Bitenny - ICO Review

Bitenny: AI-Driven Asset Management & Payment Tool

Bitenny is a payment platform designed by a group of information technology specialists from the Netherlands with the purpose of laying the foundation for the future symbiosis of cryptocurrencies and conventional fiat currencies, and providing users with a comprehensible tool for financial asset management, driven by artificial intelligence.

The project intends to offer both failsafe and efficient instrument for expanding and improving investment portfolios, as well as high-performance payment and trading protocols to heed the needs of businesses.

In order to fund the further development of the platform, Bitteny organizes a sale of BTNY, the ERC-20 compliant utility token, the prime engine of the entire network that can be used as a payment vehicle, a trading currency, or as the means of obtaining access to certain platform features.

Bitenny functional characteristics

Bitenny is a meeting point for traditional financial institutions, cryptocurrency holders, exchanges, and payment service providers. The platform’s backend is comprised of a blockchain layer, with the Ethereum blockchain as its foundation, the exchange layer, and a stack of AI algorithms.

Speaking of AI, it comes as a driving force behind the Prally Interactive Assistant, the financial asset management tool designed to help investors to make well-considered and informed financial decisions. Prally is comprised of three digital agents: PayAgent, TradeAgent, and RiskAgent, which collect relevant information, analyze it and present to the user, who then makes a final move.

Apart from that, Bitenny provides means for recurrent digital payments, fraud-free crypto trading, retail purchases, issuance of supplier contracts, and hassle-free investment making.          

Team members

Shandad Kiyani. The founder and CEO. A leader and innovator who takes a specific interest in digital entrepreneurship and development of fintech products.

Mahdad Kiyani. The co-founder and CCO. A software engineer with more than 16 years under his belt, Mahdad is an expert in dApp development, cybersecurity, and system architecture.

Social media presence

The presence of Bitenny on all major social media platforms can be characterized as weak. The project is active mostly on Twitter, where it has 415 followers, while their Facebook page is being followed only by 1049 people. Despite that relative unpopularity, or a lack of marketing effort, Bitenny creates relevant content on a regular basis. 

ICO details

There are two ways for acquiring BTNY tokens, which is to fill out the application form on the official website to get whitelisted, and then pass the KYC procedure, or to participate in the exchange offering conducted through the Latoken Launchpad.

Bitteny has set itself a minimum financial goal of $3 million while the hardcap was established at $25 million. The project allocated 1 billion BTNY tokens for sale, though all token that will not be distributed over the course of the crowd sale will be burned.

The price of 1 BTNY is $0.07, with the minimum required investment being not particularly steep - only 0.3 ETH. It should be mentioned in this regard that Bitenny accepts only Ethereum. The list of the restricted area is quite extensive and includes Cuba, Venezuela, USA, Ethiopia, Kenya, Sao Tomé en Principe, Iran, Iraq, Serbia, Afghanistan, Cambodia, Tunisia, People's Republic of Korea, Yemen, and Trinidad and Tobago.  

Author: Alex Paulson for

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StartJuly 8, 2019
EndAugust 17, 2019

I actually met Mahdad back in 2017 at Meespierson in Amsterdam and from technical point of view he is a capable guy, but I don’t know the rest of the team.

James   June 16, 2020  

What the ICO craze did to many promising - and not so promising projects - is that the greed behind it forced them to roll out the ideas and products far too prematurely, in hopes of attracting as much money as possible, and then just chill out. Bitteny is a shining example of this kind of projects. It might have an interesting idea, but everything is prepared and presented so negligently that turns a potential investor off completely. My advice to Bitenny and all others, please, devote more efforts to refining your final business offer. Remember the rule of 5 Ps: Proper Preparation Prevents P*ss Poor Performance.

Edgar   August 2, 2019  

The fact that Bitteny doesn’t have their code published on GitHub or any other platform raised the initial suspicion. I can’t really understand how their product should work, and the vague explanation provided in the whitepaper wouldn’t suffice. Moreover, I see that the founders of Bitenny, the Kiyani brothers, have little experience in the blockchain development, same as the rest of the team. The list of advisors is also not particularly extensive and impressive. And the number of spelling mistakes on their homepage was the final drop for me. How could they launch a serious startup without even doing as small a thing as proofreading the content on the official website?

Alison   July 16, 2019  

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