Point of Sale (POS) have evolved from cash registers to computerised networks that can handle complex transactions. This is a growing segment and one that Camelgram wants to take advantage of by launching an initial coin offering (ICO). Camelgram will develop a network and device solution that will not only process transactions but also provide additional services. Paypal, Visa and MasterCard are some of the existing competition that operate in this field and process transactions worth trillions of dollars each year.
Additional tokens for early investors
The crowdsale is set to begin on September 7, 2017 and will continue for two months till November 6, 2017. A new cryptocurrency called POS will be launched. 5 million to 40 million POS tokens will be issued during the ICO crowdsale. The smallest unit of the POS token is called a “Pin” and is equal to 0.0000000001 POS. Investors can buy a maximum of 1,000 ETH (or equivalent) worth of tokens in the crowdsale. This limit has been put in place to make the sale fairer to investors of all means. Half of the total token pool would be offered for the crowdsale, the rest of the 20 percent has been kept for the team, while 10 per cent is reserved for distribution cost. A part of the pool (20 per cent) is reserved for emergencies and non-profit community related initiatives.
A bonus system is in place to benefit early investors.
The funds that Camelgram gathers in the crowdsale will be used to develop the platform. They will also utilise these funds for the design and production of Point of Sale (POS) hardware. As the crowdsale ends, the next phase would involve moving from proof of concept to infrastructure roll-out as well as production. Since manufacturing and production need a lot of money, there is a 30 per cent budget earmarked for that. Key hires can be taken on-board after the crowdsale as well. The chart below shows fund distribution post-ICO.
Why Is Camelgram’s Crowdsale Important?
Camelgram crowdsale presents value to the investors because they are engaged in eliminating the “Last Mile” problem for digital assets. They intend to harness the power of the blockchain to put it together a POS device. This would help businesses accept a multitude of currencies, digital assets and settle transactions faster by completely abolishing holding risks. A Camelgram representative tells us, “Investment Great, Peter Lynch, identified mature market meeting disruptive technological breakthroughs as presenting the most exciting opportunity. Market demand exists and customers understand the value brought by new solutions. Distribution and marketing infrastructure are readily available.” They further elaborated, “Such is the case for Camelgram blockchain POS network. The new breakthrough serves receptive customers with faster, cheaper solution and drastically improve business with much better cash flow profile.”
Camelgram will enable businesses to receive funds as soon as the transaction is made and that will be a great attraction since at the moment they have to extend credit to their customers. Waiting for settlement opens its own can of worms as many businesses can fall victim to fraud or suffer because they can’t access their cash instantaneously.
Camelgram platform comes with many features
Not only does Camelgram offer network service and a POS device, it also bundles in ease of use and eliminates all complexity that comes with using a blockchain based solution. They have adopted a plug and play approach and will offer to transact in the 5 most popular digital assets from the get-go. There are also plans afoot to offer customised solutions in the future as well. Camelgram also plans to offer “On-Chain Delivery Tracking”, which would allow businesses to make transactions more traceable. Smart Contracts feature enables Camelgram to also automate Post-sales services. In order to better understand how Camelgram affects the business-client dynamic, we asked a Camelgram spokesman about the implications of their offering. They tell us, “There will be little change in relationships because we aim for transparent transition. Also we aim for big ticket, mid frequency travel industry first as reversal of cash flow profile impact their business most significantly.”
Camelgram is future ready
At the moment the payment networks industry is dominated by large participants, however the landscape is growing and there is potential for new entrants. Devices are already being used across many sectors like retail, hospitality, healthcare etc. Emerging economies like India and China are big markets where opportunities await. Camelgram expressed optimism about how they intend to break into the scene, “The initial pushback might come from additional counter space and incremental cost, however we can overcome by showing new POS device addresses new customer segments previously unreachable. Existing POS equipment maker may try to imitate but our device + software + service infrastructure should provide superior moat.”
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