AMO ICO Analysis Report (English Version) (2018. 6. 15)

2018-06-18 01:13

AMO is a project to make and run 'AMO Market' where CAR DATA are traded on blockchain network. 

AMO is famous for its planned listing on DAYBIT Exchange which is run by Chain Partners (

Please refer to the attached PDF file below for details.  

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Hello, this is the AMO Team. Thank you for taking an interest in our project, and taking the time to write a review. We certainly want to address the concerns you had in your review. In order to do so, please allow us to address your points. By doing so, we hope to clear up any misunderstanding you may have.

First, here is our feedback to some of the business/industry points that were made.
1. Concerns About Parent Company
According to the financial information supplied by AMO's parent company Penta Security Systems: 1) Penta Security has been investing in R&D human resources form some time now, in response to the company's long-formulated plans of expansion into the IoT and Blockchain space; and 2) AMO has been designated as a separate and independent entity that was started as a result of Penta Security's venture activities. As a company that has been around for over 20 years, Penta Security's financial record needs to be examined for its long-term performance.
2. Concerns About Transparent Use of Funds
AMO's fund management follows closely the legal guidelines of one of the top lawfirms in Singapore, which is where AMO's entity is based. AMO is also working with multinational financial consultants that understand the industry into which we plan to implement our project, a process that requires extensive auditing and advisory services.
3. We Are No Different From Existing Telematics Services
AMO will be an open platform for any kind of car data or service. As such, we are completely different from telematics providers, who work exclusively with automotive suppliers or telematics providers to provide only one type of car data.
4. Isn't Full Cooperation from Automotive Manufacturers Critical?
"In the case of T, this company wanted to develop services like remote control of the vehicle, such as ignition control. Because AMO's data collection will not in any way interefere with the control and operation of the vehicle, and because it will only monitor data that conform to the openly-available CAN protocol, we do not need any assistance from automotive manufacturers/suppliers whatsoever. If AMO wanted to collect data on internal commmunications or on specific parts inside the vehicle, we would certainly need the cooperation of auto makers. Rather than data about the car, however, AMO is more interested in the data relating to the users of that car. We believe that data value is in the users, and not the cars. In order to collect data from current cars immediately, we needed to come up with a way to empower users without depending too heavily on automakers. In the future, however, we plan on expanding our existing relationships with automakers and their top suppliers to collect an even wider variety of data into the AMO Blockchain."
5. Pricing Burden of AMO Data Collector
AMO is currently reviewing a number of different options for distributor the AMO Data Collector. For example, AMO users can take advantage of a subscription model to receive the collector for free, with its costs being deducted from his or her future compensation. Alternately, we can use industry cooperation to bundle the AMO Data collector with a cold wallet. We plan to offer a flexible and practical way for customers to acquire the AMO Data Collector to begin collecting in-car data.
6. Burden of Communication Costs
As state in our whitepaper, users must agree explicity on a mobile platform before any data gets shared. Moreover, all raw data is not uploaded. Only data that is anchored and sampled according to various conditions centered on automotive usage and user location. For a limited amount of data, they will be cached prior to any uploads, and more options will be available once the user connects to wifi. For data that gets dropped due to storage constraints within the mobile device itself, various user options wil be available to manage what data will be shared.
7. Lack of Information on Partners Cooperating on Data Collection
For V2X data, we already have relationships with nine (9) sensor manufacturers in Korea and abroad. We do regret not being able to disclose who they are, since a lot of what we work on with these companies deal with leading-edge technology that is protected by non-disclosure agreements.
8. Concerns that Defining Data Standards for Big Projects Is Difficult
The data you mentioned earlier is applicable to telematics systems' web-based communications standard. These standards must be accepted by industry players and applied for practical use. Until now, standard has been closely protected by automobile manufacturers. In the blockchain and open-sourced space, standards cannot be controlled by a few. Rather, the new standard in this field will be to implement such standards first and share in an open manner so that they can be accessed by as many participants as much as possible. AMO's mission is not conform the requirements of such standards, which not only applies to cars but any other types of data communication devices; rather, one of AMO's goals in its roadmap is to establish car data standards that can be translated into a transaction unit, and keep this informaton open for access to all parties.
9. There is a lot of data. How can it all be put up on the blockchain?
As we mentioned earlier with telecommunications data costs, data collection will be anchored by conditions such as events. In order to deal with the expected large amounts of data, we are designing a blockchain that features Peer Storage-like capabilities.

The following are feedback for the comments you made about the AMO Team.
1. Concurrent Job Duties for Members
Concurrent duties for key members allows AMO to utilize their technological experience and know-how, both key components to the success of the AMO project. All other employees are focusing only on their primary job duties, either for AMO or Penta Security.
2. There is No Executive Presence from Blockchain or Telematics
Since 2007, Penta Security's members have developed and implemented automotive security solutions in real-world highway environments. Furthermore, leadership has more than three years of telematics porting and two years of blockchain experience.
3. Team Members Have No Experience in Blockchain/Telematics/Big Data/Data Marketplace
AMO is made up of members with very diverse experience that includes blockchain, telematics and Big Data. We do concede that there are no members who have worked in the data marketplace. However, the data marketplace in South Korea can currently be characterized as less-than-ideal; because a blockchain-enabled data marketplace is expected to be dramatically different than the traditional data marketplace, we plan to develop and implement new policies for this entirely new marketplace with openess and neutrality.

The following is our feedback to your concerns about our technology.
1. There Is No Technology for Managing a Data Marketplace Platform
Our whitepaper focues primarily on the concept and use cases of the AMO Market. From a technical standpoint, we are currently designing the blockchain and platform architecture, and will release any public information about our design once it has been completed.
First, here is our feedback to some of the business/industry points that were made.
Although the tokens will be distributed via ERC20, they will be converted to coins with the launch of the Mainnet. In terms of opearting the AMO Blockchain, we plan to use DPoS as the Consensus Model.

The following is our feedback to your comments about ICO terms.
1. Corporate Structure of Overseas Foundation is Unclear
AMO Labs was created to develop the AMO Market. The AMO Market will be operated through the creation of the AMO Foundation. The Foundation will be responsible for running the AMO Market with complete transparency, working not only with AMO Labs but with other pertinent participants.
2. The Relationship Between Entity Running the Project and Penta Security is Unclear
AMO Labs, which is developing the AMO Market, is a subsidiary of Penta Security Systems.

Finally, the following is our feedback to your comments on ICO pricing
1. 1.5M Users Will Only Generate 47.5M in Market Capitalization
There are over 22 million cars registered in South Korea, and this numbers is moving past 10 billion vehicles worldwide. Prominent analysts from around the world are predicting that the car generated data market can grow to a market that approaches 500 billion. Currently, it is difficult to predict with any sort of accuracy how many users we can on-board, or how much of this market we plan to hold in the future. However, as we are creating new cooperative relationships with relevant partners in this space, we cannot help but predict a market that is significantly larger than the numbers you provided above.

We sincerely hope that our answers have been helpful to you. Thank you once again for taking the time to review our project. We will continue to devote our efforts to make AMO into a worthwhile project, and we hope to receive your support. If you should have any other questions, please contact Thank you.
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