What makes SID different: SID has a proven patented technology that was tested at scale by integrating it inside the App of a franchise of Dunkin Donuts covering the whole region of Spain, called Dunkin Coffee. This was a success, resulting in a positive impact for Dunkin Coffee who were then keen to continue their association with SiD Limited. So in this case we are speaking about an ICO that has a working product even before the ICO launch.
Apart from the local project I just mentioned, in February 2018 they released the first SID branded APP on both App Store and Play Store.
Token utility: The SID Token is strictly a utility Token as its use is to provide the Token buyers with a specific utility of paying for internet shared by other users on the SID platform or receiving Tokens for the internet shared towards other nearby SID users. Also, the Token is intended to pay for transactions on the SID network.
For those who will not be willing to pay or will not afford to pay for the internet access, the team at SID has developed a solution: they will be able to consume some ads in order to receive some tokens. They say this business model is intended to help the poor access internet and in the process.
Actual partnerships or strategic relationships with other companies or organizations: I noticed that SID now has on board the IcoBench top 3 advisors: Vladimir Nikitin, Simon Cocking and David Drake of LJD Capital. I also noticed Christian Nyborg, a more traditional entrepreneur, who co-founded MasMovil (now quoted on the Madrid stock exchange with a market cap of around 1.8 Billion EUR)
Also, they are now in talks with another large retailer that owns gas-stations and hotels to use SID technology to improve their customers internet connectivity.
Raised funds usage after pre-sale finishes: Well, this is interesting. I asked Jose Merino (Chairman & Co-Founder of SID Limited) about the use of funds and he told me that 80% of the funds will be used for growing the company and the other 20% for “more exciting ideas”. As this was clearly no professional answer (or at least not well-documented), I went to their so-called whitepaper (no whitepaper in the menu of the website, just a whitepaper summary to be downloaded), I had a surprise to see that the total use of funds sums 101% ?! Here is a screenshot from the whitepaper:
As a conclusion, here are TokenCouncil’s ratings:
Project idea: 10/10
Token utility: 8/10
Partnerships/real world usage: 5/10
Overall media buzz: 5/10
Communication channels and openness: 9/10
I gave some overall good ratings as I believe the project has a good idea with a real-world usage and it somehow also has a humanitarian side (offering free internet in exchange of watching ads). I am not a big believer in this humanitarian thing as nowadays you can manage to find free internet almost anywhere. The biggest problem would be to afford a device that you can connect to the internet with, IMO.