Mirocana is going after a large market, but their tech is undefined, and their team doesn’t appear capable of competing with all the entrants in the AI trading and investing space.

Technology

Tech Quality

Mirocana sounds appealing: who doesn’t want artificial intelligence powering their investments/trades in stocks, currencies and cryptocurrencies? Unfortunately the tech is poorly described.

In essence, the system runs trading strategies through simulations to test their effectiveness, and then institutes the best performing strategies for customers. The whitepaper doesn’t describe clearly how the current strategies are generated, other than saying that the team creates them using a framework for graphical chart patterns. Future platforms to crowdsource strategies from traders and data scientists are each covered in a short paragraph. Likewise, the description of how the simulations are run is vague.

The strategies and simulations are the core pieces of the system, and the whitepaper should cover them in much greater depth, explaining the underlying technology, the challenges associated with their design, etc. Effective algorithmic trading strategies are hard to create and test, so these vague descriptions are a red flag for the Mirocana ICO.

Market size

Personal investment management is a large market. Mirocana is targeting ordinary joes as investors. They limit access to the different investment products (equities, currencies, crypto) via ownership of MIRO tokens, but enough tokens are being sold to give 40k individuals access to the crypto investment management.

Competition

This space is getting crowded. Enigma (36m market cap) and Cindicator (26m) are similar projects leveraging crowdsourced predictions to empower investments. They each just had successful ICOs (I made a little money flipping Cindicator tokens). Numerai is a private hedge fund powered by prediction models from data scientists who stake a public token. It’s pretty different focus for a project, but they appear to be executing intelligently.

Team

The core team is young and inexperienced. There are no advisors listed.

George Petrov, CEO: 1yr Python dev. experience for a Russian gaming company. Co founded SafetyFirst workspace security company; the site is down. A couple of 4 month stints as a python dev and a software engineer.

Evgeniy Ulyanov, COO: CMO of Domby for 2yrs; site is down. Head of Sales at Red Guard marketing agency for 15 mths; 11 employess on linked in. Graduated in ’14.

Vasiliy Boychuk, Data Scientist: Data Scientist at ITMO University for almost 2 years. Software dev for Motorola Solutions for less than a year. Masters in Comp Sci.

Scores

I didn’t speak about the token supply and demand, because it doesn’t matter. The technology and team are not worth investing in.

Technology 5/10
Team 5/10
Token Supply & Demand 3/10
Score                      45/100

 

 

2 Comments

    mahesh chaube

    should we invest or wait for other ico?

      Tommy Hall (Author)

      Wait for more promising ICOs. I give Mirocana a 45 out of a 100 score, and you want to invest in ICOs with 65+ scores. Check out our ICO Calendar for better projects.

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