What is the Dream ICO?
And should you invest in their blockchain hiring platform?
This coin review analyses everything you need to know about Dream:
We’ll run through what could impact the Dream ICO price.
Plus you’ll get a detailed analysis behind what Dream token is trying to achieve.
So let’s begin.
1. What Is The Dream ICO About?
So what is Dream’s mission?
Basically, they’re a hiring platform designed to help companies quickly assemble teams for their blockchain projects.
Hiring the right talent is a critical part of any project:
But it’s one of the toughest elements to master.
- Where’s the best place to hire a blockchain team?
- How do you quickly scale up your recruitment process?
- Do you have the resources to validate someone’s experience, references and qualifications?
- And do you know what types of personalities you need in your team?
The above recruitment factors are difficult to assess, yet they make a huge difference.
And that’s where the Dream ICO comes in.
1.1. Dream ICO Overview
You can see details of the Dream ICO token sale in the pictures below.
Their ICO tokens will be created via Ethereum’s blockchain.
There’s also going to be a bulk reward system:
So the more Dream tokens you buy, the higher the discount you’ll receive.
This incentivises investors to spend more on the project.
1.2. Recruiting Talent For Your Projects
Dream is creating a blockchain based network where you can quickly find the best teams for your project.
But not only that:
They’re creating a platform where with machine based learning, you’ll be able to find the perfect team tailored to your specific needs.
And this will include a trust based rating system:
So after being validated by their AI software, you’ll have a more objective way of validating someone’s experience.
The Dream ICO also presents an opportunity for those in the project management industry:
As a project manager, you’re constantly on the lookout for new recruits, but that takes time.
Whereas with Dream, you don’t need to spend such a frustrating amount of time on recruitment.
Instead, you’ll have an easy way to scale up your projects.
Also, this is a useful way to skip the arduous merry go-round of interviews:
Because with Dream’s blockchain platform, you’re not interviewing hundreds of people on a one to one basis.
Instead, you’re scaling up by recruiting the whole team at once:
Rather than searching for each member individually.
1.3. Why Is The ICO Token Named Dream?
So it’s a little cheesy, but their brand is targeting ‘dreamers’ in the blockchain industry.
If you look back at some of the most successful entrepreneurs, they all started off with a vision.
Bill Gates’ mission was to have ‘a computer on every desk, running Microsoft in every home.’
But the biggest point of failure for most companies is recruitment.
It’s such a hard skill to master.
And if you’re an entrepreneur with a big idea but little knowledge of where to get started, recruitment is particularly tough.
So the Dream ICO is trying to help entrepreneurs quickly launch their ideas to market, without getting stuck on the recruitment process.
1.4. The Dream ICO Team
So the Dream ICO is actually a rebrand of Moneo.
They’ll be using the same payment system, platform and intellectual property.
In their whitepaper, Dream explain that Moneo is already one of the biggest platforms in the world for hiring blockchain talent.
That means Dream already have:
- Millions of dollars in assets
- An existing client base and community
- Thousands of transactions and hires on the platform
- Access to a vast supply of talented blockchain freelancers
That’s a great start for the project, and means they’re not beginning from scratch.
Their team already has the experience and expertise to launch an ICO too, which is a positive sign.
2. What Problem Does The Dream ICO Solve?
Did you know that most projects fail?
In fact, 68% of projects just don’t make the cut.
And if you analyse the blockchain space, you’ll discover that most ICOs are completely abandoned.
But why is that?
2.1. Attracting Talent
First of all, a project usually lives and dies by the people working on it.
So you need to recruit the best developers.
Recruitment isn’t easy, and it’s hard to attract the top talent.
That’s especially true in the startup world:
Where highly skilled freelancers and contractors just won’t work for unproven companies most of the time.
Plus, hiring is an expensive, time consuming process:
Sifting out the best talent on the market takes a lot of time.
That’s one of the reasons why there’s hundreds of thousands of recruitment agencies around the world.
And if you’re a relatively new startup project, you probably don’t have the resources to pay expensive recruiters.
So this creates a vicious cycle:
Where most projects fail because they can’t attract the right people.
2.2. Saving Time
The other problem is that if you’re recruiting, the whole process takes time:
You’ve got to:
- Understand the scope of your project
- Search the market
- Attract the right type of talent
- Map out the skills you’re looking for
- Assess someone’s personality and technical skills
- Figure out the right salary to pay
- Interview one to one
So if you’re a new project with limited resources, this isn’t a scalable process.
2.3. Trust & Credibility
Also, assessing credibility is tricky.
If you’re recruiting blockchain developers for example, it’s hard to understand whether someone’s got the skills you need to program your project.
Sure, you can setup a test:
But do you have the technical knowledge to really identify a blockchain developer’s strengths/weakness?
And can you verify whether someone’s really got the experience and qualifications they say they do?
These are variables that rely on trust:
And sometimes, that trust gets taken advantage of.
Just look at one of the former CEOs of Yahoo:
He lied on his CV, and got away with it at the very top level for a long time.
When it comes to running a project, experience counts.
But what happens when you don’t have any experience?
So many new entrepreneurs are entering the blockchain space for the first time.
Yet whilst they might have some amazing ideas, most don’t know how to run a software project.
The blockchain industry is still just emerging, most people don’t know how to run a project.
But they can come up with the ideas.
Plus if you’re not careful, costs can quickly spiral out of control.
So Dream have created a team hiring platform that’s ‘noob friendly’.
And when you first join the platform, their software will help you:
- Break down your project into bitesize steps
- Manage your task list
- Recommend teams with skills specifically tailored to your project
- Connect with advisors who can help you manage the potential challenges you might face
3. How Does The Dream ICO Token Work?
So Dream is the overall network, but they’ve built different applications built within it.
This creates an ecosystem:
Where the Dream token is used as currency to hire teams of blockchain freelancers.
When client’s use the platform, they deposit cryptocurrency into an escrow fund.
Once a project’s complete, the funds are released from escrow and the freelancers get paid in Dream tokens.
So how does it work?
Let’s take a look at each of their applications.
3.1. Dream Builder
First of all, clients will outline what they’re trying to achieve.
Dream’s artificial intelligence algorithm asks the client certain questions, assessing the best talent and team to fit their project.
This is all done within Dream Builder.
It’s like a virtual Project Manager.
The Dream Builder will:
- Create an actionable list of steps to build your project
- Match and recruit the team best suited to your specific needs
- Advise on the size of the team you realistically need
- Factor in what you’re trying to achieve, how big your company is and your overall resources
- Work out the complexity of the functionality you require
- Advise whether your team members have worked together before
- Map out the whole process from start to finish
3.2. Dream Reputation
They’ll also have a rating system for each of the blockchain’s developers:
It’s similar to the UpWork rating system, where you can see client feedback from a freelancer’s previous projects.
This establishes a level of trust within the system.
Plus freelancers will have to provide proof of their identity before they can be hired.
This adds more credibility to the platform, because you know the team you’re hiring has been vetted beforehand.
There will also be partners to verify a freelancer’s qualifications.
So for example:
A university student’s academic results can be verified inside of the Dream ecosystem.
3.3. Dream Token
Dream token is the actual currency used within the Dream ecosystem.
It’s at the center of every transaction.
Clients won’t need an exchange to purchase Dream tokens – so it cuts out the middleman and allows you to pay directly with fiat.
And the more the platform grows, the more each token is going to be worth.
3.4. AI Learning
The algorithm behind Dream’s platform is constantly learning and adapting.
So for example:
It’ll compare your project vs similar projects it’s hosted in the past.
Then you’ll be connected with team’s who have experience managing projects like yours.
It’ll also help you with budgeting the project too:
So you’ll be advised whether you should pay a fixed price or per hour, depending on the scope of your project.
3.5. Crowdfunding Your Own ICO With Dream
If you’re a client on Dream, you can take the success of your own project to other crowdfunding platforms.
You’ve just built your own cryptocurrency after hiring a team from Dream’s network of freelancers.
You’ve built the project.
You’ve tested it.
And maybe you’ve got some great feedback along the way.
So now you’re ready to launch an ICO.
Well, you can take all of the data from Dream, export it and validate this data to raise funds on similar platforms.
It’d be like a badge of approval from Dream’s platform.
So in a world where investors are becoming more and more critical of ICOs, you have an extra layer of credibility to highlight your project.
This could be a useful way to build your blockchain project’s trust and reputation.
3.6. Rewards & Gamification
The Artificial Intelligence system on Dream’s platform will require training.
So clients can become trainers too.
These experts will be handpicked customers, who have plenty of experience in managing blockchain projects themselves.
And the more the system is trained by it’s clients, the more clients will actually benefit as a result.
Because the system adapts to become smarter, more efficient and more effective.
And therefore clients will save more money and time as their AI gets smarter.
But why would clients spend their own time training the system?
Well, Dream ICO tokens will be used to gamify and reward trainers:
So if you (as a client) train the AI software, you’ll be rewarded in Dream tokens for your effort.
And there will be an overall leaderboard:
So the more training you complete, the higher up the rankings you’ll go.
It’s an interesting way to build up the community’s engagement levels, playing on their user’s competitive nature.
Plus the more tokens a client gains, the more likely they are to become brand loyal to the Dream ecosystem.
4. Dream ICO Vs Competitors
The Dream ICO is far from the first platform to create a way to hire freelancers online.
Competitors like UpWork and Fiverr are already very successful.
And I will say that UpWork:
- Is worth millions of dollars already
- They already have an established audience
- Plus UpWork has huge brand recognition
- Also, their community is very active
(I actually noticed that the user interface of Dream looks very similar to UpWork.)
So what makes this technology unique?
Well if you look at platforms like UpWork for example, it’s a very centralized model.
If you want to hire a freelancer, you have to go through their platform.
Otherwise you’ll get your account banned.
And this creates problems with centralization because:
- You get charged for payment fees
- Your freelancer has to pay 20% to UpWork in commissions
- Your team therefore has to charge you 20% extra to compensate
- The UpWork system can be ‘gamed’ – with fake reviews and testimonials
- You succeed and fail by UpWork’s rules – they’re the centralized authority
Whereas Dream isn’t so closed off or centralized.
And you can hire a full team in one go, rather than hiring individually like on platforms such as Fiverr and UpWork.
Plus it’s aiming to be a bit more user friendly:
You simply state the project you’re creating, what you’re trying to achieve and with their blockchain algorithm, Dream supplies you with the team.
Also, Dream’s network is powered by Artificial Intelligence.
As the AI system gains more experience and exposure to different blockchain related projects, it’ll become smarter.
So it could be a slow start for Dream.
But in the future, Dream might become a smarter and more efficient platform than UpWork for hiring.
Finally, UpWork isn’t specifically designed for blockchain related projects:
Whereas Dream has niched down to the cryptocurrency space.
Dream is creating a bank of top-calibre, highly skilled freelancers.
So unlike a big chunk of existing platforms, we’re not talking about freelancers charging $3 an hour here.
That’s a serious competitive advantage.
Because they’re more suited to the type of specific functionality, talent and project management skills required by blockchain entrepreneurs.
5. Is The Dream ICO A Good Investment?
5.1. The Demand For Blockchain Talent
Let’s talk about the blockchain:
There have been thousands of ICOs launched.
In fact, there’s 100+ created per month.
And if some experts are right then the trend for creating decentralized apps is only going to continue.
Just like the millions of websites out there, there could also be millions of blockchain projects in the future too.
So that creates the need to hire blockchain talent.
But with so many projects, there’s going to be a shortage of highly qualified blockchain developers.
Just look at the lack of developers in general:
They’re some of the most in demand professionals in the world.
So hiring talented blockchain professionals is going to be an even bigger challenge:
The supply of developers isn’t quite matching their demand.
And this is exactly what the Dream ICO sets out to support.
Dream’s ICO will create a blockchain powered talent bank, where project managers can go online and recruit developers.
6. Is The Dream ICO A Bad Investment?
The recruitment space is crowded.
- Millions of payments
- Thousands of freelancers
- And plenty of high paying clients
The Dream ICO is operating in a highly competitive field that’s going to be difficult to conquer.
6.2. Does The Dream ICO Benefit It’s Users?
If existing fiat based platforms already have working platforms, why does Dream need to create a blockchain based token?
Ok sure, they’re trying to create an ecosystem.
And that profits their company, helping them to build a brand.
But how the Dream ICO help it’s end users?
And why not just use cash?
I can’t see the purpose of having a cryptocurrency for this project.
6.3. Unproven Technology
The other problem is that because the Dream ICO is funding a blockchain based project:
It’s success relies on emerging technology.
Now if you’re creating a platform that’s highly experimental, then blockchain technology is perfect.
But if you’re trying to:
- Take market share from a highly competitive market
- And you’re using a technology that quite often struggles with scalability
Then you’re taking a massive gamble.
Why would enterprises choose a proven platform like UpWork vs an unproven technology like Dream?
It’s a risk their potential clients don’t have to take.
6.4. Recruitment Industry Saturation
Also, there are thousands of recruitment businesses already.
Most of them already have:
- Established talent networks
- Happy clients
- And a stronghold on their local area
So how can the Dream ICO overcome this?
Really they’re just starting out, whilst trying to compete with very established, resourceful companies.
It’s not like the recruitment industry is just emerging.
9,000 recruitment agencies are created every year in the UK alone.
Recruitment competition is fierce and the problem is, landing clients usually relies on close, trust based partnerships.