Curveblock envisions the ability for anyone to invest in real estate. The idea is to use blockchain to stabilise real estate markets.
Their funds are unsupervised by a third party.
Their fund allocation is vague as it depends on a lot of factors, according to their roadmap. There is no specificity when it comes to what is going where.
They state they are legally binding, but there is limited evidence for this. Limited supervision of funds and no exit scam proofing is concerning.
Their CEO cannot be found on Linkedin.
CurveBlock is a risky investment. There is no evidence that they are legally bound and their funds are unsupervised. There is a very limited soft-cap, and limited company supervision.
An expert review of Curveblock's upcoming ICO
Curveblock was founded in August 2018, under a UK incorporation and UK/USA. Two directors and its CEO do appear in the records.
The company was incorporated with 1,000 GBP capital, implying limited tangible assets and liability at this point.
It’s incorporation was for the development of Curveblock and the selling of CBUK only.
Their subdivision of shares document is bare, giving extremely limited information.
CurveBlock states on their website that they are legally bound and will work with third-parties to keep their platform secure. There is no evidence that they are legally binding.
Security here appears to mean that funds will be protected from theft, rather than investor security.
Working with Stratis, Quantstamp and Hacken means that the platform and contracts are securely distributed and held, but does not assist the content of these contracts or with fund supervision.
CurveBlock do show their planned allocation of funds on their company website, however the plans that they display are vague and unspecified.
There is currently no third party supervision on how CurveBlock’s funds will be allocated.
These points imply that any investment in this project will be high risk. The team and their project remain without IFSS.
CurveBlock’s plan is to use real estate and the real estate market as an investment using cryptocurrency and blockchain.
Two directors, Mr Joey Jones and Mr Arran Micheal Import, were appointed on the same day on the 15th May 2019. Neither seem invested in the project and haven’t had much effect on it’s development as they are both directors elsewhere.
Their company has done little since its incorporation in terms of their project. Only the funding and pre-ICO have been implemented. The ICO is currently underway.
How the project will develop in 2021 in their road-map merely states that 2019/20s goals will be repeated, implying little long term planning.
It is impossible to see the CEO’s expertise in blockchain, and difficult to see how blockchain will be implemented in their project.
In their whitepaper, only the fact that blockchain will be used is mentioned, not how it will be used. There is a brief mention that it will be used for securing ledgers, meaning that there is a possibility blockchain will not give security to investors.
In the white-paper, their road-map is also vague, only showing yearly planning and not monthly. It doesn’t take into account immediate fluctuations in markets and only looks at general trends.
Utility tokens do not represent any right on the project, and should not be considered as an investment; in general, the chances of appreciation are less than what expected.
Investors should be aware of the risks associated to the ”failure to deliver” white papers promises, which can nullify the utility of the token.
To us, the project entirely relies on ICO investors’ funds and that raises a clear red flag on the venture.
Their plan is to leverage real estate where every other similar project has failed. 40% of property owned on an authority register cannot match the authority of the token. While they acknowledge this they do not say how they will overcome this.
CurveBlock’s ICO does not have a fair distribution of tokens among the parties:
– selling 50% of their tokens during pre-sale also displays a red flag as it appears possible for the company to pump and dump.
– the soft cap is not intended as it should be, if the goal is not achieved there will be no cancellation of the sale. This condition hugely increases the risks for prospective ICO investors
Most of the CurveBlock team is registered within the UK, Ireland or USA. Only two are from other countries, Malta and Japan.
The team profiles that can be found do show a high level of experience in blockchain, however the CEO himself is not found on Linkedin.
Their credentials are immediately clear. However, not all of the advisors appear to have shown a connection to the project, with many involved in multiple other jobs.
There is a clear experience in Blockchain throughout.
CEO/Founder – N/A
Working on four other projects.
Primarily lists another job as his main job, implying limited investment into CurveBlock.
Same as above, not even listing CurveBlock.
Works as a Director elsewhere.
No Linkedin profile.
Works more in land development than in blockchain or ICOs.
Working on six projects currently.
Favours his other jobs on his profile over CurveBlock.
Appears to be more of an influencer than an advisor. Links to the CurveBlock project are listed, however it appears they are working on ten projects currently.
Profile says he is ranked first on ICO bench, when in reality he is second. This discrepancy could be due to changing rankings and not updating his profile. CurveBlock is listed, but again, so are nine other projects.
CurveBlock is not listed on this profile, yet nine other projects are.
Highly experienced consultant, but CurveBlock is not listed.
Displays a complete lack of focus with a total of twenty projects. With no CurveBlock listing this implies even more projects.
CurveBlock is a risky investment due to no clarity with their business goals. Their allocation of funds has no specificity, and their business plan is flawed.
Their CEO cannot be found on Linkedin and so his credentials are unknown.
There is limited third party safeguarding and no exit scam proofing. Many claims are vague and need further auditing to become valid. Their business plan has also failed with every other company who has attempted it.
ICA is committed to warning investors against ICOs which have no third party safeguarding the allocation of the funds derived from ICOs, no ICO Funds Supervision Scheme deployed.
Gary C Woodhead
Laura K Inamedinova
Toni Lane Casserley
ICO begins: 31-03-2019
ICO ends: 30-09-2019
Token Name: CBUK
Soft Cap: 5m GBP
Hard Cap: 50m GBP
About this ICO:
– Limited soft cap
– Low hard cap
– No fund supervision
– Displays vague fund allocation
– Risky investment in real estate
The issuers of this ICO have not commented on this review. If you represent CurveBlock contact us to request auditing and subscription to IFSS.