In case you haven’t gotten the memo, seen the Twitter posts, read the raving review, or heard about it on our brand new newsletter – Devery is about to be one of the most successful recent blockchain projects of the year. Why? Read on, dear reader, read on.
A Problem That Needs Fixing
So what’s all this supply line nonsense anyway? In case you haven’t heard, there is a big issue with counterfeit items and whatnot in the present day. I’ve written about this before in my WaBi review but here’s the Cliff’s Notes: This counterfeiting and false product epidemic has seemingly swept through China. Counterfeit goods and products in the region are astronomically high, and this seems to only be growing. The total value of IPR seizures (the seizing of counterfeits) has increased by more than 25% each year since 2005, with the exception of 2009 which posted a small decrease. There was a 25% decline of all importations in FY 2009 compared to FY 2008. From these charts, one can see that for 2009, there were 14,841 seizures with a domestic value of $260,070,000
China, making up around 60% of these counterfeit goods, is the “head of the snake” so to speak, with regards to mounting an offensive against these counterfeits. Companies such as Alibaba have even taken measures such as buying small quantities of goods themselves from vendors in order to check for their quality. Until blockchain, there hasn’t been a truly verifiable way of checking whether an item is genuine and original.
Devery uses RFID technology to mark and track protected items and verify that they are genuine, by placing an identifier on the chip which can be checked on the blockchain for authenticity.
Ultimately this kind of product is super useful and quite the amazing application for blockchain technology as far as this writer is concerned. We’ve seen some forrays into this kind of tech with things such as the Linux Foundation’s Hyperledger, and more recent competitors WaltonCoin and WaBi – Devery is the less spoken of project, however, and one which I feel has the best current potential of the lot.
The Market Is Hot
So I mentioned up above Walton and WaBi – we’re all traders here, so let’s talk market caps. Waltonchain is sitting at a cool 425 Million USD market cap, and WaBi grew over 20 times their presale price to balloon to a project valued at 135 Million USD. Needless to say, this market is EXTREMELY hot and people are clammoring for the next big thing when it comes to supply line/product verification.
Devery, on the other hand? A small 10 Million USD hard cap – very little pre-sale marketing, and low hype moving into the main sales and beyond. And that should make you exceptionally bullish – the projects with the least hype going into their sales have often had the biggest returns of last year. Some examples include District 0x barely hitting minimum cap, Neblio going something like 50x+, and even the aforementioned WaBi existing for a majority of its pre-sale in a low hype environment (let’s not even talk about Dragonchain…). That means Devery has found friends here, a sleeping giant, a powder keg that is ready to be ignited. And my friends, will it ignite.
A Low Cap Beast
Not only that, but Devery stuck to their guns when approached by entities with huge wallets and decided to stay fair to the crowdsale buyers:
We’ve mentioned this previously but during the crowdsale we turned down several million dollars in funding from a number of potential buyers, investors and pools. Most of these parties requested large discounts which we rejected to ensure the presale was fair towards all contributors.
The crowdsale for Devery is scheduled to open just tomorrow with tokens distributing and unlocking shortly after. If you haven’t already whitelisted yourself (unlucky), you can still sign up to Devery’s waitlist and pray for the best. If you still can’t get in, head to your local Etherdelta page when tokens are released and try to get on this rocket – as the great Crypto Beak once said, Etherdelta is where you get on the rocket before the ship is even built. Stay safe out there and happy trading,
Note: Globalhalo is partnered with Devery and has invested into their product. This is not a paid article, but you should still do your due diligence and research before investing in anything posted here.