Starts: 1/1/18 Ends: 12/31/18

BMJ QuickScore: 4.1





220 Investors read this

Bulleon's goal is to build a single platform that allows individuals to accomplish any common task related to digital currency. Bulleon says that it will support everything from buying and selling cryptocurrencies, to managing cloud-based bitcoin mining, to paying for goods and services using a crypto debit card.

All of Bulleon's services will be available through a single Android or iOS app.

The ICO for Bulleon's token, BLN, runs from January 1, 2018, through December 31, 2018 (which makes it an unusually long ICO).

The Problem and Solution

If you have spent any time in the world of cryptocurrency and crypto investing, you have probably experienced two challenges.

First, many software applications in this ecosystem are still maturing. Most are not exactly user-friendly. Their interfaces are not always well designed, and they may be buggy.

Second, managing crypto assets requires you to maintain a slew of different software applications. You have a digital wallet. You have a cryptocurrency exchange account (or perhaps several). You might have a crypto debit card and a crypto mining account. Each of these services typically requires you to install and maintain a separate software application and create a separate set of login credentials. In addition, there is usually no way to view or manage all of your crypto-related activities through a single pane of glass; instead, you have to log into each application separately when you want to accomplish a particular task.

Bulleon's goal is to address both of these problems by providing a user-friendly application that integrates all common crypto-related services into a single platform.

The Bulleon platform will make individuals' lives easier. It will also significantly reduce the amount of time that it takes to manage crypto-investments or buy and sell using cryptocurrency, thereby allowing individuals to spend more time innovating and less time managing.

Bulleon also stands out from many other crypto startups because of its highly decentralized financing and governance model. The platform promises to pay dividends to anyone who invests in Bulleon as a way of enforcing collective, decentralized ownership rights over the platform.

The Team

Bulleon's executive team includes:

Vitaly Chizhov, co-founder and CEO. Prior to founding Bulleon, Chizhov worked in technical drawing.

Golubeva Arina, co-founder and CMO. Arina appears to have a background in client relationship management.

Alex Golubev, CTO. Golubev lacks a LinkedIn profile and his background is unclear.

Bulleon appears to the first blockchain-related company with which any of the executives have been involved. It is also not clear that the CEO and CMO have direct prior experience in roles similar to the ones they hold at Bulleon; Chizhov has a technical background, rather than a management one, and Arina's experience in account management is only somewhat related to her role as marketing lead at Bulleon.

The Token

The Bulleon token, or BLN, is an ERC-20 token that is designed to serve as "both a-share-like [sic] token and a cryptocurrency token," according to the project's whitepaper.

By that, the team means that BLN serves both as a rewards mechanism for people who use the Bulleon platform (that is what "share-like" appears to mean) and as a general-purpose cryptocurrency that can be traded on exchanges and used to buy and sell goods and services.

The rewards mechanism works as follows: Owners of BLN tokens will have voting rights on the platform. They will also receive quarterly dividends equal to 40 percent of Bulleon's operating profit, provided that they are in the top 25 percent of BLN holders. Bulleon also says it will pay this group a one-time dividend equal to 80 percent of surplus funds when the project reaches "stage 10," which is the final stage of development of the platform. The timeline for reaching stage 10 is not yet clear.

The Community

Bulleon maintains a somewhat active Twitter account. It does not appear to have publicly available source code, but that is perhaps because it does not yet have much existing software.

Next Steps

Bulleon has identified a clear problem to solve within the crypto space. The lack of user-friendly tools for crypto investors and the need to set up so many different accounts and applications in order to perform different tasks related to cryptocurrency are significant hurdles standing in the way of widespread cryptocurrency adoption. If Bulleon can develop a single, user-friendly application that provides all of the services it promises, it will offer considerable value to users.

In addition, Bulleon's governance model and dividends-based rewards system make the platform attractive. Although Bulleon is not the only cryptocurrency that is designed to generate passive income for owners, relatively few altcoins do this. This feature also helps Bulleon to stand out from the crowd and makes it attractive to early investors who can buy into the platform at a large volume. (A large-scale investment is necessary to reap the dividends rewards, since only the top 25 percent of token holders are eligible for them, as noted above.)

On the other hand, Bulleon has some drawbacks. As noted above, the project's leadership team seems somewhat inexperienced for this type of project. Its executives may indeed prove competent, but it is hard to make an assessment based on their backgrounds, which do not correspond closely to their current roles at Bulleon.

In addition, Bulleon is still in an early stage of development, and it is unclear how long the platform will take to mature fully. It is currently in "stage three" of ten total development stages described in the whitepaper. Several core parts of the Bulleon platform, such as a cryptocurrency exchange, a debit card, and a biometric wallet, are not set to be developed until later stages.

Finally, the greatest challenge for Bulleon may be competition from more established projects. For example, Gem, one of the first blockchain startups to gain a profile in the world of traditional finance and enterprise business, plans in spring 2018 to roll out its own application for managing multiple types of crypto assets through a single pane of glass. The Gem application will not offer as many features as Bulleon aims to provide eventually, but given that Gem's application is (essentially) here now, and is also designed to emphasize user-friendliness, it is an example of the type of competition that could stunt Bulleon's growth before the latter gets off the ground.

The bottom line is that the Bulleon team has a good idea, but building so many different types of services into a single application is very ambitious. So far, only a small percentage of the application has apparently been developed. We'll believe it can all be done when we see it.

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How to Invest

Please Read How to Invest in ICOs
Then see Bulleon Investment Instructions

Questions and Answers

How many Bulleon tokens do you need to own to earn dividends?

To earn dividends, BLN holders must be within the top 25 percent of all BLN owners. The exact number of tokens required to achieve that status is not yet clear.

How many BLN are for sale?

7,590,000 tokens total are for sale.

What is the price of a Bulleon token?

One Bulleon token, or BLN, costs 0.001 Ether.

Which blockchain does Bulleon run on?

Bulleon is an ERC-20 token running on the Ethereum blockchain.

Where is Bulleon based?

Bulleon is based in Estonia.

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Team Members

Vitaly Chizhov (LinkedIn)
Golubeva Arina (LinkedIn)
Anita Volk (LinkedIn)
Nathan Christian (LinkedIn)
Simon Cocking (LinkedIn)
Matti Vilola (LinkedIn)

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