We are used to a Point of sale (POS) Network that is dominated by big networks such as MasterCard, Visa and Paypal. Every year these networks process transactions that are worth trillions of dollars. Now a project by the name of Camelgram wants to launch an innovative blockchain POS network and a device that will simplify and streamline payment with digital assets among other features. They are launching an initial coin offering (ICO) beginning September 7, 2017 and it will give them the push that is required to get a foothold in the POS segment.
Early Investors get more tokens in Camelgram’s Crowdsale
Camelgram, whose crowdsale will continue for a period of two months (last date is November 6, 2017), will launch a new token called POS. They have plans to launch anywhere between 5 million to 40 million POS tokens. Any investor can buy these tokens but there is a max cap of 1,000 ETH. This limit on purchase of the tokens has been put in so that investors with lesser means also get a fair chance to buy.
During the crowdsale, 50 percent of the tokens would be put on sale. They have kept a reserve of 20 percent for the team and 10 percent for distribution costs. A further provision has been made for emergencies and rainy days, which get a reserve of 20 percent.
Investors, who come in early into the crowdsale will stand to benefit as bonuses have been announced for them.
Distribution of funds
After the crowdsale has been concluded, Camelgram will distribute the funds for various purposes. This will enable them to shift from a proof of concept stage to one geared towards manufacturing and infrastructure roll out. Manufacturing and production will receive a lion’s share of 30 percent from Camelgram as it is a high priority and high expense area for them. Keyhires will also be taken on board using the proceeds of the ICO. In order to better understand the use of funding, please refer to the whitepaper released by them.
Crowdsale an opportunity for investors?
Camelgram is giving investors the chance to seize upon the opportunities present in the crypto-currency field. They are attempting to resolve the problems present in the “last mile”. A successful implementation of the Camelgram solution will make businesses be able to accept multiple digital assets seamlessly as well as receive common currencies. The best feature of the product is that it eliminates credit risk as settlements are made instantaneously. Businesses do not have to wait for cycles of settlement to get access to funds thus freeing them from paucity of cash. Explaining their vision, a Camelgram spokesperson 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 added, “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 has developed a feature rich platform
Camelgram is in the process of launching a platform that is feature rich and combines the possibilities of blockchain with the simplicity of plug and play POS devices. The aim of Camelgram has been to remove complexities and difficulties of the blockchain to lay persons. Features such as “On Chain Delivery” tracking and Post-Sales services would be offered by them. Smart contracts make it possible to offer post-sales services, which are crucial for businesses. However, when it comes to interaction between customers and businesses not much is expected to change. A Camelgram spokesperson reveals, “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.”
Built for the future but ready for now
Camelgram is operating in a field that is filled with big players but their innovative approach is what will carry them through. Solving the last mile digital asset problem is a key solution that has the potential to disrupt the industry. Explaining their vision of the future, Camelgram say, “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 makers may try to imitate but our device + software + service infrastructure should provide superior moat.” With key markets pushing for digital economy like the one in India, the possibilities for POS services will rise. The demand of network and devices in segments such as healthcare, retail and other businesses is set to keep stable or rise in the future and Camelgram is ready.
Disclosure: This is a sponsored article