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Paxtradings Report: Cryptelo

//Paxtradings Report: Cryptelo

What is Cryptelo?

Cryptelo [is] a blockchain-based encryption technology company that provides world-class, security-first data transfer, collaboration, versioning, and storage services.

— Marin Baroš, CEO of Cryptelo

Paxtradings Quick Facts

  1. Encryption-as-a-Service platform for hyper-secure data sharing
  2. 1 ETH = 12,500 CRL = 1 CRL token
  3. March 15, 2018 — August 31, 2018
  4. 20% Pre-ICO & 30% ICO total available / 500,000,000 total supply
  5. A working product which empowers security developers without knowing cryptography

Q&A with Marin Baroš, CEO of Cryptelo

Paxtradings: For those who are not familiar with Cryptelo, can you explain what it is, and what the team aims to accomplish?

Baroš: Our belief is simple — what’s yours is yours. Our mission is to bring top-level security in data sharing to all, and put control of your data in your own hands. We came together to execute this vision in 2014 and together we created Cryptelo, a blockchain-based encryption technology company that provides world-class, security-first data transfer, collaboration, versioning, and storage services.

Unlike a lot of other ICOs we already have a product with paying customers. Our product, Cryptelo Drive is for enterprise customers and our goal with the ICO is to expand globally by building the infrastructure and converting our platform into an open protocol solution. This will empower developers and companies to build top security standards into their applications, without the need for advanced cryptography skills. Boosting the Cryptelo Platform will shift our private technology into a globally available and multi-use case security tool for anyone.

Paxtradings: How does the Cryptelo token (CRL) function within the platform and why is it needed?

Baroš: To make the ecosystem immediately functioning, the existing Cryptelo Drive service will be charged in CRL tokens. Once the Cryptelo Platform is turned into open-protocol source code at the end of 2018, service users will be charged in CRL tokens. Cryptelo Token (CRL, Ethereum ERC20 token) is a native cryptographic project token, which gives participants the right to access multiple services of the Cryptelo Platform.

Paxtradings: We love Cryptelo’s bold concept of a zero-knowledge sharing program. Will you guarantee your team carries zero centralized storage for any part of any user data? If not, which parts does your team have access to and how is it held?

Baroš: We aren’t even able break our own source code. Zero knowledge is at the core of our product and our beliefs.

Paxtradings: Many end-to-end encryption services will ask for access to the address books of their users and/or clients in order to build their user base or community. How does Cryptelo intend to build out their list of potential users without collecting user information?

Baroš: Cryptelo won’t automatically scan users’ contacts as we value privacy the most. Users will have the ability to invite their friends, family, and coworkers if they want.

Users can start or finish with as many connections in the system as they wish. It could be a small private circle of their closest colleagues or wide use with all members of a community.

Paxtradings: Members of the Cryptelo Telegram chat have questioned the apparent lack of blockchain development staff on your team. Will you please be specific and elaborate on the strength of your team from a blockchain programming standpoint and how you intend to grow team intelligence moving forward?

Baroš: We have one of the most brilliant minds in cryptography behind Cryptelo. Leading cryptographer and white hat hacker Dr. Vlastimil Klima has been with us from the beginning. He has 35 years of professional experience as a cryptographer for the Federal Ministry of Defense as part of Czech National Security. His government and commercial projects, include the creation of the world’s first on-the-fly encryption system for Windows 95(../98/NT/2000). Not to mention that he broke SSL security.

There’s myself, CEO Martin Baros — I’ve been in the information security sector for 15 years and have developed multi-platform security applications for mobile banking. We also have the bright young mind of Dite Gashi, our blockchain architect. Dite has successfully built tools that leverage blockchain technology for investors. And our CTO Jiri Zuna has been with us since the inception and creation of the platform. This is a world-class team. Our intent is to grow in size as we take our platform open source.

Paxtradings: We are excited about Cryptelo’s new project, Cryptelo Drive. In your company literature, you describe it as a “cryptographic solution where data cannot be decrypted even if someone physically gets into the server (whether it’s a hacker, an administrator or an owner of Cryptelo Drive).” How would Cryptelo Drive stand up to blockchain’s latest security threats such as NSA-searches and quantum computing?

Baroš: Right now Cryptelo protects data and all metadata associated with it. If you imagine a file being the information you want to protect, we hide the contents of the file, as well as its name, size, and the connection to the directory in which it belongs or who owns it. So if someone were to physically compromise the server, there is nothing that would allow them to recover any of this information.

Paxtradings: Your CEO, Martin Baroš, wrote a thought-provoking piece on protecting data in an era of massive crypto theft where he highlights solutions such as Trezor hardware wallet and Cryptelo Keyring. Please share with us how the Cryptelo Keyring compares in value for your potential clients over other competitive, encrypted security tools.

Baroš: Keyring is a backup for your keys. So it isn’t a substitute for hardware wallets like Trezor. We see it as an added layer of security. We noticed that even savvy crypto buyers tended to keep written copies of their keys. This seems really outdated, not to mention that it’s not secure. Paper can get lost, damaged, destroyed. Cryptelo Keyring a simple solution. And it’s free!

ICO Alert: You’ve stated on your website that 22% of all Cryptelo tokens will go to “Platform Expansion Incentive.” Please describe exactly what this mean and how it benefits Cryptelo users, investors, and clients.

Baroš: In order to deliver great security to your application you have to establish strong know-how and extensive specialized development resources.

We’ll provide easy access to crucial parts of all applications — data and transfer security.

By using our platform you will be able to leverage more than 7 M/Y of development easily.

Expansion tokens are there to help the most interesting projects and get them off the ground. We provide them expansion tokens for free to reduce expenses.

Expansion tokens are meant to ease the integration of new projects with Cryptelo Platform. Users will have a broader selection of apps which support great security from the beginning, not as an after-thought. Platform benefits from availability of more apps with reach, and token holders benefit from wider use and, in the end, the ubiquity of the Cryptelo Platform.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? What does the roadmap look like for 2018?

Baroš: As we mentioned we already have a functional product, Cryptelo Drive, that is built on top of the existing proprietary platform.

We’re working on turning this proprietary platform into a publicly available toolbox that everyone can integrate. Because of world-wide usage we’re leveraging blockchain as the source of truth and the tool to reach consensus among multiple involved parties.

During 2018, we’re going to work on moving our existing platform to blockchain.

The best way to stay updated is to join our telegram or register email in our newsletter at www.cryptelo.com . We hold regular Ask Me Anything sessions, where all questions and detailed discussions are more than welcome. We’re totally open to our community and happy to hear any ideas and suggestions.

ICO Alert: As a non-Cryptelo question we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

Baroš: We fundamentally believe in ICOs and in cryptocurrency. There are two core principles that ground our company. One is a belief in privacy. We believe what’s yours is yours. We like that buying in the crypto space allows everyone to exercise privacy. Just like in secure data sharing, it is about protecting what’s yours. The second founding principle is a belief in democracy. The Cryptelo Platform is all about democratizing access to simple and secure data sharing. ICOs are also about fairness, to some extent, in that you don’t have to be a major Silicon Valley player to go public. Also, anyone can join an ICO, so it is democratic on both ends. We believe both of these spaces will continue to grow as more people participate.

ICO Information

The Pre-ICO began on January 1, 2018 and ended on March 3, 2018. There were a total of 100,000,000 Cryptelo tokens (CRL) available during the Pre-ICO, representing 20% of the total CRL supply. All buyers during the Pre-ICO were awarded a 100% bonus with a minimum purchase of 40 ETH.

The main ICO will begin on March 15, 2018 and will end on August 31, 2018. There are a total of 150,000,000 Cryptelo tokens (CRL) available during the main ICO, representing 30% of the total CRL supply. A hard cap of 12000 ETH is set for this period.

1 ETH = 12,500 CRL

Current accepted currencies for Cryptelo include ETH only.

Cryptelo is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the Cryptelo tokens.

Token Distribution Information

There are a total 500,000,000 CRL tokens being created, with 20% Pre-ICO & 30% ICO available during main ICO.

Contributors will have their tokens distributed shortly after the end of the ICO. Visit the Cryptelo website for more information and the contribution address.

Token Allocation

 

Use of ICO Proceeds

Roadmap

View the Cryptelo website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References

  1. Cryptelo Website, Cryptelo (2018)
  2. Cryptelo Whitepaper, Cryptelo (2018)

www.website.com/whitepaper.pdf

2018-03-10T21:54:31+00:00 March 10th, 2018|Categories: ICOs|

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