ICOrating

SAIFU Basic Review (https://ico.saifu.ai/)

ICO dates (15.01.2018 - 11.03.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project details

Name: Saifu

Ticker symbol: SFU Token

Project type: Platform/Banking

Extended company description: Saifu is a platform for buying, storing and using

cryptocurrency.

Company: PAYMASTER a.s.

Website

White paper

ICO details

Public ICO start date: 15.01.2018

Public ICO end date: 11.03.2018

Token Sale duration (weeks): 7.85

Token type: ERC20

Token emission: 200,000,000

Tokens available (Pre-Sale + Public ICO): 130,000,000

Investment goal:

• Scale-up: Marketing and Business Development

• Operational Development including:

o Technologies and infrastructure

o Personnel

o Licenses and Compliance

Price of 1 Saifu Token: 0.0001 BTC

Accepted payment: wire transfer for USD and cryptocurrencies: BTC, ETH, BCH,

LTC, DOGE.

Bounty

Token role: Functional

Team

Team (number of people): 20

Advisors and partners (number of people): N/A

GitHub: N/A

Social media

Twitter: Postings: 7, Subscribers: 29

Telegram: Subscribers: 974

Facebook: Subscribers: 125

Project information

Saifu is a licensed payment institution. It enables customers to open IBAN accounts

for either crypto or fiat currencies. Saifu facilitates buying, selling, storing and using

crypto and fiat with a high level of security.

Saifu offers the following services:

• Buying/selling cryptocurrency

• Storage

• Currency exchange

• Transfers

• Topping up a Saifu account with a Visa or Mastercard from any bank.

• Salary payments

• IBAN accounts (International bank account number)

• Personal debit cards

• Payments and transfers in fiat currencies

Advisors: N/A

Partners:

Canopus - Partner in the field of automation of small and medium-sized banks,

corporate treasuries, electronic payment systems, payment institutions, exchange of

electronic currencies and money transfer system.

M&A PR studio - PR partner.

UX Design Agency - UI/UX design partner.

ICO Box - ICO partner.

Overpriced Design - Brand building partner.

Thales - Security partner.

Advapay - Partner in the field of payments.

The flow (N/A)

Attracted investments:

• $1.7m (according to the team).

Summary

The Saifu project features experienced professionals in the fields of finance and

cybersecurity.

Strengths of the project:

• The market for the project is developing dynamically.

• The project has already attracted $1.7 million.

• According to the roadmap, an MVP is ready.

Weaknesses of the project:

• Highly competitive environment in the selected market segment (however, the

project claims that they have only 2-3 direct competitors in the entire

segment).

• The project is not well-known (although the project claims that they have a list

of customers).

• Overwhelming number of team members are involved in other projects.

Market and Industry

According to blockchain.info data, the current volume for crypto transactions is about

$3.6 billion per day. However, during the last month this has decreased due to a

drop in demand for Bitcoin.

At the same time, the capitalization of cryptocurrency is $573 billion (as at January

22, 2018).

Juniper Research also predicts that digital payments will exceed $5 trillion by 2020.

[https://blockchain.info/charts/n-transactions?timespan=30days],

[https://coinmarketcap.com/],

[https://www.juniperresearch.com/researchstore/fintech-payments/strategies-for-

payment-providers/opportunities-risks-competition]

Comments: The payment market is developing dynamically, which indicates an

opportunity to occupy this market niche is present.

Competitors

Bankera – A blockchain platform which enables making payments and transfers in

fiat and cryptocurrencies, and has the functions of a commercial bank.

Crypterium – A crypto bank with contactless payments available to all customers.

Monaize - A blockchain-based electronic banking platform intended for freelancers,

small and medium businesses.

Summary: Saifu’s differences from competitors include its possession of a small

payment institution license from the Czech National Bank and compliance with

European standards. Saifu offers a very secure way of storing cryptocurrencies via

its partnership with Thales Security - a leader in banking security. None of the

competitors currently have such licenses.

The project specializes more as a financial service; most platforms position

themselves as banks.

Engineering features of the platform

The core of the system is an electronic money and payment platform.

The platform conforms to the following standards:

• EU E-Money Directive - 2009/110 / EC;

• EU Payment Services Directive - 2007/64 / EC;

• IFRS standards.

Saifu have developed the security of their platform, and use Thales technologies to

provide arguably the most secure method on the market for storing cryptocurrencies.

https://www.thalesesecurity.com/about-us/newsroom/news-releases/thales-helps-

saifu-bring-bank-grade-security-to-the-cryptocurrency-world

https://www.thalesesecurity.com/resources/case-studies/making-it-easy-saifu-

removes-complexity-to-provide-safety-and-convenience-for-cryptocurrency-users

In the interests of protection, there are two types of bank account available:

• Customer account - used to store customers’ funds

• Operating account - used for operating funds and payments.

More details of security measures are provided in the white paper.

Online banking and mobile bank user Interfaces have been developed to provide

customers with a familiar and intuitive experience, so they can use cryptocurrencies

immediately without having to learn to operate unfamiliar technology.

Technical description

The platform is aimed at ordinary users and businesses.

Saifu has the following facilities:

• Account creation.

• For users: The ability to store traditional money and cryptocurrency, the

ability to exchange, convert, and bind existing cards, issue of Saifu cards.

• For business: The storage, exchange and transfer of currencies; payment

of salaries to employees.

Comments: According to the team, Saifu is already functioning and has clients (in

limited beta testing).

A mobile bank has been developed.

The project has a license from the National Bank of the Czech Republic (CNB).

Technical roadmap

In the future with the development of the technology and data it is planned to

implement the following features:

At the development stage:

• For companies:

o setting up services that help companies store and use both crypto and

traditional currencies for their business operations.

o creation of payroll programs for enterprises both in crypto and

traditional currencies.

o issuing Saifu debit cards associated with Saifu business accounts.

• For individuals/consumers:

o creation of a new platform.

o enabling mobile payments, including:

▪ Apple Pay

▪ Android Pay

▪ Samsung Pay

o issuing Saifu debit cards associated with Saifu customer accounts.

• For general operations:

o Further development of a trading robot: use of artificial intelligence (AI)

and big data.

After the ICO:

• For banks:

o Creation of an interbank platform for clearing operations with crypto

currency as a service for banks.

• For consumers and enterprises:

o Introduction of deposit accounts.

• For general operations:

o Implementation of open API.

Comments: According to the team, the platform is ready and is being tested. The

official version will be released in Q1 2018. The code is not disclosed for privacy

reasons. [https://saifu.ai/coming-soon.html]

Documentation

We have analyzed the Saifu website and documentation for sufficiency and

consistency for making an investment decision.

Information about the project is contained in the white paper, terms of service,

privacy policy, presentation and token sale terms document in English. In the white

paper, the project is described in sufficient detail. The main emphasis is on how the

platform will operate.

The website also provides information about the project, frequently asked questions,

benefits for individual and business users, and about the team. The website is

presented in English. The website features a question and answer column.

Summary: The documentation enables forming a comprehensive view of the

project. Platform functions are described in sufficient detail.

ICO

Tokens issued for sale %: 65

Public ICO start date: January 15, 2018

Token type: ERC20

Accepted payment: wire transfer and any of the following currencies: USD, EUR,

BTC, ETH and other

Price of 1 Saifu Token: 0.0001 BTC

Crowdsale duration: 7 weeks, until March 11, 2018

Saifu tokens are used to pay all transaction fees on the website and the Saifu

application.

Token limitation: 200,000,000

Advantages for token holders: the tokens are functional, which allows users to

either sell them or use them for accessing the platform’s services.

The purchase and holding of tokens also enables receiving large discounts through

the Saifu reward system.

Dividends: No

Additional token emission: N/A

Escrow: N/A

Max goal: $ 49,000,000

Min goal: $ 10,000,000

Bonus:

Token and capital distribution

Tokens and capital are distributed according to the following scheme:

Summary: Tokens do not affect the distribution of shares in the company. The

incentive system is built in such way that it is more profitable to buy tokens earlier.

Development plans

The roadmap

Summary: According to the development plans, the team will focus on obtaining

licenses and the technical development of the platform. Unfortunately, there is no

information about scaling or marketing strategy, and the plans are not tied to time

intervals.

Team

The management team consists of 5 people. Information about the main team

members based on LinkedIn is given below:

Alexander Legoshin (Linkedin) - Chairman of the Supervisory Board, Co-founder.

Member of the Advisory Board at Rīgas Gāze A.S., PAYMASTER A.S., Managing

Partner at Metropolitan International Group, previously: owner of ADVERTIS RUS.

Evgeny Vigovsky (Linkedin) – COO and CTO, Co-Founder. Head of Kaspersky

DDoS Protection; has been working at Kaspersky for about 10.5 years.

Zach Murray (Linkedin) - Head of Communications. CEO and Co-founder of Bonehill

Capital, previously specialist in the sale of institutional shares at Finam.

The team has 2 people in addition to the above.

Summary: Only the co-founders indicated their affiliation with Saifu (+2 mentioned

below state their affiliation with Paymaster A.S., the Saifu legal entity). The team also

includes the following specialists:

+Head of Back office - Linkedin

+Head of Legal - Linkedin

Marketing

Information about the project is available via popular services such as Twitter,

Telegram, Reddit, Facebook and BitcoinTalk. The project has a bounty program.

The team is active on social media, and project news is regularly updated on Twitter

and Facebook.

The format of articles available on the project shows that they were written mainly to

order.

Comments: Interest in the project is gradually growing. The marketing campaign is

being developed mainly on Facebook and Twitter. However, we note that most of the

traffic is currently obtained via ad clicks.

Traffic analysis of the Saifu website based on Similarweb.com data showed the

following: Similarweb

Comments: direct link: 35.67%, referrals: 0%, search: 13.51%, social media:

19.78%, mail: 0%, display: 31.03%

Search traffic: 13.51%, 11.78% of which is "organic"

Referral links: 0

Analysis of activity on the Saifu website based on BE1.ru data showed that:

Traffic sources: [https://be1.ru/stat/ico.saifu.ai]

Top 5 countries for visitors are: Russia - 51.08%, Netherlands - 11.63%, Spain -

6.98 %%, Poland - 5.76%, Slovenia - 3.36%

Traffic analysis of the Saifu website based on analysis data showed the following:

Traffic sources: [https://a.pr-cy.ru/ico.saifu.ai/]

Activity: views: 23,880, visitors: 5966

Summary: Based on available data, it appears that users have just started to show

interest in the project. The team is conducting an advertising campaign via Twitter

and Facebook, and communicates with interested users on Telegram. There are

published articles available. Over the past month, website traffic has increased by

30,000 people.

Contacts

The developers may be contacted using the links below:

Website

Twitter

Telegram

Reddit

Facebook

BitcoinTalk

The information contained in the document is for informational purposes only. The views

expressed in this document are solely personal stance of the ICOrating Team, based on

data from open access and information that developers provided to the team through Skype,

email or other means of communication.

Our goal is to increase the transparency and reliability of the young ICO market and to

minimize the risk of fraud.

We appreciate feedback with constructive comments, suggestions and ideas on how to

make the analysis more comprehensive and informative.