A Singapore-based Startup COSS Ranked the Highest in ICO Rating History
August 4, 2017 Singapore ICO Rating, a company specialized in reviewing the potential investment projects, issued a report on the upcoming fundraising campaign of startup named COSS headquartered in Singapore, awarding it with the highest scale in its chart and report history.
ICO Rating, an auditing agency located in Russia and Spain is one of the early players of the emerging cryptocurrency market heavily fueled by ICOs. The company is specialized in evaluating companies, thoroughly reviewing of potential investment projects. Today it has issued an auditing report of C.O.S.S. PTE LTD (aka COSS) from Singapore on its website and social media ranking it as Stable+, the highest of its evaluation marks.
COSS is short for Crypto One Stop Solution, it is a startup with an operational digital platform at coss.io that aims to face the existing user experience issues related to cryptocurrencies and to bring it to the massive adoption. As stated in the report: “The market suffers from an absence of unifying, easy to use services. Many people do not understand the process of cryptocurrency purchase, storage usage, and sale; the COSS Project provides a solution.“
A 27-page report included 10 chapters that cover the general information about the startup, an overview of the market and the competitive landscape, the strategy, economics, risks and highlights among others. The report provided many insights, including the investment opportunities, e.g.: “The project aims to help conventional investors in real economy investment markets get acquainted with cryptocurrency markets. Such investors are potentially able to get a good yield, in the long run, thanks to this project.”
ICOs (initial coin offerings) are currently among the major drives of the Fintech industry largely focused on cryptocurrency. For a newcomer willing to find a project to invest in, the choice often appears to be too hard due to the lack of understanding of the internal processes that Fintech is undergoing at the moment, and also due to the lack of clearly-defined criteria helping to undertake a thorough evaluation of a project.
In their essence, ICOs are fundraising campaigns are carried out to launch the new or to continue the existing projects awarding the supporters with the cryptocurrency tokens or assets in return. Normally, these assets have some value attached to them in the form of a niche (niches) of their application. This value is highly dependent on the frequency of use of a token and a huge number of other factors such as user experience, the viability of the project, its functionality and conduct just to name a few. The abundance of such projects willing to raise funds these days is a signal of the increasing interest in the phenomena of cryptocurrencies and the blockchain technology, together or apart, may be a hindrance for experienced investors as well.
Many call this emerging market the wild west, in which literally anything is possible. The companies are raising huge amounts of money in minutes that escalates their market capitalizations tremendously. At the same time, the websites are prone to vulnerabilities such as hacker attacks and frauds. Security is one of the major concerns at the moment, and it rightfully should always come first in the industry that hasn’t elaborated an evaluation framework yet.
The auditing companies in this field are no more than three years old, and no one can be considered a top-class expert in the field due to its youngness. Until 2014 no one took the invention of cryptocurrencies seriously due to many reasons. In 2017 their variety and dissemination leave no doubts in the minds of experts and players of the industry that they are here to stay. From the very beginning, however, they have acquired the status of a technology accessible to only a limited group of IT people. The barrier has lowered since a wider audience got interested in mining bitcoin, and protecting their privacy online. Nowadays, the possibilities that the adoption of cryptocurrency presents are acknowledged widely, although the user experience currently remains among the major challenges. COSS Experience Officer, Andrei Popescu, commented:
“Cryptocurrency is MASSIVE! It’s a Solution not only a Trend. To put it simply, it is your money in Digital Form. It will empower the people who have No Bank Accounts. It will facilitate faster financial transactions and it cannot be counterfeited. Just imagine the world where we have a fully connected economy using a form of currency that is neutral, transparent, global and open… belonging to everyone, which requires no qualification to enter or access the system and not under the control of any government or bank. That’s what cryptocurrencies offer! When it comes to user experience, the first set of cryptocurrencies is a little bit slow and a little bit complicated… but things are scaling up and the next generation is going to be so much better and so much faster. Right now, cryptocurrencies are like the first cars or airplanes, they are slow and hard to understand, hard to engage and use, but, the mass adoption time frame will take much less than any other invention that revolutionized the world.”
Having read the full report, Rune Evensen, COSS CEO/CVO shared: “Only time can prove us right or wrong. Coming from a biased 3rd party and the ‘police’ of the industry we feel humbled to achieve their best rank ever with a recommendation to buy as the report suggests. Our confidence and determination to succeed are powered by our team and the advisory board, the whole community behind them whom we want to thank for all the feedback and support”.
On August 8, 2017, at 08:08 p.m. Singapore time COSS starts the sale of its revenue-generating token aiming to earn dividends for its holders in the form of various cryptocurrencies. More information is available at the website.