November 5 saw the launch of the ICO for the unique project Connectius, a service that will increase transparency in the entire e-commerce industry.
Connectius is a blockchain-based SaaS solution for e-commerce that allows companies to decrease their e-commerce-related losses due to the actions of dishonest customers during chargebacks or cardless transactions through the use of smart contracts. According to research findings, in 2016 approximately 8% of e-commerce income was lost to fraudulent activity, and almost 40% of all attempted transactions did not result in purchases. Connectius will help solve these problems, lower costs, and increase security for all of the ecosystem's participants: consumers of goods and services, who place orders within the system; suppliers, who provide these goods and services; and arbitrators, who resolve complicated situations between other users.
Work on Connectius began back in 2016. The first Connectius-based mobile app, Connectius Experts, has already been developed. Using geolocation and smart matching, the app offers users a sorted list of people and organizations ready to sell the service they need.
The funds raised during the ICO will be put toward further product development.
Connectius tokens (CNT) will become a universal medium for all transactions within the system. It will be used as a means of value exchange for payment not just within the system, but also in apps based on the Connectius platform. The cost of goods and services will be given in US dollars, which will be instantaneously converted into tokens by an external service.
“CNT tokens are not a security or cryptocurrency. We don't see it as a means for speculation. Nevertheless, tokens are an important element of our system that will be needed by all participants in these relationships. The team's goal is to ensure the ease and security of goods exchange through the use of CNT tokens,” explains Vasily Kozlov, Connectius founder and CEO, a blockchain enthusiast who has founded several companies.
Before November 20 tokens can be purchased at a 20% discount. Fundraising will continue through December 20. The company plans to raise $31 million.
Company name: Connectius
Company site: https://www.connectius.com