Frasindo can be a rather complex cryptocurrency to get to grips with simply because of a relative lack of information compared to other ICO options that are out there. However, upon closer inspection, you can determine that this is a digital currency which has a very specific market in mind and that in itself can be an easier way for it to go ahead and get a foothold in a very tough industry.
The Basics of Frasindo.
The first thing that you notice with this digital currency is that it promotes itself as offering a completely self-sustainable blockchain as well as being a start-up incubator. These are claims that have previously been made by alt-coins, so at this point, there is nothing that makes this version leap out from all of the others.
They also state that they can offer investors sustainable and passive income and they have linked up as an official partner in Indonesia with companies such as Uber and Grab. They state that as they are backed by companies that have actual physical assets that this is a huge positive for the company in general.
The start-up incubator part is based in Asia, and they say that their community will allow individuals, or companies, to come up with a potential idea that uses the blockchain option with it then being voted upon by others. If the general consensus is that this is indeed a good idea, then they note that their developers will be more than willing to then go ahead and work on the idea to make it a reality.
Also, they appear to have created two different coins, one known as the FRAS Coin while the other is a CAR Coin. Each appears to have its own role to play within the cryptocurrency, but it is just another example of how this is a digital currency that is rather complicated to get to grips with even though the basic concept is relatively simple.
It is anticipated that any holder of the FRAS Coin will then be given a CAR Coin every 24 hours for them to use to get a free ride in Indonesia. Clearly, this is going to have various limitations placed upon it, none more so than what happens when you are not in the country so that is why this aspect should be put to one side when you are studying the entire ICO.
The Technical Aspect of Frasindo.
Details are rather sketchy and sparse when it comes to this digital currency meaning we have to often assume how the technical side of things is capable of working.
The company rents out vehicles as well as dealing with an online taxi which is why they have been listed as a partner with Uber. The token that they then release is used as a digital currency to pay for that rental so in this instance it clearly operates in a similar way as if you were paying for any other service or product via a blockchain.
The people behind the coin also say that they are offering a service that is completely transparent and live 24 hours a day. Furthermore, as it is backed by real assets and is capable of generating real income, then they have also announced that their blockchain is completely failproof.
From what can be discovered, the blockchain will work by putting together users and providers in order to complete the rental process. As it is on the blockchain, it cannot be altered at any point, as is the norm,
The Financial Aspect and ICO.
The company states that the production of FRAS Coins has been limited to 100,000,000. The CAR Coin is unlimited but it is the FRAS version that is going to be the important one when it comes to the ICO.
They are preferring individuals to use Bitcoin when it comes to purchasing their tokens. They do state that they will not release any more tokens, but that there could very well be expansion into other cities outside of Jakarta at which point this could be possible.
The ICO is scheduled to run until the 15th of April.
Conclusion About Frasindo and the ICO.
To conclude, Frasindo is a difficult cryptocurrency to evaluate simply because of the way in which it is quite tough to get accurate information that you can follow. Their whitepaper does tend to include a lot of extra information that blinds you from the key points that help an individual to determine as to whether or not they want to invest in the ICO.
However their token sale has seemed to attract a lot of interest with a lot of investors seeming to believe they could be very successful.
They also mention in their whitepaper that there will be the opportunity of earning recurring income, I wouldn’t base my judgment on this alone but it does add another reason that may attract investors.
The idea is simple enough, but the creators just complicate matters to such an extent that you are left wondering as to whether or not this is something that is worth your investment. The fact that they do have links to the correct companies, and they also state that they are covered by government legislation at the same time, is certainly in their favor but as to whether or not this is going to be enough to convince people to invest will take time to ascertain.
Finally, the concern over the number of coins and what happens when they expand into other cities should mean that there is extra stress put on the coin and this could result in the price being forced downwards as they expand. However the idea behind the project does seem to be good so if they’re able to raise a lot of funds and have a large budget for marketing then they should do well.
They also state on their website that they’re official partners of Grab and Uber.
Check out further details on their website:
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