latest

ATONOMI ICO Review: Blockchain-based Security Ecosystem for IoT

Atonomi is an ecosystem that seeks to identify, verify, and monitor the activities of IoT devices. It will be built on the Ethereum blockchain, and it is expected to make it easier for IoT devices to interact without fear of phishing and hack attacks.

  • Rating: 4.34/5
  • ICO Grade: A-
  • ICO Platform: Ethereum
  • Industry: Internet of Things
  • Price: $0.05
  • Bonus: N/A
  • Soft Cap: N/A
  • Hard Cap: $25 million
  • Total Number of Tokens (Available for sale): 1 billion ATMI (500 million ATMI)
  • Website: Atonomi.io
  • White paper: Atonomi Whitepaper
  • Telegram: Telegram

Atonomi ICO Rating

The Problem

As innovative as the Internet of Things tech is, it is taking some time to catch on completely and reach critical mass; there is a big reason why this is so. People like the concept, but the downside as regards security is quite significant. Few people are willing to allow their devices have so much access to their day-to-day life because if the devices get hacked, it could have extensive and damning consequences.

As a result, for the IoT technology to become fully-viable, it needs protection. The industry needs a solution that will assure the security and reputation of devices on the network. This will not only ensure interoperability between trusted devices, it will also serve to assure users that hackers can’t break into their devices and take over their lives.

Proposed Solution (The Product)

Atonomi aims to provide the solution. The project wants to create an ecosystem that will facilitate secure interactions and commerce between devices on the IoT network, boosting interoperability and allowing the trillions of transactions the network needs to thrive. The ecosystem will consist of a protocol that verifies the identity of devices and ascertains whether they are safe or not. If safe, the device is registered on Atonomi’s immutable ledger, and it is ready to be activated.

Once a device is registered and activated, there’s another protocol in the Atonomi ecosystem that keeps track of the device’s activities (security, commercial trends, behavioural trends, social trends, services provided etc.) and manages its reputation.

A combination of the 2 protocols above will feature prominently in building a network of secure and fully-functional IoT devices.

The Team

Atonomi is being developed by CENTRI Technology, a notable name in IoT security. Therefore, a majority of the Atonomi leadership hold leadership positions at CENTRI. Founder and CEO Vaughan Emery is a business and cybersecurity expert with over 20 years’ experience. He is also the Founder and has been CEO of CENTRI for almost 8 years.

He is joined on the leadership team by Co-founder and VP of Product, David Fragale; CTO and VP of Engineering, Mike Mackey; Chief Data Scientist, Dr. Luis Paris, and Strategic Development Partner, Andrii Zamovsky.

The Market

There were approximately 8.4 billion IoT devices in the world in 2017, according to Gartner, with the article going on to say almost 5 million new devices are getting added to the network on a daily basis. With growth like this, it is not surprising to find that Statista estimates that the IoT market will be worth over $8 trillion by 2020.

In a market segment this big, if Atonomi delivers exactly what they say they will, there will surely be enough room in the market for the ecosystem and its token to grow significantly.

Roadmap

The Atonomi network was launched in December 2017, and in January 2018, they launched Swytch, a renewable energy incentive platform. Swytch was built on the Atonomi blockchain, and it will be the first program in the ecosystem.

As at the time of publication, there is no concrete information on token sale date or ecosystem launch/development.

SWOT Analysis

Strengths

  • The project is being developed by CENTRI, a veteran in the IoT industry.
  • They have a strong team, with well-experienced advisors.
  • The IoT is one of the fastest growing scenes in tech and it is far from being saturated.
  • Atonomi’s use case is extensive. It cuts across healthcare, industries, smart homes, smart cities, and there is an allowance for considerable expansion.

Weaknesses

  • No ICO date yet.
  • No detailed roadmap.

Opportunities

  • CENTRI already has partnership agreements with the biggest names in the IoT market: Microsoft, Arm, Flex, Intel, and many others.
  • There are few projects like Atonomi, this means reduced competition and ample time to establish their ecosystem before competing start-ups crop up en masse.

Threats

  • Atonomi cannot really function independently, and if it decides to, it will take many years before the ecosystem attains critical mass. As a result, the project needs device manufacturers and owners to sign up for its ecosystem. Before this happens, however, Atonomi needs to prove beyond doubt that it can deliver.

In conclusion, it is very hard to find something negative to say about Atonomi. They are backed by a company that has already accomplished quite a lot over the past years, the team has a healthy combination of expertise and experience, their use case is solid, and they are backed by VCs. The only drawbacks are: there is no token sale date yet, and their roadmap is a bit sketchy.
ATMI may be a smart investment in the coming months (or years), but as always, investors must be cautious and remain informed.


If you enjoyed this article, please share it and follow us to get notified when we publish new articles like this.

Disclaimer: The information contained herein is not intended to be a source of advice and the information and/or documents contained in this website do not constitute investment advice.

Next Read