Introduction

The Fabric Token Ecosystem is a new Initial Coin Offering that aims to unite businesses and individuals with blockchain technology and smart contracts. The main intention is to help people and companies to create decentralized applications (DApps) without the need of specialized computer programming knowledge.

The Problem

Blockchain technology and smart contracts are widely misunderstood. Most of the enterprises and individuals believe that they are just synonym of two of the most famous cryptocurrencies, Bitcoin and Ethereum.

Blockchain and Smart Contracts seem to be taken as an experimental technology by these businesses. And if they try to work with them, the lack of user-friendliness makes it more difficult to be adopted. In general, so as to create DApps, it is necessary to understand a software that it is not easy to use without the necessary technological expertise.

This situation creates businesses and individuals investing in high paid specialists that are mostly unaffordable for these startups with a tight budget. Smart Contracts and Blockchain have different advantages, but without the required knowledge and specialists, the key benefits of these technologies get lost.

Furthermore, there are not so many developers in the market, and lots of them can overlook bugs in the different codes. That leads to hundreds of millions of dollars’ worth of losses. Besides that, Solidity, Ethereum’s programming language, it is in its early stages and programmers need to be fully aware of the way in which blockchain technology works.

Solution

There is a solution for these problems that we have written about. This solution can be found in the Fabric Token ecosystem which is conformed by the Fabric Token, TokenGen, DApp Workbench and the Fabric Store.

  • Fabric Token

The Fabric Token (FT) will be the utility to pay for various products and services within the platform. If a start-up wants to create token and fundraiser smart contracts for their project, they will have to pay a small fee in Fabric Tokens to get access to the code.

In another section we will analyse the future token valuation.

  • Fabric Store

This is a decentralized marketplace for smart contract components. The Fabric Store would allow developers to earn tokens and build a reputation by complementing TokenGen and DApp Workbench with their built software components. These programmers will allow the Fabric Token ecosystem to grow, expand and success by providing better possibilities for businesses and individuals.

The marketplace works based in blockchain technology. That means that the products will be fairly reviewed protecting sellers and developers from fraudulent actions, a very common issue in traditional online stores.

  • TokenGen

The TokenGen can be defined as a simple web application for smart contract generation. TokenGen and its application will allow users to generate smart contracts for their tokens guided through a step by step process. The intention is to make a user-friendly interface and process for every enterprise and individual.

The user will be able to select the token and fundraiser functionality, the name, symbol and every single detail, and everything paid with FT. The result will be a fully tested and secure smart contract code as requested by the user. If further implementations are required, the full documentation on all smart contract templates will be created.

  • DApp Workbench

The DApp Workbench is the platform created for businesses that will allow them to incorporate smart contracts and blockchain into BPM. It is simple to do it, the enterprise will just use an application with a drag-and-drop interface, which will make use of the BPMN 2.0 standard, enabling the import and reuse of diagrams created using other BPMN-compatible tools.

Explanatory Diagram 1

Explanatory Diagram 1

Explanatory Diagram 2

    Explanatory Diagram 2

Roadmap

The roadmap is explained in the ICOs website in a clear way and with detailed information.

The team has decided to choose certain months in order to explain how the development of the ICO will take place. In September and October of 2017, the team started to work on the TokenGen and in the development of the DApp and Workbench. For February 2018, the ICO plans to have a fully functioning web application for token and fundraiser smart contracts generation.

In April, the intention is to provide additional smart contract templates for both token and fundraiser functionalities.  Later in July, the DApp Workbench Public Beta will be released including the fully functioning DApp Workbench desktop application as well as cloud with a limited set of smart contract components.

The different stages are explained in the ICOs webpage.

Token Distribution and Budget Allocation

The token distribution will be as follows:

80% will be available for sale to the general public.

12% will go to the Fabric Token core team.

7% will be allocated to advisors and released after 6 months.

1% will be used for the bounty program.

The token distribution seems to be okay compared to other ICOs. The team has a small percentage of the tokens and they will be released after 12 months in order to reduce conflicts. The budget allocation is also explained in the white paper. 55% of the total budget will be allocated to the core Fabric Token team so as to allow the development of the DApp Workbench product and improvements to the TokenGen tool.

Should I Invest in Fabric Token ICO?

Before we give an opinion about whether this ICO is a good investment or not, let’s take a look at the main characteristics of this ICO.

  • Team

The team is conformed by several experts in different fields and areas. The core team is conformed by Nikolay Nikov, Marin Ivanov, Doncho Karaivanov, Dimitar Boyanov, Krastyu Georgiev, Marian Nedelchev, Milen Ivanov, Petya Valkova and Simeon Karaianov.

Nikolay Nikov:

Nikolay Nikov

Nikolay Nikov

Nikolay Nikov is the CEO of Frabic Token. He was working on the largest fraud detection software in the United Kingdom building the software security framework for a British Royal institution. Besides that, he is working as a Senior Software Developer in Luxoft and he worked as a Software Engineer and Scrum Master during almost three years.

Linked In Profile

Marin Ivanov:

Marin Ivanov

Marin Ivanov

Marin Ivanov is the CTO of Fabric Token. He has more than 10 years of experience in different projects related to web development, system applications and low-level embedded programming. He was working in different enterprises as a Software Developer and Senior Web Developer.

Linked In Profile

Doncho Karaivanov:

Doncho Karaivanov

Doncho Karaivanov

Doncho Karaivanov is the COO of this Initial Coin Offering. He works as a Front-End & Smart Contract Developer and he is a successful entrepreneur in digital marketing. According to the team’s webpage, he is the perfect person for a technical team focused on innovation and user experience.

Linked In Profile

The team is backed by different advisors in different frameworks. For example, Dimitar Boyanov, the business and legal advisor, is a software engineer that worked for many enterprises including Deutsche Bank as a Senior Business Analyst.

We can mention other advisors like Krastyu Georgiev, Marian Nedelchev, Milen Ivanov and Petya Valkova.

The team members have open Linked In profiles where everyone can see their past work and experience. This is important for knowing who is behind the ICO. Fabric Token was able to combine a group of experts in different fields and offer a product that seems to have a good future.

Team: 5/5

  • Whitepaper

The whitepaper presented by Fabric Token allow investors to have a deeper technical knowledge about how the ICO is built, the team, and other important documentation.

Fabric Token has developed a high-level with paper outlining the key points of the venture. It offers technical and general information that any investors should carefully analyse before an investment. High quality white papers mean that the project is in an advanced development stage and not in its infancy.

It is properly structured, with a well-divided index and a classic format. It is not exaggeratedly long but it is not oversimplified. Sometimes ICOs tend to oversimplify the white paper and others try to add as much possible information in complicated terms for it to seem more serious.

What many projects do is to present a technical white paper with all the most important details (in general for developers and highly-instructed investors), and a shorter and simpler version for the general public.

Investors do need to have a clear view of how the Token will develop in the future based on different analysis. The white paper does not have this information that has an important influence over the final decision of the investors.

White Paper: 4/5

  • Business

Businesses interested in the Fabric Token could save a lot of money when buying Fabric Tokens. With them, the enterprise can have access to Blockchain technology and smart contracts without spending tons of dollars in experienced, and difficult to find, blockchain developers. There is a high demand for developers with a deep knowledge in blockchain and smart contracts but the offer is not able to fulfill the demand.

If an enterprise bought Fabric Token, not only monetary costs will be reduced, but the company will be able to save important time. There is no need to make a deep personal research of developers and investing time in developing the products itself. With the Fabric Token, enterprises will pay much less, for an easier-to-understand product within a user-friendly platform.

Time will tell wether the platform will be really user-friendly and if it will help enterprise to reduce budget and time searching for experienced developers.

Business: 4/5

  • Website

Fabric Token’s website is clear, it loads acceptably fast and it has a good amount of information. It does give information about the Fabric Token ICO, the problems that it tries to solve, the solution that it wants to develop, a clear roadmap, the team and other minor information.

The website has a simple structure and a menu of options that allows everyone to keep investigating about this ICO.There is also a link to the white paper in the main page, which makes it easier if a user wants to read it. That allows the reader to avoid the menu and find everything just scrolling in the main page.

Website: 5/5

  • Token Evaluation

Fabric Token is developed on the Ethereum platform and will be used to pay for various products in the platform. If an enterprise wants to use the platform, then it must buy Fabric Token in order to purchase different products.

This token seems to have a good future depending on how the Blockchain and Smart Contract world will grow. If there is a strong growth, the future could bring an important price increase to this currency. That would be worth of an investment.

Blockchain technology seems to have a bright future. More enterprises and governments are using so as to perform many different tasks. It is important to mark that if the platform grows and becomes popular, its token could be worth much more in the future.

Token Evaluation: 3/5

Conclusion

This ICO seems to be a complete one, with a good developer team, with a clear roadmap and a good white paper that explains in detail what the company wants to do. The main intention is to empower individuals and businesses with an easy access to blockchain technology and smart contracts.

The Fabric Token Ecosystem will be helpful for the society if it breaks into mainstream adoption among start-ups, small and big businesses, governments and individuals.

Total: 4/5

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