Even before cryptocurrencies - online traders, businesses, and alike had been targeted by hackers. After the crypto trend hit, hacking attacks on the financial industry intensified and surged massively, alongside scams, and other forms of robbing people out of their money.
Of course, people already had wallets for securing and managing their coins, but there never seemed to be a secure enough way for coin holders to truly feel safe. In time, digital assets diversified and grew in number, as did the number of investors, traders, and other participants in the crypto industry.
Despite this, the threat of fraud, scam, and direct hacking attacks remains, and people are in need of a secure way to keep their activities safe, which is where projects like Zonafide enter the picture.
Zonafide is a digital wallet leveraging blockchain and collaboration technologies. Its goal is to ensure that any person's activities are safe from harm, and protected from online criminals. An Activity can include pretty much anything, from a house purchase payment to updating banking details or even enabling access to a certain property.
All of them will be secure in Zonafide's wallet simply by empowering people to use their social and professional network to verify themselves. This, of course, comes in combination with all the security features that blockchain technology itself has to offer.
The project already has the beta version of Zonafide wallet, which is available in Apple's App Store, as well as in Google Play Store for Android users. In addition, Zonafide already developed a route to market, which is ready to become operational. In addition to that, the project already has its first use case with the UK Local Governments, that plan to respond to Zonafide's public use.
It is expected that the first use will create initial demand, as well as a proving ground, from which other application economies will be able to develop through the use of Zonafide's wallet. Naturally, Zonafide will need one more piece of the puzzle to make it all work, and that is its own native token.
Zonafide has already announced its ICO, although it did not specify the time when it will be held. Even so, there are several details that are known in regards to its token, as well as the pending token sale. For example, the token will be known as TOG, and it will be a utility, developed on Ethereum's platform.
The project will only accept ETH coins in exchange for TOG, which will be priced at $0.25 per 1 TOG. The minimum investment will be $250, although the project hopes to reach the soft cap of $2 million, and a hard cap of $25 million.
The project is registered in the United Kingdom, and it will have several restricted areas, including Taiwan, the United States, Canada, Korea, and China. So far, however, there are no Whitelist/KYC requirements, meaning that everyone else will be capable of joining without restriction.
|Start||July 1, 2019|
|End||September 30, 2019|
I call the projects like Zonafide the Garage ICOs. I would also like to ask them, "Where's the team, guys?" Only two people listed as team members - that looks like a home office operated from the basement. I went on LinkedIn to check the profile of Paul Worrall, the founder of this tightly knit project and stumbled upon his article called "From the known to the unknown." It looks as if it had been written when Paul was high as a kite, so it becomes clear what they are doing at that home office.
I have checked the profile of Salena Worral, one of Zonafide's founders, and it turns out that they have been working on this project for five years. And after all these years they couldn't even come up with an MVP of that wallet. Paul Worral has an in-depth knowledge of blockchain - I have watched some of his lectures and interviews - but it is evident that he is a better theorist than an executioner of his own ideas.
The mission statement of Zonafide is way too ambitious for a team of two people. I don’t know if they are being arrogant or count on a lack of judgement of potential investors, because I don’t see how their solution will help secure the vital data against the modern overly sophisticated hackers. Governments and huge corporations are trying to withstand the barrage of cyberattacks, oftentimes to no avail. But people from Zonafide are trying to convince someone that they have found the ultimate solution. Sorry, I am just not buying into that.
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