ORCA ICO Review & Analysis
The main factor that appears to hold up the advancement of the digital economy is the gap between the worlds of digital and traditional finance. Cryptocurrency users have crypto wallets and tools for managing their digital assets, but it’s all siloed. Finding liquidity or integration with the real world is difficult due to the disconnect between traditional banking and finance systems. ORCA bridges the gap.
What is ORCA?
ORCA stands for “Open & Regulated Cryptocurrency Adoption”, which gives you some idea of what the project is about. A big problem with banking is a lack of transparency and openness, while cryptocurrency too appears shady due to lack of big business affiliation. The two areas have the potential to help each other out, while continued separation only holds each industry back.
ORCA breaks down the most common obstacles to full-scale crypto adoption. The main features of the ORCA platform include:
- An open banking platform, merging crypto wallets with traditional bank accounts.
- An easy interface for users to view their account and overview of their financial situation, combined with a wide range of tools for asset and finance management.
- “ORCA AI” – a machine learning system to help users manage their accounts and finances.
- The ORCA App Center. Dubbed by the team as “the Google Play of the crypto world” – an incentivized hub for dApp development, showcase, testing, and distribution.
- “ORCA Quest” – a gamified and reward-based community for blockchain and crypto developers.
All the features of ORCA are designed to be fully compliant with regulations and easily integrated with physical and e-commerce worlds. Ideally, the apps and connectivity features presented as part of the platform will make it easy for many more mainstream retailers and services to adopt cryptocurrency payments.
The ORCA ICO & Token
ORCA tokens make up a key part of the platform. The token is an ERC-777 standard, introduced to be used for access to ORCA apps and services, paying for in-app purchases, and to be used as a method of payment itself. The platform also provides a “token swap” feature, which allows users to pay for third-party services (which often require their own native token) in ORCA. This is enabled by integration with the Bancor Protocol for token exchanges.
The project’s ICO is planned to be held in mid-2018. A fixed supply of 460 million tokens will be generated, 60% available for purchase in the public ICO. Hard cap for token sale is set at $14 million.
ORCA’s site lists 29 members and 10 advisors as part of the project.
- Natan Avidan is the CEO/founder. He comes from a digital marketing background with several Lithuania-based companies.
- Dmitrij Radin is co-founder/CTO. Radin is vice-president of the Crypto Economy Organisation, a group based in Vilnius focused on the advancement of the crypto ecosystem. He comes from a varied background in Lithuania, featuring experience in project management and client relations.
The remaining team members cover a wide range of expertise, such as finance, PR, legal, project management and front/back-end devs.
As of June 2018, the project has a demo version available. The team plans to have an alpha completed in September 2018, and beta in February 2019. The full release is planned for mid-2019.
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