Nucleus Vision (nCash) trying hard to find its feet in the crypto space
The crypto industry is still in its nascent stage and it will take some time before it gains wider adoption and acceptance. While the industry witnessed meteoric highs led by Bitcoin in December 2017, it has been a totally different story since then. The market has been on a downward slope and the bearish trend has dictated the most part of 2018 with the market losing 65 percent of market cap. But the bearish trend has not been able to put a lid on a number of new players and ICOs entering the market. While that’s a good sign for any industry, it also puts the investors in danger of being duped or taken for a ride, since there is no proper regulatory framework in place. One such example is Nucleus Vision (nCash), which is a bit of an enigma for customers.
Launched in 2014 at the Harvard University, Nucleus Vision’s main aim is to act as a bridge between its users and the retailers through the use of IOT sensor technology and tokens. Nucleus’ ICO has been one of the biggest in 2018 and it attracted thousands of users who didn’t have a clue about the company and its initial coin offering (ICO). Many experts believe that Nucleus is a classic example of a Ponzi scheme where the rich are dropping each of their presale tokens at 5 times the price and the poor are buying them out of FOMO (Fear of Missing Out).
The white paper states:
“Nucleus Vision is an end-to-end technology solution that captures and provides previously unaccessed data to retailers and other ‘brick and mortar’ businesses through its proprietary blockchain and real-time sensor technology. The solution that Nucleus has built, which currently has ION Sensors deployed in ten live retail establishments, will support a valuable data network for unique visitor IDs and corresponding user data.”
Competent core at the helm of operations
Nucleus Vision is led by Abhishek Pitti, who started his career in retail and also has experience in aerospace engineering and investment banking and Martin Dudley as the CMO. Arun Seth, formerly British Telecom CEO and Ian Balina form the core of advisors and it looks a good team to take the company forward.
Another aspect that makes it a lucrative deal for customers is its association with one of the biggest bulls in the market, Tim Draper, who is positioned as the star investor associated with the project. Draper is well-known investing in companies, like Baidu, Skype, and Tesla.
Earlier this year in August, Nucleus Vision announced its partnership with Host.Games tailored towards scaling the potential of emerging markets. The partnership will allow the gaming protocol to accept Nucleus Vision’s nCash for crowd sale.
It’s also important to note that Nucleus Vision came up with one of the biggest bounty campaigns in 2018 and it gave out nearly 100 million in nCash tokens worth $ 1M for the bounty hunt alone. As a result of this, it has a strongly knit community of nearly 90k members in the Telegram group and nearly 60k members on Reddit.
No clarity about the future course of action
Despite all the efforts, the company still seems to be finding its feet. There is no information in their white paper about how the company will make a profit and there is also no mention of their revenue model. 25 percent of token supply goes to the team. Taking into account the hard cap of $ 40M means that 10 million worth of tokens go to the team.
All this seems to be fine but there are still some lingering doubts about the token that leaves customers in a bit of quandary. The company is registered in the Cayman Islands, but there’s no exact description about the team and where they operate from. There’s no official statement from its start investor Tim Draper about the company and there’s also no mention about how the coin is going to retain its value as customers will get free tokens upon entering a store.
The thing with Nucleus is that they have tie-ups with some leading stores and brands like Raymond and Allen Solly across India, where cryptocurrencies are banned and many believe that if that had not happened nCash would have continued to grow and evolve, which might be true to some extent. And if we check their website and their vision beyond 2020, it seems like a good buy.
At the present moment, it seems like a good bet to hold nCash till 2020 or wait for it to touch the $1 mark. Your $400 investment now can easily get you something in the region of $10,000 in the near future, but its only speculation and there’s no concrete evidence to back this up.
All this raises genuine concerns about the company and its token nCash. The company needs to be more accountable and show some real and tangible progress to build trust among customers who are the building blocks for any company. Right now, it looks like a stealth startup which is running the show the way it likes.
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