Long time readers of our blog will know that we cover new and  interesting projects in the crypto community. However, of late, there  have been such a spate of ICOs that even our editors who have been in  the space for over 5 years, have been overwhelmed. We are therefore  picking out a few promising ones with the best signal in the marketplace  – good team, existing communities, real life use cases and the belief  that the team can execute on that vision. In that spirit, we want to  discuss a new project with our readers – HERO Token.

Before we describe the full project and the problems it is solving,  let’s look at some information about the company itself. It is operating  out of Asia, and already has two of the best known venture capital  players behind it – Softbank and Alibaba. For those who may not know, Softbank is a Japanese juggernaut with  assets of over $200 billion, with serious ambitions in the tech world.  It has backed some of the largest software companies and beyond in Asia  and even in the United States/Silicon Valley. Alibaba is a Chinese  ecommerce whale that is constantly looking to expand its footprint into  newer markets from India to South East Asia.

With this background in place, let’s look at what the HERO token does.

 The Problem and Market

In this really heated up ICO market, it is important to differentiate  the wheat from the chaff. One quick way to do that is by looking at the  problem the team is trying to solve, and the market. A further analysis  will require to consider whether the team has the capability to pull off  what they’re promising to deliver. This risk is present with all ICOs  really, but the team behind HERO token have a lower execution risk  because they already have a successful venture-backed business and will  likely be able to pull all the required resources to make their vision a  success.  The HERO Token is built as a banking solution for the developing world.  It’s technology isn’t limited to a specific market. However, the team is  rightly focusing on South East Asia at the moment. That’s a smart move  because there’s a lot of opportunity in that region right now. There is  disparity among nations while some with to catch up, and therefore the  rates of growth can be much higher than Western Europe or United States.  This provides ample opportunities to grow the business and user-base.  The big product of the team is providing credit to their market. They  already have a live, working product being used by everyday people  called PawnHero. This is a mobile-based pawn shop that is able to reduce  interest costs up to 50% compared to traditional pawn shops. Therefore  the team has demonstrated experience building a real product for use.  There was a whole 25 minute Bloomberg video on the company as well. 

 ICO/Blockchain’s Use 

With an ICO, the team wants to take that technology and market expertise  and apply it not just to pawn-based loans but to uncollateralized  loans. Now historically this area is fraught with risk and lots of  investors have gotten burned in the past. However, HERO has a big  advantage – blockchain.  With information about the loans being put up publicly, the team has  access to a lot of data and past history of payments. In addition, they  are developing systems that predict credit worthiness for the markets  where credit scores are not widespread. The team is building out a  reputation-based identity system on the blockchain combined with  knowledge about credit risk. This is a powerful combination.  The company will be responsible for building more complex machine  learning models for credit worthiness with information from a lot of  sources like employment history and social media profiles. It is also  good to remember that countries like Philippines and Indonesia are  seeing rapidly growing use of crypto like Bitcoin and they local people  are well versed with these digital currencies. 

HERO Token and More Details

Unlike many other ICOs that are looking more and more like a money grab,  the team has a very specific vision that it wants to execute. The team  has local market knowledge with real products on the ground. Almost as a  good faith agreement, the team is selling 80% of all HERO tokens that  will exist in the ICO, and keeping only 15% for the team. The rest is  for advisers and early supporters. This is a good deal for investors as  they control a significant majority of the tokens that will ever be  created.  The cost of a HERO token in the ICO is 1/200 ETH, i.e. for 1 ETH you get  200 HERO tokens. The team has a cap of 250,000 ETH on the fundraising,  which at a price of $300 per ETH comes out to $75,000,000 or $75 million  for the 80% tokens, or $93.75 million for the full market  capitalization. This may seem high compared to some recent projects.  However, given the market size and potential, it might just become  another unicorn coming out of Asia, especially with the kind of backing  the project has already seen.  

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