6.8
Score

Pros

  • holistic consideration/optimization/automation of the SC
  • strong partnerships (a.o. Winjit, Willson International, member of the Blockchain in Transport Alliance)
  • capable team
  • very large market
  • sensible application of Blockchain technology

Cons

  • Undertaking may be too comprehensive/ambitious
  • repetitive sentences/phrases on website & WP
  • Whitepaper contains a lot of marketing buzzwords
  • miscalculation in the transaction fee diagram
  • Security Token
Product
6,8
Team
7,4
Business Model
8,4
Use of Blockchain
7,6
Token Sale
7,6
Token
3
Whitepaper
7,2

Final Verdict

Website
Whitepaper
Telegram

Symbol: MORPH
Hardcap: $36M
Max Token Supply: 100 Mil.
Presale: 23. Februar 2018

Update 14.03.2018: Adjusted the end date of the presale to March 17th. Extra 12% bonus period extended to March 17th.
The main sale will be 30 days starting 5 days later on March 22nd
Main sale from March 22nd to April 22nd. One of the probably most ancient occupations is bartering or trading. In the past, locally found resources were used, processed and traded with neighbors and neighboring towns. Nowadays resources need to be imported, products assembled, shipped and sold in stores. All of this no longer happens in just one location in just one country. Behind every trade and product now stands the supply chain. This distribution of processes over the whole world John Naisbitt described in 1982 using the example of the automotive industry. The term globalization was termed in that regard and now popular. The impetus of globalization was colonialism and later the fall of the Iron Curtain as well as the immense technological progress. Even if modern technology enables as well as eases global trade there are still many obstacles and a lot of room for improvement. The startup Morpheus.Network feel they are up to the task. Specifically, they plan to automate the supply chain(SC) and therefore make it more efficient as well as more cost-efficient. CryptoGo had a closer look at the project.

 

Problem:

  1. Many nations are involved in the SC.
    The companies have to work with diverse currencies, i.e. they are at the mercy of currency fluctuations.
  2. The transfer of currencies between different countries takes a lot of time.
    Many different laws and import regulations need to be observed.
    There aren’t trade treaties with all countries, custom duties apply.
  3. Delivery documents often need to be on hand in the original.
    Data protection needs to be guaranteed, loss of data avoided.
    Forgery or retroactive change of documents must be prevented.
    The transport and protection of delivery documents are very elaborate, time intensive and expensive.
  4. Not every partner is trustworthy.
  5. Transparency
    Blind spots in the SC hamper tracking and reduce transparency.

 

Solution:

  1. Introduction of a hybrid blockchain and the MORPH token
    No currency fluctuations
    Instant execution of transactions
    Laws, fees, tools and the like are researched beforehand by experts and added to the Smart Contract.
  2. Storage of original documents off chain.
    Digitialization and maintenance with storj.io
    Documents that are once in the blockchain cannot be changed without notice.
  3. Network offers an escrow service.
  4. The mapping of the SC on the blockchain makes every step of the process transparent and traceable.

 

 

Team:

The website already introduces a fairly extensive team and a large pool of advisors. The founders and staff members have encouraging experience in their respective areas and the distribution  of staff members to required positions/tasks looks well-made.

Danny Weinberger, Co-Founder and CEO
Danny worked for a machine distribution and logistics company for 15 years. There he was able to build his expertise for transnational transport as well as a large network of partners and customers. Both are excellent conditions to lead a project like Morpheus.Network to success.

Noam Eppel, Co-Founder and COO
Noam studied information security and then consulted for international corporations for a long time. Moreover he taught web development and information security at a college in Toronto and developed an online class along with it, which is used by companies far beyond the borders of America. If you believe the statements on the website he contributed to projects like myetherwallet, ethereum.org and wordpress. How exactly and to what extent is unclear.

Furthermore the team consists of 4 blockchain developers, 6 marketing specialists, 3 legal consultans and one crypto kitty. All staff members can boast useful references and even awards in their areas. However, on the developers LinkedIn-profiles you don’t find Morpheus.Network but Winjit as their employer. But Winjit is a partner of Morpheus. Now if those developers have been deployed for that project or were on board with enthusiasm from the start and will stay on is uncertain.

The advisor-team also consists of some top-class people. The first person listed is Roger Crook. Crook was CEO of DHL but had to step down. Currently Crook advises a lot of blockchain-projects. Now if that speaks to his expertise and is good the startups or only serves to fill up his bank account we can’t say.

Further advisors are from relevant sectors (Banking, Logistics, Tax, Global Trade etc.). The selection of advisors seems to be well thougth out and turned out well.

So the token sale was acquired with Brian Taylor of Deloitte LLP.

 

Product

Goal is a network of payment service providers, banks, suppliers, manufacturers and customers. The base for this is a hybrid blockchain based on Ethereum, so a combination of private and public blockchain. If they developed the private blockchain themselves or used an existing solution, we don’t know.

Then, on this blockchain payments are to be made, documents transferred and stocks of inventory reported, among other things.
With the MORPH tokens you pay the transaction fees.  If you want to, you can generally use MORPH for all payments, otherwise othe currencies like i.e. Dash or Ripple are available. These guarantee a fast transfer and avoid fees for foreign transfers and currency exchanges.

Transaction time:

 

Transaction fees/remaining amount:

 

The observant investor notices that after deductions of 1,5% fees $98,50 should be left over. Were the amount of $98,80 comes from remains questionable.
Both diagrams can also be found on monetha.io but with correct data there.

Through integration of the SWIFT system they are compatible with more than 1600 banks in 213 countries and all currencies. Morpheus.Network also offers an escrow service. With it they want to remove the problem of trust and guarantee their safety and their money to all participants.

Through integration of storj.io the necessary documents are digitalized, saved and transferred. This avoids the, until now, high transport fees and security measures for the transmission of the important original documents.

Also, by means of smart contracts, sales, deliveries and changes of inventory etc are mapped on the blockchain and transmitted to all relevant partners and, if desired, directly paid with MORPH tokens . Diese Automation der Supply Chain soll viel Zeit und Kommunikationsaufwand ersparen und verhindern, dass es zu Lieferengpässen oder ähnlichem aufgrund falscher oder zu später Bestellungen kommt This automation of the supply chain is supposed to save a lot time and communication hassle as well as prevent supply shortages, or similar issues, due to wrong or too late purchase orders.

Additionally, any and all logistics know-how is integrated so that it’s easy to get to know legal regulations and adhere to them and to calculate customs duties.

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Token

The token is mostly supposed to be used by participants of the network, specifically as payment.

1,5% of every payment is deducted by Morpheus.Network as a fee. So far this is also the only source of income (besides the ICO) we were able to find.

Every 3 months 33% of the received tokens is refunded to the MORPH token holders. This is regulated via a smart contract. A DApp reminds the token holders and checks if the deposited Wallet really contains MORPH and then issues their dues to the token holders dependent on the amount of already held MORPH.

This refunding is equivalent to a dividend and further features of a security token are also fulfilled here. This will make it more difficult for Morpheus.Network to list the MORPH token on large exchanges.

All tokens that are not sold in the token sale will be destroyed afterwards. No new MORPH will be created at a later time, either. Only through the trimonthly refunded tokens “new” ones will come into circulation.

 

Token Sale

Here are the hard facts from the website:

Presale Start: 23.02.2018, 12:00 PM EST
Presale Ende: 17.03.2018, 12:00 PM EST
Token Preis: $0,50 = 1,12 MORPH (12% Bonus)
Mininum Contribution: $10 (or 20 MORPH)
Maximum Contribution in the first 24h: $500.000 (or 1.000.000 MORPH)
Maximum Contribution after the first 24h: $1.500.000 pro 24h

Soft Cap Min Distribution: 21,95 million MORPH token ($1.800.000)
Hard Cap Max Distribution: 100 million MORPH token ($36.000.000)

Main Sale: 22.03.2018-22.04-2018

If the soft cap, so 1.8 million USD, is not reached the investors will have their contributions refunded.

The whitelist is already open and if you are on it you will get a 6 hour headstart for the presale before it goes public. Moreover investors in the first 6 hours receive 2% extra, for a total bonus of 14% ($0,50 = 1,14 MORPH).

Besides the whitelist a statement of residence is necessary. Investors from the following countries are barred: North Korea, Syria, Iran, Sudan, Bangladesh, Bolivia, Kyrgyzstan, Canada, USA and China. Further infos about the KYC are yet to be published.

The MORPH token is an ERC20 token and therefore ETH is the investmentmedium of choice. However Morpheus.Network has integrated shapeshift.io so that several other crypto currencies are possible(i.e.: BTC, XRP, EOS, DASH, NEO, LTC).

The MORPH tokens will be received 28 days after the end of the token sale.

Token Sale - Soft Cap

  • Investors
  • Team
  • Advisory
  • Partners

Soft Cap Allocation:

3.600.000 MORPH tokens to token sale investors (1,8 million USD – token unlocked)
12.000.000 MORPH tokens for the team (tokens locked for 18 months)
3.000.000 MORPH tokens for the advisory team (tokens locked for 6 months)
3.350.000 MORPH tokens for strategically important partners (tokens locked for 6 months)

Token Sale - Hardcap

  • Investors
  • Bounty Program and Bonus
  • Team
  • Advisory
  • Partners

Hard Cap Allocation:

72.000.000 MORPH tokens for token sale investors (36 million USD – token unlocked)
9.650.000 MORPH tokens for bounty program and bonus(token unlocked)
12.000.000 MORPH tokens for the team (tokens locked for 18 months)
3.000.000 MORPH tokens for the advisory team (tokens locked for 6 months)
3.350.000 MORPH tokens for strategically important partners (tokens locked for 6 months)

Roadmap

Currently extensive tests of the MVP and constant advancements are taking place under the direction of advisor Donnar Stoppard of the bank TD Canada Trust.

  • 02/18 token presale
  • 03/18 token sale and token distribution
  • 04/18 extension of the team, expansion
  • 05/18 finish negotiations about listings with large exchanges (Binance, Kucoin, HitBTC, Bittrex, EtherDelta)
  • 07/18 test of the network for/with documents
  • 09/18 simulation of realworld transactions on a testing network
  • 12/18 limited platform start for early adopters
  • Global Launch

Conclusion

The current supply chain offers a lot optimization potential and a lot of possibilities for startups to have a try at them. The concept of Morpheus.Network is well thought out. Other projects in this sector only apply themselves to parts of what Morpheus.Network wants to achieve. We love this entire big solution even if it may be very challenging, maybe even too challenging. However Morpheus.Network was already able to gain a lot of expertise and strong partners. For example they are also members of the Blockchain in Transport Alliance (BITA). The network is even designed in such a way that only single links in the supply chain can participate even if their partner or supplier is not part of the network.

The whole project is very extensive and certainly not all aspects can be listed and elaborated on her. We noticed that to some extent the graphics used are very similar to those of the competition. Also, a lot of phrases are repeated several times on the website. However a glimpse into the considerable whitepaper explains much. But the total package we find to be rather harmonious although we don’t believe in flipping investment but rather that this is a project for longterm holders.

Should you have further questions, find mistakes within the review or just want to discuss the newest developments in the cryptoworld with the CryptoGo-Team, visit us in the CryptoGo  Telegram-Channel  or subscribe to our newsletter.

Disclaimer:CryptoGo has the aspiration to transparently and independently evaluate new ICOs. In doing so we create the articles to the best of our knowledge and belief. But in no way do we want to issue investment advice. Every investor should extensively investigate the presented ICOs  and analyze and asses them to their own standards. 

Twitter

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