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CustomCoin - ICO Review

CustomCoin: Token for Construction Industry

These days, having realized the immense potential that the blockchain technology bears, every sizable industry is engaged in the process of finding proper application for it, including the construction business. One of the representatives of which, named CustomCoin, works on the development of the blockchain-supported platform for investment in the construction business in Switzerland and throughout the entire European Union. 

CustomCoin is an international startup comprised of specialists from Switzerland, Ukraine, Nigeria, Latin America, and India, who work conjointly under the auspices of Prima Fassaden Isolation Ltd, located in London with the official registration number available on the website and in the database of companies registered in the UK. 

The project is currently at the stage of the token sale of CC, the ERC-20 compliant utility token, which can be used as a means of payment and provision of loans for construction and auxiliary works.

Problem statement and the CustomCoin solution

Despite the fact that the construction industry had completely recovered after the crisis of 2008 and entered the booming stage, it is still crippled by a number of problems. One of the most crucial of them concerns the dominance of large companies that established a covert oligopoly on the market and deprived smaller firms of the room for growth, although they could offer the same quality of services at a more affordable cost.

CustomCoin designed the platform on the basis of the Ethereum blockchain to help small and mid-sized construction companies obtain access to cheaper and easily obtainable loans, and other forms of financing, thus allow to establish a firm foothold on the European market and promote competition.

Functional capabilities of the platform

Needless to say that the blockchain enabled CustomCoin platform will ensure the transparency of all financial and contractual operations that take place in the network, and offer a certain degree of anonymity, if needed.

However, the primary focus of CustomCoin lies in the area of financing of construction projects and opening an opportunity for finding the most efficient and cost-effective contractors. The platform will be endowed with such features as the employer/employee search, made in the form of the comprehensible bulletin board; the rental and sale of different construction machinery and tools; the possibility for salary payments and settlements in CC tokens, which can be subsequently exchanged to cryptocurrencies or fiat directly on the platform. CustomCoin can also exercise the function of an intermediary between all network participants. 

The team members

Daniel Stojkov. The founder. An immensely experienced specialist, who has been working in the construction business since the 80s. He is also a founder of the parent company Fassaden Isolation Ltd.

Francesco di Luzio. The COO. Graduated from University of Bocconi with a degree of financial science. Apart from CustomCoin, he is also an active team member in the other two crypto projects, namely InsCoin and Masternode Invest.

The ICO details

CustomCoin is currently distributing CC tokens within the framework of the ICO, which is due to last until September 1. The price of 1 CC is 0.006 ETH - the minimum investment limit is $100. The project accepts Bitcoin and Ethereum while aiming for a rather modest hardcap of $7.5 million. Passing KYC is mandatory. No restriction has been imposed with regard to the place of residence.

Author: Alex Paulson for Crypto-Rating.com

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StartJune 1, 2019
EndSeptember 1, 2019

Everything about CustomCoin seems to be legit, but they should have presented at least some sort of an MVP before launching the token sale. Also, the team doesn’t appear to be overly experienced in construction, with the exception of the project founder. Besides, I didn’t find any strong blockchain developers in their roster, but then again, blockchain is more like a supplementary element for this project. I am not 100% convinced with their offer, but not turned off either.

Paul   August 5, 2019  

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