Topia Coin plans to revolutionize the way data are stored and transferred. One of the most powerful effects of blockchain systems is the underlying cryptography, which allows for a trustless, secure transfer of data. Topia Coin wants to offer a distributed file sharing system with unbreakable encryption. In the Topia ecosystem, users would be able to share data, as well as digital assets.
The advantage of Topia Coin lies in a patented approach to encrypting distributed data. Participating in this ICO exposes backers to an already well-developed product idea, with an added layer of blockchain transactions. And while on the surface Topia Coin looks like a high-quality ICO, the project may not be suitable for all types of investors.
What is Topia Coin?
- Topia Coin
- Topia Coin White Paper
- Country of origin: USA
- Ticker: TOPIA
- ICO Dates: 15 January – 5 February
- Hard Cap:
- Funds raised:
- Funds accepted:
- My Rating: 4/5
Topia Coin Social Media
Topia Coin Overview
Blockchain is forever – a very useful feature when it comes to securely store sensitive data. Topia Coin wants to exploit this feature and create a secure model for distributed storage. A blockchain is an extremely robust data structure, and a distributed ledger is suitable for storing data. In the case of Topia Coin, storage would be achieved by the voluntary work of network participants, without the need for data centers.
Topia Coins has even given a glimpse of its offices in an earlier tweet, dating back from the months of the pre-sale:
— TopiaCoin (@Topia_Tech) October 17, 2017
Topia Coin has scheduled the ICO at the time it also plans the initial developments of its viable product and the peer-to-peer data storage network. But the beta release for the complete product would come in 2019. Meanwhile, other projects like MaidSafe would be gathering speed, and creating a community. So Topia Coin could possibly arrive into an already established market, and compete with Storj as well.
Topia Coin, however, claims to have a patented, proprietary technology of encryption, which may become a competitive advantage. Every time the data is used and sent back to storage, it is re-shredded and encrypted, never allowing a third party to see any part of the files. Because of the nature of the blockchain, changes are stored permanently, and the data is tamper-proof.
The Topia Coin Team
The Topia project is built like a corporation, headed by CEO Janine Terrano. There is even an Executive Vice President of Corporate Development, Jeff Cesari. It is somewhat unusual to see a blockchain project built around a corporate structure, making Topia Coin uncommon. Blockchain projects usually sport more decentralized teams, and firm-like projects may be raising some red flags. A centralized project may not allow for community criticism, or for voluntary developers to join the team.
On a more positive note, a centralized and public team also means less volatility and higher security.
John Haager is the chief blockchain developer for the project.
The rest of the team includes:
- Dan Joslin – Director & Security Strategist
- Cody Sandwith – Blockchain Engineer
- Jeff Pack – Director of Engineering
- Sean Gray – Security Engineer
- Cuneyt Baris – Community Manager
About Topia Coin Token
In the case of Topia, the TOPIA token seems to have no actual role in the ecosystem. The company has not even prepared a white paper for the current ICO, but has published a series of white papers and research about general encryption and cloud storage.
The TOPIA token would be an Ethereum-based asset, whose main purpose may be just to raise Ethereum for the firm.
In the case of similar projects like Storj and MaidSafe, the tokens are sent out to users providing access to their hard drives, as a monthly reward instead of “mining”.
Investing in Topia Coin: The Pros
Topia Coin has a clear idea and the project seems to have strength and expertise when it comes to cloud storage and security. A centralized governance structure may mean a lesser risk compared to similar projects relying on community efforts.
The technology of Topia Coin may prove to be superior and rely on more powerful encryption.
This ICO is a fully legalized project available to US-based investors.
The Risk of Topia Coin
Topia Coin is a strange ICO, in that the minimum participation amount is $5,000. And there is one detail which makes this ICO stand out: it is open only to accredited investors. Usually, ICOs try to democratize the token.
But the Topia Coin project looks almost like an impostor in the crypto space, offering up a classical business model to a world where decentralization, democracy and community are seen as positive features in a project. It is possible that Topia Coin is just a tokenized business, which would have tried to push its solutions through other channels, but happened to stumble upon the blockchain and tokens trend.
There is hardly any mention on how Topia Coin would communicate with the Ethereum blockchain, except a cursory mention of building a smart contract. But a smart contract can be extremely simple, and cannot be seen as groundbreaking technology.
While this ICO looks like a unicorn compared to less-formal, decentralized teams, in fact it risks not surviving in the ecosystem of cryptocurrencies.
Final Thoughts on Topia Coin
The Topia Coin ICO is a project that looks too good to be true. While its team seems top-notch, and the ideas extremely clear, there is a big risk that the company, with its classical hierarchy, is not adapted to the realities of the blockchain community.
There is a risk that Topia Coin will not click with the crypto ecosystem, and remain a solid, but overlooked project for a long time. Partnerships, exchanges and popularization are key for blockchain projects. Open-source, decentralized projects sometimes attract developer talent from unexpected places, but Topia Coin, for now, seems to be a self-contained business, with its own experts and vision.
There is little explanation on how a distributed network of users and storage providers would emerge. Just ahead of the ICO, the Twitter account seems asleep on the wheel, and no signs of an emerging community are seen. With an ICO targeted to large investors, it is not so unusual. But in the case of Topia Coin, the digital asset may miss the backing from a vast network of investors and traders interested in testing a token with a smaller investment.
Due to the fact that Topia Coin targets only accredited investors with a large contribution, its token may remain unknown, and centralized in the hands of a few large holders. Therefore, we are giving this ICO a 2/5 rating. For the risk taken with an investment above $5,000, several other types of tokens and projects could be tested.
Should YOU Invest?
Honestly, most people looking to invest in altcoins, tokens, and ICOs are hoping they discover the next Bitcoin or Ethereum. The chances of that are rare.
So where is your money best invested? My recommendation might surprise you. It's free to join, and won't require that you invest in risky cryptos!