Cognida – Due Diligence Report

Summary

Pre-sale: 20.6.2018

Public sale: 20.7.2018

Hard cap: 20 000 000 USD

Total supply:  550 000 000

Token allocation: 54% +3% airdrop

Underlying platform: Ethereum

Ticker: COG

Accepted currencies: ETH, BTC, USD

Pros

  • Experienced team and interesting advisory board
  • An interesting project that could find a lot of clients, but good sales force will be needed due to focus on enterprises
  • Reasonable hard cap

Cons

  • The token does not have a much unique use case and incentivization
  • Very small community and activity so far
  • Nobody with blockchain development experience in the team

 

47%

Team: 4/5

Project: 3/5

Token use case: 2/5

Token Metrics: 2/4

Roadmap: 1/3

Community and marketing: 1/5

Hype: 1/3

 

Description

Cognida delivers trusted blockchain solutions that address the increasingly complex information sharing challenges that enterprises face by allowing them to incorporate decentralized blockchain security features into their existing Infrastructure. Enterprises can leverage Cognida’s Service Network Interface to connect to trusted service networks where they can administer third-party cloud services from a single interface, enabling administrators to manage privacy, access, and security of their data on remote systems through a unified platform. As enterprises adopt new distributed technologies, the data landscape is evolving away from centralized services maintained behind corporate firewalls to a complex distributed landscape. This trend has corporate data scattered across devices and services outside the enterprises’ administrative control.

The Cognida Platform, which has been developed by Windmill Enterprise, solves these disconnects by enabling enterprises to benefit from the advantages of existing blockchain technology to address their growing security and privacy challenges. The Cognida Platform will be released to an open-source foundation at the launch of the Cognida Service Network.

It seems that the team is describing some kind of escrow or multisig service, but the way they describe it seems unnecessarily complicated and vague.

Team

Executive team:

Michael Hathaway – Co-Founder, Technology and Managing Director

  • He worked with pioneers in electronic music and digital audio. After developing a line of affordable digital audio products at Lexicon (acquired by Harmon Industries), he transitioned to the networking sector.
  • He was a technical contributor during the early days of Ethernet and ATM network switches, culminating in developing the first gigabit capable Internet packet forwarding engine for a DARPA project while working at BBN. He was a founder and executive at the pioneering terabit Internet router startup, Ironbridge Networks, and CTO at network processor startup Agere (acquired by Lucent Micro).
  • he founded Information Xchange (IX) and developed the Tensor-Connect platform based on his architectural principles.

https://www.linkedin.com/in/michael-hathaway-85186/

Bing Byington – Co-Founder, Strategy, and Operations Director

  • A serial entrepreneur creating businesses in the Mobile Wireless Digital Imaging, and Healthcare sectors.
  • He was a CEO and a principal of a consortium of seven Mobile/Cellular licenses in the US and two internationally and sold his business to George Soros and the predecessor companies to Verizon and AT&T Mobile.
  • He built industry leading digital imaging software for early generation digital cameras. The business was sold to Kodak.
  • Currently Executive Chairman of CareConnex, integrating patient data from hospital ICUs and emergency wards, beyond the hospital walls into EMRs, lowering re-admissions and supporting “aging in place.”

Frank Fernandez – Partner, Director of Finance

  • Has been managing and advising multi-billion dollar institutional private equity portfolios for more than 20 years.
  • he has been utilizing this experience to serve as an advisor to Blockchain projects such as Cognida, Hatch Crypto and Vault Wallet.
  • He founded Gateway Private Capital (“GPC”) in 2004 to advise large institutional investors and assist with the management of their private equity portfolios.
  • Since 2008, he also has served on the Investment Committee for Keystone National Group, a private equity and private credit fund manager with over $1 billion under management.
  • Previously was the founding member and Senior Portfolio Manager of the Alternative Investments Asset Class at the $100 billion Florida State Board of Administration. During his six years at the Board, he managed a private equity portfolio with over $6 billion.
  • MBA in finance from Tulane University’s Freeman School of Business and a BS in engineering from Tulane’s School of Engineering

https://www.bloomberg.com/research/stocks/private/person.asp?personId=3720298&privcapId=37508382&previousCapId=7353516&previousTitle=Institutional%20Limited%20Partners%20Association

Lead Developers:

Jon Saperia – Enterprise Architect

  • Formally a Harvard Enterprise and Software Architect who has a system architecture background in network management and enterprise platforms
  • also has experience in encryption and authentication technologies for large commercial networks and enterprise networks.
  • Experience in managing software development teams on large scale projects
  • He has held architect positions at Digital Equipment Corp, IronBridge Networks, Ohia Networks, Ambient University, and Harvard University.

https://www.linkedin.com/in/jonsaperia/

 

Michael Anderson – Software Architect

  • His career includes roles as Senior Software Engineer, Technology Consultant, and Business Analyst for Commercial and Industrial Customers, System integrators, OEMs and Software Application Developers.
  • He was an early architect and platform developer and CTO at EnergyIX (now IXOT) where he co-architected the core software which enables Operational Technologies (OT), emerging Machine to Machine (M2M) and IoT technologies to share information and connectivity with Cloud and Enterprise applications while addressing security and data privacy challenges facing commercial and industrial customers.

 

Nick Etson – Enterprise Development and Integration and Software Architect

  • Experience in working in multiple sectors of business over the past ten years, most recently integrating API’s into multiple blockchains.
  • Beginning his career in the aerospace industry – systems administrator, network administrator, and software developer for Swales Aerospace.
  • During this time, he architected crucial enterprise infrastructure such as e-mail, HTTP, and DNS servers. His software related projects at Swales Aerospace ranged from developing accounting and task planning applications to niche subjects such as finite element analysis engineering software, 3D graphics programming and electrical engineering/embedded systems development for spacecraft ground support equipment.
  • Currently, he is a lead software developer for a start-up company focused on streamlining conferencing and collaboration solutions.

https://www.linkedin.com/in/nick-etson-2a002813/

Development team:

JP Maxwell

  • has been specializing in Software Development Project Teams since 1996 when JP set out to build teams that not only mastered the technical aspects of the Internet but also understood that aesthetics and usability were paramount.
  • BA in Communications from Trinity University
  • Over the past twenty years, he has lived in both New York and Austin, managing development teams for multiple local, regional, and national clients based in both markets.
  • His Linkedin profile does not mention a connection with the project

https://www.linkedin.com/in/jpmaxman/

Manuel Razzari

  • has been designing and building websites since 1996, and working with XHTML and CSS layouts since 2002. He is proficient in JavaScript, PHP, and Python (Django).
  • holds a Bachelor of Multimedia Technology degree and is an active Working Group member of IxDA.org’s Buenos Aires branch.
  • also a member of the UK-based Guild for Accessible Web Designers
  • Also, his Linkedin does not mention a connection with the project

https://www.linkedin.com/in/manuelrazzari/

Fernando Aramendi

  • graduated from UTN, Argentina, Fernando
  • has worked on web applications for 10 years, ranging from startups to large companies
  • expert in Python and related Python frameworks, he now works as a senior lead in product development and software architecture.
  • His profile does not mention connection with the project

https://www.linkedin.com/in/faramendi/

Advisory board of the project:

Project

The main pain point that Cognita is trying to solve can be summarized like this:

Cognida solution could be summarized as:

  • Blockchain Agnostic – Cognida delivers standardized security APIs for interaction with multiple blockchains
  • Distributed Permissions – Allows multiple stakeholders the capability of interacting and retrieving data
  • Trusted relationships – Ledger data is anonymized and unreadable outside trusted stakeholders
  • Secure Interaction with Service Providers – Single-payment interface across multiple vendors and services
  • Familiar Administration Functionality – Enables enterprise to manage permissions on remote and cloud systems

 

The Cognida Platform secures enterprise assets and provides a Service Interface

into a network of trusted vendors. This reverses the conventional “terms of services”

contracts that vendors require customers to sign. This approach enables enterprise

administrators to enforce their service policies with Cognida Service Network

Vendors including managing access to subscription data, enterprise assets and

enforcing data persistence/deletion policies.

 

Token use case

Cognida Foundation will issue the COG cryptocurrency to provide a single

cryptocurrency payment method for enterprise customers to utilize to pay for

settlement services.

The token is basically only a utility token with added centralized collateral insurance.
“Utilization of COG cryptocurrency to a fund paid into by Settlement

Providers provide the Foundation with tools to trigger a release of these funds

to customer accounts if a service provider fails to deliver on contractual

Agreements.”; WP, page 12

 

Token metrics

The Cognida token is an ERC20 token with a maximum supply of 550 million.

Roadmap

The only Roadmap that could be find now is only in Telegram groups pinned post.

2018

6/12 – Marketing Launch

6/20 – Private Sale

7/15 – Ethereum Based API (Wanchain) & Third Party Key Signing

7/20 – Network Launch

–Token Generation Event & ethereum based apis

–Blockchain Authorization Services

–Blockchain Data Integrity Services

–Python Scripting Environment

–Secure Private Data & Messaging

Q3/Q4

– Clinical Trial App Beta Launch

– IIoT Admin & Security

– Enterprise Apps

–Incentivised Community Development

–Cognida Foundation Governance

–Trusted Network Identity Services

 

Community and marketing

Most community activity they have is going on in their Telegram group https://t.me/cognida, 8620 members. The rest of their social media is with little activity and almost no members or subscribers. Their blog https://medium.com/@cognida has 3 subscribers and no posts. On Reddit https://www.reddit.com/r/CognidaNetwork/ they have 4 posts and 35 readers. Their Facebook https://www.facebook.com/cognida account has 35 subscribers. On Twitter https://twitter.com/cognidanetwork they are followed by 161 people. And on Linkedin https://www.linkedin.com/company/cognida/ they have empty profile with 1 follower.