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Blue Whale Network (BWX)

ICO Verdict

Blue Whale aims to build a decentralized ecosystem for the sharing economy, solving traditional problems of high commission fees, expensive advertising costs and lack of employment benefits. Blue Whale eliminates high commission rates from middlemen, compensates freelancers and small business owners with fair rewards. Blue Whale provides free SaaS (Software as a Service) tools from Customer Relationship Management (CRM), to AI driven advertising tools and proven efficient Booking Software. Blue Whale designed a Worker Optimized Reward Keeper (W.O.R.K) system to build and support the community, ultimately creating a self-sustainable organic ecosystem for the sharing economy.
Reason to invest:
  • Proven business model with track records (Verlocal)*
  • Strong team members from A.I., sharing economy and blockchain fields
  • Innovative grand vision, employment benefits for freelancers
  • ICON Powered ICO**
Hype Rate: Medium
Risk Rate: Low
ROI Rate: High
Potential Growth: Very High
Overall Rating: Very High
*Verlocal is a SaaS enabled decentralized marketplace for freelancers, currently operating in the US, Singapore, Canada and expanding to Japan soon. Blue Whale will be built upon the success of Verlocal, taking full advantage of the blockchain technology to further extend its network outreach.
**Recent ICX price has been under-performing and very stagnant. From the general community sentiment, not many wish to sell at such low prices, diversifying into an ICON powered DAPP seems like a viable option for many.

ICO Information

Public Fundraise

1SGD = 800 BWX
Private Sale
  • Hard Cap: $5,000,000 SGD
  • Incentive: 50% Purchase bonus
  • Launch Date: 15th March, 2018 (tentative schedule)
  • Participation: Only Selected Investors
Verify your intention by completing the attached survey form before 28 Feb 2018 (https://goo.gl/forms/gBLBohmKxkx4rG542)
  • Hard Cap: $15,000,000 SGD
  • Incentive: 30% Purchase bonus
  • Launch Date: 15th April, 2018 (tentative schedule)
  • Participation: This session is catered mainly for VC or Institutional Investors
Token Sale (Early Bird)
  • Hard Cap: $15,000,000 SGD
  • Incentive: 10% Purchase bonus
  • Launch Date: 1st June, 2018 (tentative schedule)
  • Participation: Public
Token Sale (Public)
  • Hard Cap: $20,000,000 SGD
  • Incentive: Bounty Program
  • Launch Date: To Be Announced
  • Participation: Public
Total: 55,000,000 SGD ( 44,000,000,000 BWX )

Full Review

At a Glance

Blue Whale is building a decentralized ecosystem for the sharing economy on the blockchain, tackling several key downsides of traditional sharing economy. These include high commission rates, expensive advertising costs and lack of employment benefits. Blue Whale designed a new system called Worker Optimized Reward Keeper (W.O.R.K), composing of 3 main components, Contribution Activity Manager (CAM) to compensate fair rewards, Decentralized Associated Network (DAN) to deploy cost-effective marketing and advertising campaigns and Reward Bank to provide liquidity and cashflow for the ecosystem.
Blue Whale further explores the possibility of adding employment benefits that are non-existent in the freelance world, these include retirement plan, paid time-off, unemployment, health and medical benefits.

WORK (Worker Optimized Reward Keeper)

Contribution Activity Manager (CAM)

To overcome high commission rates, Blue Whale designed a system called Contribution Activity Manager (CAM) which monitors contributions from all participants within the network and compensates fair rewards upon different activities.
Websites and social media accounts can install free SaaS tools provided by Blue Whale, which allow service providers to post ads to these accounts. If the ads successfully generate leads to purchases, 5% of the purchase price will be allocated to the publisher while another 5% will be allocated to Blue Whale.
(Of the 5% allocated to Blue Whale, 60% of net profit will be deposited to the Reward Reserved Pool.)
Let's create a real life scenario,
A wedding venue website installs Blue Whale's Booking Ad Widget SaaS tool, creating ad space on its website. Blue Whale's Big Data and Machine Learning algorithms will discover relevant relationships among the publishers, eg. professional photographers, wedding banquet caterers, wedding band services etc. Their ads will be posted to the website, and if a serivce is successfully purchased, 5% of sold service price will go to the website, 5% will go to Blue Whale.
This can work the other way around, or cross-promoted between heterogeneous platforms, incentivized under Blue Whale's Referral System and paid out automatically.
In order to ensure the quality of services provided on the network, service providers will be vetted by an independent verifier on the initial 50 tasks, if the rating is lower than 4 out of max score of 5, the provider will need to be verified again before becoming eligible for future listings.
Verification cost, verification reward and verification escrow rate can be found on Blue Whale's WP pg. 11
In the case of disputes, Blue Whale has a complete arbitration system in place to resolve conflicts. Disputes will be reviewed by the arbitration Council consisting of community jury members, these are members of highest quality with following qualifications,
  • Be a freelancer working in the same field
  • Have completed over 100 tasks
  • maintain a rating above 4.9
Arbitration process
  1. Dispute Initiation: Either the freelancer or the user can request for arbitration in cases of conflicts
  2. Dispute Reporting: The request is sent to the arbitration Council and the two parties need to submit the required payments
  3. Dispute Review: 5 or more jury members will be selected at random to decide the case
  4. Dispute Conclusion: Payments are made to the jury members
Before handling the dispute, jurors picked will be required to stake BWX coins into an escrow account, and will be penalized for bad faith acting.
Jurors will provide the rationale and justifications to their decisions, ensuring the involved parties to understand the logic that led to the decision. If the decision was unsatisfactory, it can be escalated to the wider public and revoted. It is also possible to expand the size of jury pool, with higher deposits to compensate the jurors and prevent unnecessary escalations.
Jurors are rewarded at the end of settlements, they will also be rated by the parties involved in the dispute. Consistent low ratings will disqualfy their future participation.

Decentralized Associated Network (DAN)

To overcome expensive marketing and advertising costs, Blue Whale proposes Decentralized Associated Network (DAN), which is essentially a network of decentralized nodes powered by Blue Whale SaaS tools. Websites and social media accounts can install the Ad Widget, which transforms them into new nodes in the network.
The main purpose of DAN is to collect user data and build a decentralized advertising network. Users will be able to leverage big data analytics and the underlying machine learning technology, allowing effective use of ad space at a fraction of the cost of traditional advertisement offered by big players such as google and facebook.
Booking Software Widget
Providers installing the Booking Software on their site or social media accounts will be able to convert any fiat currency into native BWX coins. This also establishes the required liquidity and cashflow for the Blue Whale ecosystem.
Advertising Network
Booking Ad Widget and Ad Widget are components of the Booking Software, with these installed, providers will be able to create ad spaces and post to ad spaces within the network. Participants are rewarded based on their contribution determined by the CAM.
Big Data & Machine Learning Solution
Deep learning is an integral part of the Blue Whale network, websites or social media accounts with aforementioned SaaS installed will allow user data to be collected, analyzed and put into effective use. The ads posted to the network will be displayed based on demographics, interest, geo etc, reaching out to targeted audiences for higher conversion rates.

Reward Bank

The bank acts as a depositary for receiving and disbursing Blue Whale eXchange (BWX) coins as the currency of the network. The bank will receive 20% of BWX offered at ICO as its initial reserve, Contribution Activity Manager (CAM) will be responsible for reward payouts from the bank and 60% of the net profits generated from the Decentralized Associated Network (DAN) will also be put into the bank reserve.


Blue Whale team is stacked with top talents from related fields. Will Lee, CEO of Verlocal, a SaaS enabled sharing economy on the WWW. Hawon Chung, CEO of ChainTOB, a blockchain service operator which recently partnered with ICON. Jaehyun Park, VP at Samsung and leader of blockchain technical research group. Hyunjin Choi, lead at Samsung Advanced Platform lab and chief architect during Mars Polar Lander project at NASA. Graduates from top universities such as Stanford, POSTECH, KAIST, Cambridge just to name a few.
There's a section in the WP with brief intro of each team member, you can find it on pg.26

Useful Reading




Due Diligence

Blue Whale Network (BWX)


TBD, Singapore


Will Lee (Co-founder & CEO) | CEO of Verlocal, Stanford CS (Artificial Intelligence) | LinkedIn Profile
Hawon Chung (Co-founder & COO) | Formerly Oracle | LinkedIn Profile
*Hawon Chung is the CEO of ChainToB, a Korean blockchain startup that is an official partner of ICON, see the partnership announcement here ICON: theloop and ChainToB Partnership
Jay Park (Co-founder & CAO) | Formerly Samsung VP, Formerly SKT SVP | LinkedIn Profile
Hyunjin Choi (CTO) | Head of Advanced Platform lab at Samsung Electronics Ph.D. Cambridge CS | LinkedIn Profile
Changsup Keum (CIO) | Ph. D. KAIST & MS CMU
Jay Choi (Co-founder & Head of Product) | Formerly Oracle | LinkedIn Profile
Ryan Chew (Director of Business Development) | Serial Entrepreneur, Director of Verlocal Singapore | LinkedIn Profile
Qihan Zhu (Software Engineering Manager) | Head of Engeering at Verlocal, UC Berkeley CS | LinkedIn Profile
Alexis Low (Business Development & Sales) | Business Development & Sales at Verlocal | LinkedIn Profile
Minsu Jung (Smart Contract Engineer) | Formerly Tmax Software | LinkedIn Profile
Sophie Ahn (Global Operations) | Formerly Samsung | LinkedIn Profile
Shiyan Yang (Full-stack Software Engineer) | Lead Software Engineer at Verlocal | LinkedIn Profile
David Huerta (Business Development & Sales) | Business Development & Sales at Verlocal, UC Berkeley Political Economy | LinkedIn Profile
Terry Grinner III (Business Development & Sales) | Business Development & Sales at Verlocal | LinkedIn Profile
Hao Yu (Full-stack Software Engineer) | Lead Software Engineer at Verlocal | LinkedIn Profile
More details of each team member can be found on whitepaper pg.26
Injong Rhee | Google EIR, Former CTO of Samsung Electronics
Marco Torregrossa | Managing Director at Euro Freelancers
Kyungjoon Lee | ICON Foundation Council
Jonghyup Kim | ICON Foundation Council


Not yet

Product & Service

Sort of, Verlocal is a good representation of what's coming.


The Blue Whale team will be on a 3-year vesting schedule. The team will receive ⅙ of their allocation 6 months after the end of the Public Sale. Every month thereafter, the team will receive 1/36 of their allocation until the 3-year vesting schedule is finished.

Additional Info

Token Allocation

  • 50% Token Sale
  • 20% Company Reserve
  • 18% Community Reserve
  • 12% Team & Advisors

Use of Proceeds

  • 30% Engineering & Dev
  • 30% Strategic Partnership
  • 20% Marketing & Biz Dev
  • 10% Operation
  • 10% Reserve
submitted by msg2infiniti to icoverdict

Useful Tools for Contributors (full page webpage screenshots, pdf'ing pages, finding, anti-spam, ripping websites...etc)

Here are some useful tools (all windows) that I use when I do research, write, pdf documents, take screenshots of web pages, scan for viruses, upload files online, etc
Here is a link to grab my settings. http://ge.tt/6dIQUpI2/v/0?c
unrelated but you may be interested. a list of racist tv shows / films http://ge.tt/3CvyAkI2
1 http://www.winnovative-software.com/free-html-to-pdf-converte#download_free_html_to_pdf_desktop_app
put url in there, convert. I use the regular settings. If you get pop-overs and other shit blocking the view, turn off the javascript and try again. If images from videos don't load turn on the extensions and try again. If nothing seems to work, select image instead of pdf and try again. Those were the most common problems that I faced.
There is an online version of this program if you don't have windows.
2 pdf xchange viewer http://www.tracker-software.com/product/pdf-xchange-viewer (free - just download)
I use this thing to markup pdfs with notes - eg put arrow boxes with notes, highlight text
go to edit >> import all settings from data file and select this file
PDF-XChange Viewer Settings.dat
Those are my settings. They put useful tools within reach on the toolbar.
3 firefox with https://addons.mozilla.org/en-US/firefox/addon/easy-copy/
I use this thing to quickly collect meta data on all pages that I turn into a pdf so it's easy to identify, organize, and for readers to read headlines. BTW, I pdf pages because many times, resources I linked to died. Also, I can avoid re-reading old urls.
● go to addons >
● change the addon's settings for "easy copy"
● in the templates tab - check ON "enabled" and "show in main menu"
● select "title link" in the list and paste the following in the template section below (without the double spacing)
I read this thread up to %date_time%
● as for the green dots - left column all have green dots, the right column has green dots in the first three.
Here's an example from my database
I read this thread up to Friday, June 19, 2015 3:26:26 AM
After Brain Drain, China Is Luring Some Scientists Home - The New York Times
● btw, you can press ctrl+shift+Y to get the "copy title link". There's no shortcut for "copy title" though. Right-click mouse and select manually "copy title".
4 Firefox's built-in screen shot tool.
I use this when I need to capture a long page that uses javascript (eg comment systems like youtube and disqus). It's limited. It'll break if load like 10 pages of comments, but it's usually ok with 2-5 loads. Your mileage may vary.
● press shift + f2
● type this in WITHOUT the [] [screenshot --clipboard --fullpage]
● press spacebar, then backspace (my computer glitches if I didn't do this. I don't know why. Yours may not have this problem.)
● press enter
● use everything search tool (see 5) to find the image by pasting "screenshot full page" in the search bar
5 everything search tool http://www.voidtools.com/
This allows you to find files ultra fast. it searches as you type.
6 xn view - image viewer http://www.xnview.com/en/xnview/#downloads
This is a full featured viewer that can also save images from number 4 as pdf (open an image file, file > save as > pick pdf in the file list options) so we can mark it up. Note, on my computer, I need to drag the new pdf from windows explorer or everything search tool and into an pdf xchange, mark it up at least once, and save. Otherwise, when I 2x click the pdf, it's wrongly seen as an image file.
7 launchy - fast launcher http://www.launchy.net/download.php
To run programs, most people navigate start > programs > click on folders...until they finally get to their program.
Not anymore. With launchy, it indexes all your executables and whatever else you want and you do something like this
● alt + space bring up launchy
● type 1-5 characters of the program you want (it finds the program you want as you type so it's blazing fast) eg.. excel
● press enter and it's opened
note: You need a computer built within the past 10 years or it's too slow.
8 ditto - clipboard on steroids http://ditto-cp.sourceforge.net/
You can save multiple clips (like hundreds+) so you can work much faster and your clips are searchable as you type in a box. Its only downside is that it only shows the found clip alone, not its chronological position so you better know what you're looking for.
9 sublime text - http://www.sublimetext.com/2
free and fast as fug. Commercial license is $70, but free is just as good. It's extensible with addons too.
10 http://www.roboform.com - roboform (paid though) https://www.roboform.com/php/pums/rfprepay.php?lic=default_alt&lang=en
there are multiple license options. you don't have to pay $10 a year if you don't want.
hate remembering passwords for different sites? Get this. Integrates in most major web browsers. firefox, chrome, internet explorer (avoid that one). There are free ones like keepass / keepassx but I heard they have integration problems.
11 https://www.privateinternetaccess.com/ - cheap vpn. easy to use. around $3.33 per month when you buy a full year. Top pick of pc magazine and tomshardware. Very reputable.
12 http://ge.tt - online file locker
It's fast, no registration required to use, and you can copy and share the download link before the upload is complete.
13 http://virustotal.com/- online virus scanner. scans your file (archives like zip too) with 57 legit virus scanners, 128 MB file size limit.
14 disposable emails for fast signups. http://www.10minutemail.com/ - everything is done for you but only lasts ten minutes. Can add time extensions. Credit: TheWallClock. Thx.
http://mailinator.com/ - This one requires more work. Type in some random email like [email protected] and check that email at mailinator.com. It's just like an inbox - without any registration or logins. NEVER use this for personal stuff.
15 http://sourceforge.net/projects/pwgen-win/ - hate generating passwords? use it
16 win ht track website copier - kinda glitchy, but servicable. - http://www.httrack.com/page/2/en/index.html
I use this to download entire websites in case they get hacked or close down.
● create new project
● type in project name and (optionally, project category)
● enter base path (eg folder to save files to)
● preferences > load options > pick this "winHTTrack preferences.opt"
These are my default options. Works for most sites. This will do "download website(s)". There are other ways, but this is the most common one.
● enter url full http://www.whateveryouwanttoget.com
Note: I can't get it to work on reddit. Not sure if reddit is hardened against this, program has a problem, or I just goofed up.
submitted by countercom2 to AsianMasculinity

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