A review of the WHENHUB website, white paper (WP) and encompassing information was conducted by the team from CryptoCentral.io (CC).
A review of the Whenhub website, white paper (WP) and encompassing information was conducted by the team from CryptoCentral.io (CC). This process is going to speed up the process of the ICO by becoming officially certified by the CC team, with our stamp of approval.
By being ICO certified, potential investors will have the confidence they need to know that the ICO information has been studied, and a thorough investigation into the ICO was conducted. By showing the stamp of ICO certified, it will give extra credibility to the team, and entice investors to trust the team.
The investigation was conducted with utmost care, and is understood to be above what the average investor would conduct during a due-diligence investigation. All information from the website, WP, and provided information is taken as true and factual.
The modern day work environment is undergoing a radical change. As more people begin to do freelance and “moonlight” style work, the need to incentivize time is becoming increasingly important. A platform or market place in order to quickly let people know about your services is important and desirable by many freelancers.
Imagine, you are working on a project, and you just need a little bit of assistance. You say to yourself, “Man, if I could only talk to an expert for 15 minutes I would be able to figure this out”. In the traditional method of gaining help you would most likely put the project on hold, search for an advisor, then have to wait to get a time to speak with them, and then be billed for at least one hour even if you only talked for 15 minutes.
The Whenhub platform is going to be delivering a product that will solve these issues that were previously discussed. Whenhub will be bringing two major parties together – people who need the help of an expert, and the experts who are looking to monetize their time efficiently.
No longer will people have to wait in order to get in touch with an expert. With the Whenhub app they will be able to see if their subject matter expert is online, and book a time to chat right then and there. With an easy video or audio chat, an entire problem can be fixed and cleared in as little as a 15 minute payable block.
Subject matter experts will also be able to capitalize on their time more efficiently. If a consultant is delayed in an airport for a few hours, they can easily log into the platform and offer some guidance, and receive a financial benefit for time that would have otherwise been “wasted”.
White Paper Review
The WP reviewed was WhenHub – Connecting People with Time.
No information or consideration will be given concerning grammar or spelling, unless it is extreme.
One of, if not the, most crucial pieces of information that an ICO can give potential investors is their White Paper (WP). It is of utmost important to have a clear, concise, and professional WP. With this document the company will have the opportunity to get their message across to the readers, and convince them that the project has merit and is worthy of receiving their investment funds.
The WP for Whenhub is very well written. They cover most of the important aspects of the company and the information that potential investors will need to have.
The use case scenarios are well written and break down the technology in easy to use, everyday examples. By breaking down the technology into these real world chunks, people will be more easily able to relate to how they may benefit from using the platform.
The flow of the WP is well thought out, and it follows a natural progression. There was not a part where people will think the WP derails or that the section should be somewhere else.
The team has taken great care to provide all of the legal and company information that investors would be interested in. In the current crypto ICO market, a big emphasis is being placed on legality and proper incorporation for the business. By having all of this information at the beginning of the report, the team shows the seriousness of their efforts and that they plan for long lasting success.
The WP is over 75 pages, however it is not a slow read. The pages are broken up with nice pictures, graphs, and sketches. Some of the pages have only a few words, and others have more. With this dynamic style of writing it keeps the reader’s attention.
One area that can be improved is on the token sale portion of the WP. While it provides the information of how the tokens will be distributed, how many will be distributed, and to whom, it fails to answer the extremely obvious question of how much they cost. It can be gathered from other places on the website and documents that the tokens are $0.10 each before bonus, but this is not in the WP itself.
Business Key Products
The key concept behind the Whenhub network is to connect subject matter experts with people who are in need of guidance and support.
They provide statistics to show the ever increasing amount of free-lance workers (in the United States) and how there is a great need to provide them a way to monetize time. The traditional sense of advising and consulting can be oftentimes time consuming, expensive, and a major headache.
With the Whenhub marketplace, experts and people seeking advice will be able to come together in a seamless way. By utilizing blockchain technologies, the platform will connect people together via smart contracts. The smart contract technology will allow the transaction to be conducted in a trustless way. People will be able to know exactly how much they are paying for the experts time, and the expert will now exactly how much they are going to be paid, and that the payment is already held in escrow via the smart contract.
The entire ecosystem will be about driving maximum value. While the main beneficiaries of the platform will be people who need advice and guidance, and experts, there will also be ways for referrers to generate income. If a person is able to recommend and send somebody to an expert, and a contract is made, the referral will be rewarded.
Thanks to the internet and the internal payment tokens called WHEN, users will be able to interact and provide payment regardless of geographic location. People will be able to log into the system and see which experts are available in real time, book time slots, and be able to get their problems fixed, in as little as 15 minutes.
By utilizing smaller time increments and video or audio chat, people will be able to get the maximum value for their time. The users who pay for the expert’s time will get their questions answered in a quick manner, and the experts will be able to monetize otherwise lost time.
For a more detailed breakdown of the technical data and examples please refer to the WP.
After reading the WP, the next place that potential investors will closely scrutinize is the project team. It is imperative that the team information is accurate, up to date, and all information is readily available.
An in-depth review of the team was conducted in order to identify any potential weakness in the presentation or areas of concern. Investors will want to see that the team has the past experience, and strategic partnerships in order to fulfill the promises in the WP, and deliver on the milestones set forth in the road map.
The Whenhub team has been together and working on the project for over one and a half years. They have been building the system from the ground up to be user friendly and intuitive.
The main expenses have been paid from their own pockets in order to get a viable product available before the tokensale. The team is very dedicated to getting the platform live and performing what they promise via the roadmap.
The WP does a very good job of detailing the previous experience of the team and the advisors. There are links to the information that is publically available of the team so that readers can verify for themselves what is said. The presentation of the team is well done to showcase their past experience and why they are qualified for their current roles. However, the information on their CEO, Quin, needs additions, in order to instill confidence in his ability to lead the team as a whole. More information concerning his previous positions is recommended.
Below is a summary of the executive team and the advisory group.
Scott Adams: Scott is a Co-Founder and Chief Strategist. Scott is the creator of the comic Dilbert. Scott has grown his comic into a business and blog that has over 1 million unique visitors per month. Because of his experience in growing and developing business partnerships he will be overseeing the entire process for onboarding users and companies into the WHEN platform.
Nik Kalyani: Nik is a Co-Founder and Chief Technology Officer for Whenhub. He holds a degree in Computer Science from Western Michigan University. Nik has been involved with and started a number of startups before co-founding Whenhub. From his previous experience of starting, growing, and running technology startups he is well experienced to lead the team.
Quin Harker: Quin is also a Co-Founder and the Chief Executive Officer of Whenhub. He holds a degree in Marketing from San Diego State University. He has previous experience in the mobility and transportation industry. He will be in charge of all aspects of the company with a particular focus on quality assurance.
Kevin Kennis: Kevin is a blockchain engineer at BitGo and an advisor to Whenhub. He holds a degree from UCLA in Applied Mathematics.
Isabelle Guis: Isabella is the Chief Strategy Officer for Egnyte and an advisor to Whenhub. She holds a Masters in Electrical Engineering, and an MBA. Her work as CTO for Egnyte will directly translate into assisting and providing the guidance needed for the overall direction of the company.
Brian Klenke: Brian is the VP of Incident Response for the cyber security firm Morphick. Before cofounding Morphick he held high ranking security and analytics positions for companies such as Lockheed Martin and General Electric.
Website and Social Media Review
The website for the WhenHub project was visited and inspected on November 19th, 2017.
Having a clean and professional website is absolutely critical to impressing potential investors who are investigation your project. The website is the visual, and written representation of the company as a whole, if the website is not up to par, potential investors will leave without a second look back.
The Whenhub.com website is well put together.
The first portion gives people the information they are most likely seeking: the whitepaper, information about the token sale, and access to the community via telegram.
Scrolling down information of how the tokens will be distributed, information on the system, roadmap for future updates, and a general breakdown of how the technology works.
When doing a google search for “whenhub ico” the website immediately pops up with many other articles concerning the company and the ICO itself. People will be able to easily find outside review of the product and potential besides just reading the actual website itself.
The community behind the project is not very large. As of November 19, the Telegram channel had only 44 active people. On Bitcointalk, which is one of the, if not the, best place for discussing crypto currencies, the team does not have much, if any, presence. One of the largest reasons an ICO will be successful is if the community behind it supports it fully. By not having much information regarding the platform on the main community and social media sites, there is not a large chance that people will find out about and invest in the project.
It is imperative to partner with a PR firm in order to get the word out about the project. Given that this project will involve people directly, the more people that are involved the better it will be. Reworking the Bitcointalk announcement thread is advised.
A very inexpensive way to build a community behind the project is to run a bounty campaign. By distributing tokens to the crypto community to promote and drive interest in the product, the odds are greatly increased for the ICO to be successful.
The overarching premise behind the Whenhub platform is to monetize time. In the modern day freelance economy, having unbilled time literally does cost the person money in terms of opportunity loss.
There is also an issue with people having quick access to the expert help they sometimes need. Instead of having to wait for bids or contracts, and then trying to find a time to meet, the Whenhub platform will allow people to almost instantly find an expert and have a discussion.
The idea behind quick video or audio chats will also increase the monetization possibility for people’s time. Sometimes the need to fix an issue is a simple 15 minute phone call, and the platform will be able to facilitate these short and precise consultations.
They will be using smart contract technology to create a trustless system. By facilitating smart contracts on the blockchain, each party will always know they are getting exactly what they agreed to.
The WP gives good examples of how the system will work, and gives 10 real world examples, that people will be able to relate to. The technology will utilize video and audio communication in order to create the maximum value for each participant.
As was discussed, since the platform and payment system will be via crypto currency, geographic locations will not be a hindrance. As an example, a person from the United States could connect with an expert in Australia, have a consultation, and provide payment via the WHEN token. The payments would be run via smart contracts, and the transfer would be almost instantaneous.
A technology the platform brings is their Approach app. This can be used to easily track the location of people. This will be useful for companies or teams that need to meet up at a certain place. By turning on restreaming and geolocation people will be able to simply scan their area to see exactly where people are.
The technology of the Whenhub platform and ecosystem will be to monetize time. By being able to more efficiently utilize time, everybody will be able to benefit. All of the benefits of the program are well explained on the website and the white paper, it is advised to read through the information to gain a more complete understanding of the details.
An economic evaluation is one of the trickiest parts of due diligence for an ICO. Going off of publically available information regarding the industry the ICO is breaking into, and drawing conclusions is often the norm.
The total amount of tokens that will be created is 875 million. According to the website, the price per token will be $0.1 each, with bonus structures in place. During the token sale only 375 million tokens will be sold.
The WP and website does not give detailed financial models for the token and for the planned revenue of the system.
Since the token will be a utility token, its value will come from its use. The more people that use the platform, the more tokens will be needed in order for the platform, and the more demand will be for the tokens. With a limited supply of tokens, the laws of supply and demand will dictate the price on the open crypto markets.
While it is impossible to give an estimate of the value of the token, comparison can be made against other platforms that do similar things. Online freelancing marketplaces such as Fiverr have been gaining popularity. As the team researched, there are over 55 million free lancers just in the United States of America. With the rising number of freelancers and the rising popularity of free lancing websites, it can be argued that Whenhub will have a large audience.
Based on alpha testing and feedback, the users that used the early state of their product had good results and used the app frequently.
With this information it is easy to see that the platform and the company has a product that testers liked, and they are breaking into a growing market. With blockchain technologies, they will be able to leverage newest technologies in order to bring freelancers a better way to monetize their time.
One of the strengths for the Whenhub team is their past work experience. The team has been self-financed and dedicated to working on the project for the past one and a half years. They have a solid team of developers and advisors who are experienced with tech startups and company leadership. They also ran a successful alpha test that showed the alpha testers were engaged and liked the product.
The WHEN tokens are purely utility tokens. Without the use of the tokens the platform will not work. Because of this, and as was discussed in the economic evaluation portion, if the community does not use the platform it will falter. Since blockchain tech is still so new, people may be hesitant to jump into a platform that uses the blockchain tech. With a lack of financial forecasts, it is difficult to determine a potential value of the investment in time.
Whenhub is breaking into a growing market. The amount of freelancers has been growing in the United States for the last two years. As more people become freelancers the current free lancing platforms are becoming more popular. From this data it is obvious to see that the market for the product is there. With good marketing the team should be able to entice people into using their platform. With the segmented time slots, and smart contract payments, it turns the current industry upside down and might be able to attract a lot of new users.
One of the threats that could hinder the growth of the platform is data security. Since people will have to verify themselves, identity protection will be absolutely paramount. The team has a great cyber security advisor who will be able to help with this. Another threat to the platform will be the overall lack of understanding of the use of crypto currency.
The freelance market is constantly growing in the United States. With this new shift in the economy, people are searching for ways to monetize their time more efficiently. This is the solution that the Whenhub is looking to provide.
By bringing together experts with people who are in need of help, it will greatly increase the opportunity for subject matter experts to create more value. As opposed to the traditional way of having to seek out an advisor, and schedule a meeting, that can sometimes be far in the future, people will be able to find experts who are available in almost real time.
Along with this solution, the other Apps that the company provides will help to streamline activates and increase efficiencies in teams and business. The WP explains that this same sort of technology can be applied to business as well as to individual contractors.
The website for the project is well put together and provides most of the information that is needed. That in combination with the WP gives users a very good understanding of the project as a whole.
Despite all factors for success in place, sadly, the community behind the project is not very strong. As was discussed, without a strong community behind the project the chances for success diminish greatly. With some deliberate partnership with PR and marketing firms, the team will be able to greatly increase their reach to potential investors.
Since the ICO will be targeting the crypto community, have a well written and attended Bitcointalk thread is vital. This can be easily done and should be done on urgent basis.
The project makes sense from a practical standpoint, as the examples provided resonate with people on a personal level. Experts will like the idea of guaranteed upfront payment with no need to trust the other party to provide payment after the services have been rendered.
The Whenhub project is breaking into a growing market, and with the technologies they are developing should be intriguing to free lancers who are looking to monetize their time more efficiently.
Disclaimer: This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.