A solid project with a great team, impressively regular weekly CEO updates and a ton of milestones achieved since their ICO at the end of 2017. If not for the bear market the WISH token and MyWish services would be very demanded by now. But the crypto winter... arrived and put many great projects in coma. MyWish, unfortunately was not an exception! To date it failed to generate any interest for mass adoption and any ROI for the ICO investors.
But I'd like to highlight why I think MyWish is a great project with a good investment potential especially at today's prices. Unlike most of the other projects in the blockchain sphere, MyWish is a paid community service targeted not just to organizations but first of all to any layman in not so far away decentralized future. We all know by now how blockchain technology made it possible to gift the world with decentralized currencies that carry over financial value without the "middlemen" financial institutions and governments. MyWish, in a similar way, is the very first platform that essentially makes some parts of the system of civil courts, legal and notary public services FULLY OBSOLETE. Before MyWish platform if I were to borrow money from you for a certain percent of return we would have to meet, discuss the conditions and terms, go to a lawyer and notary public to create a contract, sign and stamp it. The lawyer would ask for a fee. And there would still be no guarantee that the contract would not have been forged by a corrupt lawyer and it's one of the reasons there is frequently a whole new legal process starting when the legal contract matures to its term. MyWish replaces the lawyers and notary public with a very convenient and independent (decentralized + incorruptible) platform: they currently offer a web based very easy to use portal - to go and create a contract with your own terms and conditions, send that contract to the other party electronically, the other party reviews and agrees with it, you review and agree with it (all within the convinient webb interface) and a contract on blockchain platform is then set in motion.
MyWish is a business and charges a fee for this and many other smart contract based convinient services on Etherium, Bitcoin, NEO, EOS and recently TRON blockchain platforms. A reasonable fee - for a 3 year contract they currently set price to about 15 USD. The money are split in a few parts for different needs - 50% goes to MyWish company as the payment for their service, about 15% goes to pay for gas and other technical logistics of creating smart contract and the remaining 35% goes into contract execution by the means of payment to MyWish platform "miners" who act as the "validators" of the terms of the contract (for example one of the term could be that the contract should be annulled after 3 years, the other term could be that if a pre-defined cryptowallet hasn't been used for 6 months - transfer all cryptocurrencies from it in certain ratios to other pre-defined cryptowallets, etc.).
And now are the two most important parts of MyWish service:
1) the payments for smart contract services are made only in WISH tokens
2) the 35% of the payment made is reserved for gradual use for the duration of the contract (in order to pay "miners-validators" for contract delayed logistics execution).
That second point is a crucial one: unlike the case with the most successful cryptocurrencies or utility tokens like Bitcoin, Etherium or Neblio whose growth was primarily attributed to a very limited supply and very slow new coin emission rates, in case of MyWish all coins are already pre-mined as part of the ICO (19.8 mln tokens) and as more and more people and companies start using MyWish platform for a variety of convenient and economical day-to-day use-cases (prenaps, wills, custom business contracts, crowdsale and airdrop contracts, lost private keys and other contracts) in slow changing, but hopefully one day widespread cryptocurrency adopted modern world, the more people and companies start using the service paying for it in WISH tokens - the more smart contracts of various duration are created and the more of 35% of the total service payments made are sent to the slow burner for that gradual use
over the terms of the contracts. That means that the 19.8 mln supply of WISH tokens will not only never increase it will start decreasing as more people and companies start using the service and create long-term contracts.
If, for example, I put a contract for my newborn child that upon his school graduation I want certain amount of my crypto assets be transferred to his college fund wallet - I will put the term on that contract to be 18 years, the $15 or other sum I pay for the contract in WISH tokens: the 35% of that amount will be hold to be spent very gradually for over 18 years. Those tokens will eventually return into the circulating supply over the next 18 years but they are essentially taken away from the circulation for 18 years due to a very gradual release back into itn.
So besides the unique service MyWISH provides (there is no other company that offers the same in 2019) - the way they planned to use WISH token will make the token to become less and less available as more contracts get created by more and more users.
And the potential users of MyWish platform are all over the globe. EVERY human's interactions, EVERY company's function are based on some type of agreements between 2 and more parties. MyWish essentially makes this service very affordable and very easy to use. This is why MyWish tokens will possibly be very valuable by 2024-2028 (prenaps, wills, business contracts, lost private keys, etc.), 5-10 years from now. It's impossible to put a precise long-term value on WISH tokens but there is a great potential for growth. It might end up being Bitcoin on steroids:
- the same exact very limited supply, but NO EMISSION of new coins - BETTER than bitcoin;
- actual significant deflation of the free coins on the market (as 35% of the coins being HOLD for execution of the contracts) - BETTER than bitcoin.
And another important point: the way the company integrated their service (decentralized) - once the contract is created - it will exist independently until its term is over even if MyWish ceases to exist as a company.
So let's stop and think about the potential for 2017 ICO investor let alone the investor buying WISH tokens in early 2019, at pretty much buttom most prices. What will happen when people start realizing benefits of MyWish platform and start using it?
All the details above will take some people possibly months and years to realize but the more people start realizing the logistics of MyWish platform the more of them will become the investors holding WISH tokens - creating similar demand and supply ratio that attributed to the incredible price action of Bitcoin.