IronBlock ICO review

What is IronBlock?

IronBlock is a marketplace and service platform for the global forestry, farming machinery, mining, and construction markets. These markets are valued at over $1 trillion. IronBlock is founded upon the blockchain technology.

Main Features

• IronBlock certificate – this is a blockchain based certificate that specifies the operating condition of a seller’s machinery.
• Licenses – Uber is provided for agents and maintenance centers. Authorization is given to local centers for the purposes of performing maintenance and issuing certificates. Agents also provide Escrow and transaction support services.
• IronBlock Techpass – this is a maintenance log that is founded on the blockchain. A comprehensive maintenance history that details the entire service life of the machinery is given. This works to assure users of authentic and complete information.
• Market – one of IronBlock’s main features is a marketplace that gives dependable information regarding all the lots. This ensures there is compliance to transaction terms and conditions.
The image below summarizes its functionality:

What are they solving?

• Increased centralization – Centralization, as propagated by most systems, results in many problems. Top on the list is the time it takes for transactions to be completed. Furthermore, a few parties end up benefiting from the process at the expense of others. IronBlock aims to come up with a global decentralized platform. The resulting marketplace allows for services and transactions involving special machinery without the involvement of a third-party, hence solving the problems linked to centralization.
• Absence of market transparency – at the moment, there is barely another system that supports a direct connection between buyers and sellers. IronBlock seeks to eliminate intermediaries, and have the parties involved reap the benefits of minimal interference.
Advantages of IronBlock
• Short-term trust – clients need to believe the information being offered to them concerning the machine’s operating condition.
• Long-term trust – rental and leasing companies require there be an allowance for remote monitoring of their machinery as they are being operated.
• Improved cross-border and escrow transactions – with IronBlock, both buyers and sellers are guaranteed that all the obligations will be fulfilled in cross-border transactions.
• Increased accessibility - for both buyers and sellers to the global market. Currently, most platforms and auctions give global access to around 2 percent of the entire market. At the same time, leasing companies, buyers, and sellers are all limited to their respective local markets.

Their Team

The IronBlock platform was created by around 70 professionals that are specialized in the creation of complex IT systems. The team has a deep understanding of machine learning programs, blockchain technologies, and chat-bots. The core team includes Alexander Shukov and Evgeniy Shmyrin who are both co-owners. Alexander is the CEO with extensive knowledge of specialized machinery whereas Evgeniy has entrepreneurial experience in IT start-ups. Alexey Gorelov, also a co-owner, is in finance and controlling, and is also involved in investor relations. George Turnov offers legal advice to the company. Nikolay Pakhtusov offers technical support needed for platform implementation. Alexey Drozdov is a platform interface and user experience developer and designer. Generally, the team has the capability to make IronBlock successful.

Token Structure/distribution

The IronBlock (IRB) token is set to be used for fees and in-platform services as a payment unit after the launch. The token demand and subsequent market value will grow as the database and transaction volumes increase. Once the company achieves the required token liquidity, loyal users will be at an advantage from saving tokens meant for later payments. This strategy will cause a deficit in IRB’s supply, hence the value will increase. The IRB token will be available in different exchanges post-ICO. As the project develops, the presence of the token will be increased continuously on major platforms. For those who make payments using the IRB token, IronBlock services will be available to them at a discount. Promotions and loyalty programs will also be availed to encourage users.
The ICO is scheduled as follows:

What do we think of this coin and why do we think so?

Unlike most other coins, IronBlock solves a real problem. People are constantly looking for services requiring the use of special machinery. As such, as long as such services are required, the tokens will always be in demand. At the same time, the team behind the coin has extensive knowledge on the same. They also seem committed to making it a highly competitive platform, by constantly working to improve user experience. The team has also managed to raise considerable hype on their project, an important factor for any coin that hopes to be successful.

The company should continuously focus on improving user experience. The availability of a working application for their users could be a great plus. Moreover, any disputes that arise for whatever reason should be resolved as fast as possible, so as to heighten users’ confidence in the system. They should also explore other technologies, with an aim of always being on top of things. Using the latest technology makes it possible for services to be maintained within the expected levels.

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