Proof of Usefulness Report

Bluemyth Technologies Inc.

Analysis completed on 2/26/2026

+35
Proof of Usefulness Score
You're In Business

Bluemyth Technologies (often associated with BlueBox Smart Lockers) is a verifiable entity based in Vancouver with legitimate B2B partnerships (e.g., Tribe Property Technologies). However, the submission quality is critically low. The claim that 'most people have used my product' is demonstrably false and damages credibility. The reported financial metric ('marketcap: 500000') is ambiguous and, if interpreted as revenue or valuation, is concerningly low for a team of 30. While the underlying technology (smart lockers/IoT) has real-world utility, the submission fails to provide valid evidence, resulting in a score reflecting 'Minimal Traction' and data inconsistencies.

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Score Breakdown

Real World Utility+14.00
Audience Reach Impact+3.60
Technical Innovation+4.80
Evidence Of Traction+4.50
Market Timing Relevance+4.80
Functional Completeness+0.25
Subtotal+31.95
Usefulness Multiplierx1.10
Final Score+35

Project Details

Project URL
bluemyth.ca
Description
Bluemyth Technology Inc. was established in Barcelona, Spain in 2018, and after years of development, the market has now expanded from Europe to North America. In 2020 Bluemyth has officially reestablished its headquarters in Vancouver, Canada. Bluemyth is an innovative smart hardware and mobile internet application company that is centered around the IoT platform. At Bluemyth, the company is committed to providing users with smart electronic products and internet services of the highest quality while maintaining cost efficiency and ease to use. Currently, Bluemyth is present in Europe, Asia, and North America. Bluemyth’s mission is to consistently strive to achieve a higher quality of life for Bluemyth users.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline