Interview with the Cryptics team
By: Crypto Unveil
Tags: Investment, ICO, Token Sale, Blockchain, Ico Interviews

1. What problem are you solving, why do you need the blockchain technology and what are the main pillars that define your company and differentiate you from your competitors?

Efficient and stable markets are profitable for everyone, it is proven in conventional markets. Crypto-assets have made an important step towards becoming a new economy, in particular by providing better means of financing entrepreneurial projects. The markets in crypto-assets are of great interest to all market participants, however the lack of stability prevents these markets from reaching their full potential and threatens to impose regulations onto them. Stability can be provided by traders and investors who post liquidity, but in these new markets, traders are more cautious of taking liquidity risks, due to a lack of reliable forecast models and understanding of market dynamics. For this reason, at CRYPTICS we believe that stabilizing the crypto-markets and making them more efficient will attract more people for mutual benefit.

The blockchain, Ethereum based technology will allow transparency and high scalability of our platform. The main points of trust in the private funds infrastructure are the smart-contracts that ensure a full transparency and also as an SLA regulator for our service, also allows us to build an fair and transparent fund infrastructure to grow a high number of private funds build on trust.

The analysis of the market, which we provide in the corresponding section shows the absence of a similar analytical platform in the market of crypto-assets. Along with the usual services of providing historical data and short-term forecasts based exclusively on such data, CRYPTICS offers a number of qualitative differences and advantages:

• The forecasts of other platforms are often short-term, and hence are used to manage private funds, rather than to provide information to a wider range of users.

• Other platforms mostly take into account only quantitative market data, while the CRYPTICS platform takes into account data from several important sources including social networks, macroeconomic indicators, opinions of leading analysts, etc.

• CRYPTICS will not only have a leading team of data scientists with strong AI skills, but will also provide a platform for contests, where academics can try tackling practical problems in ML and DL within the fast developing and challenging area of crypto-assets.

• CRYPTICS will provide its trader customers with an infrastructure for the decentralized creation of private funds.

CRYPTICS does not just claim to provide liquidity and transparency to the crypto-market but actually develops the platform which can help to achieve these goals.

2. What value are you adding to your industry value chain and which are the main obstacles to the success of your solution?

Cryptics is a platform that unites investors, traders and quantitative researchers in their goal to gain profit from cryptocurrency markets. We also have our own prediction AI which is based on neural network and generates prediction with up to 72,8% accuracy. Our goal is to increase safety and reliability of crypto-markets by providing a support for market participants, who take the risk of drastic changes on the market and provide liquidity on exchanges and a safety cushion for the retail investors by increasing transparency and understanding of cryptomarket, since it is so vital for the new economy they are helping to build.

Speaking of the main obstacles to quickly reaching success, we can distinguish the following:

● MVP (Minimum Viable Product);

● Need for investment in product development and marketing;

● ICO organization (need to close all legal and organization issues as soon as possible); need for top professionals;

● AI experts.

3. Why did you decide to launch an ICO and why do you need a public Token Sale

Fundraising and the release of CRYPTICS utility tokens is intended to finance the development of the platform and to attract the best talent to make the product as reliable as possible.

Since the beginning of October 2017, CRYPTICS has been posting daily forecasts on our corporate web-page https://cryptics.tech/, in order to demonstrate reliability and transparency of CRYPTICS unique feature to our potential customers and token holders. Our forecasts are generated by a neural network, which analyzes more than one 100,000 social data sources, how often these prohibitions are discussed, how they are discussed and the behavior of the crowd. We already have historical results and post daily prediction researches in our social media which shows 1 day ahead analysis. Next step is to create HFT module which will show results 10–15 seconds further. This is will be helpful for intraday traders, scalpers and any person seeking a good condition to enter into assets. We also developed a module to collect all important social and news signals that we can use in our neural network, to make the forecasts more valuable and flexible.

Since all CRYPTICS services are provided in layers (forecasting system, AI community collaboration, private funds platform etc.), raising close to the hard cap only means that we will be able to launch all of our services faster. Raising a smaller amount will still enable CRYPTICS to launch the services one by one, only the development time is going to take longer. For this reason, we do not introduce a soft cap. Any amount raised will be directed at product development.

4. How does your token function within the platform and why is it needed? How did you decide the total supply and distribution among stakeholders?

There are three main ways of using CRYPTICS QRP Tokens within the platform:

QRP Tokens will be used to acquire products and services of the CRYPTICS platform (Forecasts, for example). The CRYPTICS price list will be nominated in USD/EUR and in QRP. QRP Tokens will be utilized to access private funds on the CRYPTICS platform; QRP Tokens will be used as a medium for several types of rewards for such activities as devising the successful strategies that will be published, sharing information, training, podcasts, running online info events and for users participation in competition to improve forecasting algorithms.

A total of 100,000,000 CRYPTICS tokens will be provided. The cost of 1 CRYPTICS token is estimated to be 0,001 ETH.

We are planning the token distribution in the following way: the biggest part (66%) will be sold to tokenholders, 31% will be reserved for advisers, partners and team, 3% will be used on bounty.

5. Where do you see the value of your token in the medium to long term and the ultimate benefit for the token holders?

CRYPTICS is expecting to reach the amount of 88,000 users by the year 2021 with an average revenue per user (ARPU) of 1,084 $.

CRYPTICS will launch a token, which will be used to pay all fees on the CRYPTICS platform. It is the only mean of payment in the platform. QRP is the payment for investing in private funds on our platform, as well as payment for traders for their strategies and investors to get return on investments from the private funds.

6. Thinking about the future, what are your plans after ending the ICO? Are you afraid that the volatility of the cryptocurrency market might affect the economy of your project in any way?

We are not afraid at all, because the product and the platform will be developed in any way, sooner or later. But the development speed really depends on the funding as we need a solid hardware infrastructure.

After conducting the ICO, we are planning to perform the next steps:

● Full bot integration for all market transactions;

● Development of the decentralized funds infrastructure;

● Automatic portfolio management based on KPI forecasts;

● Introducing real-time signals from media to increase the speed of forecasts;

● Launch of the decentralized funds managed by CRYPTICS users.

CRYPTICS is not going to create its own fund to avoid potential conflicts of interests with our clients. Instead we will offer to our users:

● The possibility of creating private funds, to get capital support from other token holders and manage these funds or just their own portfolio in order to increase profits;

● Each user can publicly open their portfolio, as well as share it with other users, while earning a percentage of the profits from transactions made within this portfolio as a reward;

● Each user will have a set of predefined portfolios that will automatically hold key indicators through analytics and forecasts in real time;

● CRYPTICS provides its users with an infrastructure for the decentralized creation of private funds.