Vernam ICO (VRN)

Vernam is a project aiming to create a decentralized insurance market in which the biggest insurance companies could participate. Vernam offers an alpha version of its product, containing only one of the multiple functions their product will contain once finished. The project biggest strengths come from its team, it has an experienced CEO, CTOs, dev team, CMO and insurance experts. A strong team such as this has a direct effect on the ICO’s ability to create the designated product from their current alpha. Vernam’s marketing efforts are above average and seem to be receiving the corresponding response from the crypto-community on its different social media pages and Telegram. Vernam is aiming for a competitive market that already contains a few competitors, some even with working products. Varnam has some warning signs to consider. The biggest one is that the majority of its team, including the CTO, doesn’t have the ICO listed as working place or even a past role on their Linkedin pages. This is troubling since there is no way for us to verify that the stated employees in fact work for the ICO. Another concern is its large difference between the soft cap and hard cap, which is 12.5 times larger, and the lack of planning for future regulations in the insurance market.