Change aims to be a full service crypto bank, offering crypto payments and an integrated marketplace of FinTechs.
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What does the company/project do?
Change aims to be a full-service crypto bank, offering payments with cryptocurrencies as well as a fully integrated marketplace of FinTechs.
Change plans to develop several products:
Crypto wallet – facilitates the storage of all major cryptocurrencies, easy management of crypto portfolios, simple transfers of funds between peers, and other functionalities.
Change Card – a crypto debit card which allows users to spend their cryptocurrencies in online and offline locations worldwide.
Marketplace – an all-in-one platform for financial services. Users can use their cryptocurrency to invest in stocks, P2P loans, real estate, buy travel or car insurance or take a loan in cryptocurrency.
Change is also involved in the e-Residency initiative by the government of Estonia. e-Residency gives users a digital identity in the European Union - this can be used to start a company, open a bank account, file taxes, sign documents, etc. without physically being in the EU.
What are the tokens used for and how can token holders make money?
Third-Party Service Providers (TPSPs) share 20% of their revenues generated from Change users with Change. This 20% is distributed between Marketplace investors and holders of Change coin in a 1:5 ratio. With 16.67% going to marketplace investors and 83.33% being distributed to CAG holders.
0.5% of all payments volume will be distributed to CAG holders.
Currency for TPSP
CAG will be the facilitator of any transactions other than spending (excluding the temporary period in the beginning where other cryptocurrencies are enabled).
As CAG tokens are used (1) as a currency on the Change platform, (2) to receive a portion of income from purchases from the TPSP, and (3) to receive a portion of transaction volume from Change Card, the more usage the Change platform has, the more valuable CAG tokens should be.
- Change has a strong team with experience working in Fintech companies. It also has a number of legit advisors, including the former CEO of DHL Global Forwarding.
- Although it doesn’t benefit Change’s business directly, Change has an official partnership with a sovereign government, Estonia. This is going to provide validation to Change’s concept and put it steps ahead of many other blockchain projects.
- Change has a very ambitious goal of providing pretty much all the services that a traditional bank provides. If successful, the upside to the business and token value can be substantial. It also allows many financial services to be paid using cryptocurrency.
- Change has stated that regulations don’t apply to them because Change is merely aggregating a variety of FinTech companies (which are properly licensed themselves) into one marketplace. Also, if they were to obtain a banking license, it is only to add legitimacy and not vital to its business. However, we believe regulations should still apply in many jurisdictions.
- Most members of the team are working on Change and other startups at the same time, meaning they are not working in Change fulltime. It is unclear how they are going to allocate their time between different ventures.
- CAG tokens are not necessarily for purchases in the Change Marketplace, at least in the beginning. Users can use all major cryptocurrencies. This is going to reduce the need for CAG as a utility token.
- Competition – there are a number of blockchain projects in similar space as Change.
- The roadmap is vague. In the white paper, the only milestone after ICO is “delivery of first Change crypto cards; beta for marketplace launched”. This may indicate the lack of detailed planning for the team in terms of the execution and carrying out the game plan for the project.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.