Polynetwork ICO Review- Is it a Scam?

[bitcoininvestor]

The Polynetwork ICO is set to go live tomorrow, with many people claiming this could be one of the most successful token sales of the year.

What is Polynetwork?
https://ico.polynetwork.org/signup/danbitcoin1
The new project is aiming to combine 2 of the biggest and fastest growing industries, cryptocurrency and AI/machine learning. By using the blockchain to store data they claim that it can make it far easier for AI to progress.
In their whitepaper they state that they hope to develop AI in deep learning, which many companies such as Facebook and Google are already spending Billions on.

History of Artificial Intelligence

Alan Turing is famous for being one of the first people to discover the capabilities of AI. He designed a machine that was capable of decivering the German Enigma machine during WW2. Since then AI has come a long way with many scientists helping by getting involved in research. More recently huge companies have been entering the market, Google recently purchased the company DeepMind for $400 million. Other companies such as Microsoft and Facebook have also become more involved in the market. It's thought that advertising companies have a great interest in the technology as it can help them to increase the conversion rates of their ads.

The rise of cryptocurrency and ICOs

Cryptocurrency has seen a massive rise during 2017. The total market cap is now over $170 billion, bitcoin still leads the way however other currencies such as Ethereum have grown massively also. Among the market has also been the huge rise in the amount of startups seeking finance through an initial coin offering. Many now see this as a better way to raise funds than more traditional methods, during 2017 $2 billion has already been raised with that figure likely to keep rising over the next few years.

How will Polynetwork work?

The new project will use the blockchain for storage, this offers better security and should work out to be cheaper than other options. They state that they aim to target the machine learning field which companies such as Facebook are also involved in.
https://ico.polynetwork.org/signup/danbitcoin1
Poly AI Token

The new Poly AI Token will run on the Ethereum blockchain. They plan to make use of Ethereum smart contracts to provide a safe and secure environment for their project.

Lending platform

They don't give any details on their lending platform yet but it states in their roadmap that they plan to release one. There's been a huge increase in the amount of lending platforms in the cryptocurrency world recently with Bitconnect going from strength to strength, they initially sold tokens for just $0.5 and are now worth well over $200. More recently other start ups such as Regalcoin have followed suit and made investors 50-100x gains in just a few weeks.


Polynetwork ICO Details

The ICO is scheduled to run from November 1st until the 20th, There will be a total of 5 million tokens available with just 250,000 released each day with the goal of allowing more people to get involved.
The price will initially be set to $1 and will slowly increase as more tokens are sold.

Referral Program

The new platform offers users the chance to get involved with their referral program which they hope to attract new customers with. The system offers 8% of the first level with further inventives on lower levels also. Please note you need to use a referral to sign up to the platform and get activated, use mine below and I'll put you in my tree as soon as possible:
https://ico.polynetwork.org/signup/danbitcoin1

Conclusion

Combining AI with blockchain technology seems like a good idea. However after making a lot of money with Regalcoin and Bitconnect I'm more interested in the release of their lending platform. These types of ICOs are highly risky, however so far the results have been very good so I see it as a great calculated risk.
https://ico.polynetwork.org/signup/danbitcoin1

[CryptoLending101]

Check out the Latest Review of Polynetwork at https://cryptolending.review