So when first looking at any ICO it is good to see if the Company initiating the ICO has a successful business behind them, in this case the answer is yes.
Privatix is an established VPN service provider offering a free and premium paid services to internet users all over the World since 2015, their offices are based in Cyprus. They currently make money from the premium service they offer, this significantly faster and more reliable service covers the cost of supplying a free-restricted service to all.
Protecting Your Privacy With VPN
In a World where everything we do online is monitored and logged either to use against you in a court of law or to extract money from you through targeted advertising. If you use the internet without VPN, then everything you do is accessible to your Government and just about anyone else who wants to track your cyber trail.
The following statement from Edward Snowden is very appropriate:
“Arguing that you don’t care about the right to privacy because you have nothing to hide is no different than saying you don’t care about free speech because you have nothing to say,”
So Why The Privatix ICO?
What Privatix are proposing could revolutionise how we surf the Internet, offering a low cost, fast VPN service. By using peoples idle bandwidth and rewarding these users with PRIX tokens it is possible for a highly secure, highly efficient decentralised VPN network for all to enjoy.
From the Privatix Whitepaper:
Our mission is to create a decentralized and fully autonomous P2P VPN Network on blockchain with advanced Internet bandwidth marketplace powered by own crypto-economy.
Our goal is to show a possibility to create a new kind of products and services based on the Network capabilities which will transform a number of markets like VPN, CDN, cyber security and encryption or even change the landscape of application monetization market.
The PRIX token itself is a Ethereum Powered ERC20 token, there will be a total supply of 10 Million, this is fixed with no dilution. They state that the tokens special conditions are:
Token exchanges for purpose of buying / selling internet broadband (between Privatix Network participants only) will be a subject to commission fee – up to 1% of transaction price in PRIX. No fees for any other transactions and exchanges except payments for bandwidth.
As with all these functional tokens that are being released they will also be available for trading on exchanges around the World, the value of course will undoubtedly be linked directly to the current value of Bitcoin and expect any crash within the crypto eco-system to directly effect the value of PRIX.
How It Works
For those like myself who struggle to get their head around exactly how this proposed setup will work, here is an example from the Whitepaper:Hans, a regular internet user from Germany, has a 100 Mbps channel and he does not use it completely, especially at night
- Hans, a regular internet user from Germany, has a 100 Mbps channel and he does not useit completely, especially at night.
- He has already paid his ISP so no additional costs are required.
- Hans installs the Privatix Network software and thereby becomes an Agent.
- On the other side of the world is a Chinese internet user, Lee.
- Lee does not have access to many internet sites because internet censorship in China is very strict.
- Lee installs a VPN program based on the Privatix Network and through it buys broadband from Hans. Now he can surf the internet via the encrypted German VPN and get access to all internet sites.
- Hans receives payment in PRIX as Lee is using his free bandwidth.
Decentralized CDN
Privatix along with their proposal to bring low cost VPN services to all also propose to provide decentralised CDN (Content Delivery Network) at up to 10 times cheaper rates than anything currently on the market.
Privatix.BOX
The company also aim to produce a portable VPN router which will access to Privatix services without the need for special software. This will allow you to always be secure and keep your data private at all times.
There are many other proposals being made by Privatix including an Anti-censorship solution, named Privatix.FAAS which is basically an SDK for developers to ensure their applications are not blocked in certain Countries, by sending internet traffic through the Privatix network locations of traffic can be hidden and thus more users can enjoy the application in question.
There is also an SDK for developers called Privatix.Monetize, this is a monetization solution for applications which allows them to bring in revenue without the need of adverts. When the application is installed on the users device it can be registered as an ‘exit node’ on the Privatix network and start selling idle bandwidth, which is collected by the application developer.
To Invest Or Not To Invest
The Pre-ICO sale has already completed, with all tokens up for grabs being snapped up in just 3 minutes. The official ICO begins on 19th October 2017 at 14:00UTC.
Below is the presentation video for the ICO from the Privatix website:
This ICO has many things to get very excited about, firstly this ICO is being launched by an established business within the VPN industry. Secondly, their whitepaper is very impressive and the services they intend to provide will have huge demand now and more so as time goes on and our privacy becomes more and more infringed by Governments and Corporations alike. If Privatix can provide a low cost, easy to use VPN solution which can serve the World this could be something really big.
However, there is always the possibility someone will beat them to it, or the services they propose don’t quite live up to what has been laid out on paper.
Personally I like what Privatix are offering and am willing to support it by making a small investment in the ICO, it’s difficult to determine if it’s a good investment at this point, which is why you should never invest funds which you cannot afford to be lost. I would only ever invest profits from previous trading into ICO’s and a only a small percentage of profits at that.
Disclaimer: Statements contained within this post do not represent the views or policies of anyone other than the writer. The information contained within this article is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.