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Comsa Basic Review

Project Review

About the Project

Name: COMSA

Ticker symbol: CMS

Project    Type:   Ecosystem    for   ICO projects; ICO consulting and blockchain integration services

Company: Tech Bureau

Website

Whitepaper

 

ICO details

Starts: 02.10.2017 14:00 (JST)

Sale Length: 5 weeks

Token Type: ERC20

Total Tokens: -

Available in Token sale: 50%

Fundraising Goal: -

Pre-Sale: until 20.09.17 with 20% bonus for investments $100,000+

Price: 1 USD

Accepted: BTC, ETH, XEM

Bonuses:

For all: 14% 02.10 14:00 - 06.10 07:59 (JST) / 10% 06.10 08:00 - 11.10 13:59 (JST) / 5% 11.10 14:00 - 25.10 13:59 (JST);

For Zaif token holders: 2% 02.10 14:00 - 06.10 07:59 (JST)

 

Team

Team size: core team - 6 members, 2 legal advisors, ICO Committee - 20 members

GitHub: -

 

Social media

Slack: 2278 members;

Twitter: Global 64 tweets, 3927 followers / Japan 394 tweets, 12100 followers;

Reddit: 85 subscribers;

Facebook: 1330 followers;

Telegram: Global 3109 / Japan 4338 / Russia 2758 members

Project Description

Tech Bureau, a company that develops blockchain-based software and services as well as offering consulting services on implementing blockchain technology, is launching the COMSA project.

The authors of COMSA provide the following definition: “COMSA aims to solve the problem of bridging enterprises and their existing businesses to public blockchains. COMSA is proposing to bridge NEM, Ethereum and the Bitcoin public networks together with the mijin private blockchains that enterprises will be using. The idea is to build a bridge between these enterprises and cryptocurrency owners so as to provide an avenue for cryptocurrency owners to spend while enterprises can have  an immediate and extended market to sell their products and services on, and continue to develop their blockchain solutions to cater for mainstream users. Additionally, this symbiosis also allows both sides of the crypto and mainstream economies to come together on common ground, promoting the proliferation of the crypto economy into the mainstream and vice-versa, and therefore help foster the widespread acceptance of cryptocurrencies.”

The COMSA ecosystem includes Tech Bureau projects, namely the private blockchain Mijin and the Zaif cryptocurrency exchange. The core elements are the COMSA CORE and the COMSA HUB.

COMSA CORE pegs and controls tokens between the NEM, Bitcoin, and Ethereum blockchains as a service independent of Tech Bureau. It converts value among cryptocurrencies  into  pegged  tokens,  with   the   total   volume   controlled. COMSA HUB is software for licensed holders of mijin private blockchains to control token balances  between  master  public  blockchain  accounts  and   internal   private ledgers.

The ecosystem operation diagram is presented below:

COMSA is a catalyst for business cryptolization. The main focus of the project is on companies with traditional businesses that have not yet promoted their product or attracted financing via an ICO. COMSA offers full support for the ICO procedure including the drawing up of a business project and token listings for such companies, as well as for new idea-driven projects.

This project seems to be a universal and comprehensive solution for the companies taking on ICO. And for investors, it is a single project database.

In addition, COMSA offers a solution for minimizing the number of questionable projects within the ecosystem - an ICO committee that evaluates projects. For projects that are deemed to be potentially hazardous, a vote within the community is stipulated

Resume

We believe that the COMSA project has great potential both on the long-term investment horizon, and with speculative purposes in mind. The main idea of the project is already being implemented by Tech Bureau, which will help avoid long waits for the project’s launch after the ICO ends. Moreover, the first ICO within the ecosystem is scheduled for launch before the end of the year. The project does not lose its appeal in the long term - apart from a predicted increase in the number of projects on blockchain, the 5% bonus for each subsequent ICO becomes an additional growth factor for portfolio investors.

The week after the start of the ICO, the project collected 77.2 million dollars.

Conclusion

Pros of the project:

  • A unique set of services for companies that take on ICO
  • The project is based on an already functioning service from Tech Bureau
  • The project has a strong team with experienced specialists
  • The largest Japanese venture funds are among the investors
  • The project is being developed in Japan, where cryptocurrency is legal. The Zeif Exchange (COMSA project) is passing the necessary licensing
  • Some of the tokens will be distributed within the team
  • All participants in the ICO will receive a 5% bonus for all subsequent participations in ICOs within the ecosystem.

Cons of the project:

  • No long-term company development strategy is described
  • Token functions specify the possibility of voting for an ICO, however, there is no data on whether tokens will perform payment functions for provided services.

Review of Competitors

There are plenty of ICO project aggregators; most of them are intended for informational purposes and do not provide a possibility to invest directly. Companies offering to support an ICO campaign and to promote projects are few. One of the indirect competitors of COMSA is ICOO (Initial Coin Offering Openledger), which also offers support and promotion services for ICO campaigns. This is a closed platform for trade using the cryptocurrencies of start-up projects.

Unfortunately we failed to find exhaustive information about the current state of the company. The only indicator can be an estimate of the company's capitalization. At the moment, the company has been virtually rededicated to conducting an ICO.

Market and Industry Review

According to Coinschedule, the amount of funds attracted through ICOs is growing at an incredible rate. In 2016, 46 ICOs were held for the sum of US$96.4 million, the most successful of which was the Wave project which raised US$16.5 million (notwithstanding the hacked DAO project). In the year 2017 the number of ICOs held has exceeded 150 so far, totalling about US$2.4 billion in investment; the Filecoin project became the leader with $257 million of investment.

 

More and more projects are taking on ICOs and gathering larger investments. The market is currently at the stage of active growth and has enormous potential.

Documents

The project site and the white paper are presented in three languages: Japanese, English, and Russian. The document structure is a bit confusing, but the information is comprehensible. The site has sections that largely repeat the white paper, only complementary to a small extent.

ICO

Starts: 02.10.2017 14:00 (JST)

Sale Length: 5 weeks

Token Type: ERC20

Total Tokens: Demand driven

Available in Token sale: 50%

Fundraising Goal: Not set

Pre-Sale: until 20.09 with 20% bonus for investments US$100,000+

Price: 1 USD

Accepted: BTC, ETH, XEM

Bonuses: For all: 14% 02.10 14:00 - 06.10 07:59 (JST) / 10% 06.10 08:00 - 11.10

13:59 (JST) / 5% 11.10 14:00 - 25.10 13:59 (JST);

For Zaif token holders: 2% 02.10 14:00 - 06.10 07:59 (JST)

Tokens are released on demand. At the end of the ICO, the number of issued tokens is calculated and the same number of tokens is issued. So, the number of tokens for sale will be 50% of the total. The remainder will be distributed between the project authors, placed in the development fund and put towards promotional bonuses:

Collected funds will be used for current development of the project – the development of COMSA CORE and COMSA HUB, development of cryptocurrency/fiat tokens; adding a multilingual interface for the Zaif exchange; COMSA PR and Marketing.

Plans of the Project Development

The company does not provide a strategic development plan. At this point, the COMSA CORE and COMSA HUB are being developed, and the rest of the project is up and running. The company did not set a minimum threshold for the project to launch, which indicates intentions to run it regardless of the collected sum. There is no upper limit either, which allows one to become an investor in the project at any point.

The sole specified goal of the COMSA project was to reach the point of US$100 million in 2018 with more than 20 ICO projects.

The launch of the ICO for Premium Water Holdings Inc. (2588. T) is already planned for 2017.

Team

Tech Bureau Executives:

Takao Asayama - CEO of Tech Bureau Corp. Council member of
NEM foundation. Director of BCCC - Blockchain Collaborative Consortium and JCBA - Japan Cryptocurrency Business Association.

Ryosuke Hosoi - Zaif CTO of Tech Bureau Corp.

Kazunobu Hatta - CFO of Tech Bureau Corp.

Jaguar0625 - A.k.a “Jaguar0625”.  Mijin CTO of Tech Bureau Corp. Lead core developer of NEM blockchain project and also mijin private blockchain product.

Mitsutoshi Fukunaga - CMO of Tech Bureau Corp.

Tom Beno - US region manager of Tech Bureau.

Legal Advisors:

Masakazu Masujima - Legal advisor of COMSA and Tech Bureau. Partner attorney at Mori Hamada & Matsumoto law firm. Ranked 2nd for Legal Expertise in the FT 25 Asia-Pacific Law Firms.

Michio Asayama - Co-founder and legal advisor of Tech Bureau. Partner attorney at law of Kotohira law firm.

 

ICO Committee Members:

Lon Wong - President of NEM.io foundation. CEO of Dragonfly Fintech, Singapore.

Kazutaka Muraguchi - COMSA partner. Venture capitalist and CEO of Nippon Technology Venture Partners.

Yokiko Nishimura - General manager of public relations and business development Money Partners Group (TYO:8732).

Ryuji Yagi - CEO of Caica Inc. (JASDAQ:2315)

Yosuke Iwai – CEO of Arara Inc.

Kunihiro Tanaka – CEO of Sakura Internet Inc.(TYO:3778)

Katsuaki Sato – CEO of Metaps Inc. (TYO:6712)

Masahiko Ito – Senior Deputy General Manager of Corporate Planning Division / Senior Chief Manager of Center of FinTech  Office Mitsubishi UFJ Trust and Banking Corporation

Tetsuyuki Oishi - CSO of United Bitcoiners Inc.

Noriyuki Hirosue - Founder / CEO of bitbank,inc.

Jeff McDonald - Vice president of NEM.io foundation.

Yoichiro “Pina” Hirano - CEO of Infoteria Corp. (TYO:3853)

Hitoshi Kano - CEO of Fisco Ltd. (JASDAQ:3807)

Kaneto Kanemoto - CEO of OKWAVE (NAGOYA:3808)

Nate D'Amico - CEO of Reactor8

Osamu Ogasawara  - CEO of ABBALab inc.

Yoshitomo Izura - Head of Investment Banking at Tokai Tokyo Securities CO.,LTD. (TYO:2588)

Ken Shishido - Tokyo Bitcoin Meetup Group

Jin Nakamura - CEO of MONEY DESIGN Co., LTD.

Chikako Suzuki - PricewaterhouseCoopers Aarata LLC Partner

 

Partners:

Nippon Technology Venture Partners (one of the leading Japanese venture capital companies specialized in investments for high-tech businesses), Infoteria Corporation (leading software company providing connectivity across “computers”, “people” and “things” with leading edge technology.), FISCO (Japanese financial information vendor),  CAICA (Japanese system integrator); arara (one of the largest private e-money and CRM solutions in SaaS market), ABBA Labs Inc. (ABBALab works for enthusiastic IoT startups).

Marketing

The project is covered in three languages, both on the website and in social media and communities. The blockchain community is interested in the project, and there are lively discussions on all the main platforms, where positive expectations are being voiced. Articles about the project can be found on many resources dedicated to blockchain, ICO and cryptocurrency. In addition, the news about its participation in the Japanese venture funds crowdsale for US$9 million was a good advertisement.

Contacts

The developers can be contacted via the following links:

Bitcointalk

Reddit

Slack

Telegram/Telegram/Telegram

Twitter/Twitter

Facebook

Blogs

The information contained in the document is for informational purposes only. ICORating received monetary compensation from the entity rated in this report for completing the ratings report. However, the entity rated in this report did not have the opportunity to approve this rating report before the report was published, nor did the rated entity have the opportunity to edit or remove this report once it was published. The views expressed in this document are solely those of the ICORating Team, based on data obtained from open access and information that developers provided to the team through Skype, email or other means of communication. Our goal is to increase the transparency and reliability of the young ICO market and to minimize the risk of fraud. We appreciate feedback with constructive comments, suggestions and ideas on how to make the analysis more comprehensive and informative.