Camelgram Launches Crowdsale to Build Blockchain-based PoS Network

Camelgram is in the process of building a blockchain-based PoS Network and its crowdsale will fuel development, production and manufacturing.

Photo: Camelgram

Photo: Camelgram

Point of Sale (POS) industry is dominated by large players such as Visa, MasterCard and Paypal. These networks process trillions of dollars worth of transactions each year but the debutant Camelgram wants to establish a firm foothold as well. POS segment is thought to be still growing and the initial coin offering (ICO) to be launched by Camelgram on September 7, 2017 will give it the impetus that it needs to spread its wings.

Camelgram plans not only to launch network based services but will also launch an easy to use plug and play device. It also has plans to launch additional services.

Early Investors Benefit from Camelgram’s Bonuses

Camelgram’s crowdsale will last for two months till November 6, 2017, according to the company’s press release. During the crowdsale a new digital currency called POS will be launched. The plans are to launch between 5 million to 40 million POS tokens. Investors can buy a total of 1,000 ETH worth of POS, the cap on investment has been kept to maintain a level playing fields between investors of larger and smaller means. Camelgram will also provide bonuses to investors who choose to participate early on. The table below illustrates the bonuses available.

Camelgram plans to offer 50% of the total coins during the crowdsale. A reserve of 20% has been earmarked for the Camelgram team while 10% is for distribution costs. Emergencies and rainy days have been provided for by creating a 20 percent pool.

Funds raised during the crowdsale would be spent to develop the platform that they intend to launch. A large segment of the fund has been marked for the development of hardware (Point of Sale machines). After the crowdsale ends, Camelgram will be able to move from proof of concept stage to production and infrastructure roll-out. A high priority has been assigned to manufacturing and production, which will be allocated 30% of the funds. Key-hires will also be made after the ICO concludes.

Does the ICO Present Value for the Investors?

Camelgram crowdsale presents an opportunity for investors that want to invest in a business that is working to address the “Last Mile” problem as far as digital assets are concerned. Camelgram intends to build a POS device and network that will make it easier for businesses to accept a whole array of digital assets, common currencies and settle transactions quicker than they can today.

What is perhaps the cusp of the system is that it will eliminate credit risk for businesses, who in the present have to extend credit to customers before settlement can occur. Talking to us a Camelgram representative explained the value in their crowdsale, “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.” Explaining further Camelgram states, “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.”

The Platform is Feature Rich

The Camelgram platform is feature rich and provides businesses with a number of benefits. They promise to eliminate all the pitfalls and complexities that are involved in the usage of a blockchain and have adopted an easy to use plug and play approach in their system. Further, when it comes to acceptance of digital assets, 5 major assets would be acceptable at the beginning with further customisation available in the future.

There are plans to offer “On Chain Delivery” tracking as well as Post-Sales services, which would be made possible through the usage of smart contracts. However, when it comes to business-customer interactions, there would be a smooth transition. Explaining this, a Camelgram 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 Will Adapt to the Future

While the industry today maybe dominated by giants, there is ample space available for new entrants provided they offer innovation and bring disruptive products and services to the scene. Camelgram are hopeful for the future as they 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.” POS devices are already in use in large scale in developed countries and the potential markets of India and China are opening up to new ways of conducting transactions, with a particular push for digital transactions especially in India.

The future for Camelgram like entrants is likely to rest on quick adoption and fast dissemination of their services in these areas and across diverse fields like healthcare, retail, hospitality etc, as demand will be robust.

Share This article

We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Coinspeaker Ltd.