- Obizcoin ICO just reached their softcap of 30 million tokens sold (31.2 million sold so far) so the project is definitely going to be created.
- Obizcoin issued a confirmation that their token will be listed on the Nebula Exchange starting April 1st, 2018.
There’s a new token in town, and it ain’t kidding around. Meet ObizCoin, a project that wants to target the huge SME and Startup market with an innovative BOT that automates business processes. One major problem that startups face right now is scaling up. If you’ve watched the Silicon Valley TV series you know what I’m referring to, but Obizcoin wants to develop a bot that will help scale up even the fictitious Pied Piper.
The automated bot not only will have its own AI to adapt for business processes, but it will use blockchain technology for scaling up. By using blockchain, it could help startups organize and expand without major hiccups. In fact, the name of it even suggests that: O-BIZ is derived from “Organized Business”.
Now, if you are thinking why SMEs and Startups and not mid/large enterprises, the answer is volume. Contrary to what you may think, 70% of all the businesses in the world are actually SMEs not large companies. Plus, SMEs/startups are more inclined to begin using new technologies as it’s easier for them to adapt, unlike the corporate-clogged Big Kahunas out there. OBIZ will help startups and SMEs face the challenges in managing their business processes as they grow. You can watch this founder’s video where OBIZ is explained in detail and how it can help startups:
Obizcoin caught my attention because they’re one of the few ICOs out there that actually are working to create a real product. In fact, here are some of the reasons why I believe you should invest too into Obizcoin:
- They came up with an unique concept to solve real world problems for Startups and SMEs
- They are targeting a huge market (70% of all businesses in the world)
- The team behind OBIZ has 5+ years of experience into the business process automation industry (plus some elite advisors)
- Each investor gets access to profit sharing as well as 1% per month ROI until the BOT is developed
- The pre-sale for the ICO is already close to reaching the softcap
- They are offering confirmed listing of their tokens on Nebula Exchange
- The token price during the pre-sale is around $0.09 per OBZ (considering an 1,200 USD value for ETH) but when it gets listed on March 2018 it’s expected to be around $1 so more than 10 times the ROI at least.
- There’s already a proof of concept available
- You can read more about Obizcoin in their Technical Paper, Whitepaper or Litepaper
The following video details the Obizcoin ICO even more:
What you won’t find with other coins is the minimum guarantee, that is 1% of your invested amount will be credited to you while the BOT is being developed. Coins that you purchase during the pre-sale or ICO will be tradeable on March 15th, 2018 when the ICO ends and OBZ gets listed on exchanges. Add that to the incremental profit sharing (starting from 30%, distributed quarterly) and you have a solid ROI promise.
Even more, every month they will buy back 1% of the issued tokens (for 1 year) and destroy them, to reduce the amount of available tokens and thus increasing their value.
Since a POC is already available for the BOT, here’s an extract on what features it will have:
- Process decisions. Bot will handle decisions for optimum utilization of resources
- Domain expertise. Will provide industry domain expert solutions
- SWOT Analysis. Will analyze strengths, weaknesses, opportunities and threats and provide a SWOT chart
- Reward system. Will use smart contracts to execute a reward system
- Audits. BOT will track and review team performance.
- Alerts. Will issue alerts based on its analysis of current and predictive progress.
- Process design. Will design processes that the organization needs to use
- Smart contracts’ processing. BOT will execute smart contracts within and outside the organization.
The bot will reduce operating cost by optimizing the business processes, reporting and minimizing risks of business failure. The alerts will also provide early warning signals to spot possible problems.
As far as the ICO goes, it will start when the pre-sale ends. OBIZCOIN Pre-sale & ICO Information:
- PRE-ICO started on December 14th, 2017
- ICO ends on March 14th, 2018
- Token price during pre-ICO: 1 ETH = 11,000 OBZ tokens
- Token price during ICO sale: 1 ETH = 10,000 OBZ tokens
- Hardcap is set at 15 million USD
- Softcap is 1.5 million USD
In total there will be 300 million OBZ tokens distributed, as follows:
- Investors: 270M
- Team: 24M
- Bounties: 6M
The 24 million OBZ kept by the team will be used primarily for development (60% of the funds), with the rest being divided between marketing, operations and keeping a reserve fund.
OBZ tokens can be purchased directly from their site by sending ETH or BTC to a provided wallet address, or with PayPal/PayU Money. The minimum purchase is the equivalent of 500 USD during the pre-sale (being an SMB targeted token it’s understandable). You will need to provide some details, as Obizcoin uses the KYC model (know-your-customer).
Once you’ve purchased OBZ tokens, you can see your balance by using an ERC-20 compatible wallet. I’m using MyEtherWallet and highly recommend it, so if you use that here’s how to see your OBZ token balance:
- Click Add Custom in the Token section for MyEtherWallet
- Put this address in the TOKEN CONTRACT ADDRESS: 0xBf5eEd8d51B20834c9d887b22C229237922055D7
- Once you’ve added the contract address you’ll already see the icon being preloaded. Next put as the token symbol: OBZ
- Set the decimals to 18 and you’ll be able to see your OBZ token balance
Lastly, the team behind the project is currently comprised of 3 founders, 6 advisors and 11 team members. Details about each are available on their official website, but here’s the short bio of the founders:
Dr. Rupal Agarwal: Entrepreneur, Strategies Implementation Expert, Retail Management Consultant, Blockchain & AI Enthusiast. Linkedin Profile: https://www.linkedin.com/in/agarwalrupal/
Nikhil Agarwal: Entrepreneur, Business Process Management. Consultant, Retail Domain Expert, AI & Blockchain Enthusiast. Linkedin profile: https://www.linkedin.com/in/nikhil-a-agarwal/
Varun Shah: Entrepreneur, Financial Expert, Think Tank, Risk Analyst, Wall Street Enthusiast, Management Consultant. Linkedin Profile: https://www.linkedin.com/in/varun-shah-8b50322a/
Feel free to share in the comments your thoughts about Obizcoin and questions (if any). Happy investing and as usual TO THE MOON!