IMMLA ICO runs until October 15.
For more than ten years Mikhail is engaged in the international logistics. He was executive vice-president for strategy and staff in the international transport holding Global Transport Investments, where his team developed and implemented staff management system, having increased productivity by 65%, and also carried out the restructuring of the Russian branch of The company. Then Mikhail became a partner and was responsible for the development of the Aistlog group. Since 2016 Mikhail is concentrated on the creation and start up of the IMMLA.
He carries out the selection of the main participants of the consortium, also he is responsible for the interaction of the command managers, the strategy of the project development in the five-year horizon and implementation of professional expertise.
Q: Hi Mikhail, Tell us about yourself.
I’m engaged in international logistics for more than ten years. I was executive vice-president for strategy and human resource management in the multinational holding Global Transport Investments, where my team developed and implemented staff management system, having increased productivity by 65%, and also carried out the restructuring of the Russian branch of The company. Then I became a partner and was responsible for the development of the Aistlog group. Since 2016 I’m fully concentrated on the creation and start up of the IMMLA. I carry out the selection of the main participants of the consortium, also I’m responsible for the interaction of the command managers, the strategy of the project development in the five-year horizon and implementation of professional expertise.
Q: Tell us more about your team! Do they all have background of crypto?
From the very beginning it was clear that such a project is not able to make one company – whether it is a logistics professional, or a global forwarder, or container shipping line, or an IT expert, or a financial corporation. The fact is that in multimodal transport there are too many versatile interests and variables that are extremely difficult to estimate if you are doing one thing. We need a serious helicopter view. Therefore, from the very beginning it became clear that the team should be multi-qualified. Later, the idea arose to create a consortium of several companies that represented their market segment. These companies all together now are working to create IMMLA with the help of external financing . More than 100 negotiations were held with different market participants such as multinational, Russian, foreign. As a result, today’s team was formed, the best, in my opinion, from the possible and most fully reflecting the entire range of multimodal transportation.
Our capable IMMLA team includes five experts in blockchain technology. The rest of our team also have a depth of experience unparalleled by any other company in the industry. In addition to knowing the logistics industry inside out, they have solid skills in a variety of technologies, including p2p networks, skilled in Java, С++, С#, PHP, node.js, Solidity Haskell, Idris, and Rust.
Headed by its executive director, Kirill Tulenev, who brings years of experience gained through his work with global transportation giants, its IT director and co-founder ViacheslavNeunyvakin, who developed Logismart TM, a game-changing automation system for the transportation industry, and me like a founder, IMMLA has captured the world’s attention as the company to watch during the coming years.
World logistic leaders like Hellmann and GTI are members of IMMLA consortium. That gives our project great expertise.
Q: What inspired you to do an ICO?
The core architecture of the project provides the use of tokens as a means of payment. Therefore, on the one hand, the financing model through ICO allows to provide future users of the system with its own currency. On the other hand, the ICO has the best income result for investors in IMMLA. Using traditional financing, we could offer investors double digits percentage IRR. ICO allows to have IRR significantly higher. From the very beginning IMMLA is being created as a corporation. So the market and investors interests for us are in the first place.
Q: How did the idea of IMMLA come about? Is this something you were doing before?
At the end of 2014, the Russian Central Bank unexpectedly devalued the local currency – the ruble, immediately dropping it 2 times. This was a shock to the entire Russian segment of the trade industry, including transportation. T he part of the price that was fixed on contracts in other currencies – dollars, euros, yuan, etc. instantly soared, and many participants in the supply chain went bankrupt. As a result the whole industry was at risk. Naturally, it instantly raised the amount of fraud, and, in general , the market for several months was in panic. At the same time, there was a growing interest in the market for crypto solutions, such as bitcoyne, and the technologies behind them. This is the way how I was acquainted with the blockchain.
At the same period 2013-2014, Uber appeared in Russia, in 2013 in Moscow, in 2014 in St. Petersburg. It became obvious that new technologies, including peer-to-peer, are able to completely change the traditional market, to decrease the level of price of services with a significant increase in their quality.
Thus ,the image of an ideal logistic platform was formed by actual crisis of confidence in the logistics industry, by the success of next – generation Inernet platforms and by the level of security of counterparties that were able to provide block technologies. For a year and a half the idea was finally formed and from February 2016 we’ve started working with partners on the creation of IMMLA.
Q: What is the cap for your ICO and how did you come to choose that number? What do you think of unlimited ICO’s? How much money is too much money to be raised in an ICO?
The soft cap for the ICO is 18 mln IML tokens, it’s around 4,945 ETH. Hard cap is 122 888 ETH. We have a strong correlation within this gap and speed of tokens are issued growth. The maximum level means that we are in 2019 on the biggest logistics market – in China – and tokens have the maximum capitalization per unit. Softcap means both business and token market price are growing the slower way.
The logistics market is one of the biggest one within the global economy. And IMMLA needs only 30-40 mlnusd to achieve 1% of that huge market. We don’t need 4 Bln for getting 100% logistics market, because it’s impossible to be the monopolist on such a big and defragmented global market due to very many reasons. But I can imagine that some businessmen can launch the unlimited ICO with such a goal. I can imagine, but can not believe in that possibility. So I can not imagine the unlimited capacity of any market ever. Even if such a market is ICO.
Q: If you successfully crowd sell with your ICO, where will your company be based?
Now we’re in process of registration of the company in Hong Kong. Regardless of the results of the crowdsale our headquater will be based there.
Q: To what level of scrutiny do you feel ICO’s should be held to?
In the next year or two, the ICO market will be under increasing regulatory pressure, which will contribute to the development of consensus rules for carrying it out and greater security for crypto-investors during this period. Nevertheless, this market will grow, since the applicability of blockchain in many non-sub-economic areas of cryptocurrency circulation is only being revealed. More projects will appear in traditional economic areas as well. However, in the nearest three-four years, we believe that the market correction, associated with the “default obligations,” will occur. This will happen due to the fact that many projects that have gathered investments through ICO in the past years will face a requirement for monetizing their ideas. And not all of them will be able to do it.
Therefore, we expect that there will be a fairly widespread declarations of business insolvency from many and many projects that have grown like mushrooms in the last year or two and are waiting to be start up in the next year or two. This correction will lead to a new wave of regulation, after which the market will enter the phase of its proven consistency and further confident expansion of its principles to all areas of traditional economic activity. Thus, my predictions are rationally optimistic for the mid-term and long-term periods.
Q: Do you have a background in conducting due diligence on crowdfunded projects?
Yes I have such experience, but on academic finance market. We’ve made the IPO when I worked for the FSK-EES Company, one of the largest energy companies of Russia. Due diligence was the main part of the process.
Q: In addition to cybersecurity, what do you feel must be understood when performing due diligence on cryptoprojects?
Proof of team, first of all. If there are the people with the relevant business experience or just the cryptohype-enthusiasts.
Q: What is your “bird’s eye view” of the blockchain industry as a whole. From what you’ve seen, what aspects of token crowdsales could be improved?
We still don’t see the tokenization of real economy. Most of crowdsales are the coin offering for the blockchain community. And the field of opportunities within the real economy is extremely wide. So there is the gap between cryptoentrepreneurship and real entrepreneurship, that’s the main space for improving.
An Exclusive Interview with Mikhail Astakhov, co-founder of IMMLA project. Q: You’re clearly very passionate about the crypto space! Which projects are the most exciting to you?
IMMLA. IMMLA and Cartaxi.
Q: What kind of blockchain projects would you like to see in the future?
Anti-counterfeit goods solussions based on blockchain.
Q: What current proof of concepts has IMMLA completed? What projects are in the pipeline?
On September 10, IMMLA presented Proof of Concept of our platform. It’s available at immla.dev-group.io and shows the work of the IMMLA blockchain. External monitoring of the IMMLA blockchain is available at ethscan.dev-group.io. Also we published a code of PoC on our github account https://github.com/IMMLA/immla.
Just after the ICO we’re planning to develop beta-version and start testing it. The pool of companies for IMMLA testing is growing. So we’re absolutely sure that we’ll get absolutely full-working system by the end of 1Q2018.
Q: What’s in the future for IMMLA?
In 2018 the company plans to have launched its application and have earned Ml$ in revenue. By the end of 2019, it plans to have earned M10$ after it has enhanced its application with air cargo options and custom modules. In 2020, its goal is to localize its services in China and Europe, as well as adding forwarding and warehouse options, resulting in revenue of M25$. In 2021, they hope to earn M50$ in revenue, and in 2022, M100$ through adding a railway module. The gradual growth should attract even more investors, as they see the advantages of such a system for cargo transportation.
Our main market goal is to achieve 1% of the world’s multimodal cargo turnover passing through the IMMLA services. When we talk about these figures in an environment close to the blockchain community or IT industry, in general, these figures do not arouse trembling enthusiasm. But when we share our plans with professionals in the logistics sphere, their eyes pop out in amazement, or climb to their forehead, as it’s figuratively said in a Russian proverb. This is because this is a very, very big figure, especially if you imagine the volume of this market in general.
Q: Have you talked with any exchanges about their interested in enabling trading of your IML tokens?
Now we are in negotiations with large exchanges as Yobit, Bittrex, Livecoing. IML tokens are already quoted on HitBTC.
Thanks for your valuable time Mikhail.
ICO Name: IMMLA project.
Official Website: https://immla.io/
Official Facebook: https://www.facebook.com/immlaio/
Official Twitter: https://twitter.com/IMMLA_io
Official Telegram: https://t.me/immlacommunity
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