Reviews and feedback about Trufield ICO


#1

Hello, we would appreciate honest reviews and feedback on our project Trufield and ICO which is live. Website Link http://trufield.com.


Can Social Causes be Profitable?
#2
  1. Yes they can be, but should they be is really a question I’d like to see answered.

  2. Your website is currently not displaying anything, all it shows me is a blue background but no images or text or links / menus are loading. It is literally just a blue page. I tried reloading it on several machines and finally got it to work, by this time I had already gone through the white paper so the website was basically a repeat of the white paper (or vice versa).

  3. I was able to access the whitepaper through ICOBench, also did a quick scan of the team:

  • None of the team have a link to their social media pages / LinkedIn
  • This makes it hard to validate the team’s background and the team’s experience in both blockchain technology, ICOs and the medical field.
  • A quick search on LinkedIn for a random selection from the team show none of the people have medical experience and none of the people listed had any affiliation listed with the Trufield project, this is a red flag. Are they really on this project or just a random selection of individuals from LinkedIN?
  • All the people I checked (about 7) live in the UK, it’s hard to determine the claim from the white paper that they have first hand experience.
  • The co founder and person with medical experience (Dr. Joseph Gbene) exists on LinkedIn but is not affiliated with the project.
  1. White paper:
  • There is a total supply of 100,000,000 TRUF, this corresponds to 40M USD based on current ETH value
  • Founders and advisors own 12% of total token supply, this seems high for a social project; especially given that this is a larger amount than what is allocated to user growth.
  • 5,000,000 tokens are allocated for community and user growth, this seems extremely low given the fact that this system targets rural communities and communities that have a lack of or sporadic internet connection. Convincing people and health care providers to participate will require a gigantic effort, I don’t believe 5M tokens or 2M USD can cover this at all.
  • There is a reserve of 1,000,000 tokens (or 400,000 USD) for bounties and referrals, this is OK for the size of the project but way to high in comparison to the community and user growth.
  • The roadmap is overly aggressive, I highly doubt you can build the centralised storage system, the applications and the Ethereum components and fully test it in 5 months time. Especially since you are dealing with highly sensitive information. To start testing with selected entities (presumably medical care facilities) by March 2019 is highly unlikely.
  • The advisors are nowhere to be found on social media and people with similar names are not associated with the project.
  • The white paper talks about using ERC020 but doesn’t explain how it will be used. If you’re going to use ethereum ERC721 would have made more sense to me.
  • The white paper only briefly touches on the overall structure.
  • This statement isn’t really covered in the white paper, it does talk about potential advertising, which is understood to maintain the platform free of charge.
  • How a user will be able to protect their data and allow access to their data is quite unclear.
  1. I like the overall concept and the very real world problems it can solve.

  2. I like the idea of using USSD, however the whitepaper refers to it as a Trufield unique protocol, which isn’t explained anywhere. USSD is not unique to Trufield.


#3

Hello Iwan.

Thank you for your comprehensive feedback. We really appreciate your interest.

  1. We are real people and all the named people are part of the Trufield Project. We have made a serious error by not adding the LinkedIn links to the teams profile. We will have this corrected by the end of business today. We will sort out the issue with the website page not loading as well.

  2. Most of the team currently live and work in the UK. It was here that we learnt about blockchain and this is where the Trufield project idea was born. However, most of us were born and raised in Africa. We have firsthand knowledge and insight of the problem and are working with other team members as well as hospitals back home in Ghana who are helping the project. We have made a fantastic discovery in Europe that we believe will also help people back home and around the world. Most of the team will be relocating back home to help implement and maintain the system when it is finished.

  3. We did set the hardcap at 100,000 ETH which is equivalent to $40,000,000. We included extensive marketing and educational programs aimed at convincing users to adopt Trufield platform in rural areas. Also, we hope to secure additional funding from governments and non-governmental to help with funding if need be. However, taking on-board your input, we will reduce significantly the amount of tokens to founders and the team and divert them to the community and user growth.

  4. In regards to the roadmap, we are very confident that with the right funding, we will be able to deliver in the set timescale

  5. The Trufield ERC20 tokens can be described as a paid in advance service. Vetted Investors and institutions can spend their tokens to gain access to de-identifialble patient data. This data will be extremely valuable to companies like pharmaceuticals, healthcare providers, governments etc. We will add interactive features that patients will like to use when they not ill and may not require their medical data called the news feed feature. Here Investors can also spend their tokens on the news feed feature of the Dapp. This will allow them to place approved information, adverts or services on the Dapp. We will partner with charities that will accept Trufield as charitable contributions, this means investors can contribute to social causes using their tokens.

  6. Users will be able to protect their data because hospitals and healthcare providers will not store their data.For example, when a patient who goes to a new hospital, the hospital will request the patients medical information from the Trufield system. The system will then send the request to the patient who can say YES/NO to allow or deny access. Patients can also set how long they will grant access for. This puts patients in complete control of their medical records.

  7. USSD protocol is not unique in itself, but using USSD to input and access medical information is unique. Also having USSD data entries secured on the blockchain is unique. that is why we say Trufield Unique USSD protocol.

We hope we have done our best to answer your question. Please give us more reviews and pointers. We welcome all the help

Regards

Trufield Team


#4

You’re most welcome, always happy to review and assist on projects, especially socially responsible ones.

Excellent, that will also boost your rating on ICOBench as this is one of the factors they consider, it will also help build up peoples confidence in your project.

I think the whitepaper might benefit from this information, as well as possibly identify the hospital(s) / medical professionals you are working with.

I think this would also benefit the white paper in terms of information and clarification about the growth of the project post ICO.

I didn’t mean to imply that you needed to reduce the amount of tokens allocated to yourself but it is a significant percentage of total funds on a mostly not-for-profit project. The alternative is to increase the hardcap (provided it makes sense to do so).

Asweome :slight_smile: love to hear votes of confidence from the founding team.

Here I can actually help, we are in discussion at the moment with a upcoming solution that is build specifically around distribution of funds for charities, transparency and control of such funds and ensuring that the funds are allocated to the right project / charity / ecosystem and controlling the spending of the charity funds through milestones (regulated through smart contracts). That system will go live by September 2018; let me know if this is something your project would also want to look at and we can discuss this further offline.

I love the idea and thought behind it, I’m just looking more for a practical implementation of this control with ERC20. will it be linked to private key? Will that be practical? Is this managed off the blockchain through the centralised storage or through the token economics?

Understood and agreed.

Great answers and clarified almost every concern / comment I had, thank you very much.

Kind regards,

Iwan


#5

Hello Iwan. We are very interested in your project that is built specifically around distribution of funds for charities, transparency and control of such funds and ensuring that the funds are allocated to the right project / charity / ecosystem and controlling the spending of the charity funds through milestones (regulated through smart contracts). That system will go live by September 2018. Will be happy to discuss this further.
This is my personal Email: kayowusu@gmail.com
Regards