Swisstok is a still in-development email platform built on blockchain technology, with a stated goal to create a more decentralized and tamper-resistant system that naturally resists hacking and provides high levels of encryption. At the same time, plans are in place to monetize the platform to allow users to earn money by data sharing or user traffic transmission.
To crowdsource development, Swisstok is holding an ICO for its SWSToken cryptocurrency.
What Is Swisstok?
Swisstok is listed as having a headquarters in Baar, Zug, Switzerland. While founder information is not provided, corporate officers are listed, including CEO Yan Stolar, CCO Dmitry Levankov, CMO Anna Kirillova, and CLO Andrey Kizevich. The entirety of the corporate team for Swisstok originates from Russia, despite its Swiss corporate registration.
Work and education histories for these four principals reveal many have worked together in the past on different projects in the telecom industry, specifically a company called Dodidone International, which provides telecom solutions for e-commerce companies. These solutions include email, making it likely that the technology Swisstok aims to use for its email system was perhaps first envisioned at Dodidone.
Eventually, Swisstok will be implementing its blockchain-based, decentralized, peer-to-peer email platform. Until that time, however, development continues and is being financed primarily by the SWSToken ICO.
The ICO pre-sale for SWSToken began on November 23, 2017. Pre-sale token price is discounted by 88%, with each token costing just $0.12 USD. The pre-sale ends on December 20, 2017.
SWSToken coins can be purchased through Bitcoin or Ethereum, with a minimum purchase amount being equal to 5 ETH. The ICO and pre-sale is open globally, with the exception of residents of Singapore and the United States.
The opportunities presented by investing in the SWSToken ICO are slightly vague and amorphous. While there’s always a speculative angle when it comes to ICOs, the secondary component of the investment – gaining cryptocurrency tokens that can then be used within the Swisstok system to pay for goods and services – is wildly underdeveloped when it comes to information presented to investors.
Doubtless there will be some way to use these tokens once Swisstok goes live, but exactly how the platform will be monetized – and how investing in the ICO today will benefit those investors tomorrow – is never truly discussed by the company in any form we were able to discover.
We don’t feel comfortable in recommending Swisstok and its SWSToken ICO as an investment opportunity at this time. There are several reasons for this, but the key problem we have with Swisstok is that there’s never a satisfactory explanation as to how the platform will use SWSToken coins and how users can monetize the platform to their own ends.
This might be due to a language barrier – it seems that the entirety of the Swisstok team are not native English speakers, which can create communication problems. The Swisstok site itself does have some rather egregious, glaring spelling and grammatical errors, typical of non-native English speakers, and this could be why this crucial information is either too garbled to understand or is missing entirely.
However, even if Swisstok spelled out its monetization plans completely, the company’s ICO is still not something we can recommend. Thanks to its barring investors from certain countries – namely Singapore and the United States – it’s simply not an appropriate investment opportunity for anyone from these two countries. In other words, it doesn’t matter how good (or how bad) the investment may be, as it’s simply not available to these classes of investors.
Finally, requiring any purchase of SWSToken coins to meet a minimum of the equivalent of 5 ETH means there is no room for small-scale investment when it comes to Swisstok. With Ethereum trading at nearly $500 USD per ETH at this time of writing, you need to do the math yourself and decide if you can afford to take a gamble on Swisstok.