Loci ICO Review – Is it A Reliable ICO?

Loci (loci.io) is an interesting project which is aiming to disrupt the inefficiencies in the patenting sector. The core idea behind their operational model is to enable everyone to make the best out of their intellectual property in a cost effective manner.

They have a solid road map and the team behind them are also trustworthy. However, it does not mean that the risk isn’t present. If you want to have a crystal clarity about this ICO, then read the following review thoroughly.

Team Members

Nowadays, there are a vast majority of ICO’s launching almost every single day. Most of them turn out to be scams. So, it is of utmost importance to know the people behind them. Moreover, transparency is the key to healthy business relationship.

This ICO features the details of their employees on their homepage along with their LinkedIn profiles. As far as commitment to the clients goes, this kind of gesture is well appreciated. Below are the information of the top employees.

John Wise – Chief Executive Officer

Background – More than 15 years of experience in variety of fields including mechanic, crew chief, data engineer and team manager for some of the top teams in American racing.

Kevin Caimi – Chief Financial Officer

Background – 20 years plus experience in accounting and finance. He is a certified public accountant and an alumnus of The Pennsylvania State University with a B.S. in accounting.

Core Idea of Loci ICO

Today, the technological advancement are scraping through the skies. However, for every innovator that is not essentially becoming a good thing. If you have a new idea and would like to file a patent for it, then its a lengthy process to do so.

First, you have to check whether it is something new and if you fear someone is going to patent it before you do, then its a new headache. Moreover, you should also analyse the kind of unique benefits it brings. Over the years, many companies have spent billions of dollars doing this. This ICO is planning to address all of the existing problems with a single platform.

Basically once you input the idea for a patent, he software will automatically present it in a venn diagram. The interesting aspect about it is that, it lets  you know whether or not your works are valuable in a glance. However, it is always better to get a second opinion too because it will be backed up based on blockchain technology.

So, there will always be tangible proof to show the true inventor. Moreover, this solution is the one which is lighter on the wallet too. Currently, the fees involved in finding out the uniqueness of the idea is around $3000. So, with a strong price tag of $50, the value proposition is impeccable.

Road Map and Fund Distribution

Below are the details of the short and long term goals of Loci ICO, along with the presentations of funds.

Distribution

Product Development – 40%

Marketing and Operations – 35%

Legal Affairs and Advocacy – 10%

Intellectual Property Services – 10%

Security and Audit – 5%

Loci ICO Roadmap

May 2008 – Research begins into system and method for fuzzy concept mapping

August 2012 – Patent filed

April 2015 – Loci Incorporated

October 2016 – Patent awarded ( US 94618760 )

November 2016 – InnVenn prototype finished

February 2017 – InnVenn redesign beta launch

June 2017 – Strategic partnership with IP law firms

July 2017 – InnVenn V 1.0 release with Venn Diagram visualization

August 2017 – SAFT Pre-sale Launch

September 2017 – InnVenn V 1.1 release with claim forms and other enhancements

November 2017 – InnVenn V 1.2 release with IP bidding and blockchain integration

December 2017 – Token sales goes live

Q1 2018 – Strategic Partnership with IP firms

Q2 2018 – Research grants to inventor communities

Q3 2018 – International Expansion

Q4 2018 – Decentralisation alliance network

Marketing Channels and News center

The successful launch of an ICO is dependant on its marketing capabilities. If more people are aware of the idea, then axiomatically the response will be huge. This ICO is present in all the major social media outlets such as Facebook, Twitter and Telegram.

Their client base consist of 1,000 of enthusiasts. So, it goes to prove their level of commitment with the investor community. The news center section of their website is constantly updated. If you are an investor, then you are informed about all of the latest happenings without much delay.

General Talk

Since this ICO has been around for a while, it has gained a reputation for itself. Here are some of the opinions of people which were shared or Bitcointalk.org.

This looks like a good and professional project. Anyway, I think paying 249$ just to make a search is not so affordable for average users. Also, I think you make a little bit of confusion about LOCI coin, somewhere you say it’s a coin, somewhere a token…

Hi dev, here you say ico begins August 10, now 14 august so it’s been 4 days ico running. how much is the achievement of ico to this day? Because I did not see it on your website.

Loci ICO Review Conclusion

Loci is an interesting project with a lot of practical applications. However, never invest blindly based upon the fundamental factors. The success of this ICO is dependant upon the adaptation and execution of their plans.

With that being said, let us know whether you will include this ICO in your portfolio?