BlockBits initial coin offering (ICO)

Decentralized investments



Blockbits provides innovative mechanisms such as safe funding vaults and secure milestone based payments. The platform offers to both investors and project owners investing tools and minimal to zero fees. Our platform is designed to become fully independent, maintained and governed by its own token holders. Blockbits itself is launched through the very code submitted here as MVP. It is not a Venture Capital Fund, nor an Investment Fund. It is a platform where you launch your project and the community is going to be the one moderating the content. Welcome to the smart company of the future! Never tired, no bias just code, autonomous platform distributed throughout the blockchain, mutable only with its community approval, always ready for the innovative ideas of tomorrow!

4.4
31 31 expert ratings
2.3
3.7
4.4
3.9
View rating distribution
Starts in 1 year ago
2018-03-10 - 2018-05-01
Token
BBX
Type
ERC20
Bonus
Available
Price in ICO
1 ETH = 7,000 BBX
Platform
Accepting
ETH,
Soft cap
5,000 ETH
Hard cap
35,000 ETH
preICO start
Feb 4, 2018
preICO end
Feb 28, 2018
ICO start
Mar 10, 2018
ICO end
May 1, 2018
More on ICO
Report

About BlockBits ICO

BlockBits DApp is not just another crowdfunding platform, it’s the innovation that sets the standard of what the ICO market urgently needs to become: safe investments and legitimate projects. For the first time investors can decide if they keep backing a project or take their money back.
The platform provides innovative mechanisms such as safe funding vaults and secure milestone based payments and is designed to become fully independent, maintained and governed by its token holders. Blockbits is launched through the very code submitted here as MVP.
Welcome to the smart company of the future! Never tired, no bias just code, autonomous platform distributed throughout the blockchain, mutable only with its community approval, always ready for the innovative ideas of tomorrow!
Be part of the change! Stop gambling! Start INVESTING!

BlockBits reviews

Mofassair Hossain
CEO and Founder Perhalic, ICO Advisor, Investor, PR and Marketing Expert
Rated on Feb 8, 2018
3
5
4
4%

team need more top advisors who successfully conduct many ICOs and lead them to the path of success

Richard Kastelein
ICO Advisor, 50+ ICOs since 2016, Founder and Publisher of Blockchain News, partner Blockchain Partners, founder Cryptoassets Design Group
Rated on Feb 8, 2018
4
5
4
5%

I like the idea of funds being released on meeting milestones. I think this is hugely important.

Purushotham Maralappa
ICO Adviser |Blockchain Community Manager | Business Analyst
Rated on Feb 8, 2018
4
5
4
4%

Innovative idea of giving control to investors in ICO investment and releasing fund on reaching milestone. Need to add few more advisors from Finance and VC background.

Igor Salikov
"Love Is Forever When It's Written in the Blockchain"
Rated on Feb 8, 2018
4
5
4
2%

Investment with moderating, very good idea.
Put more information on you ICObench profile. Your overall score will be better. Advisors from previews successful ICOs needed.
Good luck!

Rick Tapia
Blockchain Advisor and Consultant
Rated on Feb 8, 2018
4
5
5
4%

Truly innovative idea that will allow for much-needed transparency in the ICO world. If accepted, this project could become the new benchmark platform for ICO's to be ran through. Investor enthusiasm for this project could be massive as well. Team just needs a few more advisors to help compliment it.

Ilya Orlov
CEO and co-founder of TravelChain | Visionary | Blockchain enthusiast and investor
Rated on Feb 8, 2018
4
5
3
3%

Agree with Richard about Milestones, but Yagub is right about the product, need to see more

Paul Mears
ICO investor, cryto trader
Rated on Feb 8, 2018
4
4
4
5%

Idea is good and the milestone and ability to accept progress is very good concept, but I think can have mixed response. Contributors may like it, founders will not so may hinder projects coming to the platform. Woudl be good if all founders accepted this , but of course unlkely. Like the full roadmap , but think that the timeline is quite long if significant funding recieved and may be beat to the market by others at this pace. I woudl look to accelerate this. Overall , I like it

Tyler Sanford
Blockchain & Marketing Consultant | Community Management
Rated on Feb 8, 2018
5
5
5
5%

Awesome team with a huge application in the cryptospace.

Goldman Armando
Competitive Intelligence, Trader, Futurist
Rated on Feb 8, 2018
5
5
5
1%
Pavlos Tzegiannakis
Co-Founder of CORE, ICO advisor, Passionate Investor
Rated on Feb 9, 2018
4
5
4
1%
Simon Cocking
Editor in Chief, Cryptocoin.News
Rated on Feb 9, 2018
3
3
3
4%

It's an interesting idea - the challenge will be to gain traction. Re the team it would be good to know a bit more about them.

Douglas Lyons
Board Advisor- Early Adoption and Strategic Partnerships
Rated on Feb 9, 2018
3
4
4
5%

I think the team could be strengthened by the addition of both industry and ico advisors.

Dr. Mihaly Kertesz
COO, strategist
Rated on Feb 9, 2018
4
5
4
2%
Ian Kaplan
Attorney/ CryptoCurrency Consultant
Rated on Feb 9, 2018
3
5
4
2%

I agree with the other people who mentioned that there should be more advisors added to this project.

I think this seems like an amazing project. I like the ability to stop funding a project, and funding in milestones.

Jan Schets
ICO advisor | CIO | Blockchain Consultant | Early Crypto Investor
Rated on Feb 10, 2018
4
5
3
4%

Absolutely great idea. Get some proper transparency into the current ICO scene.
Vision deserves a big 5.

Team is relatively unknown but I dont see that as a major hurdle. The idea that every project needs top business adviser or people that have successfully conducted an ICO is silly, the whole point of ICOs is that you dont need to follow the same 'rules' as for VC investing.

Some more detailed descriptions of how the product will work exactly could be useful though, hence the 3 for product.

Farabi Shayor
Marketing Professional | VR Research Lead | Cryptocurrency Specialist
Rated on Feb 13, 2018
3
4
4
1%
Regnard Raquedan
Co-founder at RQDN Labs, Author, ICO Investor
Rated on Feb 13, 2018
2
2
2
1%

This ICO promises to reduce the risk for investors but is not clear on how they would do that. There's more to risk reduction than just keeping track of progress and accomplishing milestones. What are the criteria?

They are also coming up against a very competitive field. I did not see anything that will help them stand out from an already crowded marketplace.

I would caution anyone thinking of joining this ICO.

Kirill Kazakov
Advisor, marketing strategist, ICO consultant
Rated on Feb 11, 2018
4
5
4
2%
Andrey Zolin
ICO Advisor | CTO | Smart contract RD
Rated on Mar 17, 2018
4
4
3
3%

Good idea. I think you should describe more opportunities

Arthur Zubkoff
FinTech & Marketing Consultant
Rated on Feb 12, 2018
2
3
3
3%

Pros:
+ Fully open source
+ Relatively easy to read website/whitepaper
+ Tokens aren't released until milestones are met

Cons:
- Average team; investments platform but lacks people with financial background; no partners
- No online demo; since the code is open-source, extensive technical documentation is expected and should be easily accessible
- Financials distribution is a bit vague; highly competitive market

Alex Chang (Chia Ming)
CEO of TimeBox | Serial Entrepreneur | Expert of Blockchain, Gaming, ICT Industry In Greater China and Northeast Asia
Rated on Feb 12, 2018
4
5
4
3%

Love the idea! Please make it work ASAP!

Vytautas Kaseta
Distributed crypto systems generalist, Social hacker, Next Reality visionary
Rated on Feb 12, 2018
3
4
4
3%

Average team, needs more credible advisers.
Good vision and very much needed solution.
Lots of challenges ahead.

Brian Heinen
Blockchain Solutions Advocate & Strategy Advisor | Founder of Blockchain in Europe LinkedIn Group
Rated on Feb 13, 2018
4
5
4
2%

I like the idea of holding funds until milestones met. Anything to help clean up the FUD of ICOs

André Siegert
ICO and Business Advisor - Token Economics, Financial Evaluation and Business Strategy
Rated on Feb 13, 2018
3
5
4
2%

The idea is good and indeed a much needed requirement in the market to mitigate speculative investments and fraudulent ICOs. This could potentially contribute to the market's value proposition and confidence in ICOs. Beneficiaries would not only be investors but equally the projects themselves due to the potential reduction of heavy dumps for quick money once the trading of the coin starts.

Yet, specifically for a platform which is meant to "supervise" the funding process, I see some potential in rounding the team's expertise in regards to finance and economics either via advisors, core team members or partners.

Channeling payments and investments back and forth certainly requires partnering with well established payment gateways.

Overall good idea and quite well thought through at first sight in regards to setting the right incentives for investors as well as project owners.

Dr. Rex Yeap
IP Blockchain inventor | Serial ICT inventor | Angel Investor | Quant | Educator | Meditator
Rated on Feb 15, 2018
4
5
5
4%

1. Love the project vision
2. Nice escrow-like feature designed into the Platform
3. A relatively small group of Telegram followers at this moment and the team may wish to identify suitable external marketing team to help out and subsequently rope in channel managers to cover different countries (eg. Korean, Japan, China, EU & US)
4. BlockBits Telegram channel: https://t.me/blockbits
5. Very ambitious project and I'm not sure at this moment if the team can deliver.
6. Best wishes for your ICO

I've posted some questions for the team in the Telegram group and may adjust the ratings depending on the answers.

My list of questions were:
Q1: Hope to have a preview of the some Blockbits related smart contracts
Q2: Under WP '3.1 Description', for "Platform testable risk indicators", what are the these indicators?
Q3: Under WP '3.2.4 Direct Funding Payments', who is the 'vault's owner'
Q4: Can the ICO participants view the content of the vault?
Q5: Under WP '3.2.14 Fully open source', for the github repository, to confirm if it will be privately shared our public
Q6: Under WP '4.1 Phase 1 - Proof of Concept', it's dated 'June 2017 - January 2018' with many deliverables. Woud like to have a glimpse of those deliverables (except the last 3 items)
Q7: When do you plan to hold the AMA session?
Q8: Would be visually helpful if you could indicate the estimated YYYYMM for 'Development Milestone 1' to 'Development Milestone 7': Doable?
Q9: There seems to be no one within the core team that have experience in the evaluation of companies for equity investments (eg. angel investment background)?
Q10: Who within the team will be coding the smart contracts, or is it external at this moment.

Responses (within 20mins of posting their Telegram channel) from Micky Socaci:
A1 - https://github.com/blockbitsio/smart-contracts
A2 - detailed in our documentation at https://docs.blockbits.io/project_risk/
A3 - The investor is always the vault owner, each investor gets one, no matter which funding method do they choose ( direct or milestone )
A4 - Yes all vaults are public, and a contributor can choose to validate their own vault on etherscan using ( https://github.com/blockbitsio/smart-contracts/blob/master/build-merger/FundingVault.sol ), since all of them are created by the FundingManager ( which is the contract factory, all must be the same )
A5 - https://github.com/blockbitsio/ project contains the 2 repos ( source code and documentation ) where everything we have is in source format, which includes diagrams / code / tests / forks of support projects like truffle and solc-binary, coverage tests and results, just about anything we could see as useful to anyone wanting to contribute to our project.
A6 - everything in this list is available ( except the mobile application which we are currently redesigning for better usability )( https://docs.blockbits.io/ page has urls pointing to these )
A7 - We are available for interviews any time, and for AMA sessions we are currently waiting for the community to grow larger for it to even make sense ( anyone can come and ask anything they need information about here )
A8 - the milestones are specifically estimated in days and not dates, because any can be postponed if issues arise ( postponing can only be accomplished through a proposal accepted by investors ), a more detailed roadmap for our project you can find it here https://docs.blockbits.io/bbt_roadmap/
A9 - The team is composed of co founders that have been in the software scene for 15-20 years, helping other companies achieve their goals. Some of us own small businesses and have come together to create a product that will help this space evolve into a safer market for both investors and projects.
A10 - part A of the smart contracts is already written ( upgradeable architecture, funding, milestones, voting, independent organization, code upgrades ), they're used for the actual funding of this project, and have been written mostly by me ( Micky Socaci ) with help from @Lynceus and Mihai ( @DoomBike ), as well as audited by the community.

My original score for Blockbits here was T3 V5 P3 and after receiving the prompt responses, it is now T4 V5 P5.

PS: Micky is clearly devoted to this project and with sufficient funding via this ICO campaign, I believe that he will be able to expand his team further to deliver this outstanding product.

Luke Szkudlarek
Growth Hacking ICOs from the heart of Crypto Valley
Rated on Feb 16, 2018
4
5
3
3%

This project addresses a big trust problem we see in the current ICOs, particularly more speculative projects, without any credentials or product.

So the vision is for sure ambitious and I can see that a solution like this will be required in the future.

The tech team is experienced and the technical documentation well prepared, I think these guys can deliver what they promised.

The product definition is quite weak and although probably a brilliant solution, it's badly explained and could add unnecessary complexity, e.g. "To achieve this, Blockbits relies on a set of smart contracts onto which we’ve built a complex ecosystem of rules and business logic." This makes me concerned if this will actually work.

Good luck to the team and Greetings from Zurich!

Jitendra Chittoda
Blockchain Architect | Smart Contract Security Advisor | ICO Advisor
Rated on Feb 16, 2018
3
3
4
3%

Idea is really good. Its almost like the same idea that Vitalik also suggested for DAICO.
Team needs to present their profile in detail on LinkedIn

Mike Raitsyn
Blockchain enthusiast, business angel
Rated on Feb 19, 2018
4
3
4
3%

I have a controversial feeling.
The team is trying to solve the huge problem, but from my point of view they are doing it wrong.

Basically, they are doing community-driven crypto escrow that is great, but I see a lot of problems on the road:
1) we don't need another crowdfunding platfrom, there are many and the biggest and the best projects will not use their platform
2) community will get tired really fast and they'll get stuck with a small number of core enthusiast with a risk of them becoming the decision-makers instead of supporters
3) no solution for fiat proceeds (10-90% by the way from my experience)
etc

Anyway, good luck!

Puneet Sondh
Investor with focus on emerging technologies- FinTech, Blockchains, TransTech
Rated on Feb 22, 2018
3
4
4
2%

I like the concept of contracts that brings transparency into the investing process. The vision is quite good.

The team has good technologists, however, there are no investment/financial specialists. This makes the team composition a bit weak for a product that attempts to bring transparency in the investment process.

Joao Reis
Investor
Rated on Feb 22, 2018
3
4
3
1%
PlumBot
ICO Analyzer Bot
Rated on Oct 1, 2018
0
0
0
12%


Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.

Ratings and ICO analyzer results are being updated (re-calculated) every few hours.

BlockBits ICO price

Price in ICO

1 ETH = 7,000 BBX

BlockBits (BBX) crypto

BlockBits coin

BlockBits token
BBX
BlockBits type
ERC20
BlockBits platform

BlockBits market cap

BlockBits market capitalization
$ -1

BlockBits investment info

Accepting
ETH,
Distributed in ICO
60%
Soft cap
5,000 ETH
Hard cap
35,000 ETH

BlockBits whitepaper

BlockBits team

Apply as an advisor

Alexandru Lazar

Emerging Technologies Enthusiast

Advisors

Sandeep Patel

Managing Partner

Advisors

Richard Johnson

Digital Consultant ( Security | Technology )

Advisors

BlockBits milestones

1
Development Milestone 1

WePower idea

2
Development Milestone 2

WePower idea

3
Development Milestone 3

WePower idea

4
Development Milestone 4

WePower idea

5
Development Milestone 5

WePower idea

6
Development Milestone 6

WePower idea

7
Development Milestone 7

WePower idea

8
PHASE 1 - PROOF OF CONCEPT

WePower idea

9
PHASE 2 - FUNDING

WePower idea

10
Phase 3 - Development Milestones

WePower idea

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