Copyright © 2018 BlockNovum. All rights reserved.
SWISS BLOCKCHAINSTARTUPSMARKET SCREENING
2018
AUGUST 2018
Copyright © 2018 BlockNovum. All rights reserved. 2
BLOCKNOVUM SCREENED THE MARKET FOR NEW BLOCKCHAIN STARTUPS BASED IN SWITZERLAND
MARKET SCREENING –SELECTION CRITERIA
• Companies that leverage the blockchain
technology
• Service providers for the blockchain
ecosystem
• Manufacturer of hardware products /
infrastructure linked to the blockchain
technology (e.g. hardware wallet)
• Company has to fulfill one of following criteria:
▪ Founded and operational in
Switzerland
▪ Headquarter based in Switzerland
▪ ICO according to Swiss regulation
• Company counts as “Newcomer“ if one of
following criteria applies:
▪ Founded in 2018 with Web-presence
▪ Initial funding (VC, ICO, or similar)
secured in 2018 or planned later this
year
▪ Company gained visible traction this
year (e.g. prototype / product release)
▪ Projects that conducted an ICO / released their
main product in 2017 or before (e.g. Ambrosus,
Lykke, Melonport) are not included
BLOCKCHAIN FOCUS SWITZERLAND BASED NEWCOMERS
SELECTION
Copyright © 2018 BlockNovum. All rights reserved. 3
MARKET SCREENING OF 78 PROJECTSSWISS BLOCKCHAIN STARTUPS –NEWCOMERS 2018
FINANCIAL
OR
GA
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EN
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Copyright © 2018 BlockNovum. All rights reserved. 3
→ Click on logo to visit project website
TECHNOLOGY & INFRASTRUCTURE PERSONAL USE
Copyright © 2018 BlockNovum. All rights reserved. 4
SELECTION OF 15 HIGH POTENTIAL PROJECTSSWISS BLOCKCHAIN STARTUPS –NEWCOMERS 2018
FINANCIAL
OR
GA
NIZ
AT
ION
AL
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TA
IL &
EN
TE
RTA
INM
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Copyright © 2018 BlockNovum. All rights reserved. 4
→ Click on logo to visit project website
FINANCIAL
TECHNOLOGY & INFRASTRUCTURE PERSONAL USE
Copyright © 2018 BlockNovum. All rights reserved. 5
SHORT DESCRIPTION OF EACH SCREENED STARTUP1)
OVERVIEW OF BLOCKCHAIN NEWCOMERS 2018 (1/4)
Company Description
Blockchain supercomputer to host
Cloud 3.0 (next Gen of software)
Cryptoasset
Utility Token
Security Token
Utility Token
Utility Token
No Token
Utility Token
No Token
Utility Token
Utility Token
Utility Token
Sub-Category
• Protocol
• Computation
Token-based system to guide AI
research & collaboration of talents
• Artificial
Intelligence (AI)
Multi-asset and multichain
decentralized operating system
• Protocol
• Layer
“Wordpress” for blockchain apps.
Building blocks for dApps
• Platform
• Layer
Smart Contract audit platform• Cyber Security
• Audit
Liquidity network for blockchains• Layer
• Exchange
Hardware wallet for cryptoassets• Cyber Security
• Cold Storage
Environmentally friendly crypto mining
in the Swiss Alps
• Infrastructure
• Computation
Platform with tools to build blockchain
applications
• Platform
• Layer
Blockchain operating system to
connect various blockchains
• Protocol
• Layer
Company Description
New “next-generation” blockchain
protocol
Cryptoasset
Utility Token
No Token
Utility Token
Utility Token
Security Token
No Token
No Token
No Token
Cryptocurrency
Token
Utility Token
Sub-Category
• Protocol
Cryptocurrency wallet management
system and crypto custody for banks
• Identity / Access
/ Storage
Open science platform that is
powered by blockchain
• Publishing
• Content Monet.
Micro solar power-grid on blockchain• Energy
• Payments
Temperature sensitive logistics -
platform & smart containers
• Supply Chain /
Logistics
Platform to match knowlede workers
with projects
• Freelancing
• Governance
Hardware and software platform to
store and manage digital assets
• Identity Access
• Storage
Local energy community on blockchain • Energy
Digital payments for agriculture industry
(buy/sell produce, agriculture data etc.)
• Agriculture
• Data & Info.
Blockchain solution to build a zero
emission world• Energy
ORGANIZATIONAL
Copyright © 2018 BlockNovum. All rights reserved. 5
Utility Token
Utility Token
Blockchain supercomputer to host
Cloud 3.0 (next Gen of software)
• Protocol
• Digital Payment
Stablecoin for financial inclusion• AI
• Marketplace
Security TokenSatellite-connected modular & mobile
crypto-mining units
• Infrastructure
• Computation
Security TokenEnterprise-grade hardware security for
blockchain systems
• Infrastructure
• Cyber Security
TECHNICAL
1) Inclusion in list is no endorsement and does not indicate the quality and investment potential of the startup. The list solely provides an overview of the market in 2018. Selected Projects are assessed on a high-level in the next section and in company-specific research reports.
Copyright © 2018 BlockNovum. All rights reserved. 6
SHORT DESCRIPTION OF EACH SCREENED STARTUP1)
OVERVIEW OF BLOCKCHAIN NEWCOMERS 2018 (2/4)
Security Token
Security Token
TBD
Security Token
Utility Token
Swiss real estate tokenized on
blockchain
• Funds &
Investment
Blockchain asset (ICO) rating agency• Data & Info.
Platform
Community-based marketplace for
tokenized alternative investments
• Funds & Invest.
• Marketplace
Tokenized luxury asset platform• Funds &
Investment
Instant Crypto-backed loans • Lending
Company Description
Algorithm market for crypto trading
Cryptoasset
Utility Token
No Token
Utility Token
Security Token
Utility Token
Utility Token
Security Token
No Token
Utility Token
Utility Token
Sub-Category
• Trading
• Funds & Invest.
Blockchain-based bank with tokenized
assets & full deposit reserves• Banking
Blockchain-based mortgage
crowdfunding platform
• Lending
• Banking
Core Banking solution on blockchain • Banking
P2P credit marketplace for
cryptoassets
• Lending
• Marketplace
Transparent donations for charity
sector on blockchain
• Payment
• Charity
Next generation digital bank based on
blockchain• Banking
Cryptocurrency exchange• Exchange
• Trading
Car insurance on blockchain • Insurance
Factoring offering on blockchain
(liquidity network)
• Lending
• Banking
Company Description
Service to store, transfer, and manage
digital assets
Cryptoasset
TBD
Sub-Category
• Storage
• Wallet
Blockchain based Crowdfunding
platformTBD• Crowdfunding
Platform for the freelance economy Utility Token• Freelancing
Global green energy platform to trade
energyUtility Token
• Energy
• Exchange
Utility Token /
Security Token
Blockchain wealth management
platform and crypto funds
• Funds &
Investment
FINANCIAL
Copyright © 2018 BlockNovum. All rights reserved.
Privacy coin on bitcoin based
blockchain & payment/banking platform
Cryptocurrency
Token
• Currency
• Payment
No Token
Utility Token
Self-regulated Swiss Crypto exchange• Exchange
• Trading
Multicurrency wallet and hybrid
exchange
• Wallet
• Exchange
Utility Token
Utility Token
Value based healthcare platform /
pricing• Healthcare
Mobility platform • Transportation
1) Inclusion in list is no endorsement and does not indicate the quality and investment potential of the startup. The list solely provides an overview of the market in 2018. Selected Projects are assessed on a high-level in the next section and in company-specific research reports. 6
Copyright © 2018 BlockNovum. All rights reserved. 7
SHORT DESCRIPTION OF EACH SCREENED STARTUP1)
OVERVIEW OF BLOCKCHAIN NEWCOMERS 2018 (3/4)
TBD
No Token
TBD
Tokenized collectible cars• Funds &
Investments
Investment banking platform for
tokenized assets
• Funds & Invest.
• Banking
Decentralized liquidity network.
Payment & credit platform
• Payment
• Lending
Company Description
Virtual reality experience platform for
art and marketplace
Cryptoasset
Utility Token
Cryptocurrency
Token
No Token
Utility Token
Utility Token
Sub-Category
• Marketplace
• Art
Digital piggy-wallet for children• Currency
• Education
Digital sports federations and sports
data on blockchain• Sport
App and marketplace for personal gig
economy• Marketplace
Mobile game on blockchain• Gaming /
Esports
Company Description
Liquidity provision in a digital P2P
marketplace
Cryptoasset
No Token
Sub-Category
• Funds & Invest.
• Marketplace
Private Equity co-investment platform TBD• Funds &
Investments
Automated financial planning solution
(app)Security Token
• Funds &
Investments
Decentralized ICO rating agency No Token• Data & Info.
Platform
Security TokenTokenized real-estate and land registry• Funds & Invest.
• Governance
Copyright © 2018 BlockNovum. All rights reserved.
Utility Token
Security Token
Utility Token
Utility Token
Utility Token
Commercial real estate database
powered by blockchain & smart
contracts.
• Data & Info.
• Marketplace
Mobile game aggregator that allows
mining and payment via token
• Gaming /
Esports
Liquidity and exchangeability for loyalty
reward program points• Marketplace
Blockchain-based middleware protocol
for loyalty programs
• Marketplace
• Protocol
RETAIL & ENTERTAINMENT
Security Token
Security Token
Cryptocurrency
Token
Utility Token
Tokenized gold and silver - stablecoin• Funds. & Invest.
• Currency
Security tokenization platform
(Startups & SMEs)• Funds. & Invest.
Cryptocurrency with a focus on
sustainability
• Currency
• Payment
Cash to cryptocurrencies exchange • Exchange
Utility TokenICO Information Portal• Data & Info.
Platform
1) Inclusion in list is no endorsement and does not indicate the quality and investment potential of the startup. The list solely provides an overview of the market in 2018. Selected Projects are assessed on a high-level in the next section and in company-specific research reports. 7
Copyright © 2018 BlockNovum. All rights reserved. 8
SHORT DESCRIPTION OF EACH SCREENED STARTUP1)
OVERVIEW OF BLOCKCHAIN NEWCOMERS 2018 (4/4)
Company Description CryptoassetSub-Category
Copyright © 2018 BlockNovum. All rights reserved.
Utility Token
Utility Token
Utility Token
Utility Token
TBD
Utility Token
Utility Token
Secure blockchain-based exchange for
personal data
• Content & Data
Monetization
Self-sovereign eID and anonymous
monetization of personal data
• Authenticity
• Content & Data
Mobile Ethereum OS and discovery
tool for personal use
• Messaging
• Payments
Decentralized advertising exchange
with AI / target individuals• Advertising
Instant messaging for professionals /
business communication• Messaging
Certify skills, certifications, and
diplomas on blockchain
• Authenticity
• Reputation
Various smart contract applications to
connect people
• Social Network
• Marketplace
PERSONAL
1) Inclusion in list is no endorsement and does not indicate the quality and investment potential of the startup. The list solely provides an overview of the market in 2018. Selected Projects are assessed on a high-level in the next section and in company-specific research reports. 8
Copyright © 2018 BlockNovum. All rights reserved. 9
4 PROJECTS IDENTIFIED AS POTENTIAL INVESTMENT OPPORTUNITIES LONGLIST –TECHNICAL BLOCKCHAIN STARTUPS
CompanySub-
CategoryDescription Point of View
Stage /
InvestorsTeamAsset
Use Case /
Market
• Payment for
computation and
storage
• Security Deposit
• Voting Governance
Dfinity is a blockchain-based cloud computing
project. Its aim is to develop a decentralized
"internet computer that will become the cloud
3.0”.
It is registered as a non-profit foundation in Zug
and operates research centers in Palo Alto and in
Germany.
• Power open source
tech businesses
• Reengineer
Enterprise IT
systems to cut
costs
• Founded by seasoned
entrepreneur
• Experienced engineers
from Google and PhDs
from Stanford / Yale
• ~ 35 team members
• Post various seed and
presale rounds
• VCs: Andreessen
Horowitz & Polychain
Capital
• No ICO, but airdrop
• Tokens not tradeable yet
One of the most promising
blockchain protocols. Huge
market opportunity to cut cost
of cloud-applications and to
establish a decentralized
internet computer. High
quality team, backed by very
reputable VCs.
Protocol
Computation
Utility Token (DFN)
• Manage research
events and actions
• Storage of research
contributions / patents
• Compensation for
Intellectual property
The Mindfire Foundation is a Swiss non-profit
which is focused on understanding the
foundational principles which make up human
intelligence, and applying those principles to the
development of artificially intelligent organisms.
Participants are credited with their contributions
through a patented blockchain based format, to
track and attribute intellectual property.
• Advance research
toward “true” AI
• Record findings on
blockchain
• Discoveries stay
free of corporate
interests
• Founded by team of
entrepreneurs,
neuroscientists, and
professors (e.g.
previously at CERN)
• ~ 17 team members
• Public Token Sale
planned in November
2018
• Private investments
possible
• First research mission
took place in May 2018
High quality team and
partnerships. Very interesting
concept where token value is
associated to scientific AI
research. Tokens represent
voting and distribution rights
associated with the success
of Mindfire.
AI
Governance
Security Token (MFT)
• Unit of account, store
of value, and medium
of exchange to use
services of Proxeus
• Reward authors of
dApps on Proxeus
Proxeus makes blockchain technology available for
corporates and can be described as "WordPress
for the Blockchain“. It enables both traditional
and crypto-companies to digitize and run their
processes (e.g. legal, financing, sales, product,
HR, payment) in a decentralized environment.
This leads to speed gains and reduction in costs.
The company is based in Zurich.
• Tokenization of
assets
• Develop smart-
contract based
applications
• Legal and
compliance on
blockchain
• Founded by two
experienced Swiss
entrepreneurs with
blockchain experience
• ~ 22 team members
• Public Token Sale in
February 2018 ($25M)
• Token tradeable on one
exchange since May
2018
• Beta platform available
Relevant use cases that are
highly interesting for
corporates. Big forecasted
demand for corporate
blockchain services. Growing
team with strong funding as a
backing. Some concerns if
token can capture value.
Platform
Layers
Utility Token (XES)
• Fuel for operation of
protocol/compensation
• Mineable token &
reward for running a
node
• Voting via token
Essentia is a masternoded multi-chained set of
protocols. The protocol serves as a modular
decentralized interoperability and data
management framework. It links different
centralized and decentralized platforms, resources
and modules together, as well as interlinking data
across multiple services. The company is based in
Geneva, with main operations in Amsterdam.
• Link of platforms
and data, e.g.:
• Measuring
reputation of user
• Oracles for smart
contract
• KYC registrations
• Founded by web
entrepreneurs with
blockchain experience
• ~ 28 team members
• Public Token Sale in
June 2018 ($25.5M)
• Token tradeable on
seven exchange (incl.
Bitfinex)
• Version 1.0 of protocol to
be released end of
August 18
High quality project with a
relevant offering (working
product) on the technical
side. Protocol offers
integration with established
blockchains and applications.
Interesting tokenomics with
masternode system.
Protocol
Layers
Utility Token (ESS)
EXCERPT 1)
1) This represents an excerpt of a full market screening research report across all categories. Client research would include assessment of all selected startups according to selection criteria. Long & Short-list assessment criteria can be customized by client demand.
Copyright © 2018 BlockNovum. All rights reserved. 10
5 PROJECTS IDENTIFIED AS POTENTIAL INVESTMENT OPPORTUNITIES LONGLIST – FINANCIAL BLOCKCHAIN STARTUPS
CompanySub-
CategoryDescription Point of View
Stage /
InvestorsTeamAsset
Use Case /
Market
• Participation in
network (voting,
rewards, priority acc.)
• Share in crypto fund
Holistic wealth management platform for cryptos.
The project leverages blockchain technology,
machine learning, and community’s swarm
intelligence via referendum votes to create a WM
solution for everyone. Their products also include
an ICO platform, a smart wallet, and various crypto
funds. The company is based in Lausanne.
• Regulated wealth
mgmt. platform incl.
Robo-advisor
• Crypto and token
funds
• ICO platform
• Founded by former
finance professionals
(banks & asset mgmt.)
• ~ 29 team members
• Reputable partnerships
(e.g. EY)
• Public Token Sale in
January 2018 ($50M)
• Token tradeable on four
exchanges
• Potential future
investment opportunities
in Swissborg token funds
One of Switzerland’s recent
lighthouse projects. Use case
with significant market
potential. High quality team
and advisors. Governance
structure through referendums
/ community involvement.
Funds &
Investments
Utility Token (CHSB)
EXCERPT 1)
1) This represents an excerpt of a full market screening research report across all categories. Client research would include assessment of all selected startups. Long & Short-list assessment criteria can be customized by client demand.
Security Token (CSB)
• Security linked token
to Swiss real estate
• Voting rights
(acquisition and
termination)
SwissRealCoin is a security token linked to a
portfolio of Swiss commercial real estate. The
company wants to revolutionize and automate real
estate asset management with a blockchain
software "MIA" (Management & Investment
Assistant). 80% of rental income will be reinvested.
• Tokenized
investment in Swiss
real estate
(liquidity)
• Automated real
estate asset mgmt.
• Founded by real estate
experts and tech
entrepreneurs
• ~ 11 team members
• Strong advisory team
(e.g. Thorsten Hens,
Christoph Caviezel)
• Public Security token
offering delayed until Q4
2018
• Reservation phase is live
Another leading project in
Switzerland to tokenize real
assets. Interesting token
structure for investors to get
exposure to Swiss real estate.
High quality team of founders
and reputable advisory team.
Security Token (SRC)
Tokenized
Assets
Funds &
Investments
Wealth
Management
• Token provides limited
voting and profit-
sharing rights
Alethena is the first Swiss ICO and blockchain-
asset rating agency. Alethena offers a rating
platform where they publish fully independent and
neutral ratings of blockchain projects. Their
methodology covers 4 dimensions: Technical
Business, Governance, Legal. Plans to scale
methodology with machine learning.
• Blockchain startups
that want a neutral
and trustworthy
rating
• Seal of quality for
investors
• Founded by former
management
consultants and
finance professionals
• ~ 8 team members
• Reputable advisory
team
• Public Token Sale in
June 2018. Soft cap of
$3M was not reached.
• Additional investment
through VC or private
placement still open
Young but high quality team,
with experienced and well
connected advisors. Overall
great project that is needed to
increase transparency in the
industry. MVP in place. Lacks
some market awareness.
Security Token (ATH)Data &
Information
Platform
• Token specific are not
available yet
The VALOR platform is a marketplace that directly
connects asset issuers and all kinds of investors
around the globe. The decentralized platform aims
to provide frictionless and secure access to
tokenized alternative investments. The company
in based in Zug, with other offices in Munich and
Paris.
• Marketplace for
initial listings &
trading of asset-
backed tokens
• Platform for
issuers, investors,
service providers
• Founded by Olga and
Oliver Feldmeier, two
prominent exponents
of the Swiss blockchain
ecosystem
• ~ 20 team members
• Registration for Pre-Sale
is open
• Working prototype of the
VALOR platform
available
Tokenized assets are
estimated to grow significantly
in next years, which positions
Smart Valor well in the market.
High visibility in media and
conferences. Lack of info
regarding funding process and
status of company.
TBDFunds &
Investments
Marketplace
Tokenized
Assets
• Annual dividend right
per TND
• Rights as holders of a
participation certificate
(ownership)
TEND is a platform with subscription access to co-
ownership of precious luxury assets. This
includes tokenized luxury assets such as cars, art,
or jewelry. The digital platform / app also offers
memorable real-life experiences. Alpha version
should’ve been ready by April 2018, but is not
accessible yet.
• Buy and sell
fractional
ownership of luxury
assets (tokens)
• Experiences
connected to these
assets via platform
• Experienced founder
with C-level experience
at large Swiss bank
• ~ 15 team members
• Public Token Sale in
February 2018 (($3-4M)
• Slowdown in news and
updates about
development process
after token sole
Interesting use case of
tokenizing luxury items.
Sufficient demand among
affluent millennials expected.
However, project lacks
transparency & some concerns
around progress. Watchlist.
Security Token (TND)Funds &
Investments
Tokenized
Assets
Copyright © 2018 BlockNovum. All rights reserved. 11
BUILDING BLOCKS FOR ENTERPRISE BLOCKCHAIN APPLICATIONSSHORT-LIST ASSESSMENT –PROXEUS (XES)
• Proxeus makes blockchain technology available for corporates - "WordPress for the Blockchain“.
• It enables both traditional and crypto-companies to digitize and run their processes (e.g. legal, financing, sales,
product, HR, payment) in a decentralized environment. This leads to speed gains and reduction in costs.
• The platform offers core components (form & document generator, workflow builder / manager, blockchain registry)
and modules (services such as data import, external storage, payment, monitoring, smart contracts) on top of a
blockchain (e.g. Ethereum).
• Proxeus charges a fee in XES for the middle layer (modules). The base layer (core tools) is free to use.
EXAMPLE
• The company was founded by Antoine Verdon and Patrick Allemann in 2016. Both founders show previous
experience as startup founders and are involved in the crypto space since 2012.
• Antoine shows a history of successful startup involvements. He was a board member at Centralway Ventures
(Today: Numbrs, a successful Swiss FinTech) and co-founded the Swiss LegalTech association.
• The team is rather young with an average of 4-5 years of work experience. The team has 10 developers.
• Proxeus has offices in Zug and Zurich, Switzerland.
• The company raised $25M in just two days via an ICO in February 2018. Winner of Swiss FinTech Awards 2018.
TEAM & COMPANY BACKGROUND
• Potential competitors of Proxeus include:
• ARK: They aim to create a platform that provides users, developers, and startups with innovative tools to
use blockchain technologies. The platform facilitates an ecosystem of linked blockchains and use-cases.
Market cap: $74M
• Arcblock: It is a platform and an ecosystem for building and deploying decentralized blockchain
applications. Arcblock wants to be compatible to existing systems and automate business processes.
Market cap: $14M
• AWS Blockchain Partners / Microsoft Blockchain Azure: Both tech giants offer a “blockchain as a
service” infrastructure for building end-to-end blockchain platforms, cost efficiently and at scale.
• Overall high potential project with an experienced team of founders. They gained already significant
market recognition through their highly successful ICO and through Winning the FinTech Awards.
• Big market opportunity since various blockchain-enabled use cases are interesting for corporates to save
costs and speed up processes. Blockchain is a priority topic among many big corporates and especially the financial
service sector is prioritizing further cost savings.
• If Proxeus’ beta platform manages to convince users and 1-2 prominent clients are won, adoption among corporates
is likely. Main risk stems from big tech companies that could make Proxeus obsolete, if it can’t differentiate itself.
• As a utility token without inherent reasons to hold it long-term, there are concerns if XES can capture value.
COMPETITORS
BUSINESS MODEL
Market:
• Traditional companies could soon be forced to transform their existing business processes and make documents
& applications compatible with the blockchain-powered decentralized Web 3.0.
• Similar to the shift to mobile devices or to the cloud in the past, corporations will face pressure to offer compatibility
with the blockchain space in order to harness the benefits of this new technology and to stay competitive.
• Proxeus is positioned to profit from this market opportunity, if there is a shift towards a fully-tokenized & network
based economy. Numerous companies (especially in financial services, logistics, & public services) count as potential
clients to use the Proxeus platform. Implementation partnerships with consulting companies are also a possibility.
Decentralization Edge:
• Proxeus’ goal to make the blockchain accessible to average users to enable blockchain-related use cases (e.g.
tokenization of collectibles, or algorithmic insurance based on shipping) has a clear value proposition.
• Since Proxeus is built solely on top of blockchains, it is self-evident that a utility token is used to facilitate the service.• Delays in Proxeus’ platform development and deployment due to technical difficulties
• Current technical limitations of blockchains regarding scale and speed can’t be solved in the next 1-2 years – loss
of momentum
• Lack of high-potential partnerships (e.g. implementation or selling partners) could lead to difficulties in market
adoption
• Threat of Amazon, Google, and Microsoft who are all working on, or have already a similar offering in place
RISKS
BLOCKNOVUM ASSESSMENT
MARKET OPPORTUNITY & DECENTRALIZATION EDGE
Rating:
8 / 10
• XES is Proxeus’ utility token. Its purpose is to facilitate smooth transactions in the ecosystem and to serve as a
means of exchange for the various platform use cases (e.g. pay for modules, reimburse creators of 3rd party dApps).
• A total supply of 300 million XES were created, thereof around 203.2 million are currently in circulation.
• The rest (~29%) are held in a reserve pool by Proxeus and might be gradually released in the future.
TOKEN & ISSUANCE MODEL
LayersPlatformTechnical:
Source: Proxeus.com
Copyright © 2018 BlockNovum. All rights reserved. 12
• In-depth research reports: 10-20 pages
• Valuations to quantify a token’s fundamental
intrinsic value (indication if a cryptoasset is
over-or undervalued)
• Qualitative assessments & due diligence of
cryptoassets and blockchain startups
• On-demand and customized to client’s need
• Pick of startups to investigate
further for a potential
investment
• One-pager per startup/crypto
incl. high-level assessment
• Selection of high potential
startups for an initial “long-list”
• High-level description of
selected investment
candidates
• Market screening according to
set criteria
• Overview of startups &
cryptoassets
IN-DEPTH INVESTMENT RESEARCH REPORTS AND VALUATIONS FURTHER RESEARCH & ASSESSMENTS
Subsequent to the Market Screenings and High-level Assessments, BlockNovum offers in-depth Due Diligence
Research Reports and Valuations of Cryptoassets & Blockchain startups.
Valuation & in-depth
Assessment
Long-list Investment Universe
Client
Investment
Criteria
Assessment Framework
Market Screening
• Geography
• Industry &
Category
• Investment Stage
(Pre-Sale, ICO,
Venture Capital)
• Other client
requests
Short-list
Copyright © 2018 BlockNovum. All rights reserved. 13
ABOUT BLOCKNOVUM & DISCLAIMER
About BlockNovum:
• BlockNovum is a Swiss Blockchain and Cryptoasset investment research & consulting firm. We provide professional assessments,
fundamental valuations, and research reports for the emerging asset class of cryptoassets & blockchain startups. This includes market
research and screenings of blockchain-related startups, such as in this report. In addition, BlockNovum positions its cryptoasset research
reports and services analog to established equity sell-side research providers. Our target clients include mainly institutional investors (VCs,
family offices, [Crypto]-funds) with an interest in allocating capital to cryptoassets or blockchain startups. Additionally, we also offer our
reports and consulting services to accredited investors, such as business angels.
• Mission: Founded in 2018, we are a young startup that wants to advance the quality of fundamental cryptoasset research to a professional
level to provide institutional investors with high quality market research, due diligence, and valuations.
• If you are interested in similar reports or customized consulting services, please contact us at [email protected]
Disclaimer
At the time of publication, the author has invested a small amount in the Alethena (ATH) ICO.
The information herein is based on sources that BlockNovum considers reliable, but its accuracy is not guaranteed. All statements made in this report are strictly beliefs and
points of view held by BlockNovum after conducting careful market research. Certain of the statements contained herein may be statements of future expectations and other
forward-looking statements that are based on BlockNovum’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those expressed or implied in such statements. Neither BlockNovum, nor any of its employees shall have any liability,
howsoever arising, for any error or incompleteness of fact or opinion in it or lack of care in its preparation or publication.
The information contained in this report are not a representation by the covered corporations / cryptoassets, nor is any recommendation made here based on any privileged
information. This information is not intended to be nor should it be relied upon as a complete record or analysis; neither is it an offer nor a solicitation of an offer to sell or buy
any security or cryptoasset mentioned herein. Nothing contained herein constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or
other decision. Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice
for their particular situation.
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