ICO Review: Orvium – Reinventing the scientific publishing
Orvium is the first decentralized open source platform for creating and managing scientific researches and publications. Their aim is to tackle the ineffective and highly monopolized scholarly publications’ market by offering a unique, transparent and more effective model.
Project name: Orvium
Token symbol: ORV
White paper: Orvium Whitepaper
Hard cap: $25 million for 60% of the total token supply
Conversion rate: 1 ORV = $0.10
Maximum market cap at ICO on a fully diluted basis: around $37.9 million
Basically, they will be the first blockchain-based academic publisher within the massive €59.328 billion academic publishing industry. This industry is composed of a handful of publishers and the top 5 of them account for around 70% of the worlds’ scientific publications. On top of that, while they publish the works for free, they are charging universities and other interested parties with massive fees, making billions on the way. Furthermore, the industry is based on an unfair environment, in which most of the profits go directly to the publishers instead of the actual contributors because it is the publishers who own all the copyrights. Often times, the publication and review process is long, unintelligible and in many cases biased.
I think that if the Orvium project succeeds and take even 1-2% of the global publishing market, it will become one of the biggest coins within the crypto market.
The blockchain-based Orvium solution will work the following way:
Orvium suggests a model in which everything will be transparent, trackable and independent through the use of time-stamped proof-of-existence (POE). This guarantees the authorship of every scientific content published on the platform and also eliminates all copy-right concerns. The public blockchain will trace all activities on the platform such as submissions, peer-reviews, submissions, copyright changes, readings etc.
The platform will offer many features which will enhance the publishing process and eliminate costs, such as multiple version editing, peer-review initiatives, zero cost publications and many other. Yet, the most unique feature will be the Decentralized Autonomous Journals (DAJ) proposition. This will enable the creation of community-driven journals in which every individual or institution will be able to set their own journal with unique governing rules, subscription model, and contribution rights. In simple words, Orvium goal is to create a mini-scientific version of Reddit in which will be controlled by the blockchain and all participant will have equal rights. They believe this will enhance the scientific participation and will democratize the concept of the scientific journals.
Overall, a real use case proposal with really promising and innovative suggestions, which if implemented will transform the whole industry.
The ORV token will act as an engine for the platform and will be used for a variety of things. For example, every publisher will be able to choose a licensing and copyright model and eventually be paid with ORV tokens. In addition, they will be able to stake more ORV tokens in order to incentivize other people to make reviews of their work. Meanwhile, the community will be able to create science patronage, in which people can stake ORV tokens and challenge the scientific community to solve a specific problem in return for a reward.
Here is a summary of the many ways people and institutions can use the ORV tokens:
The stacking options will lead to many locked tokens while the supply of the ORV is limited to 379 million tokens, so if they succeed in creating a widely used platform, the token will be emphasized by scarcity and high demand, which in the crypto world is known as MOON.
Team and advisors
This is where the Orvium project shines. Their team is full of scientific geeks involved with CERN (the big particle collider we all heard of), NASA (no need to explain) and Fermilab (one of the biggest laboratories of the US Department of Energy). On top of that, they have really strong advisors and business strategist to guide them.
A very impressive mix of scientists, tech geeks, professors, business strategist and blockchain experts pretty much all you would expect from a team that can deliver results. Here you can take a quick view of their faces:
For more information about their team, you can check the Orvium telegram posts specifically aimed at introducing their A-star team: HERE.
Perfectly planned and illustrated roadmap, with a lot of details, updates, timelines and stuff. They plan to expand the features of the platform on different stages, while one feature will be tested simultaneously another will be implemented on the mainnet. Despite the really impresive organizational roadmap, the actual public realese of the platform is planned for Q4 2019, which in crypto time is like a whole century. A short version of their roadmap:
For more information, you can check their whitepaper.
Conclusion and verdict
Orvium is a really innovative and ambitious project, which aims at a massive niche market. The publishing industry faces a lot of problems and unfairness and people who are involved with researches definitely need the proposed platform. Their team seems like they put a lot of thinking and planning before announcing the project and everything is really well shaped and reasonable. Their documentation is extensive and detailed, which is a good sign for any ICO. In addition, the Orvium value proposition is really strong and almost too good to be true (like most of the ICO projects), yet their team really shines and is definitely capable of pulling it off. The future token price will be directly linked with the success of the platform, which will very much depend on whether the scientific community accepts and adopts the platform.
On the other hand, the public release date with full functionality is scheduled for a really long time from now and it is still unknown if they will be able to meet all their deadlines. On top of that, the research industry tends to be highly associated with institutions and we all know their opinion when it comes to crypto-related products.
All in all, the project is really promising and if successful will guarantee profits for its supporters for the long-term (end of 2019).
This is not an investment advice folks – do your own research before investing.