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Bankorus - Due diligence #125

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icochecker opened this Issue May 8, 2018 · 3 comments

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icochecker commented May 8, 2018

Bankorus (BKT)

telegram-chat

Whitepaper 1.0.1

馃敟 Update 17 May 2018 - The latest statement made by Stephen Kade saying that he is transitioning from CTO of Bankorus to CTO Advisory contradicts what he previously wrote, stating that Bankorus should not have listed him as the CTO, and misrepresented his relationship with them. 馃敟

stephen-kade-bankorus-statement-17-may

馃敟 Update 10 May 2018 - Stephen Kade has confirmed that he is not the CTO of Bankorus 馃敟

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Questions about CTO Stephen Kade

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Team

  • Gregory Van den Bergh (CEO) - Month? 2014 - Present | Linkedin profile
  • 瀹 An鍗庡浗 Eagle (Co-Founder & President) - Aug 2016 - Present | Linkedin profile
  • Anne-Flore Goldsberry (Chief Marketing Officer) - Month? 2018 - Present | Linkedin profile
  • Prof Geert Bekaert (Co-Chief Investment Officer) | Linkedin profile does not mention Bankorus
  • Prof Ouyang Hui (Co-Chief Investment Officer) | Linkedin profile does not mention Bankorus
  • Stephen Kade (Chief Technology Officer) | Linkedin profile does not mention Bankorus (Co-founder & COO of Trust Token)
  • Fiona Guo (Head of human capital) - Mar 2015 - Present | Linkedin profile
  • Liyu Shen (Dev-OPS Engineer) | no linkedin profile
  • Jenny Sun (Finance Manager) | no linkedin profile
  • Zhifang Du (User Experience Design Lead) - Jun 2016 - Present | Linkedin profile
  • Kevin Yang (Product Manager) | no linkedin profile
  • Xiaobo Yang (Sr. Front-to-End Engineer) | no linkedin profile
  • Ming Gao (UI Designer) | no linkedin profile
  • Aaron Luo (Head of Engineer) - Mar 2017 - Present | Linkedin profile only mentions Bankorus
  • Tom Li (Python Engineer) - Aug 2017 - Present | Linkedin profile
  • Qiang Li (Machine Learning Engineer) | no linkedin profile
  • Eric Du (UI Designer) | no linkedin profile
  • Ryan Shan (AQR Director) | no linkedin profile
  • Cici Guo (Project Manager) | no linkedin profile
  • Meredith Darden (Community Manager) - Feb 2018 - Present | Linkedin profile
  • Dayan Paiewonsky (Community Manager) - Feb 2018 - Present | Linkedin profile
  • Allen Yilun Zhang (Business Analyst at Bankorus) - Dec 2017 - Present | Linkedin profile
  • J K Full name? (Recruiting Manager) - Mar 2016 - Present | Linkedin profile
  • Jay Majumdar (Business Analyst) - Jan 2018 - Present | Linkedin profile
  • Nicholas Waln (Marketing Manager) - Mar 2018 - Present | Linkedin profile
  • Steffi Kwo (Business Analyst Intern) - Feb 2018 - Present | Linkedin profile
  • Claudio Facheris (Business Analyst Intern) - Apr 2018 - Present | Linkedin profile
  • Temirlan Moltoev (Business Analyst Intern) - Feb 2018 - Present | Linkedin profile

Micai (Parent company)

Advisors

Company

Micai Limited

Registered Address:
FLAT B, 4/F, Kingswell Commercial Tower
171-173 Lockhart road
Wanchai
Hong Kong

Business Name: China International ETF Association
CR No.: 2058941
Company Type: Private company limited by shares
Date of Incorporation: 20 Mar 2014
Active status: Live

Class of shares: Ordinary
Total number of shares: 1
Share capital: 1
Currency: HKD

Director

  • Gregory Van den Bergh

Company Secretary

OCR Company Secretary Services Limited

Suite 603, 6/F
Laws Commercial Plaza
788 Cheung Sha Wan Road, Kowloon
Hong Kong

ICRIS - Companies Registry

Micai Inc.

Address:
P.O. Box 2075
George Town
Grand Caymans KY1-1105
Cayman Islands

MiCai registered as investment Advisor with Finra and SEC

On Bankorus website

bankorus-finra-sec

SEC Investment adviser public disclosure

bankorus-advisery-firm

Part 2 Brochures

Latest ADV Filed

Source: Finra - Broker check

Source: sec.gov

Smart contract

  • N/A

Github

  • N/A

Available after the conclusion of the token sale

Product

bankorus-product

Roadmap

bankorus-roadmap

Vesting

  • Team tokens vest over 4 years.

bankorus-vesting-1
bankorus-vesting-2

To check in the deployed smart contract

Additional info

Token distribution

  • N/A

Token allocation

  • N/A

Bankorus Flags

Real Team: - Cannot verify that all team members work for Bankorus. Stephen Kade has confirmed that he is not the CTO of Bankorus but a remote technology advisor. Update: Stephen Kade Contradicted himself by admitting that he is the CTO of Bankorus.
GitHub: Available after the conclusion of the token sale
Smart Contract: - N/A yet
Working Product (Mainnet):
+2 yr Vesting for team: - Team tokens vest over 4 years. To check in the deployed smart contract
Have a company:
Transparent: Stephen Kade Contradicted himself by admitting that he is the CTO of Bankorus.

IcoCheck.io

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icochecker commented May 9, 2018

馃敟 Update 10 May 2018 - Stephen Kade has confirmed that he is not the CTO of Bankorus 馃敟

trusttoken-stephen-kade-update

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icochecker commented May 10, 2018

馃敟 Update 10 May 2018 - Questions asked to Bankorus 馃敟

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bankorus-ceo

@Hodlito

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Hodlito commented May 16, 2018

Hello. Im Hodlito from the IcoCheck team. Regarding the Bankorus issue:

1. We analyzed the current state of the Bankorus project, and since their smart contract is not deployed and they have no github, that's what we stated. Once they fix those issues (if they ever do) we will update the check.

2. Regarding Stephen Kade, who appears as CTO of Bankorus:

  • As you can see on the github issue screenshots, Stephen himself assured that he was NOT the CTO of Bankorus, and that he was only a remote technology advisor. He also said that "Bankorus should not have listed me as the CTO, and misrepresented my relationship with them by doing so. I have asked them to correct the webpage to list me as an advisor".

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  • After reaching out to all Bankorus team members, Seb QW (bankorus chat admin and Partner at First Point Ventures) said that "Stephen has clarified the misunderstanding and retracted his incorrect assertions.". When asked for a source to prove that claim, he didn't provide one.

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  • Stephen Kade then wrote a vague statement, on bankorus chat, where he claimed that "I look forward to supporting the team as Technical Advisor for the foreseeable future. ".

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  • When asked the specific questions: "Were you at any point CTO of bankorus? If yes, for how long, in which period of time, and part or full time?" and after insisting for 2 days with no answer, he replied: "I'm advising the incoming CTO and will remain advising the project. Bankorus has a strong team, technology, and network of partners - it's bigger than me or any other particular person. Let's move past the particulars of the CTO conversation, look forward to the incoming Bankorus team, and focus on what's ahead."

  • Since he hasn't directly confirmed that he was at some point CTO of Bankorus, we will consider that he wasn't, and are willing to update the issue once we get official confirmation from him, from Bankorus CEO, as well as get the pertinent legal documents as a proof of veracity.

3. In relation to the product, we contacted Bankorus on twitter and telegram, so that they could comment on it and provide any extra information that we may have missed. However, they didn't make any comment, so we assumed that they agreed without analysis. We will look for the app and if we manage to find and test it, and check that it indeed uses blockchain related technology in any way, we will update the issue as well.

4. We at IcoCheck would like to state that we do not have any particular preference towards or against the teams we analyze. We aim to be as objective as possible and provide the most truthful information to help users make more educated decisions as well as avoid getting scammed. All our reviews are open and any project we analyze as well as any Github user can comment on a specific issue and bring any extra information they consider important.

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