WHO ARE THEY?
Travel’s industry is one of the most obvious industries to implement blockchain technology. Today we’ll look through the project – Lotus – which is going to become worldwide travel agency on blockchain.
It seems to be interesting, but only at first look. When I was preparing this review, I’ve realized that their White Paper consists almost only of token sale conditions. I’ve tried to find something valuable about the project – but couldn’t. All what they’ve got is few sentences about their business model which are reduced to the following:
As you can see, Lotus team has declared only one function which low-fees transactions. It’s very good, but why do we need it at the same time with all existing cryptocurrencies like Ethereum, Bitcoin or even, Monero? All of them are providing low-cost transactions and could be accepted by any merchant in the world. There is no objectives why will users pay in Lotus tokens instead of mentioned cryptocurrencies.
Another big issue for Lotus project is partners. They’ve declared in White Paper that they are planning to have physical presence in at least 60 airports by 2022, so it’s a 4 years period and it’s sound realistically, but again, why do airports management will partner with Lotus and why physical presence is needed?
Score: 1 out of 5. Comment: When you’re opening White Paper of the project, you expecting to see technical details and some sort of business plan. In case of Lotus project, there’re 3 pages with short overview without details and rest is about their token sale.
MAIN FEATURES OF THE PROJECT
For now, only one feature is announced its payments processing in terms of booking airplane tickets and later on they will provide payments for accommodation and so on. Currently, they don’t have working MVP or something like that, so it’s difficult to say something about their product. Doubts also add that release of MVP is planned after New Year and from my point of view, it’s very bad decision to launch ICO before MVP released.
Score: 2 out of 5. Comment: They’ve got roadmap and plan – what to do next. It’s not enough. No ability to test their product, provided.
TEAM OF THE PROJECT
Team section is one of the most developed sections on their website. I think that section – Team is developed even more than product itself. Team is wide and most of the members have LinkedIn account.
Score: 4 out of 5. Comment: Nice design for this section, LinkedIn profiles, enough members. Looks like 4!
- Ticker: LTO
- Token Price: 19 $
- Tokens for Sale: 40 500 000 LTO
- HardCap: 9600 ETH ( $6 720 000)
Score: 5 out of 5. Comment: ICO is mostly described component of this project. That is not good, but it’s 5 for ICO details.