DARFChain review

The main idea of DARFChain is to develop a new revolutionary economy that they call a “Tokenomy”, that is an economy of tokens.Their objective is to have everyone use their own digital assets/currency and survive day to day making payments, just like you would with fiat or a credit/debit card.

DARFChain is focusing on working in the field of Enterprise Resource Management. They consider their work “Inter-planetary Enterprise Resource Planning” and are also creating an IPFS (Inter-planetary File System) made on the Ethereum blockchain. They are already working with such partners as Waves, ChronoPay, and BigChainDB. It looks to be something really new and interesting to add to the world of crypto.

Goals

It seems that DARFChain has many goals, but their main goal is to create the system which will run the economy based on tokens. Their hopes are for this to revolutionize the world and current economy with a transition to tokens/cryptocurrency. Those that are already invested into cryptocurrency already see the potential and incredible growth of it. With this goal, DARFChain seeks to empower each person that uses it to be able to build their own digital asset and basically support their day to day life. It’s quite an ambitious goal, but not at all unrealistic or impossible.

What problems does DARFChain Solve?

Well, first of all, the biggest issue that most of us have in the world of crypto is that the rest of the world is not up to date. They aren’t keen on cryptocurrency and its potential to change the world and society as we know it. In fact, most people don’t even know what it is, let alone understand it. So, the biggest problem that DARFChain is solving is helping to build a bridge and make a transition for the world economy to transition into a tokenized economy.

With the IPFS (Inter-planetary File System), this project will test out the movement of information on the blockchain. This is where they are partnering with Waves system and BlockchainDB.

For the average person, most of this will probably go over your head and for me as well. DARFChain is quite a technical project and difficult to grasp what all they are planning to do. Their goals are quite extreme, but as I mentioned before within the realm of possibilities. They have an overwhelming amount of information on their website along with long videos and tutorials demonstrating some aspects of their platform. I feel it may be a big concern for them to be able to get more investors behind this project if it is not so easy to grasp for the average person or investor.

DARFChain’s platform is not fully available yet, but they have demo videos up on their website of many aspects and features.

During it’s Pre-ICO crowd sale, they had 57 backers in total which accumulated 3.99 BTC, 8343 WAVES, 22.94 ETH, and 13.83 LTC. Currently, they are selling DARF on their website at rate of 1000 DARF for 6,875,000 satoshis or about .06875000 BTC. At the time of this article, they have a discount of 31.25%.

Team

The DARFChain team is looking incredibly well-rounded and really diverse in their skills. A main key point is their technical skill, since this project really comes down to innovating and inventing a new platform that could change the way that society operates. Their team seems to have the technical skills needed to make this happen.

The project is lead by Konstantin Bakulev, who has an expansive background in economics. His skills and experience are without question. He is the author of an interesting book about international economies. He has also worked with several members of the Russian Federation government for roughly 8 years. Sergey Stepanetz, who is the Chief Technology Officer, has at least 5 years working as an expert of Odoo. Their director and technology director make a really good team.

Their team also includes some powerful advisors. Pavel Vrublevsky, who is the leader behind the Chronopay project, is an advisor and ChronoPay is also a partner of DARFChain. Another advisor on their project is Anatoly Semyonov. He is a representative who worked under the Russian Federation for about eight years. No joke, right?

Medias

It is apparent they have really started from scratch, but interested to see how far they take it. They have a social media presence on Facebook, Twitter, YouTube, Linkedin, and a Telegram channel. Their stats are as follows: 600 likes on Facebook, 300 followers on Twitter, and 36 subscribers on YouTube. As you can tell by their social media presence and pre-ico backers, they have not had a lot of traction, yet. I believe part of this is because of their website and how they distribute their information. It has been a challenge to learn about this project and exactly what they hope to do because of the organizational structure. I hope they can take this experience as a learning opportunity to help them reach their goals and help them to build their community world-wide.

Bounty Program

The dates of the bounty program were from June 1st 2017 to November 30th 2017. They gave bounties for joining their community and being actively involved. You had to register on their website to apply. Like most bounty programs it included a bitcointalk avatar and signature, social media posts, whitepaper translations in different languages, and more.

Roadmap

Their current roadmap starts from the August 2017 and goes until July 2018. In August 2017, they released their free platform called Odoo, that allows to create, read, edit actions in the blockchain. This includes Bitcoin, Ethereum and Waves cryptocurrencies. In September, they developed their storage blockchain in partnership with BigChainDB. In October, they are working on their role access and developing custom smart contracts. Currently, in November, they are working on overseeing payments and the transfers between users/accounts to make sure everything is functioning properly with no bugs or problems. At the end of the year, in December, they will add the micro-payment feature on transactions to speed up the system.

Starting in 2018, in January, they will work on their smartphone application and sms platform. In the month of February, DARFChain will be working on multi-token accounting in which usability of separate account tokens will be added. In March, they will be integrating their built-in exchange. In April, the flow of cash and budget management will be the focus. The month of May will be dedicated to procurement planning. In June, they will be developing their “Semantic Smart contracts”. Lastly, in July, they will be developing and testing their Artificial intelligence bots for exchanging tokens.

Security

DARFChain is currently accepting BTC, ETH, LTC, and WAVES for their DARF currency. Their goal with their platform is for entrepreneurs and individuals to be able to have their own digital currency unique to them, in which they can use to make payments. Security is a must and a prime focus of the platform. They have and are currently designing it to be integrated with all other ERP systems, so reliability and security are at the foundation of their company.

Pros and Cons

Pros:

  • Currently working on their platform with demos available and partners like Waves and ChainBlockDB
  • Develops a platform for people to have their own unique digital assets they can use as currency
  • Built on Ethereum and utilizing Smart Contracts
  • Creating a new system for the global transition from our current economy to a TokenomyCons:
  • Website is confusing because of overwhelming information that is not well-organized
  • Small social media presence and community
  • Only 57 backers for their Pre-ICO crowd sale
  • Ambitious goals, but difficult to execute

Overall Analysis of DARFChain

It seems DARFChain is actually a really neat project that brings something new to the crypto space. They already are working with some great partners, one of which is WAVES. Their project comes across as super technical and quite difficult to understand for your average person or investor. I believe this contributed to their current crowd sale statistics and social media following. If they can figure out a way to deliver this information in a more simplified sense, I believe they will generate a lot more success and awareness in the community.

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