Shping ICO Review

/Shping ICO Review

Shping ICO Review 2018-05-22T16:17:50+00:00
Shping ICO Review

Shping ICO

Quick inner navigation:

  1. What is Shping?
  2. Interesting facts about Shping ICO
  3. Shping ICO Team
  4. Scam Check
  5. ICO Business model
  6. Shping Tokensale
  7. Shping Coin

What is Shping?

Shping is a leader and an innovation player for the shopper marketing ecosystem. Shping allows existing brands and companies to reward customers who use the shping application with Shping coins. The application aims at being a one-stop shop for shoppers while providing crucial information about products. The platform also allows users to check if the product is legitimate. When a user adds any information to the application’s database, the data is validated and the user rewarded with Shping Coins. Shping ICO tries to connect consumers, brands, retailers and associated organizations to work together. A user will be able to check a product’s ingredients and other interesting additional information that brands may want to share.

Interesting facts about Shping ICO

  • Allows brands, retailers, and consumers to communicate: With the Shping app, brands and multiple retailers can engage with their customers at the point of purchase. For shoppers, the app is helpful and also rewarding. Shoppers are rewarded with shping Coins when they contribute to the Shping database. Brands and retailers can reward the consumer directly for their attention.
  • Gives brands power to influence their consumers: Shping Coin acts as the critical exchange of value in the shopping ecosystem. It is the central token of exchange. Brands can change consumers’ buying behaviors and market their products. The brands can come after that and market their products after the customer has made a purchase.
  • Allows Consumers make informed and safe purchases: Through the Shping app, a user accesses pertinent data on a product simply by scanning it. The information could be supplied by certified data sources or by brands themselves hence comprehensive and accurate. Shping also helps shoppers identify counterfeit goods.

Market Research

  • Existing platforms that allow users to access product information include Wabi.
  • Expansion plans include having offices in Australia, New Zealand, China, Russia, India, and the UK.
  • Primary users are Marketers, consumers, and brands.
  • Shping promotes itself as reward-based and market-oriented service.

Potential/Use Cases

The primary use for Shping is for users to identify if the product has a recall. It allows management of the brands through identifying counterfeit.

Shping Coin is designed to be user-friendly and can be used by people with little knowledge about cryptocurrency.

The consumer will get a mobile application, which would allow access to the product database and benefit from promotions and rewards provided by the brands for Shping users, as well as contribute to the platform and earn some Shping tokens.

Shping Communication Channels

Shping ICO Team

Gennady Volchek, CEO

  • Gennady is an entrepreneur born in the USSR but moved to Australia as a child. He has successfully built and sold many innovative businesses. He also pioneered VOIP technology and Satellite Pay TV Business in Australia.

Andrei Kucherov, CTO

  • Andrei has over twenty years of experience in development of software. He is praised for his strong analytical skills and as a team player who has completed several software project cycles.

Evgenii Markelov, The head of the branch office for Shping in Moscow

  • Markelov has more than 20 years in senior positions in the IT and financial enterprises. His experience features more than ten years as CEO.
    He has the experience of starting a business from scratch, bringing it to a profit to attract investors, experience in business sales with a value of over 25 million US Dollars.

Partnerships

The Shping Company has significant partnerships with barcode verification company GS1 and IBM-backed blockchain company, Everledger.

The largest organic certification organization in Australia, the Australian Certified Organic is also Shping’s principal partner. In other countries, its partners include AssureQuality in New Zealand, the Asia Food Safety Zone in Changmin in China and Rosselkhoznador in Russia.

Scam Check

The Shping team and management are made of 15 members who have LinkedIn accounts that state their experience and areas of expertise.

The Shping Company is a registered company with an office in Australia.

Tokens are indeed secured in a smart contract

Registered Company- AuthenticateIT Pty Ltd, Melbourne Victoria, Australia

ICO Business model

The Shping Company has issued 10 billion tokens. Half of it is used to fuel the liquidity of the reward model. The other half (5 billion tokens) will be part of the ICO. The company plans to expand to other areas and attract new users.

Shping MVP

Shping app is currently available in its beta version and only needs a few touches to attain full operation. Users have been able to download and contribute to the app. With a working app that even has several users, an investor gains confidence that the company is serious and worthy of investment.

On the website Tokens that are available for the issue are 50 percent while the rest are reserved to fuel liquidity of Shping reward model.

Capitalization Potential

The company closed a $3.7 million presale hitting its hard cap five days earlier than keeping the team hopeful for the public sale.

Just like the presale, the company’s public token should perform well with an estimated end value of 46 million dollars.

Shping Tokensale

  • Token base: ERC-20
  • Token supply: 10 billion (fixed supply)
  • Token sale target: The Company posted a USD 3 million hard cap as their target for the presale (which they met).
  • Minimum Token Purchase: 1,000 SHPING tokens
  • Currencies Accepted For ICO: BTC, ETH, ETC, LTC, DASH, ZEC, Australian and U.S. dollars
  • Shping is an ERC-20 token, so it’s crucial that contributors use ERC-20 compatible wallets like MyEtherWallet, MetaMask, Mist, Parity, imToken, Trust, and Cipher.

Shping Coin

Shping is a token used to make payments within the Shping platform. The users include companies, brands, and retailers. Brands can reward shoppers for their loyalty with some Shping coins. With the platform, authorized agents can also incentivize consumers. Shping allows users to grow their worth through five-tier, allowing them to achieve platinum status as they progress. When a user scans a product or invites other users, he or she is awarded tokens. The mobile age has changed people’s shopping habits forever. People are looking for information every day. Shping is set to be the go-to platform to obtain whatever information on any product.

To Conclude

There are similar apps like Wabi that allows a user find counterfeit products. Since its uses blockchain to expand its current product, it allows users opportunity also to shop using their coins. Shping plans to create a branded interaction, per customer, for marketers who want to reach them. The Shping Coin can surely become the currency that enables brand retailers and associated organizations to use their platform to influence and reward consumers.

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