Altcoin Investing Pick: ASK
Altcoin Investing Pick: ASK
Freemium: Permission Coin
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ALTCOIN INVESTING PICK: PERMISSION COIN (ASK)
WHAT IS PERMISSION COIN
“ ‘ASK’ is the currency for permission. Its primary use case is to power a global digital ad system built on permissioned data and opt-in engagement. The project aims to offer an antidote to some of the most significant problems of Web 2.0 - surveillance capitalism, data exploitation and interruptive marketing - by enabling users to securely grant permission and monetize their data across the web, while providing an enterprise solution for marketers seeking better return on their ad spend.” - source: CMC
“Permission is making it possible for you to own and be compensated for your data in Web 3.0. Permission has created the tools and the infrastructure for you to grant permission and earn from your data across the digital ecosystem.” - source: Permission
TEAM
LinkedIn: Charles Silver (in/charles-silver-5501231), Hunter Jensen, Jenny Silver
*more about the Permission Coin Team here.
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TOKENOMICS
“The Permission Coin is designed to provide utility within the Permission Ecosystem and its applications. Individuals earn ASK for their time and data, and as applications are developed, individuals will be able to not only earn and spend ASK on the Permission Platform, they will also be able to connect with and engage other individuals through various ‘ask-permission-first’ applications.” - source: Permission WP, page 24
*as of November 25, 2021:
Total Supply & Hard Cap: 100,000,000,000 ASK (100 Billion)
All-Time High: $0.024 (September 21, 2021)
Circulating Supply: 15,412,518,411 ASK
Current Market Cap: $25,392,973
Market Launch: September 21, 2020 @ $0.0004984
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TECHNOLOGY
Permission.io claims to have a protocol which is based on their ‘fundamental innovations’ in Data Algebra.
Permission (ASK) is built on their own blockchain called Permission Blockchain, which is based on Ethereum, but utilizes a Proof of Authority (PoA) consensus mechanism.
“That decision was largely driven by two critical factors: scalability and cost. The blockchain needed to be able to scale to accommodate immense volumes of users relatively quickly, as well as provide speed and a low cost per transaction. At the time, these crucial factors were beyond the capabilities of Ethereum, which was focused more on maintaining decentralization.” - source: Permission.io WP, October 2021, Version 1.22, page 20
WHERE TO BUY ASK
Links:
PERMISSION (ASK) GIVEAWAY
Permission.io is running a giveaway worth 500,000 $ASK coins to be split equally between 50 random lucky winners. For a chance to win, visit:
https://airdropalert.com/permission-airdrop
OVERALL SCORE
*score is based upon transparency of the project, tokenomics, utility, and components of the website.
INVESTMENT STRATEGY SUGGESTION
A) Long Position (Risky)
B) Wait for more exchange listings (Safest)
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COMMENTARY & CRITIQUE
The Permission.io project gives me mixed feelings. I want to like this project because of what it stands for, the overall execution thus far, and the user experience of the platform.
However, there are some anomalies found after further digging into the project. Like the CEO & Chairman’s LinkedIn account, Charles Silver, says “This profile is not available” yet there is a link on the Permission website. Another caveat is Permission claims to “have been awarded an extensive portfolio of database-optimization patents that support our platforms”, but after investigating these patents, they seem to be assigned to a group called Algebraix Data Corp which was founded in 2009 and has Charles H. Silver as the CEO - along with a Rajesh Lakhani as a CFO and mentions of a Anal Shah. See: SEC REPORT
Another factor to take into consideration is the choice to create their own Blockchain. While impressive, it makes it difficult to get listed on more prominent exchanges like Coinbase, Binance, Bittrex etc. This choice effectively makes the price of ASK to strongly depend on more users and developers to start utilizing their Blockchain in order to start seeing any significant market price movement. Evidence of this can be seen simply from when the project launched onto the market (September 2020) compared to the current exchanges in which ASK is listed.
Personally, I would like to see some form of the Permission Blockchain integrating or interacting with other widely used blockchains such as Ethereum, Bitcoin, or Avalanche before adding ASK to my portfolio. For now, I will just stay updated with their progress.
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