A recent ICO that has come up in reviews on the internet for quite some time is Senno. According to their own website, “Senno is the Blockchain’s first sentiment analysis platform with an open API for 3rd party apps. It utilizes distributed sentiment analysis and AI algorithms to create a Real-Time crowd wisdom ecosystem and sophisticated business intelligence analytics. Senno will revolutionize the way decision making is made in the business and private sector.” It basically a platform that makes use of APIs that gather user data from platforms such as facebook and twitter to make sense of what is trending or most talked about and what has gone obsolete.
Its hard cap is set at 25 million dollars with its total token supply consisting of 10 billion tokens. When it comes to the presell investors, they are said to be receiving bonuses of up to 20 to 50 percent. There are several positives when it comes to this project. They are scattered out into three main pointers. The first plus point revolves around the fact that the tokens that are left over are going to be burnt. This is now being backed up and followed by many ICOs and is fairly good in terms of investment. Secondly, Senno is built upon the newer blockchain and all the ICOs nowadays that have sprung up and faced greater hypes are the ones built on the newer blockchain systems. Thirdly, their goals and white paper contents are actually pretty admirable. What they want to accomplish is something that will not only attract investors but big firms that would be quite interested and willing to back it up. Sentiment analysis platforms are seen to be supported more and more so as they spring up. That is because they incorporate emotions and consumer behaviours which humanise the way economists looked at them when before they were targeted like pawns in a big game of chess. Basing platforms on the way the crowd thinks and the steps they will take is immensely intelligent.
When it comes to the negatives, the first criticism would probably be based on the idea and how they want to launch it. It seems to be too broad, open ended, highly ambitious or lacking clarity. It does not really explain whether they are targeting traditional financial market for their market analysis or big cyryptomarkets or even small businesses that do not work on quite the same level. The same platform could not be applied to academic thinkers or even thinkers based in independent think tanks. No consumer will really want to invest in a business that is not clear about their goals. Moreover, they do not really market blockchain technology well. Generally, the technology is boosted in terms of being superior to centralised systems, however, humans are still working behind those systems. In other words, the weakest link in the chain are the humans themselves and if they are eliminated from Senno’s equation, the whole function results in an error. Moreover, despite their team appearing to be good on surface, they do not seem to be different from any other out of the many that appear parallel to blockchains. Even when it comes to hype, nobody really knows them well enough for one to term them high scorers in the regard.
It is advisable for one to conduct their own research regarding ICOs and their limitations or advantages as the internet is not a good financial adviser when it comes to how one should handle their money, however, a quick overview of the way an ICO works, its token economics and its white papers is a good dive into what the ICO stands for.
Keeping all that in mind, it is essentially up to one’s own self whether they choose to invest in an ICO or not. Research, analyse and approach with caution. The world of ICOs is your own playing field and whatever way you choose to venture out in it, make sure you are fully equipped and motivated before doing so.