1. PRESENT PROJECT OVERVIEW

„Crypto-One-Stop-Solution platform, or as abbrevation COSS,  has the goal to solve problem of poor user adoption of cryptocurrencies with one-stop solution approach, which all is realized through a platform. Platform is designed with aim of informing and educating users about the variety of coins, helping them to make an informed choice, and providing multiple possibilities to use digital currency, all in the same place.“ [1]

„The COSS system consists of a payment gateway / POS, an exchange, a merchant list, market cap rankings, a marketplace, an e-wallet, various coin facilities and a mobile platform. The COSS platform unifies all transactional aspects that are usually managed by means of FIAT money, and offers multiple cryptocurrency-related services in one place. The list of potential features of the platform can be infinitely extended, and will continue growing as the platform evolves.“ [1]

a) COSS TOKEN

Weekly “fee split allocation” paid to all COSS token holders who are getting payout dividens in a way that 50% of exchange fees are proportionally distributed among them. Daily trading volume is in range from 1-2 mil USD so in the moment there is now significant payout.

Token is tradable on exchanges HitBtc and COSS.

Figure 1. Chart showing movement of COSS token market cap (blue line), price (USD; green line) and 24h volume from Sep 25, 2017 – Mar 2, 2018; source coinmarketcap.com

Circulating Supply – 64,775,052 COSS tokens (64 mil)

Maximum Supply – 200,000,000 COSS Tokens (200 mil)

COSS token allocation plan is without detailed description. To our knowlegde there is no activity spending plan for example, 10% for marketing, 15% for exchange develepment etc.

2. TEAM

They have international team with managing board in Singapore and branches in New York and Bucharest. Developement team is based in Bucharest and that could be an advance and then in the same time, shortage. Advance due to cheaper salaries for IT experts and bad due to Romania frequently perceived as a third world country. „Most of the people working on the project are Romanian and the firm is also a member of the Chamber of Commerce and Industry of the country. That being said, they also participate in ACCESS, the Singapore Cryptocurrency and Blockchain Industry Association“ [2].

Dan Cearnau – Team Leader and co-founder

  • Bitcoin enthusiast and blockchain developer. Young entrepreneur (27 years) with strong IT background who currently owns software development agency in Romania currently working with FinTech startups from Singapore in implementing smart-contracts applications on Ethereum
  • His personal website is not working even though it is listed on his resume
  • His resume shows a lot of projects where he was in main roles in different industries like online marketing, medical field or restaurants (founder or cofounder)
  • Has a great reputation in Romania
  • Little activity on LinkedIn (little endorsments from this network → indicates to – not so strong network of contacts, strong enough references for executing on his project role) and Twitter
  • His results speak highly of him since his entrepreneurial journey is quite “rich”. However, our opinion is that he is too young and still needs more experience and results to lead a project like COOS toward milestones team has listed. Seeing bold vision behind the project we would expect someone older and with more experience in blockchain or fintech vertical.

Haarek R. Andreassen – Research and Development Officer

  • 25+ years of combined experience within; Business Development, R&D, Process Development, IT Development, Project Management and General Management (several industries)
  • On his current company Exulto Consulting as partners are listed COSS and company whose owner is Dan Cearnau → clear connection between Romania and Asian market between team leader and Haarek; however company`s website provides not so clear differentiation among competitors and viable references of their work
  • Little activity on LinkedIn (little endorsments from this network → indicates to – not so strong network of contacts, strong enough references for executing on his project role) and Twitter
  • It is visible that Haarek has quite a lot of experience in multiple industries which shows a proof for this role inside the team. Having in mind his experience from Scandivia and Asia, he is a great asset to this team. But the challenge we see is his track record, like in case of team leader, and experience which is not 100% proves for the vision behind the project.

Iulian Oprea – Technology Officer

  • Experience in Software Project Management, Software Development, and Financial Management
  • Works as general manager for company whose owner is team leader plus 2 more projects in the past previous working experience with team leader can be of great value for the team in the future
  • Same age as team leader (27)

Little activity on LinkedIn (little endorsments from this network indicates to – not so strong network of contacts, strong enough references for executing on his project role)

  • Similar feedback like for team leader. Seems too young and without a proven track record to execute vision behind the project.

Maria Popova – Content Manager

  • Previous writing experience for Cryptocoin.news and Crypto Learning
  • Marketing background does not show long experience or any significant references which are related to this project
  • Little activity on LinkedIn (little endorsments from this network → indicates to – not so strong network of contacts, strong enough references for executing on her project role)
  • In our opinion, Maria does not have proven track record and references in marketing field which are needed to execute her role in the project since marketing is one of the most important parts of ICO.

Board of advisors:

  • Anson Zeall who is advisor for Blockchain Industry & Community has proven track record from Asian market (especially Singapore) which could be valuable to team; very active on LinkedIn with a quite strong network in blockchain area

  • Mike Costache who is advisor for Strategy / Investments was born in Romania which can indicate how he is connected to project since team leader and technology officer are from Romania as well; proven track record in several industries and investing field; 30k followers and high number of endorsments on LinkedIn indicate very strong network

  • Zach Piester who is advisor for Strategy / Investments has proven track record in blockchain and investment field; 18k followers and high number of endorsments on LinkedIn which indicates quite a strong network

Final conclusion about team:

From 10 listed advisors on the website, 3 listed above are the most significant ones since other 7 either to not have a LinkedIn profile listed or not so proven track record.  This indicates that project lacks advisory resources in spite of some great people in the advisory board. What strikes us the most is that there is no real advisor from technology field which would be a great support to technology officer who does not have enough knowledge and experience in blockchain field. Our opinion is that this team has a previous working experience on other projects and connection between themselves and their advisors. However, there is highly visible lack of proven track record in a team leader, technology officer and content manager which decreases the possibility of executing on project vision and milestones team has created. Advisory board provides a great support from strategic and investment point of view but lacks support in technology and marketing field.

3. UPCOMING FEATURES [3]

NOTE: Very poor described details.

  • Crowdfunding Finance your new idea or just help other get financed. Everything based on the security and transparency of the blockchain.
  • Pre-paid credit cards MasterCard, branded credit-card with deposit cryptocurrencies feature. The credit-card can be accepted by any merchant that has a MasterCard compatible POS.
  • Smart-contracts legal-binding contracts with partner companies or just incorporate a new company.
  • Remittance International money transfer made easy through cryptocurrency adoption.
  • 3rd-party plugins COSS integrates 3rd-party blockchain start-ups that can offer innovative features to our users.

4. COMPETITION

  • Kucoin: the major incumbent in the fee split token segment. Kucoin quickly grew in popularity and averages over $100M volume per day. However, the fee split for KCS is variable and can be adjusted below 50% at any time [4]
  • Binance: major global exchange averaging over $2B volume per day. The BNB coin does not offer a fee split, but instead offers reduced trading fees [4]

PROS:

  • Exchanges lack of infrastructure when accepting new users and people are searching for new service providers
  • In the future COSS prepaid cards [1]
  • The COSS Token will migrate to ERC223 on 04.03.2018 12:00 UTC [3]
  • Very often are updates on platform with shortage of disabled access to your account during update and updates are without visible change (probably background software improving speed and reliability); It has to be noted that it is BETA version
  • Dividens for token holders
  • A fiat gateway for USD, EUR, and SGD will open in March 2018 [4]
  • Extremely focused on all regulatory approvals and licenses, especially meeting SEC requirements for US citizens [4]
  • Rune, CEO, is very active on Telegram with consistent updates, which drives high intraday volatility [4]

CONS:

  • Very slow development
  • Beta version causes bugs and users unhappy with service! negative comments lead to bad reputation
  • Wide „cryptoworld“ project without precisely described execution process
  • Competition with decentralized exchanges, no-fee exchanges and potential projects such as FairX and WorldBook [4]

5. CONCLUSION

Project has slow development in the moment, with buggy and a bit poor visual interface. That can be attributed to BETA version but as time is clicking investors expect some movement in users attracting. They will wait for bigger moves and advances in platform to invest their money.

Overall this is a high risk project with a high potential. Beside team which is slightly unexperienced and have not been proven yet, major risks are included under the CONS.

REFERENCES:

[1] “COSS.IO whitepaper,” 2017. [Online]. Available: https://coss.io/documents/coss-whitepaper-v3.pdf. [Accessed: 01-Mar-2018].

[2] “COSS Review – Is coss.io scam or good cryptocurrency exchange?” [Online]. Available: https://www.forexbrokerz.com/brokers/coss-review. [Accessed: 01-Mar-2018].

[3] “coss.io.” [Online]. Available: https://coss.io/. [Accessed: 01-Mar-2018].

[4] Coinonomic, “Cryptocurrency Research Report: Coss.io (COSS).” [Online]. Available: https://steemit.com/coss/@coinonomic/cryptocurrency-research-report-coss-io-coss.