Hello Everyone,
This is Satish from India
Today I would like to make review on COSS ICO
The new technologies like AI, Machine learning, Blockchain are creating lot of opportunities to create new solutions for the existing problems arround us. Industries, Entrepreneurs, Start ups are coming with creative ideas by using new technologies to offer a better solution and experience to the people in the world. Especially the growth rate in Blockchain technology is unimaginable. By using this technology the middleman in every area can be completely eliminated, Security measures can be enhanced at very high levels.
In recent days the adoption in Cryptocurrencies by the investors, Entrepreneurs, consumers increasing heavily. Cryptocurrencies offering a better solution than the traditional system in terms of payments, privacy, security, cost and many more. Due to this huge advantage everyone want to involve in the new market evolved with Blockchain technology.
The structure of Cryptocurrency has revealed new approach towards traditional finance system and unveiled new opportunities to Entrepreneurs , industries and startups by adopting them, which are,
Legal and monetary transactions by eliminating middleman.
Money transfers are done in more secure way and it protects completely the user information.
Access to global financial system with any device connected to internet.
Reducing substantially in transaction fee.
Eliminating completely the risk of inflation.
The Advancement in Payment technologies are increasing to offer a seamless experience to consumers. But still they are failing due to fraud and theft of data. The existing financial system is involved with lot of complexity and time consuming. That's all problems cannot be eliminated with any traditional approaches.
At the same time in parallel the requirement to provide a better payment solution is necessary due to huge adoption in E-commerce and Smartphones. In 2015 itself the cashless transactions, on the go payments , mobile payments about to 39% of e- commerce sales in UK. Between 2015 to 2018 the global e-commerce spending is expected to reach 56%. In the US, the mobile payment industry is expected to reach 73% in 2019. With this increase in demand the payment processing organisations need to ensure the security measures and checkout, Payment processing are optimized.
Inspite of huge opportunity in payment system the existing infrastructure is failed to provide a solution and to solve this Cryptocurrency is the one and only option to offer a solution for the payment system. But due to poor adoption in Cryptocurrency still the problem remains. This problem arises due to lack of ease of use, difficult terminologies, fluctuation in prices, Governance are preventing access to average internet user to access the Cryptocurrencies.
To meet this problem COSS platform want to offer a solution to average user as Crypto one stop solution to provide uninterrupted and seamless all Crypto related services in a single place.
COSS Platform is self funded project with already existing following modules.
- Payment Gateway
- A Exchange
- Merchant list
- Market cap ratings
- E wallet
- News feed
COSS platform want to provide an ultimate solution by including every new feature in time by entering into new strategic partnerships, mergers and acquisitions with new Fintech companies those are having creating ideas to reach mass market. COSS has already entered partnership with few companies.
COSS platform want to introduce new feature called Smart contract as a Service (SCaaS) to the businesses to offer an integrated automated solution for their business operations.
The SCaaS includes the following services like
Crowdfunding, peer to peer funding, healthcare, Escrow, Insurance, Voting etc.,
The COSS platform want to become DAO(Decentralised autonomous Organisation) in near future. DAO means a Self governed organisation running with pre determined computer code or programme without any human involvement. With this improvement there will not be any single point of failure. COSS is meant to provide a seamless experience to mass market.
The Principal COSS applications are
The Core application
It contains all management tools for registration, login, password resetPayment Gateway
Merchant tools that helps to integrate
Merchant Cryptocurrency payment in their websops.Exchange
Supports most tradable Cryptocurrencies and allows COSS users to place order and swap funds from deposits in COSS balances.
COSS will have 3 type of wallets to provide full security for the user funds
1.Hot Wallets
These wallets are used only for deposits and withdrawls and for Blockchain transaction confirmations.
2.Warm Wallets
These wallets are used to store the funds who are likely to do trading frequently. No User has access to server directly because the wallets are encrypted.
3.Cold Wallets
The main funds of COSS account holder will be stored in these wallets.
These wallets are stored on air gapped PCs in the COSS office in Singapore.
The Wallets in COSS Platform works as mentioned below
The Payment Gateway in COSS platform works as mentioned below
COSS platform want to create environment for Crypto Industry.
As I already mentioned COSS platform is self funded entirely but due to huge adoption is required in adding new features to the platform it need funding and that will provide new opportunities to the people who contributes in COSS vision.
So, Now COSS want to introduce it's token called COSS Token for Crowdfunding. It is a revenue sharing Cryptocurrency that enables owners to receive revenues from the transaction fee charged by COSS platform.
50% of total Exchange transaction fee (0.2% - 0.04%) and payment gateway fee (0.75%) distributed to COSS token holders.
COSS consists of International team and Advisors from Blockchain, Finance, Software industry and many other industries. The managing board based in Singapore.
The Crowdsale details
The crowdsale starts on August 7th 2017 and it will end on September 6th 2017
No of Tokens available for sale : 130,000,000 COSS
Token rate 1 ETH = 600 COSS
The Bonus Structure
To contribute in Crowdsale visit https://coss.io/ico
To know more about COSS project download whitepaper from https://coss.io/documents/coss-whitepaper-v3.pdf
Bitcointalk Profile link : https://bitcointalk.org/index.php?action=profile;u=978916
Bitcointalk Profile name : Satish147