With the cryptocurrency and ICO market booming, emerging economies like India have found a new source of funding for innovations. Zebi is precisely that attempt with an aim to streamline the data in the largest sector of India – the government entities. Government entities are the largest infrastructural and informational mine, collecting and recording humongous data on voting, census, land, utility and various other records of 135 crores (approx. 1.35 billion) odd population of the country. With Zebi ICO the opportunity and risks are there to explore, and no player has yet dared to make a significant dent by streamlining the data. Zebi ICO Review will cover various aspect will look at what Zebi means for a country like India and why and what are the capabilities it works with.
What is Zebi?
The original term, Zebibyte is a technical term meaning 1024^7 bytes. The founders came up with this name as a symbol of India’s exponential data growth and the expectation that it will reach a zebibyte by 2020. The founders zeroed on the growing need for recording and streamlining this data explosion through increased internet penetration and usage of smart devices that will generate all this data which will be required to be recorded, organized, scrubbed and analyzed to gain insights into various social, economic and developmental issues. Government digital initiatives and structural reforms need a focus on data security, breaches, and hacking problems which have already cost the Indian economy around $30 billion annually.
The Zebi ICO will enable it to raise money to expand various capabilities in areas as outlined below.
Zebi aims to plug this gap with the use of blockchain with data safeguards against hacking, security breaches, tampering while giving legitimacy to this collection of data by seeking individual permission to use this data.
It is indeed a much-needed solution to the current scenario of digitization and security. As the company describes its product as “Zebi Chain™ to provide immutability to critical records, coupled with a central hub called Zebi Data Gateway which enables secure and instant data exchange through Data-as-a-Service (DaaS) APIs.”
The Indian Problem:
As per Ericsson mobility report, India’s mobile data traffic is expected to increase by 11 times by 2023. 4G Data wave created with the entrance of low-cost telecom carriers enabled the low-income Indian population to join the digital bandwagon. The digital India push will bring villages and small towns in the internet ambit with National Optical Fiber Network (NOFN) initiative.
Data Collection and Security:
The majority of this data is collected and stored by institutions that hold clients’ assets centrally such as banks, telecoms, insurance companies, hospitals, governments, and more. India’s own GSTN holds information for Goods and Services Tax of a large population with multiple business and sensitive information. Aadhaar is another primary data holder with iris and personal identification information collected and stored in government databases that have proven to be ineffective.
Various Leaks and Compromise on Personal Information with significant leaks widely reported such as –
- Reliance Jio (2017) – 120 million customer data leaked
- Aadhaar (2017) – 210 Government websites made confidential information public
It has become all the more important to have an immutable ledger which cannot be tampered with and has limited access.
With the increasing awareness around privacy issues, enforcement of global laws like GDPR (General Data Protection Regulation), and setting up of the committee of experts to study various aspects of data protection by Government of India will give an impetus to suggest a data protection bill for India, including data sovereignty.
Zebi is poised to take-off in this environment. This Zebi ICO review will delve into various aspects of the company and its offerings.
The Zebi Solution:
The company will have a gateway, and a blockchain that can be combined to store and record and the gateway will provide access to it.
Zebi has worked towards these issues and has created a formidable case for their blockchain. It has an order from the Andhra Pradesh government for multi-year subscription work order for Zebi Chain™ signed with Andhra Pradesh (the 10th largest state with a population of over 50 million people) with money already flowing in.
The company has also passed the technical evaluation and is awaiting results of financial assessment from Andhra Pradesh and Telangana governments for other projects. It has submitted proposals to governments and enterprises across India, Singapore, the United States and other countries.
Zebi Token Price:
The Zebi Coin (ZCO) will be a utility token and will come in use with the increased use of the blockchain. Once there are a sufficient number of projects on the blockchain, the ZCO paid by Requestor for a data transaction will be distributed among Data Provider, Individual, and Zebi as a reward for making the transaction happen. The proportion of this sharing will be governed by a smart contract adjustable by consensus among the participants. ZCO will incentivize all participants to use, contribute and grow the Zebi Data Ecosystem. Thus ZCO will be the fourth member of the Ecosystem which will keep all the members bonded with each other in their collective growth journey.
There was a hard cap of $10 million with a pre-sale of $2 million and crowdsale of $8 million. ERC20 tokens were issued with a value of $1000 per token. Zebi ICO price will move during the trade engagement of retail and institutional clients.
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There was a sale of 1 billion tokens which were allocated as follows –
The team comprises of technology and programming experts from Oracle, Intel, Epsilon and other big names of the Silicon Valley. They have a team of engineers, developers, and programmers to build the blockchain and a good network of people across Asia-Pacific and U.S.A. They have already proven to build in-roads with Indian government entities who will be their primary customers.
Zebi is an excellent and unique ICO especially owing to the Indian connect. It will have first mover advantage of addressing the real issues in the digital space. A robust and abled team will help gain credibility and having government as the primary client will have its benefits.
The cons can be the time taken for the blockchain to become sufficiently robust and being accepted by other organizations. A big let-down is the non-disclosure of bonuses for investors and founders in the ICO.
However, due to no other use of the token except use on its blockchain, its prices can be depressed due to non-usage.
Overall, this is a useful and promising revenue project. One can invest in its tokens and see how the business takes off before taking a long-term view.