Mindlink is developing an online educational platform where users can both create and attend virtual classes. The company is also releasing its own cryptocurrency, which will be required to use the platform.
While the company's whitepaper touches on some very interesting points about the state of education, and proposes ambitious solutions, it is light on technical details or even concise descriptions of its product.
About MindLink ML
Mindlink is being developed by a small team; the company has five employees and one advisor. The team is relatively young, but highly educated. It is also quite geographically diverse; the project's founder and head of public relations are both based in Stockholm, while its lead developer and advisor are from China, and its head of marketing is from Madrid. The company provides no biographical information about its team aside from their university associations, so it's not clear if this is their first business venture.
Mindlink has received moderate coverage from several websites devoted to covering ICOs, including CoinGecko, ICOMarks, and ICOBench. Its Facebook page is actively maintained, and has attracted over 500 followers, though its Twitter is underdeveloped and has less than ten followers. The company's Telegram group chat is also relatively popular, with 447 members.
Mindlink's primary product is its education platform. The company provides little information about it; neither its website nor its whitepaper provide any mockup images, descriptions of features, or technical details. They do note that they intend to use one or more blockchains to verify the integrity of all submitted work and issued credits.
They also note that users must pay to both create and attend courses using the company's cryptocurrency; it's not clear if course instructors are paid for their work, or how the content is verified.
The company's whitepaper addresses serious and often overlooked topics relating to education, most notably pointing out that the physical and institutional infrastructures required for schools have become exorbitantly expensive, and that a decentralized computer-based approach could accomplish the same results for much less.
The roadmap posted on the company's website explains that 2018 will consist mostly of developing and testing the platform, and an official launch will take place in late 2018 or early 2019.
Mindlink is also releasing its own cryptocurrency which it says which will be deeply woven into its system. It is an ERC-20 compliant token, meaning it can be stored in wallets designed for Ethereum and can be traded algorithmically using smart contracts. A total of 20,700,000 will be issued, with half of them available for investors. The company also states that the currency will be traded on public exchanges, but it does not identify which ones.
The currency is currently being offered in a private pre-ICO sale, with the full ICO running from February 24th to March 24th, 2018. To participate in the ICO, buyers must be added to the whitelist, meaning their identity has been verified in accordance with “know your customer” regulations.
If Mindlink can address the problems it identifies, it could significantly reduce the cost of quality education. However, the platform is still early in its development, and the company offers little explanation about how it plans to meet these deeply important goals.
Mindlink is one of perhaps thousands of companies issuing their own ERC-20 cryptocurrency that will be integrated into a new platform. Since the currency is so closely tethered to the platform, its value cannot fluctuate as rapidly as other assets whose value is determined only by speculation.
However, requiring a cryptocurrency to use a platform can alienate would-be users who are skeptical of or simply not interested in the technology.
The MindLink ML ICO Verdict
Like many companies issuing a cryptocurrency, Mindlink seems more interested in its ICO than developing a strong product. The weight of the ideas described in their whitepaper suggests an ambition and profundity beyond many companies developing blockchain technology, but they need to offer more proof that their service is powerful enough to solve the problems they've identified.
Investors curious about Mindlink's currency should wait for more information about the company's platform, and investigate how the currency will be used on the platform.