CashBag
The rapid growth of online services has surpassed all the expectations during the last years, but that’s not the end. The leading market experts suppose that by the year of 2020 daily expenses of the planet’s population on purchases using online services would grow 4 times in comparison with the year of 2016 and would amount 14,6% of the total number of the population’s daily expenses. And even if to consider such forecasts to be too optimistic anyway we can’t but admit the influence of such services on market and its stable growth. Last October the general ploughback of decentralized currencies market was more than 160 billion dollars. Millions of unique wallets of users – this is the beginning of the new currencies era. It is known that tokens gradually become a saving unit for millions of people that live on the planet.
CashBag.co is a unique transactions and cash-back aggregator. Client or system participant gets the reward in the form of cash-back when purchasing on trading platforms that take part in company’s program. Present project’s website exists since the year of 2016 and has succeeded in making a big base of participants – 135 thousand people and more than 500 traders work in with CashBag.co.
Why does the system need a token?
Momentary rewards payments by means of using Ethereum blockchain for payments. There is a variety of advantages from ERC20 tokens sale for express checkout which consists of the decrease of price for handling operations, permanent list of subscription, global coverage and implementation in the mass.
Thanks to system token an advertiser would be able to reward members of the system for the confirmed transactions. Sounds tempting. I.e. a client gets CBC system tokens on the wallet, enters the advertising program and makes fast bargains online. Advertising services can be sold with the help of tokens repurchase. Tokens are earned by the participants that make bargains with traders on the system’s platform.
What does the company plan to make money off?
It is worth noting that CashBag cooperates to the utmost with plenty of traders that have gained worldwide acceptance. Now new users join the system practically every day. Traders that take part in program are ready to provide a small part of their CashBag income from the purchasers that have come with the help of the service.
Thanks to system integration, either network or direct with the traders there is the possibility to inform about any events online and accumulate funds for the participants. The advertisers pay the transaction CashBag income that is based on the percentage of the total sales result received from bargains eased with the help of platform’s possibilities.
Moreover CashBag has a definite profitableness from marketing and advertising possibilities on the website, mobile application and in the toolbox.
A stream of wallet transactions
Various bargains with fiduciary currencies and CashBag go through legislative procedures of KYC and AML. The technologies of CashBag wallet let the cryptocurrency interact simply and legally with fiduciary currencies, along with this you may do it with the wallets of other cryptocurrencies connected with the system.
Android application has already been launched; also there is a Desktop Helper application (works with Firefox, Safari and Chrome). Installing it you may be sure that you would get an automatic warning about money economy which is possible while making purchases.
In the application the user would be able to find the goods he needs along the way. During several months the application has been actively downloaded by the users from RSA, thanks to it a total number of its users has grown to 135 thousand. The following step of application development has been launched, now an active enlargement into the markets of other countries has become, multi-currency support is gradually introducing.
Token
It is planned to release 367 million tokens. The name of the new currency is CBC (or CashBagCoin).
How would the system’s tokens be distributed?
– Stimulation for the participants of CashBag – 170 million;
– Reserve of liquid assets – 65 million;
– expenses on tokens sale – 12 million;
– tokens sale – 120 million.
Pre-sale. During the pre-sale period the bonus of 40% was active, it means that you could purchase 8400 system tokens for one ETH.
ICO. The sales have started on 12 March and should last for at least 30 days. You could purchase 6 thousand new system’s coins for one Ethereum. 12 million CBC tokens would be sold in all. Also during the crowdsale process an impressive bonus program would be active – during the first sales week (from 12 to 19 March) the users could account on the bonus of 20% (7200 tokens for an Ethereum), during the second week (from 19 to 26 March) – 15%, 6900 tokens for an Ethereum, during the third week (from 26 March to 02 April) – 10%, or 6600 tokens for an Ethereum. The last sales week would be held without any bonuses.
How would the collected money be distributed?
– 36% – software development;
– 32% – sales and marketing;
– 11% – operating activity;
– 9% – legal activities;
– 12% – for strategic reserve.
According to the information given in the whitepaper it is known that the collected money would help the team to involve a range of new specialists including:
– 3 professionals in the sphere of intelligent data processing;
– 2 Ethereum implementators (Solidity);
– 3 implementators of user interface;
– 5 platform implementators;
– And 2 UX/UI professionals.
The design of the website is bright and attractive; there is the possibility to sign up here. In the footer there is copyright information according to which the project exists since the year of 2012, this is really good. There is no mini-chat and contact form here but signing up on whitepaper is simple and easy, you would find a necessary button on the first screen. Except Russian the document is in Italian, Arab, Indonesian, English, Vietnamese, French and Turkish. The whitepaper button is conveniently arranged on the website.
The document is available in 8 languages including Russian. It is a very colorful document that takes 23 pages. There are a lot of photos, a wonderful description of sales dates and team description here. You can also find a roadmap here. Only the rewards calculation formula that includes 11 disposal variables is hard to perceive. If you want to take part in project it would be better for you to study the formula in advance.
Team
The information about 8 team members is given in whitepaper and about 10 members is given on the website (2 of them are project advisors). Every team member has a link to LinkedIn profile. You may read the whitepaper and learn a lot of interesting information concerning each team member.
Social networks
By March 6, 2018 there are 1219 subscribers in the official Telegram channel, 1517 subscribers to Twitter account, 8248 subscribers to Facebook account. The bitcointalk profile which is given on the website has only Member level but in the bounties the project program represents an account with the level of Hero Member. In the search engine you can find the project’s ReddIt profile where there is only one subscriber. Also we have found the project’s github profile. Official Youtube channel – not popular, but they have a video on vimeo. It is strange that such an interesting project has so few channels of social feedback and there is no crazy rush in social networks. However this is for the better for project’s bounty participants, in this case a really munificent reward is expected.
Bounty
1.2 million dollars is given to bounties in all. The project primarily bets on signatures in bitcointalk and content, neglecting the majority of channels of social feedback.
How would money given on bounty be distributed?
– 40% (480 thousand dollars) – subscription campaign;
– 30% (360 thousand dollars) – a percent of content;
– 10% (120 thousand dollars) – for transactions and moderations;
– 10% (120 thousand dollars) – reward for the support in Twitter;
– 10% (120 thousand dollars) – a percent of the FB campaign participants.
Roadmap
You may see the team’s roadmap in the whitepaper. Apparently at the turn of the years 2014-2015 the application’s alpha release was worked out and launched. The application launch in RSA took place in the year of 2016 and during the year of 2017 the active workout of architecture of its own token took place. The roadmap finishes after the second quarter of the year of 2019, by that time it is planned to get to the USA market where a debit card would be released.
Conclusion
On icobench website the project has gained the average experts’ regard of 4.0; the result is not bad. The project has a huge potential, it is testified by the presence of the team of professionals, a properly organized website and the clearly written technical documentation. Probably the project would please its investors in mid-term prospective. Our characterization of the project – excellent.
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