CRYPTO COIN.: ( GREENBIT ICO )

One of the ongoing ICO'S that has got investors talking, is the GreenBit ICO.

I will try to review this ICO as far as I can. but first, let us look at the underlying technology of GreenBit.

According to their whitepaper, 'GreenBit is the first blockchain CRYPTOAGRO based cryptocurrency, a decentralized marketplace for farmers, merchants, grocery stores, agro-allied industry and consumers, with unique ecosystem and physical entity trading on the world's most traded commodity agriculture with over a billion employees.'

From their whitepaper, it is obvious that GreenBit seeks to create a decentralized ecosystem hinged on blockchain, where agricultural commodities as well as agricultural related services will be carried out using their own cryptocurrency(GreenBit coin)

Now, regarding ICO investment, several questions runs through the minds of investors on whether to invest or not.

Such questions are usually linked with Team behind the project, Need for developing the project, social community, Roadmap, ratings, competition, proposed token projection, etc.

So, let us look at these factors more closely.

"TEAM BEHIND GREENBIT PROJECT"

A number of investors believe that if members of the team backing up a project is made known, then chances of such project turning out as scam will be less.

In the case of GreenBit, Dale Klonis is know to be the Founder alongside, Igor Banderenko as Co-Founder.

Currently, there are eight (8) members backing up GreenBit as Team and Partners.

Therefore judging from Team perspective, there is a green flag about the project.

"GREENBIT TEAM"

"THE NEED FOR GREENBIT PROJECT"

If a project does not solve any problem, the question will then be; why developing such project.

I do think that investors should know that such projects that does not solve/address any problem will likely turn out as a scam project....no investors would like to waste his/her hard earn money on such project.

As for GreenBit project, the need is hinged on access to enhance digital asset volume of agricultural products and services in an exponentially rising global market.

'Online agricultural dealings, being the target segment for GREENBIT Projects, is expected to grow from $1 billion market capitalization to 3.1 trillion in 2020, transacting about 30% of the market. Online food/health transactions alone being a target segment for GREENBIT, is expected to grow from $98 billion in 2015 to $290billion in 2020, according to IDG estimates.'

"GREENBIT SOCIAL COMMUNITY"

Social community is another indicator to tell if a project is heading towards success or not. It shows the level of attention a project has attracted.

GreenBit operates social handle such as Facebook, Twitter, Telegram, Reddit, etc.

Facebook handle has got about 633 followers while Twitter handle has got about 1.7k followers. Telegram group where more direct interactions between investors and project team occur has got 17.7k members.

Considering the numbers, I think great noise has been spread about GreenBit with more potential investors likely to join.

"GREENBIT ROADMAP"

Roadmap stipulates the activities intended to be carried out.

From GreenBit roadmap, it is believed that serious efforts have been made towards developing the project since 2015. In line with roadmap the forth quarter of 2018, it is expected that more awareness will be created to enhance mass adoption of the project which will ultimately increase the value of the GBIT coin, thus investors can make profit with such growth.