BCSHOP ICO Review 2018

/BCSHOP ICO Review 2018

BCSHOP ICO Review 2018 2018-07-03T08:37:17+00:00
BCSHOP ICO Review 2018

When we want to buy something whether that means going to a physical or online store, we want fast and quality service without any overly complicated processes. In the world of Blockchain where buying almost anything can be a very complicated procedure, BCShop comes to our rescue. This innovative platform offers a smart-contracted, Ethereum blockchain based service for selling digital products and services to vendors and clients making an online payment with crypto easy.

Important Facts

  • Solving the problem of middleman between service providers, sellers and users
  • Partnership with Law&Trust International
  • Bancor protocol implementation for independent self-sustained token exchange

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The ICO Team

Vladlen Manshin

CEO- Handles team management, project coordination, and marketing. Previously, was CEO of Altay Computer Service. Has eight years of experience in C/C++ programming, project and team management and complex systems formalization and algorithm development.

Oleg Konrakhanov

CTO- He handles backend development, smart contract development, and vendor integration. Previously, he was CTO of Altay Computer Service. 9 years of experience as a software developer, specializing in object-oriented programming languages.

Alexey Kuzmin

Lead Frontend Developer- He got Computer Science degree in 2008. After that, Alexey worked in several software development fields. He has solid experience in C++/C#, database programming and administering, and web development.

Market Research

The BCShop platform is solving the problem of middleman between service providers and users satisfying the demand for lower fees and instant payments. Any market in any country that has allowed the incorporation of blockchain can be reached. Many areas like writers, musicians, artists and practically anyone that sells a service or product can be achieved. Competitors in specific regions have provided solutions, but they are complicated by other tokens and very specific about their market whereas BCShop delivers a more general solution that can be applied to a significant number of different fields making it the first and only on the market.

MVP

The minimal viable product with OTPPAY ICO is the invented supply app in the system. It enables easy creation of digital currency wallet thus a client is able to buy and sell their preferred crypto asset with ease.

Business Model

The platform will issue tokens one-time only with limited quantity and use them for bonuses when paying. Payments will be made with Ether, and small commissions on sales will drive the economics of the platform.

The platform allows complete automation of the trading process by enabling vendors to create sale offers while buyers can make purchases directly using the software. All the information in the whole process is stored on the blockchain. Payments are made in Ether (ETH) hence no special tokens required. The platform targets markets such as game currency, online tutoring, online legal services and online ticket sales.

Potential/Use Cases

It’s extensive use in all markets. It is convenient making users and vendors buy and sell for meager fees, fast and secure. This technology is safeguarded by the blockchain and smart contracts, and it’s user-friendly and easy to use. The ICO technology is the most widespread version of selling products out there. The token will work with the Bancor network, and the app can be adjusted for other blockchains compatibility if needed. It would not work without blockchain. Advantage of blockchain is security, decentralization, low fees, and transparency.

Partnerships

Bancor partnership for token conversion has been first for BCShop. David Drake, the chairman of LDJ Capital a New York City private-equity firm is on the advisory board. Also BCshop partnered with Jury.Online and with Law&Trust International.

Capitalization Potential

The crypto market capitalization passed $400b, and Ethereum went above $40b. ETH based ICO’s on average collect between 20-50m dollars, so BCShop’s ICO target of little over $40m is in the market’s average.

Scamcheck

All team members’ profiles can be found on the BCShop page. Tokens are secured on the blockchain.

Rules, Laws, Tax & Regulations

BCshop.io has an elaborate Terms and Conditions document that sets out the agreements that both the buyer and seller have to agree to. You can get the full pdf document by visiting their official website.

Tokensale

There is a presale (link) happening at the moment that will end on 15 December 2017. Only Ether is accepted with a minimum contribution of 20 ETH, and there is also 50% bonus on the sale covering just 100 contributors. The token enables users to make an exchange for goods and services on the platform. Crowdsale (link) will start on 18 December 2017 and end on 31 January 2018. One BCS token will be worth 0.01 ETH, and there will be a total of 10mln BCS tokens for sale.

  • BCshop finished their ICO succesfully reaching their 2000 ETH hard cap.

Coin Supply/Purpose

There are a total of 10mln BCS tokens:

  • Coin supply will be fixed and premined
  • Tokens will be stored on Bancor network
  • They can be sold or bought on Bancor network (additional exchanges will be announced later on)
  • The tokens enable users to exchange them for goods and services on the platform on a long-term while using the platform. The group chose to add extra alternative for BCS to be utilized on the BCshop platform. Presently, tokens can be utilized by purchasers to get value rebates, as well as also by sellers to lessen the commission considering that it is paid with BCS token.

Compatible Wallets & Exchanges

It’s still not announced in which exchanges the tokens are going to be listed. The tokens will be held on the Bancor network.

  • BCS is an ERC20 token, thus can be stored in any ETH wallet like MyEtherWallet, mist.
  • Crowdsale will start on 18 December 2017 and end on 31 January 2018. One BCS token will be worth 0.01 ETH, and there will be a total of 10mln BCS tokens for sale. Only ETH can be used for buying tokens.
  • Compatible exchanges- EtherDelta.

FAQ

What does this ICO do?

It aims at providing a solution to e-payment problems through a decentralized platform. What problem does it solve?

What problem does it solve?

Makes it easy to handle multiple payment solutions using cryptocurrency technology. What is the capitalization potential?

What is the capitalization potential?

This product has a very high potential of success; it could go on to solve so many real world payment challenges.

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