Profede intends to add value for both professional users and businesses. Users will be able to control to whom data is sent and which data is transmitted, they will be compensated with tokens for sending data, they can set their own price and therefore feel fairly compensated in each transaction, and they will have a portable professional profile and ranking that doesn’t rely on a centralized authority.
Businesses should see an increase in savings as they will be communicating with those who want to be communicated with, reducing wasted time. They will also avoid expenses relating to service packages or subscriptions, as they will only be buying the data they need. Finally, they’ll be able to see the professional rating before purchasing data, to avoid reaching out to candidates they wouldn’t even be interested in. Finally, they would have community-verified profiles to access, avoiding concerns about inflated or misleading profiles.
ICO Supply: 50% (3 Trillion Tokens)
Hard Cap: $20 Million
Soft Cap: $1.5 Million
Presale Discount: 15%
Token price: $.01
Presale Ends: May 31, 2018
Crowdsale Start: July 1, 2018
Crowdsale End: 105 Days or Hard Cap reached
Token Allocation:
Profede makes a good case for replacing this old-style system with a new paradigm, and the fact that they bring value to users and companies both is an important feature. Users, particularly professionals, are starting to understand the value of their own data and are becoming more reticent to be the product sold by job sites and professional social networking sites. Making users an integral part of the transaction makes it much less likely that users will pull back from the system or avoid using it due to moral or ethical objections, as is often the case with current professional social networking systems.
Profede’s token allocation and fund distribution look good, the protocol does not seem so technically complex as to be a risk, connecting businesses and users should be reasonably straightforward, though they do still retain a good portion for R&D, which should lead to a well designed product and one that is accessible to professionals who may not be particularly technologically adept. It is gratifying to see the large portion of funds going towards user base expansion and adoption programs, as social networks live and die by their usage. If Profede is able to bring users on board, by offering bounties, bonuses and other programs, it should bring businesses onboard very quickly. Businesses will go where the talent is.
But gathering that talent may be Profede’s greatest risk, as to a degree, users already have several professional networking sites or job search sites, so Profede will have to use their funds wisely in order to jumpstart the adoption rate so as to reach the critical mass of users to make the network worthwhile. Starting with the beBee contract and the 12 million users there may well give Profede the gas to get the engine humming. If not, Profede will need to aggressively expand their user acquisition plans in order to reach that tipping point. Luckily, they appear to be well aware of the position they’re in, and that users are the lifeblood of such a system.
