Decentralized platform for encrypted, censor-free, anonymous communications.
Skrumble ICO Overview
The Skrumble ICO and SKM Token are offering a new blockchain protocol specifically designed for building secure, decentralized communication channels. Along with the protocol, Skrumble are also launching a communication app leveraging the technology behind an existing product by their parent company.
To address the technical limitations posed by blockchain when it comes to the data storage and connection speeds necessary for real-time p2p communications, Skrumble Network have designed a hybrid product that combines both blockchain and rich media communication technologies. With no central host that can be censored or blocked, the Skrumble ICO offers a vision for a secure, global communication platform that is owned and operated by the community of users.
Skrumble ICO Value Proposition
There are three components to the Skrumble Network. The first is the underlying blockchain protocol designed specifically for facilitating decentralized communication applications.
Second, there is the decentralized communication app itself architected to penetrate firewalls and guarantee both user privacy and anonymity. The app includes a full range of features including messaging, video calls and file sharing.
The final component is a communication layer for developers to integrate Skrumble into external applications.
Three factors that set Skrumble apart as outlined in the whitepaper are:
- Skrumble Network cannot be blocked by conventional firewalls
- Skrumble Network has user-controlled record storage, and once deleted, data will not be stored on any server
- Superior encryption of every conversation, message and file. There will be no central point to block using a firewall because every user and every conversation is distinctive. This ensures complete anonymity, and unlimited access to Skrumble Network from anywhere in the world. Only in jurisdictions where all outside Internet access is blocked will access be limited.
The Skrumble Network utilizes an underlying utility token called SKM. SKM allows users to unlock premium features of the application such as the sharing and storage of large files. It is also intended to provide access to exclusive media content hosted via the application. Additionally, miners are rewarded in SKM for their participation in the authentication process.
Skrumble ICO Team
Skrumble Network is an ICO launched by an existing company called Skrumble Technology Incorporated. The team is large and includes a large line-up of programmers along with a business development and marketing team.
David Lifson (CEO & Founder): David has 30 years of experience in tech and business. According to his LinkedIn, he already has 4 exits behind him. His track record in both the telecom and tech industries is extensive. For the last 5 years, he has served as Founder and CEO of Skrumble.
Eric Lifson (Co-founder & VP of Marketing): Eric has 7 years of expertise developing strategic marketing initiatives with numerous Fortune 500 companies. Of those 7 years, Eric spent 4 of them with Cossette, a Canadian marketing company, before moving on to co-found Skrumble. Eric holds an MBA with a specialization in Marketing from Hult International Business School.
Michael Dabydeen (Lead Developer): Michael has been in the tech field for over 13 years. His past experience includes various roles as a Web Developer, Mobile App Developer, Software Developer and finally Full-Stack Developer with his last company.
The Skrumble Network advising team is comprised of some impressive figures who include Anthony Diorio (Co-founder of Ethereum and Founder of Jaxx Wallet), Jeff Pulver (Co-founder of Vonnage) and Jinius Tu (CTO of Aion) and
A full list of the whole team is available here.
Skrumble ICO Strengths and Opportunities
Skrumble Network’s parent company Skrumble Technology Incorporated already have an existing chat application. According to Co-founder Eric Lifson, there is a significant amount of crossover between the existing enterprise communication app and the dApp pertaining to both the UI and backend. The extent of the application user base though is unclear. On Google Play, there are only around 100 downloads.
The ecosystem development plan to onboard developers and organizations represents a worthwhile long-term plan for sparking growth on the protocol.
The team plan to launch an incubator for the first phase of scaling. Via the incubator, several strategic partners will work to build new product offerings on the Skrumble Network. Two examples in the whitepaper include a freelance marketplace and a virtual showroom.
Skrumble Network will also provide open source SDKs and API for anyone who wishes to leverage the protocol. Through provision of these resources and a token-based incentivization scheme, the team aim for developers to build further products and services on the network.
Skrumble Network ICO Weaknesses and Threats
Skrumble Network lay out a poignant case against the chat app industry giants. Telegram is now blocked in Russia, a vulnerability in WhatsApp was revealed last year and WeChat is openly censored by the Chinese government.
Yet people still predominantly use these messaging apps, even with the option of more secure alternatives at hand. Further, a range of fully decentralized, encrypted p2p messaging apps also exist.
There are of course several value propositions offered by Skrumble that set the project apart from competitors. Of the three key advantages cited on page 25 of the whitepaper the most enticing is number one – Skrumble Network cannot be blocked by conventional firewalls.
Any chat app that could breach the Great Firewall would be a game-changer. But the Great Firewall is no ordinary firewall and without any available code or product demo, this value proposition remains a purely theoretical one at that. We’ll believe it when we see it.
On the platform, the SKM token is utilized to access premium functions like large file sharing. As a token with a seemingly auxiliary role in the app, the value is contingent on not only the degree to which Skrumble scales their user base, but also how many of those users purchase the token for access to premium functions.
At this stage, it’s not yet certain which features exactly will require SKM for access. To build value into the token, Skrumble plan to work with external developers on integration of the protocol into 3rd party applications and, therefore, increase demand as the ecosystem expands.
In the end, the value of SKM rests on three assumptions; 1) initial adoption will be widespread 2) secondary integration will scale the project toward mass adoption and 3) user demand for premium features only available through the token will be high.
With little evidence toward the success of the first Skrumble app and supplementary role of the SKM token in the new iteration, those are three assumptions we aren’t willing to make.