round in early 2016, details are not disclosed [Crunchbase].
Market and industry
– According to a report by the U.S. Small Business Administration in the United States, there are almost 28.8 million small businesses. Growth was 1.4%.
– According to the American Bar Association there are 1,315,561 lawyers in the US, an increase over the past 5 years of 9%.
– According to the portal Statistics: Number of working accountants – 400,000. (excluding the big four companies), therefore, there are approximately 35,000 small firms (in this calculation, a small firm is about 15 people). Projected growth is 15.2%. As for the logistics industry, the increase in 2018 will be 1.4 million people (93,000 firms).
According to the white paper: initially Opporty will appeal to lawyers, accountants and logistics specialists.
– There are 28.8 million small businesses in the United States. They account for 99.7% of all US enterprises. The potential market includes more than 40 million private companies in China and 23 million small businesses in the EU.
– Lawyers – there are more than 170,000 law firms and about 1,315,000 licensed lawyers working in niche areas (as of 2015).
– Accountants – there are more than 42,000 accounting firms (since 2014).
– Logisticians – a mass industry with more than 500,000 interstate freight carriers, about 10,000 freight forwarders and consolidators, as well as more than 150 container ship operators.
The company has a strategy for entering the market. In addition, there is a description of the marketing campaign. They have many partners in the press. However, as analysis shows, the growth in this market is very small, which indicates potential difficulties in the struggle for market share.
Engineering features of the platform
Opporty is built on the Ethereum blockchain and supports smart-contracts and escrow. The knowledge sharing system of Opporty will allow businesses to train their communities, share knowledge and experience and gain access. A self-regulating decentralized expert community will establish and approve the business standards in Opporty’s market.
The company has introduced a step-by-step strategy to develop technical aspects of the platform. The emergence of elements of gaming with the ability to earn tokens could increase user interest.
The following active blocks are represented in the open repository:Opporty has 2 open repositories – ICO (under development) and Escrow.
Project information is available on Twitter, Telegram, Medium, Facebook, BitcoinTalk, Steemit, Slack and YouTube. The team communicates with users on social networks and on the forum. The bounty program is open.
The project is working on social networks. The team answers users’ questions on Telegram and Facebook. Twitter, Facebook and Slack regularly update news.
The project is quite popular among users. There are many subscribers on Twitter (673 people) and Facebook (6 800). Users are interested in the project on BitcoinTalk. In addition, the website is widely supported by the press.
Does the Project Have a Use Case?
On the face of it, the project seeks to resolve a common problem faced by many small business and individuals as well. Many small businesses struggle to generate leads and even if they do, they find it difficult to manage their leads. The lead generation process also takes a very long time and involves a lot of expertise and cost as they need to engage specific teams who would help them with offline and online marketing as well.
In this aspect, they need to compete with much larger companies who are in the same space but which have much larger funds and resources than the small businesses.
On the other hand, there are a lot of individuals all around the world who are in need of various kinds of services like legal, accountancy etc. and they would like to have a platform to reach out to such people. So, the project does have a use case but the main thing that raises our doubts over the success of this project is the fact that the business model is quite similar to what directory listings and classifieds websites do all over the world.
These services connect the service providers and individuals at the click of a button. Of course, such websites are not on blockchain and they do not have escrow and self-regulated model as opporty but even in such a case, this project seems to be an extension of services that already exist rather than solving something unique.
Does the Team have Strong background?
The team involved is quite large with a whole set of developers involved in the project. The core team consists of the founder, Sergey Grybniak and the product manager, Katerina Sukhenko. They are supported by a 20+ team of developers, digital markets, QA engineers etc.
The advisory board consists of 16 people from various walks of life and some of them do have a strong background. The escrow board consists of 3 people who would form the escrow team for the payments to start off with.
Of course, as with all ICOs, it is the founders who should have the focus of attention of the investors, as it rightly should be.
Grybniak does not seem to have any connection with ICOs or blockchains so far in his professional career. His background is more into digital marketing and SEO and he has a business that does digital and internet marketing for other businesses. So, while this may be of use once the project is completed and they get into marketing, it remains to be seen how he will guide the development during the course of the project.
Sukhenko has the experience of working with Grybniak is his previous company and her experience also seems to be more in internet marketing. This project team seems to have the area of marketing very well covered, something which many ICOs fail to do, as they are too busy developing their projects.
The advisory board contains some good people might none who are much known in the crypto or the blockchain industry.
The fact that the project has a lot of developers should give confidence to the investors over the successful completion of the project as the team comprises of all specialists that are needed to complete a project successfilly. The team is also large enough to get the work done quickly as well.
The RoadMap for the Project
The roadmap is quite well laid out in the white paper and to their credit, they have already completed a large part of the project. They have a well laid out website which consists of the product where the service providers and the clients can enrol themselves and can work on an offer and request model. So, this is basically a large part of their proposed product and this is already ready and set up.
The other parts are the escrow system, which is also already in place, and the ranking of the users and assigning them with the right authority. The team has a complex algorithm to provide ranking to the different users and depending on their ranking, the level of access to the client varies. This ranking system is also decentralised and involves a lot of self-regulation to develop a robust mechanism for ranking the clients as some of them become escrow holders later in the life cycle. Hence, this part of the system is deemed to be very important.
Right now, the product is in Phase 1 and they promise to move into Phase 2, which will have a larger user base and a bigger feedback mechanism and would have AI involved as well, within the next 1 year.
For all kinds of payments and any kind of transaction, only the token OPP is used within the network. Also, clients are likely to earn bonuses along the way depending on their constribution to the community. The Opporty team earns commissions for each and every transaction made within the system. Hence, more the usage of the OPP token, the more likely that its value would increase.
With the major part of the product complete, the team feels that a large part of the raised funds would be used for marketing and expansion.
Overall, the ICO of Opporty presents a mixed picture with us favouring it in terms of their marketing strength and base and us having doubts with regard to their development capabilities. If the development turns out to be strong and with good customer support, they should do well.
They have the platform ready but how they handle scalability will be the real question and challenge. This is a very much people focussed platform and business that they are looking to carry out and hence customer service and support is going to be key.
The major points that separates them from others in the niche are the facts that they are on the blockchain and they have an innovative use of the escrow facility and customer review but unless the customer is satisfied with what they see, they are not going to stay for long.
So, considering their market strength, it may be wise to have a part of your portfolio invested in the OPP coin. There may be a dip in price when it comes to the market and the bonus coins are dumped but that should only be temporary.
Author : Isuk
Profile : Isuk
ETH : 0x237706bfE11D4C4E148b4764c8f7Da37743657d4