DISTRICTS PROJECT CERTIFICATION REPORT

Districts Project CERTIFICATION REPORT

Breaking News
Typography

Districts Project CERTIFICATION REPORT

Purpose

A review of the Districts.io 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 persuade 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.

Introduction

We are living in the times where digital and real world are getting intertwined at a fast pace. Districts Project is aiming to integrate two of the fastest growing technologies today, Blockchain and Virtual Reality, with the real world and thus create an “Immersive Virtual Ecosystem” known as District’s 3D world. This virtual miniverse, will project digital versions of real life entities like other humans (users), business buildings, hospitals, schools, cinemas, etc. in a real time interactive environment, thus creating a virtual representation of the real world.

According to industry sources, the Virtual Reality/Augmented Reality market is estimated to be worth atleast USD $130 billion by the year 2025 since the application of this technology is very wide ranging from video games to medical intervention. However, the implementation of VR/AR technology has some substantial challenges that need to be overcome before it can be implemented at a large scale. Firstly, the technology in its current form is highly complex and this has kept its usage limited to technology professional and experts only. In addition, the technology’s high costs due to requirement of dedicated infrastructure has also kept it out of reach of the everyday consumer.

In order to overcome the above-mentioned challenges related to VR/AR technology adoption, Project Districts is banking on exploiting the latent capabilities of the peer to peer blockchain network. Their primary goal is to severely reduce the exorbitant costs associated with infrastructure requirements for setting up and running a VR/AR ecosystem at a massive scale.

Taking a leaf out of Ethereum’s book, Project Districts wants to provide such easy to use tools that even a user with no programming skills is able to create and launch Dapps on their platform. As Ethereum has made it super easy for non-programmers to create tokens and Dapps on its platform, Project Districts via its Districts Visual Studio (DVS), aims to enable average users to create custom entities in the 3D ecosystem. It is positioning itself towards being the go to platform for all VR/AR related innovations and developments.

The platform is aiming to have support for a very wide range of applications which would be integrated into its ecosystem as Dapps. The user would have loads of freedom in terms of creating the application best suited for his / her need and the tools provided for such development would be top class. The project has definitely scored well on technology integration as it has created partnerships with big names in the field, namely, Unreal Engine, Steam VR, Oculus, and Allegorithmic.

White Paper Review

The WP reviewed was Districts Project – Version: New.

White Paper is one of the most important aspects of an ICO. An effective White Paper should provide all the commercial, technological and financial details of the new coin offering in a clear, concise and professional manner. Considering the fact that all investors do not have technological prowess, all the relevant information should be put across in an easy to understand format. The idea is to provide a comprehensive, yet easy to understand document, that would convince the potential investor to go ahead and invest in the project.

The Districts Project WP is a well drafted document, with various sections providing a good sense of the vision of the project. The document provides relevant information about the VR/AR industry and the potential of the market. It then documents the market opportunity and how the Districts Project will make a mark in the VR/AR ecosystem. The document does a good job on explaining how the Districts Blockchain will enable development of customized Dapps on its platform. The document also scores well on the sections detailing transactions, scripts, and coin mining.

The WP has many pictures that gives the reader a good feel of the VR/AR ecosystem. The charts are also presented with figures of the industry and market participants. However, it seems the document file is a bit heavy, as the screen lags while scrolling up and down. Additionally, the document lacks any diagrams or graphical representation of the how the Districts technology will function. This is an important aspect that has been missed out, since majority of the potential investors are able to grasp technological information better through diagrams and graphics. Even for more tech savvy investors, graphical representation of the technological system gives them better understanding and thus more confidence about the technical soundness of the project.

As mentioned earlier, the financial forecasts are one of the crucial parts of the ICO pitch. The White Paper provides no financial forecasts other than simply stating that fiscal forecasts hint towards increases in value of the coin. This definitely does not provide confidence to the potential investor about the viability of the investment. There are plenty of examples out there in the ICO space, which have clearly defined this aspect for the investors and the results have been very positive for the same.

The White Paper is also lacking complete details about the token sale, however these details and links are easily available on the website. It would only help to have complete token sale details in the White Paper. Additionally, details of the core team and advisors should also be added in the WP. Also, adding LinkedIn profile links will help in instilling confidence about the team.

The team has provided clear details about the fund allocation and definitely scored well with the locking of funds for the advisors, promoters and early investors.

Business Key Products

The Districts Project is building an independent Blockchain primarily focused towards providing the community of VR/AR enthusiasts with a fully decentralized network with 3D capabilities. This is an ambitious project, and one with a massive potential. With a little research, it becomes evident that the AR/VR space is ready to explode over the next few years, with projections of USD $130 billion market size by 2025. The AR/VR technology has a very wide spectrum of application in medical, retail, real estate, gaming industries to name a few and this very well substantiates the project’s viability in the long term.

Considering the growth potential of the VR/AR space, Districts Project’s platform is positioning itself as the hub for innovation and development for this technology. The success of the platform is directly related to the number of projects or businesses that adopt the decentralized 3DCoin blokchain and its technology based on the Unreal engine. Districts Project’s entire ecosystem powered by the 3DCoin Blockchain is in essence, its business product.

The Districts platform has the basics in place as it is a free to use virtual and augmented reality ecosystem with broad spectrum capabilities and applications. The team obviously is smartly focused on providing user friendly tools such as District’s Visual Studio (DVS), which will enable users with or without programming skills to develop complex Dapps.

Team Review

The section with the information about the Team is extremely important. Potential investors are always looking out for ground breaking projects and concepts to invest into, however the project is always as good as the team and its ability to rough out the challenges that come with launching a project from scratch. The teams past experiences and abilities are crucial in this context as this is the information potential investors are interested in. Hence, it is essential 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.

As per the information available on the website, the Districts Project’s team consists of 4 Core members, plus 5 advisors. The core team is skilled in aspects such as Software Architecture, 3D designing, Graphics and Project management to name a few. The advisory panel is well rounded with experience in Blockchain development, setting up and launching an ICO, Financial planning etc.

As mentioned earlier, it is extremely important to highlight the strengths and past experiences that the team brings to the project. In this regard, it is suggested that the team’s brief profile is provided on the website other than providing the LinkedIn links. This brief profile should provide information about the experience relevant to the project and also list some key strengths. This provides immense confidence to the investors who are investing in the team at this stage rather than the project.

The team’s LinkedIn profiles are provided on the website, however, having the team’s relevant profile readily available on the website will only provide better results.

Website and Social Media Review

During the preparation of this report, the Districts Project’s website was visited and reviewed on January 27th, 2018.

Website is another critical component in the launching of a successful ICO. A smooth and professional website is key, as this is the first landing space for a potential investor to start with the due diligence process. Think of the website as the space for interaction between the investor and the company. It should be visually up to par in representing the company’s vision, goals, while building a solid connect between the two.

It is advisable to provide easy to locate and manoeuvre links, pertaining to the ICO and the token sale event.

The Districts Project website, Districts.io has a very clean and professional look to it. The website flows and maneuvers smoothly and the links to the ICO and token sale are available right in the middle of the landing page. The contribution tab is available right under the information of the token sale contributions and alongside a tab is available for digging deeper in to the ICO’s details.

The one pager document, Whitepaper, downloads, bounty details, FAQ’s, latest updates and the login tabs are easily available at the top end of the website. There are loads of other useful resources such as company’s vision statement, videos, events, technologies partners’ names and logos, media partners’ names and logos, and ICO listing partners.

However, it is suggested that the company also provide a section with details about the company’s legal retainer. In the current environment of the crypto space, it is imperative to show that the team values legal compliance as a top priority.

For an ICO to be successful, the project needs to have solid support from the crypto community. During the making of this report, all the social media links were reviewed. The social media presence is a mixed bag as all the platforms have been activated with information, but the community involvement is lagging. The Bitcoin talk thread is very old, dated November 4th 2016, it needs to be refreshed and activated with latest details.

The project’s Telegram group was viewed as well, and the number of members were found to be 600+ with a decent level of community interaction. It ideally should be much higher in terms of numbers and interactions, especially towards the latter stages of the token sale.

A very inexpensive way to build a community supporting the project is to run a successful 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. It is advised that the team looks into the bounty campaign and assess where it is lacking, and also appoint more active bounty campaign managers who will work towards creating an organic community for the project.

It is very important that the team partner with a PR or marketing firm in order to create publicity and get organic growth and interest in the project while the token sale is still on, or in case it needs to be extended if the targets are not met.

SWOT Analysis

Strengths

The project is backed by an established company based out of the UAE. The project has a first mover advantage as there is no other project that is focusing on integrating the blockchain technology with the booming VR/AR space as in independent ecosystem. Key partnerships have been established with big technology partners. The strategy of providing a free and easy to use platform is the correct approach for creating traction on their platform.

Weakness

The project has negligible traction within the crypto community. Having a bigger team would be better so that Rezig can focus on leading the project as the founder. Creating an independent blockchain is resource intensive especially in regard to having experienced developers. The technical team will have their work cut out as the project moves forward, as one can see how many challenges the Ethereum network has had to deal with despite having such a big community of experienced developers.

Opportunities

The project potentially has a massive opportunity as the first mover in the space of becoming the hub for VR/AR development. As the VR/AR’s application is very wide in terms of various industries, the size of the market is estimated in 100’s of billions of dollars in the coming years, hence the potential. The potential for revenues is multifold once the blockchain and platform is adopted by other users and businesses.

Threats

It will be critical to get traction within the community to raise the required funds during the token sale. The other threat comes from not many users and businesses adopting the platform for various reasons. The fact that the platform is a first mover is also a double-edged sword, as there could be numerous technical and other unforeseen problems that could halt the successful implementation of the project.

Conclusion

The Districts Project’s concept with its independent blockchain for harbouring development in the VR/AR space is well founded. It has the first mover advantage with respect to integration of blockchain technology in the 3D and virtual immersion space while creating an independent specialized ecosystem solely focusing on this space. The VR/AR market is expected to reach 100’s of billions of dollars in the coming years, and Districts’ platform could provide the required infrastructure for the development in the space. The team has a clear vision as it aims to provide a free and easy to use platform for stimulating innovation and development in the VR/AR space.

However, as discussed earlier, there are numerous challenges that lie ahead for the team at Districts Project. Firstly, the project needs to start working on getting the support of the crypto community in numbers.

In case the team is contemplating extending the dates for the token sale, it is advised that they look into the suggestions for immediate results. The suggestions pertaining to building a bigger and stronger community are listed below.

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.

Sign up via our free email subscription service to receive notifications when new information is available.