The founders of BlockCAT made promises similar to those of Sparkster, another ICO holder that funnelled millions into an unrealised platform. They openly stated that they were building a “visual smart contract designer” that would allow anybody in the world to create and deploy smart contracts to the Ethereum blockchain without having any knowledge of code. Again, very similar to Sparkster’s promise of creating toolkits that a user could utilise to construct tools without any prior knowledge.

However, BlockCAT have currently made very little advancements along the path of their roadmap and have created just one (badly performing) product. The value of their coin has plummeted by approximately 98% and is now almost untraded on the few exchanges it’s listed on. The token has lost all utility and the 7m USD raised in funds has been absorbed without a trace.