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Camelgram to Develop Blockchain-based Point of Sale Network


Point of Sale (POS) solutions have grown from simple cash register-like machines to complex computerised networks that can provide a whole range of services.

Point of Sale (POS) solutions have grown from simple cash register-like machines to complex computerised networks that can provide a whole range of services.

Camelgram have launched an initial coin offering (ICO) that aims to develop a Blockchain-based POS network and device solution that would take advantage of this growing segment, in which existing networks like Paypal, Visa, MasterCard and others already operate and process transactions to the tune of trillions of dollars each year.

Early investors in Camelgram will get additional tokens

The Camelgram ICO crowdsale will begin on Sept. 7, 2017 and lasts for two months. They are launching a token called POS. There will be between five to 40 million POS tokens issued during the crowdsale, which concludes Nov. 6, 2017.

The smallest unit of the POS token is called a “pin”, and is equal to 0.0000000001 POS. The maximum each party can exchange has been limited to 1,000 ETH (or equivalent) so that the sale is fair to investors with ‘lesser means’. 50 percent of the POS token pool will be offered for the crowdsale, while 20 percent of the pool is reserved for the team.

10 percent has been earmarked for distribution costs, and there’s 20 percent being kept in reserve for rainy days and non-profit community initiatives.

There is also an early bird bonus model in place for investors who choose to participate early on.

Chart

Source: Camelgram

Fund Utilisation post-ICO

Camelgram intends to use the funds that it gathers towards the development of the Camelgram platform, as well as a Point Of Sale (POS) device. This will enable them to move from a proof of concept stage to production and infrastructure roll-out.

The ICO proceeds will also help in the acquisition of key-hires.  

Manufacturing and distribution can be capital intensive, as they have set 30 percent of the budget aside for that. The full budget distribution can be gauged by this pie chart:

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Chart 2

Source: Camelgram

Does the crowdsale bring value to investors?

So does this ICO present value to investors? Camelgram is solving the “last mile” problem for digital assets and brings an interesting mix of a Blockchain network and Point of Sale (POS) device to life.

With Camelgram, businesses would be able to accept a variety of digital assets, settle transactions quickly to eliminate holding risks, and receive common currencies.

We asked a Camelgram spokesperson how their ICO brings value to investors and this is what they had to say:

“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 the Camelgram Blockchain POS network. The new breakthrough serves receptive customers with a faster, cheaper solution, and drastically improves business with a much better cash flow profile.”

The main draw of Camelgram is its ability to receive funds as soon as they complete the sale, instead of waiting for days to settle as is the case with existing rival services.

Businesses are at the moment extending credit to customers, and can become victims of chargeback fraud and suffer disruption in cash flows.

Camelgram platform is feature rich

Camelgram is offering a conjunction of network service and a physical POS device. The device itself would be easy to use and eliminate much of complexity associated with Blockchain.

At the onset they plan to implement the five most popular digital assets, but in future they may offer bespoke solutions as well. There are also plans to offer ‘On-Chain Delivery Tracking’.  

Another advantage is that they plan to automate post-sales services using smart contracts.  Also, analytics, compliance and audit trails are made easy with Camelgram.

We asked Camelgram how their product will change the dynamic between businesses and customers, and they told us that it won’t affect things today:

“There will be little change in relationships, because we aim for a transparent transition. Also we aim for the big ticket, mid-frequency travel industry first, as reversal of cash flow profiles impact their business most significantly.”

Camelgram is ready for future challenges

The payment network scene is dominated by big players but at the same time the landscape is broad, and the devices are used in industries like hospitality, retail, healthcare and so on.

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This requires Camelgram to be quick on their feet and rise to the challenges involved. There are opportunities in emerging economies like India and China.

Camelgram told us how they intend to meet the challenges of the future:

“The initial pushback might come from additional counter space and incremental cost, however we can overcome this by showing new POS device addresses that to new customer segments were previously unreachable. Existing POS equipment makers may try to imitate but our device + software + service infrastructure should provide superior moat.”

Camelgram is operating in a fluid and dynamic landscape which presents challenges, but they are also likely to benefit from a successful crowdsale, which will lower operational constraints and give them a freer hand.

More information on the technical nitty-gritty of their operations and the ICO has been made available in a whitepaper, which can be downloaded from here.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.


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