Cashaa ICO Overview.
Presale Date: Over.
Public sale Date: 6th November 2017 to 5th Dec.
Cashaa is a gateway to consumer-centric and affordable financial products aimed at consumer adoption of Blockchain without having to understand the technical details of Blockchain technology. Cashaa’s wallet system, integrated with the peer to peer exchange with full spectrum of fully digital financial services, enables its community to save, spend, borrow and get insured, with a simplified user experience in a legally compliant way.
Problems being solved:
- Transferring money for remittance, money lending across international borders is still very complicated, time consuming and expensive. Existing systems running on traditional banking channels are slow and full of intermediaries, higher exchange rates, counter-party risks, bureaucracy and extensive paperwork.
- Consumers and businesses are struggling to leverage the benefits of the blockchain infrastructure due to poor usability, non-customer centric approach and improper legal implementation.
- Current attempts by others to provide blockchain based solutions lack the workflow needs of small and medium sized enterprises, and the applications are not addressing the average consumer’s issues and not providing legally compliant solutions to their users.
How it works.
Cashaa is aimed at consumer adoption of Blockchain without having to understand the technical details of Blockchain technology. For example, let’s say a money sender puts a request on the platform to transfer £1000 from London to New Delhi. Based on the FX and proprietary algorithm Cashaa calculates the best possible rates and gives the users e.g. INR 84,000. Cashaa immediately splits the lead into two parts where all crypto traders in London get notified and see on the platform that they have an option to receive £1000 for X BTC. In the same way, buyers will see their option to buy Y BTC by paying INR 84,000. To accept the deal the seller has to put 100% of X BTC into a uniquely created escrow wallet, while the buyer has to put 10% of Y BTC into the escrow. The system generates two passcodes which are used by the money sender and seller in London & buyer and receiver in New Delhi to verify themselves respectively.
- Payment providers.
CAS token uses.
- Access to premium services such as Higher FX transfer limit, ATM withdrawals, transfer and exchange an unlimited amount of money.
- Token holders can give loans and have access instant loans at low interest rates compared to non-token holders.
- The accumulation of CAS tokens improves credit scores of low credit rated individuals and small businesses.
- Only traders with enough CAS can participate in the trading network and are entitled to create smart contracts for trading.
- Governing voting system is another objective of the CAS token, Stake holders will be able to govern the smart contract updates etc.
Review/ICO Scoring Metrics.
Existing companies: LocalBitcoins, Western Union
Level of competition: Very high
How is it different from other projects in the space?
- Focused on remittances.
- Uses developed infrastructure from companies such as Auxledger.
- Enables crypto to fiat exchange.
Difference scale: Normal
Securities Token: No. It’s a utility token.
Buyback and burn: No
Market dynamics: There are 2.5 billion unbanked and 1 billion underbanked people globally; Global micro and SME finance markets are growing by an average of 10-15%; while the highest growth rate is expected in Asia Pacific, driven by developments in India and strong growth in the region;
Use cases: p2p exchange, buying/selling crypto, p2p micro lending, crowdfunding, p2p insurance
Regulatory risks: Not a securities token; Cashaa Holding is an Estonian entity operating under Estonian law.
Members with past experience in this industry: 1
Members who are past company CEOs/Founders: 4
Members with technical experience: 2
Members with previous blockchain experience or experience building an open source community or platform on a large scale: 3
Advisors from other blockchain projects: 2
Advisors with past experience in this industry: 4
Advisors with technical experience: 1
Advisors who are company CEOs/Founders: 2
Advisors with previous blockchain experience or experience building an open source community or platform on a large scale: 2
Popular advisors: Richard Kastelein
Any previous activity related to the project: Cashaa was founded in 2016, and have ranked as a Top 100 Most Influential Blockchain Companies in the world.
Partners: Cashaa has teamed up with various organizations to leverage their pre-existing work:
- Agrello Foundation for its Al based self-aware contract capabilities. Agrello works towards creating legally binding self-aware contracts based on blockchain. Cashaa sees the opportunity for utilizing these for efficiency gains in decentralized trading and microfinancing where the cost of engaging into a business relationship and writing agreements is high compared to the transaction value. Agrello self-aware contracts combined with Agrello identity and digital signature enable fast and secure contract conclusion.
- Auxledger for its robust infrastructure which has already on boarded 53 million identities and other enterprise infrastructures that would help to scale faster with the built-in capabilities of disrupting businesses and impacting millions of people across the globe. Cashaa uses AuxLedger for the identity management, compliance and banking integration.
- Coinfirm which provides data that puts entities on the safe side in terms of regulatory and fraud risk related with cryptocurrencies.
- Qtum which combines uniquely Bitcoin functionality with the EVM in that it allows to use the UTXO protocol together with SPV so that it is possible to work only with the headers of transactions. Differently to Ethereum, this allows for the use of lite wallets that also run on mobile devices. Cashaa can leverage the Qtum smart-contract system by developing mobile apps and also having a performing and scalable PoS platform.
VC funding: Celestial holdings, 2F Capital
Actual alpha, beta etc. available on website: No. But they claim their beta version has been widely tested.
Token expected usage date: Q1 2018
Working product: Q1 2018
Roadmap ends: Q4 2019
- Blockchain leverages.
GitHub presence: None
Smart contracts: Yes
Removal of third parties: Yes
Any centralization aspect: They plan to use bank accounts along the remittance process.
- ICO Structure.
Bitcoin talk pages: 7
Bitcoin talk interactiveness: Normal
Presale absent: No
Whitelist absent: Yes
Bonus for whales absent: No
Bonus for early participants absent: No
No Registration required: No. KYC verification required
Token scarcity: 1 Billion CAS; Unsold tokens are burnt
Lock-up: Bonus tokens locked till 5th March 2018; Company tokens, tokens assigned to team and advisors as well as for the community and entrepreneur initiatives are released over a 4 years vesting period with a 12 months cliff.
Presale token percentage: N/A
Token price: $0.1 with up to 100% bonus
Presale Hard cap amount: $20M
Presale Soft cap amount: N/A
Presale progress: N/A
Public sale token percentage: 51% (Inclusive of presale)
Token price: $0.1
Total ICO hard cap amount: $32M
Total ICO Soft cap amount: $2.5M
Total ICO Progress: $5.92M raised so far. 25% of tokens sold.
ICO Timeframe 1 month: Yes.
No ICO extensions: ICO running
Minimum amount: $15k for presale, $30 for public sale
Individual cap: $3M for presale, $3000 for public sale only on day one
Limitations: Non-accredited US.
Smart contracts already audited: N/A
Escrow: Multi-sig escrow
Get the overall score of this ICO as well as other ICOs here