ICO Alert does not endorse or recommend participating in any initial coin offerings. ICO Alert receives a promotional fee for the production of this ICO Alert Report. Please click here for additional important information.
ICO Alert Quick Facts
- A unified digital ID for places and objects in real and virtual world
- $0.05 = 1 NVT token
- Pre-ICO: January 29, 2018 — February 28, 2018; ICO: March 1, 2018 — March 31, 2018
- 500,000,000 total available / 1,000,000,000 total supply
- Working app with 60,000 users registered and 1.5 million NaviAddresses assigned
What is NaviAddress?
NaviAddress, the first global addressing system which uses blockchain technology, thereby changing the traditional way in which we locate objects and people worldwide. It allows users to replace a physical address with a NaviAddress, a short sequence of digits. (I believe it is positioned to become the new global addressing standard; it’s already live and ready to implement globally).
A Naviaddress makes your life so much better: when traveling, finding a place to meet a friend, receiving a package — and on many other occasions too.
Rather than dictate a potentially complicated physical address over the telephone, a user will simply give a universally comprehended number (avoiding problems with different languages or alphabets) via a mobile or web application assigned to that physical address.
Naviaddress is the address for the digital era and globalized world — a world that is speeding towards the future with a legacy addressing system that presents a huge bottleneck.
— Dmitri Moiseev | CEO
Q&A with Dmitri Moiseev, CEO
ICO Alert: How does the NaviAddress token (NVT) function within the platform and why is it needed?
Moiseev: We plan to use tokens reserved for development of the platform and ecosystem around it in three major ways:
1) Incentivize local national partners to work with the platform by coinvesting with them into JV — we will invest our tokens (5–10%< of overall development fund of the JV). Sell premium country/regional containers of naviaddresses for Navitokens through auction to local partners (could be JV) with proven competence in the subscription business so that they will lend naviaddresses to local businesses for fiat and make money. The result of this transaction — all nominal price in tokens for sold naviaddresses will be BURNT by the platform while the premium — a difference between market price and nominal price will be retained by the platform as revenue. Our current forecast shows that 150 million Navitokens will be BURNT if the Platform sells 30 national containers of premium naviaddresses.
2) Incentivize big verified address holders (DHL, DPD, others) to share verified addresses with the platform. We will need NVTs to incentivize them to share.
3) Incentivize GIS experts to verify currently unverified addresses. So as you see, we need to have a quite sizable ecosystem development fund. Please think about that. We intend to play long term.
ICO Alert: How does the use of blockchain technology benefit your project?
Moiseev: The deployment of Naviaddress addressing system onto the blockchain enables the company to create and maintain a global decentralized database of verified and trusted postal/delivery and user-generated addresses, with no dependency on a single source and authority.
The platform will perform regular acquisition and verification of physical addresses, turning them into naviaddresses with embedded metadata (such as last mile navigation instructions, photo, contact information and so on), and provide access to them for the platform users. NaviToken (NVT) will be used as proprietary value and exchange medium for transactions with naviaddresses. It will provide secure, fast and cost-efficient transaction processing.
Once we migrate to Blockchain there will be obvious value in trustless and verified ID for users and biz users to transact over usernaviaddress. Furthermore, blockchain allows to Naviaddress users stay independent from us, as a central storage of their own meta-data. All the information, including contacts, pictures, last mile, web-site links etc, that is attached to naviaddress by its owner, is beyond our control. So, the owner of a naviaddress is protected from any kind of hostile or sloppy actions from our side or any third parties.
ICO Alert: What are some of the major companies that you think will benefit from your technology? Do you have any planned partnerships you would like to discuss?
Moiseev: For planned partnerships, please refer to our roadmap on the site. Talking about companies that will benefit from our technology: shipping and delivery service, postal services, as well as Uber and booking.com. Also, we aim to communicate with companies from HO-RE-CA sector.
ICO Alert: You’ve mentioned that your technology can be used for drone deliveries. What are your thoughts on future delivery services, like drones, and how will NaviAddress work with them?
Moiseev: We provide digital addressing layer over any digital map, including Google Maps. When we migrate our addressing system to blockchain, all naviaddresses, in addition to other features, will start getting verification by transaction between users and business users. Once a user’s naviaddress is verified and trustless, then any business (delivery, e-retail) and another user linked to our platform can transact with users location digital ID at almost zero transaction cost and reduced uncertainty. Our naviaddress platform acts as M2M, meaning that once the naviaddress is created and verified, the automatic delivery system may transmit the command to its drone to deliver goods using the 12+ digits navi.
ICO Alert: Is there any concern with the lack of scalability that the Ethereum network has? If the project encounters transaction speed issues, what possible solutions would you implement?
Moiseev: We actively follow the development of Ethereum and believe in this technology, but are also ready to launch our first version on a private PoA version, as do other projects.
ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?
Moiseev: Our roadmap is available on the site. We do not have hard/soft cap targets since unlike many blockchain projects, we are not a startup and need minimum seed funding to make an MVP. Our ICO target is $25 million USD. This is the funding we need to fund our migration to BC, industrial and national partners network development, and global rollout for the coming three years. We have had the addressing system working since the end of 2016, three apps (web, iOS, Android) working as interface with the system, 60,000 registered users, and 1.5 million naviaddresses assigned to users and businesses.
ICO Alert: As a non-NaviAddress question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?
Moiseev: We are investigating the opportunity to use state channels and off-chain calculations.
The Pre-ICO begun on January 29, 2018 and will end on February 28, 2018. The main ICO will begin on March 1, 2018 and will end on March 31, 2018. There are a total of 500,000,000 NaviAddress tokens (NVT) available during the Pre-ICO and main ICO, representing 50% of the total NVT supply. A hard cap of 25,000,000 is set for this period.
$0.05 = 1 NVT token
Current accepted currencies for NaviAddress include Ethereum, Bitcoin, and fiat currency.
NaviAddress is an ERC20 token, so it’s important that contributors use ERC20 compatible wallets to send funds to the ICO smart contract, and to receive the NaviAddress tokens.
Token Distribution Information
There are a total 1,000,000,000 NVT tokens being created, with 500,000,000 available during main ICO.
Contributors will have their tokens distributed shortly after the end of the ICO. Visit the NaviAddress website for more information and the contribution address.
500,000,000 NVT will be allocated for distribution during sale procedures
200,000,000 NVT will be allocated to the Platform Growth Fund, which we will administer to incentivize use of the Platform
200,000,000 NVT will be retained by the Company (*subject to NVT lock-up restrictions)
100,000,000 NVT will be allocated to the company’s management team and advisors (*subject to NVT lock-up restrictions)