Dmitrii Muradov’s “fundamental dissections”: ICO Cool Cousin

The Cool Cousin is a popular application and ecosystem for travelling, with over 0.5 million active users. The app allows tourists, while travelling, to be in contact with local inhabitants or professional travellers — those very same “cool cousins” — and receive from them online advice about, and reviews of reliable services, just like from highly qualified guides you can trust.

Cool Cousin tries to remove the problem of incompetent, inflated and “false” reviews, which often top inquiry searches and differ significantly from real and truly relevant reviews. Users spend their time and money building up unreal expectations which, unrealized as a result, create a negative impression of the journey as a whole.

The app is intended to solve this problem, taking the initiative to connect tourists with local inhabitants and real experts with authentic and relevant information about services and their costs in a specific given place at a specific given time. Later the user will also be able to choose the best guide — his own personal “cool cousin” — who will help them find tickets to museums and concerts, sporting and other events, with significant discounts.

The project is good firstly because it already has a working product. The app is available for download at the Apple Store (the Android version is under development) and works in 70 cities. The Cool Cousin company itself, which is conducting the ICO project, has been in operation successfully since 2016 and has already attracted solid investments. The release of the project to the ICO stage is seen as a new stage in its development, allowing the service to expand globally, and allowing its community the opportunity to monetize their competence and services.

As concerns implementing the blockchain project, a P2P-travel service will be created, connecting travellers and local experts, and bypassing agencies, professional guides, agents and other middlemen, which will allow significant financial savings. At the same time blockchain will make the advice- and review-generating ecosystem relevant, honest and transparent, and therefore high-quality, while simultaneously endowing it with autonomy and scalability. Besides which, thanks to blockchain, all data within the system will be protected, and nobody will be able to apply to it any commercial solutions which cast doubt on the reliability of information.

The CUZ token will be the only payment asset of the Cool Cousin ecosystem. With it travellers will be able to pay for recommendations, and “cool cousins” will be able to monetize their competence. The use of internal tokens allows not only the stimulation of participant guides and experts in the system, but also freedom from bank and middleman commissions.

Сomprehensive analysis conducted by ICBF analysts shows that although the project does have analogs such as the Get Your Guide service (https://www.getyourguide.com/), it still has its own significant and constantly growing user base, and introducing it into the blockchain system may endow it with unique qualities, significantly increasing its competitive advantage. The use of the proposed technology in the future may turn the project into a virtual guide which, based on the technology of artificial intelligence and the application of neural networks, will be able in a matter of seconds to generate recommendations which fully compliment the desires and demands of the specific user.

Analysis of the project team showed that its basis came from the one same company (V15), but these people have fundamental expertise in creating tourist services. And a sound group of advisers (including top managers from such famous projects as Yelp and Moovit) adds faith in the further successful development of Cool Cousin.

Touching on the parameters of tokenisation, it is worth noting that 300 million CUZ tokens will be created, which will be divided in the following proportions: 33% to ICO, 10% to team participants, 10% to advisers, early investors, business angels and the bounty campaign, and 8% to advertising. The ecosystem community will receive 25% of the tokens, the remaining 24% being reserved for future operations. In addition, the tokens of the founders and current employees will be blocked for 24 months, and the tokens of advisers and early investors will have a block period of from 9 months, which are excellent indicators to stimulate team to achieve the aims set out in the project’s road map, and not allow it and other project “insiders” to cash out at the first release of tokens onto the cryptoexchange.

In its own evaluation, ICBF separately noted the quality and quantity of publications on the project, including positive comments in leading world media, including The New York Times and The Los Angeles Times, and also tourist and branch periodicals, such as National Geographic, Business Traveller and TechCrunch, which undoubtedly and unequivocally underlines the positive side of the project. Besides which, ICBF also noted the quality and quantity of Cool Cousin partners also shining a positive light on the project.

The Fund has also estimated the current size of the community around the project, including the website’s heavy traffic, the number of subscribers on Twitter (over 9,800), Facebook (over 12,500) and Instagram (over 9,000), and also more than 16,000 participants in the project’s channel in Telegram. At the moment Cool Cousin cannot boast a strong Youtube channel, having no more than 20 posted videos and only around 300 subscribers. However, the conception supposes the constant addition of new users, which should also facilitate the further growth of the community.

The Fund is ambivalent in its evaluation of the project’s road map, currently laid out until 2020, and notes additionally that significant events and releases will occur no sooner than 6 to 12 months after the ICO (thus, the internal wallet will be launched and the infrastructure for using CUZ tokens presented only in the 3rd quarter of 2018) — this does not facilitate quick returns on investments made.

The Fund’s experts are also very cautious of significant bonuses (up to 50%), which are associated with the project’s tokensale, whilst at the same time evaluating positively the freezing option of up to 9 months.

Of course the Fund has some reasonable concerns, that possibly not all the proposed unique solutions of the project will see the light of day, and the paid-for services and CUZ tokens would be demanded by users. Besides which, ICBF considers that the reason for the increase in the price of tokens is not completely justified. That said, we evaluate positively the potential for growth of the enormous tourist services market, which the project is oriented towards, and its possible potential share when all planned events and implementation of all developed products would be realised.

In conclusion, weighing up all the “fors” and “againsts” of the project, particularly positively noting the already existing product and huge potential for growth of the global tourist services market, and also noting the current low market value of Ethereum as a means of making investments, ICBF decided to take part in it, investing at the pre-sale stage (at the time of writing). The Fund believes in the future prosperity of Cool Cousin and its attendant success, along with the realisation of the goals which its qualified team has set itself, which should eventually result in quick returns and significant profitability for investments in the project.

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