Cashaa is a virtual marketplace that allows its users to buy and sell cryptocurrencies through a bidding process. It’s a blockchain-powered platform that provides a variety of locations and amount formats, even combining two locations for the same deal. The platform is based on a peer-to-peer model and the contract is sealed between the users themselves.
We’ll also point out all the things Cashaa is not. It’s not a money-transfer or remittance service, a crypto exchange, a cryptocurrency wallet or a traditional auctioneer. Cashaa basically connects users from various locations and offers escrow services (expressed in crypto) to facilitate their deals.
So, if you want to learn more about the Cashaa project, the inner workings of the platform itself, and its upcoming ICO, read our dedicated Cashaa review.
Here’s an overview of Cashaa’s core team:
- Kumar Gaurav – Founder & CEO
- Celestine Vettical – Co-Founder & Chairman
- Dominic Melo – Chief Payments Officer
- Francesco Zorgno – Chief Investment Officer
- Felice N. Covelli – Co-Founder & CEO
- Janina Lowisz (aka. Blockchain Girl) – Co-Founder & VP Marketing
- Rakesh Lakhey – EVP Sales – Asia
- Enrique Lau – EVP Sales – Latin America
- Simo Mcunu – VP Sales – Africa
- Venkatesh Krishnamurthy – VP Partnerships
- Amjad Raza Khan – VP Technology
Cashaa advisory board includes:
- Bernard Lietaer – Strategic Advisor
- John Henry Clippinger – Strategic Advisor
- Tim Campbell – Marketing Advisor
- Richard Kastelein – Blockchain Media Advisor
- Akash Gaurav – Blockchain Network Advisor
- Alex Norta – Blockchain Architect Advisor
- Winston Gilpin – Venture Capital Advisor
- Anil Earla – Fintech Advisor
- Colum Rafferty – Payments Advisor
- Dinesh Prasad – Strategic Advisor (India)
- Rajesh Dhuddu – Payments Advisor (India)
Prominent partnerships include:
- L39 Technology Accelerator
The official website provides rich backgrounds on all team members, including their Twitter and LinkedIn accounts, as well as Rise Global positioning and Wikipedia pages. Providing this info amplifies the overall trustworthiness of the project.
About The Project
The team behind the project is building a new-generation model for financial services. According to the Whitepaper, the platform is based on blockchain technology and artificial intelligence.
This section of our Cashaa review will focus on the problems this platform aims to solve. As you may know, every new ICO has to offer serious solutions to some of our everyday problems and disrupt the already existing business model(s). If it fails to do that, then it’s just a blockchain-based version of something we already have, ergo, unnecessary. The main strength of new ICO projects doesn’t lie in blockchain technology, as many people seem to think, but in their ability to “outgrow” current business models and make them obsolete.
The first issue Cashaa is trying to resolve is the traditional rail structure, which requires considerable processing efforts in order to move money. The main cause of this problem is the general “siloing” of data between the industry players and the low engineering efforts on the payment systems to achieve compatibility across financial institutions and payment networks.
The second problem lies in the difficulties existing users and businesses have trying to leverage the existing blockchain infrastructure. This was brought upon by the recent emergence of cryptocurrencies and their explosion in value.
The team behind Cashaa has more than 200 years of banking experience and they strongly believe their platform will be able to replace the existing payment and banking systems by lowering the financial inclusion barriers and providing financial services to the banked and unbanked. This is the value we were just talking about, as we can clearly see what business model Cashaa is looking to “retire” if successful.
Cashaa is based on 4 core principles:
- Powering financial products for the banked and unbanked – Cashaa will offer transparent digital services, creating a one-of-a-kind international platform that can serve an entire population.
- Facilitating affordable currency exchanges – With Cashaa, you’ll be able to send money quickly across borders for a small flat fee, which is only a fraction of the costs we have today. On top of that, its cutting-edge technology will also be able to offer the best foreign exchange rates.
- Enabling investments in the international economy – Cashaa will launch several products (wallets, physical and virtual cards, microlending, and P2P exchange and insurance) to allow its users decentralized access to the global economy. This, in turn, will enable bigger portfolio diversification and higher yields.
- Open API for the community – The platform will develop the next generation DApp in order to solve some of the biggest financial challenges on a global scale.
The team has been beta testing the platform since February 2017, proudly reporting 12,770 beta testers in 141 countries, with the overall transaction amount of around 10 million dollars. You can find more details on this topic in the official Whitepaper.
The only thing we don’t like about Cashaa so far is the fact that the Whitepaper is still in its draft stage and is open for future changes, which does seem a bit unprofessional.
Why Choose Cashaa
- The platform is already beta tested
- Solid and ambitious idea
- The opportunity to create a decentralized global economy
- Lower transaction fees
- Numerous tools will be implemented in the platform
- Support for the unbanked and underbanked
- Highly experienced team behind the project
- Reputable partners
- Open API
- The platform doesn’t require any previous crypto knowledge
Cashaa token CAS is built as an EIP-20 token on the Ethereum blockchain. The token pre-sale will be held October 20th-30th and the reference price is set at 0.01$. The cap is set at 70,000 ETH, with the minimum participation amount of 50 ETH and maximum of 10,000 ETH.
The pre-sale bonuses go as follows:
- 50 – 100 ETH – 60%
- 100 – 500 ETH – 80%
- Above 500 ETH – 100%
The official token sale starts on November 6th, 2017, 17:00 UTC and ends on December 5th. The reference price of the CAS token is also set at 0.01$. The total of 51% of all CAS tokens will be offered for sale and the hard cap is set at 105,000 ETH. You will be able to purchase tokens with BTC, ETH, USD, EUR, and GBP. The KYC process will request proof of identity and residence.
- Tier 1 (24 hours) – 40% bonus
- Tier 2 (next 3 days) – 20% bonus
- Tier 3 (next 7 days) – 10% bonus
- Tier 4 (until the token sale ends) – 5% bonus
The min amount for all tiers is 0.1 ETH while the max amount for tiers 1 and 2 is 10 ETH and unlimited for tiers 2 and 4.
Cashaa will issue a total of 1 billion CAS, distributed in the following way:
- Token sale – 51%
- Team – 20%
- Company 24%
- Community – 5%
Cashaa is a blockchain-based platform designed to power the mainstream adoption of financial products with the help of artificial intelligence. It will empower the banked and unbanked, facilitate affordable currency exchanges, enable participation in the global economy, and use open architecture to develop a new outlook for the community. Cashaa aims to replace the traditional banking system with cryptocurrencies by allowing people to move money at lower prices and higher speeds. In case you find the idea interesting, our list of additional resources below will help you gain a better understanding of the project.
- You can check out this Cashaa YouTube review to familiarize yourself with the platform and follow up with the official Cashaa YouTube page and Kumar Gaurav interview.
- You can also follow Cashaa Facebook and Twitter accounts to stay up-to-date with the latest news.
- Lastly, Cashaa Telegram and Discord channels will allow you to exchange thoughts and opinions with other potential investors.