Cool Cousin Rating Review
|Start ICO||10 Apr 2018|
|End ICO||11 Apr 2018|
We have reviewed project's progress as of December 2018 and mentioned that the team is behind their initial roadmap in terms of both adoption and technical features. The team promised to release updated roadmap by the end of 2018 in Telegram conversation, however, they did not do it. Therefore, we decreased rating score to "Risky".
This project has great potential, it has a working prototype which has already had a successful launch. The Cool Cousin product has the possibility to develop and improve in the future.
We were highly impressed by the team's high level of competence, their motivation, focus on results, and the fact that they have shown they are capable of developing and releasing serious products.
The use of blockchain and tokenization are justified. We see the need for having their own payment unit and understand how its economy will be formed.
Unlike many projects, we see the need of attracting individuals within the crowdsale as being greater than the need of venture financing. This is a necessary measure for growing the community around the finished product, which will be based on further development and scaling.
However, we feel that, some of the problems that the project is designed to solve are, to some extent, a bit of a stretch. We see problems in the positioning of the product's unique selling point. The customization of travel will certainly find its audience, but with the already highly competitive environment, coupled with the popularity of "packaged" solutions (for everything), could slow down and interfere with the process of market expansion.
We understand that the possibilities of the monetization of the tourist market are high, but at the same time we note that in the tourist market there is a scale of "necessity" of the service. At this point, we see the Cool Cousin product, as a nice addition, rather than as something necessary (such as the need for accommodation which leads us to Booking or Airbnb).
However, despite all the difficulties, we consider the project to be promising, and we are sure that with due attention to all of the above, that it can occupy a significant place in the future of tourism business and, perhaps, even become a “game changer".
General information about the Project and ICO
Cool Cousin is a project that allows the user to structure their tourism activity in a new way, using the services of local guides and experts in various fields of the tourism industry. A member of the ecosystem created by the Cool Cousin project team, has access to the "inside" information, based on their personal preferences, about life in the city they plan to visit without any intermediaries.
There are already existing services in the service industry which offer tourists ready-made bases for offers and rating systems for various objects of the tourist infrastructure. The product from the Cool Cousin team, however, provides users with the possibility to build live customized routes, as well as offering a range of supporting services that ensure convenient travel.
The Cool Cousin project aims to create a community intended for the effective and impartial sharing of knowledge. This community will give travelers the opportunity to find like-minded people among local guides ("Cousins") and make their travels more comfortable, eventful and interesting. Local guides ("Cousins"), members of the Cool Cousin ecosystem, will be able to monetize their knowledge and competencies using the capabilities of the application.
Blockchain of the project:
The application of blockchain technology solves the following tasks of the project:
Electronic agreements made in the process of using the product are ensured by smart contracts, which allows the project to build a system of transparent, understandable and unchangeable rules of how the application functions. This system best implements the technology for self-management of the user community and provides financial transactions between unfamiliar agents. The use of smart contracts realizes the principle of independence (and impartiality) between the company itself and the community. This will allow the ecosystem to realize the commercial interests of all users using these operating standards.
Blockchain technology will serve as an obstacle to manipulation of search algorithms. Since the approval of particular content is done by the community itself, it becomes impossible for a large number of related users to have an unnoticed consolidated impact on the system. Updating participants' data and transaction records ensures that the system is transparent and accountable which increases user trust.
Cross-border transfers of fiat money is a process requiring several days of processing and implying a commission fee for the transfer. Similar actions in the blockchain platform will cost less because of the lower rewards for those who handle the transfer process in the system. In addition, the transfer of funds will be made faster.
The project received positive coverage in mass media. The following specialized resources wrote about the project:
Bitcoin Magazine, the Bitcoin News, Bit$creener, etc. Moreover, the project was mentioned in online media such as the New York Times, National Geographic, the Wall Street Journal, the Guardian, etc.
Dynamics of the project development:
The project is developing actively, constantly involving new users in the ecosystem of the product. Below, in the diagram and on the map, you can see the growth of the project user community and the number of cities covered by the project, as well as the distribution of the project by country.
Pre-ICO — MAR 2018
Insufficient data in public access, data will be available after the Whitelist is closed.
ICO — APR 2018
Soft Cap: 4 000 ETH (approx. $2.9 mln)
Hard cap: 17 500 ETH (approx. $12.6 mln)
Token: CUZ, ERC-20 standard
ICO Price: 1 ETH = 3 770 CUZ
Accepted currencies: ETH
Total issue: 300 000 000 CUZ
• 33% — for sale during the ICO
• 10% — team
• 8% — ICO Advisors, early supporters, bounty
• 25% — community
• 24% — future operations
For sale: 99 000 000 CUZ (33%)
Allocation of funds:
- 45% Research and Development
- 20% Marketing
- 15% Administration
- 10% Operations
- 7% Contingency
- 3% Legal
The company "Cool Cousin Limited" was founded in 2015 and registered in the city of Tel Aviv, Israel. It also has an office in London, UK.
Description of the services and scope of the project
Cool Cousin is a tourist service that provides interaction between travelers and private guides. The solution of this problem is provided by the blockchain-platform with the internal currency of the project — CUZ. It is assumed that this currency will be used in the application to obtain various services.
According to the developers, their product offers an opportunity to those who have something to say about their city, to become a local guide ("Cousin") and monetize their unique, personal knowledge: «as Airbnb enabled people with an extra room to be hosts (not hoteliers) and Uber allowed car-owners to be independent transport drivers, we equip city influencers with tools to offer information and services and to find demand» (Whitepaper, p. 5).
The creators of the project consider millennials to be their target audience. This is a relatively large group of potential users who spend more time traveling and spending most of their money on it in comparison with previous generations. Millennials are also characterized by being greatly particular and demanding in the field of tourism services. Through this new customized service, the creators of the project are trying to satisfy the interest of a quite privileged and advanced audience.
The project team expects that the wide use of their product by various service members (users, guides and others) will create an organized, independent and self-governing community. In the future, this community will participate in the development of the project itself.
An important feature of the project is that it is already successfully functioning and actively gaining popularity among users. An ICO is one of the ways to attract financing, which at this stage will allow the project to implement the plans of developers in the near future.
Since the launch of the beta product in July 2016, more than 500,000 travelers have used the service to plan their trips to 65 cities that are currently covered by the app. More than 1 thousand local guides ("Cousins") are registered in the system.
At the moment, the IOS application and the Web version of the product are running and functioning. The release of the Android version of the application is expected at the end of this year.
Cool Cousin Community
The project involves the formation of the following community structure:
Local guides (Cousins)
Local residents of cities can create accounts on the Cool Cousin platform, available for viewing by travelers. Their profiles will contain information about various interesting places in the city and information about their personal preferences. "Cousins" will be able to earn tokens in different ways. First of all, there are tasks related to the project content: adding new tourist information, updating the content of your account, communicating with the audience and so on. Cousins can also interact with travelers by providing them with tips and information.
"Cousins" who want to operate in the system as travel agents offering specialized sets of services.
Travelers can receive free or paid information from "Cousins" or purchase tokens to obtain additional services and service opportunities. Users will also be able to earn tokens by participating in the development of the project and becoming partners.
Users can become project partners, earning CUZ tokens for product support and (giving)active feedback. This includes: gratitude to "Cousins", authorization of the places chosen by the guides, adding new photos or correcting the unsuccessful ones, identifying inaccuracies of the application and so on. In general, any participation in the improvement of the product is encouraged.
Users who made a significant contribution to the content of the application approved by the Community can acquire the status of editors. The editors will certify the content that is being provided by the partners and receive tokens for it. In the event of disputes involving the content of the product, the final decision will be made by the Council of Representatives.
Council of Representatives
The electoral rights within the Council will be distributed between the Company (35% of the votes) and the Community (65% of the votes). Selected "Cousins" among the most active and useful for the project will be able to become members of the Council. To keep the balance when solving problematic issues, the representatives of the company are included in the Council.
The following illustration shows an example of interaction with the Council:
In the future, the possibility of placing various entrepreneurs' accounts related to the subject of the project and recommended by one of the "Cousins" on the project platform is being considered. Special offers and materials published as advertising will be different from the original content of the product and will have to receive approval from the community.
Within the framework of development and promotion of the project, the formation and development of the following services are planned:
Cousins-Pro, who offer various travel supporting services to the tourists will be able to receive payment in CUZ tokens. Such services imply the availability of developed tourist routes, preliminary advice on travel issues, online availability and openness of the guide for interaction. Guides ("Cousins") will be able to set the cost of such services, focusing on the criteria of the local community.
Service of travel agents
Also, a part of the activities of the Cousins-Pro, is the offering of services commonly offered by travel agencies and implied participation of third-party agents (responsible for booking hotels, reservation of places in restaurants, tickets for events, and transfers). Travelers will be able to use CUZ tokens to purchase such services. The Commission fee in this case will be from 5 to 30 percent, depending on the third-party supplier. According to the developers, the Commission charged in such cases will be lower than that of traditional services.
Travelers will be able to reward "cousins" for the information provided and for personalized services. Rewards through tips are made in CUZ tokens that allow performing micropayments.
In addition to the basic capabilities of the service in the future it is also planned to create opportunities to integrate third-party businesses and various service providers into the service. Such integration will be done with the approval of the user community and certified by the Council of Representatives. In addition, this content will be separated from the main content of the application, so as not to mislead users. Such services from the project side will also be monetized.
City Affiliate Programs
The project interacts with the city authorities, which allows city administrations to promote and brand cities, using the capabilities of the Cool Cousin service.
Organizers of various events (festivals, seminars, conferences, concerts, etc.) will be able to create special layers on the maps of the Cool Cousin app which will allow them to spread information about upcoming events in order to attract audiences.
Discount offers, or offers valid for a limited time, can also be placed in the product applications to inform both "cousins" and audiences about them.
Various manufacturers will be able to create their own branded layers on the app’s maps to advertise their commercial offers.
Speaking about the market, which the described product is entering, it should be noted that it is an active and highly competitive market. The tourism market is one of the largest markets in the world.
In their TRAVEL & TOURISM ECONOMIC IMPACT 2017 WORLD report, the World Tourism and Travel Council estimated that the direct volume of the world travel market in 2017 was 2.3 trillion US dollars (3.1% of the world GDP). Taking into account the services and operating enterprises associated with this industry, the total volume of the tourism market reaches almost 8 trillion US dollars (10.2% of the world GDP).
The total number of people working directly in this segment, as well as those indirectly involved, reaches almost 10% of the total number of workers in the world.
The tourism market is one of the most steadily growing markets. All available information about the market allows us to predict its steady growth in the near future. The number of travelers from 1950 to 2016 increased 50 times.
Below is an excerpt from the diagram showing the growth of the number of tourists in recent years.
In general, speaking about volumes, it is usual to be guided by whether or not the market is developed enough, and whether this product will be able to take a sufficient share in order to secure commercial success. In the case in question, the market is so developed and large that there is no question of capturing a certain share to ensure the success and development of the project. Occupying even just 0.1% of the market can be considered a success of the project.
In this case, the development of the project directly depends on the quality of the product itself and the success of the competitive struggle in the market. Technical and service aspects of the product will be mentioned in other sections. Here it is necessary to pay attention to the competitive environment which the project is facing.
As previously mentioned, the competitive environment of the tourism market is very saturated. The market is not new or developing. In fact, the existing market of tourist services is divided among several big players. The market share, not covered by large players, is also an object of active competition.
Considering the potential of the Cool Cousin project in the market, it is prudent to identify the following sources of competition:
• Traditional services
• Similar services
A significant source of competition are the players already operating in the tourism market. These include services such as TripAdvisor, Yelp, Expedia (the company owns many different tourist services), Priceline.com, Airbnb, etc.
Together, these services cover most of the world's tourism market. Moreover, these services offer tourists a diverse and well-developed service. These applications include the purchase of tickets, rental of transport, rental of various accommodation, selection of interesting places to visit and so on. Essentially, these services cover almost all the needs of travelers. Some of these applications also implement the user content principle – in this case the content of the application is formed based on the audience's contribution to the product content.
The advantages of the aforementioned projects are: brand recognition and reputation, wide coverage and content, and good promotion strategies. Many users prefer this or that service, being guided by the popularity of the brand. In general, the services with a wide coverage and good content, as well as the ones that are actively promoted in the market, are very popular among users.
However, such services have a number of fundamental disadvantages. In most cases, all major services offer routine solutions and standard scenarios for choice: Personalization of travel for a particular tourist is difficult. Another drawback of such applications is the unreliability of the information they provide — the algorithms of these services are not protected from manipulations, spoofing, fake reviews and other things.
It is also necessary to expect potential competition from similar tourist services. Services such as Spotted by Locals, Like a Local, Guidepal and others are present and developing in the market. These services also offer services similar to the Cool Cousin project. One should understand that the presence of a blockchain-solution and the internal currency of the application will not interest users or influence their choice.
In the case of the giants of the market, competition is difficult, but its strategy is clear. And in case with more or less direct analogs, success of competition directly depends on the quality of content and the strategy of promotion. A separate threat to the project is the ability to merge in the eyes of the consumer with other applications of similar nature, which can critically affect the success of the promotion.
Summing up the above, we should note some of the expected scenarios of the product development for Cool Cousin. The main directions of the application (in addition to the technical component) lie in the field of market promotion. The success of the whole project will for the most part depend on the success of the chosen marketing strategy. The unique trade offer of the product should be identified as clearly as possible, and the project should focus on it. This will allow the project to create a recognizable brand in the initial stages so that in the future further efforts of the project team could be made for its promotion.
In general, the project will inevitably face fierce competition in a very serious market, and it will be developing under these conditions.
Team and stakeholders
When characterizing the human resources, involved in the development of the project, it is necessary to mention in advance, the division of the project environment members into Project Team and Project Community. The existence of two independent structures, implementing the principle of checks and balances, is certainly an advantage of the project.
The company's efforts are focused on the growth, development and maintenance of the Cool Cousin project. The team is engaged in working on the improvement of functionality of the product, expansion of the client network and promotion. The project team (which will be described below) includes development specialists, designers and product managers. Advisors in the sphere of business development and marketing facilitate the development of the project. The company's mission is to create and promote a new ecosystem of guides and travelers and to form a functioning independent Community of project members.
The project Community is a self-managed ecosystem comprising local guides ("Cousins"), travelers and other potential project members described in the section on the product services. Community members play an important role in forming and verifying the product content. Community members are awarded with CUZ tokens in accordance with their contribution to the development of the project. Project management functions will be delegated by the company to the user community as it is formed. The community competencies will be extended up until the point it becomes an autonomous and self-governing unit.
The project team includes the founders of the project, developers and advisors.
Speaking about the founders of the project, it should be noted that most of them have fairly extensive experience of working together. This positively characterizes the team of the founders of the project, as it speaks about their team spirit.
ITAY NAGLER — CEO. He has extensive experience in the field of startups and digital marketing. He is the founder and manager of many innovative projects. In the past, founder and manager of the D. Tales agency, engaged in digital marketing and collaborating with major players of the market (Nestle, YES, HBO, P&G)
ITAMAR WEIZMAN — COO. He is well experienced in the field of digital advertising and attraction. Participated in the launch and running of political campaigns.
NADAV SAADIA — CMO. He was also a co-founder and manager of the D. Tales agency. He has vast experience in conducting various events and campaigns.
SHACHAR COTANI — Head of the Production Control Department. He has experience in the field of branding, in the field of user-experience and in the development of websites for e-commerce. He has extensive experience in conducting various events and campaigns.
GIL AZRIELANT — CTO. He has great experience in the field of blockchain development and is a specialist in computer science.
The team is very competent, most of their experience was easily confirmed. The team is open to dialogue and interested in receiving feedback from users. We positively assess it, and see its big role in the future success of the project.
CUZ Token is a utility token that is the basis of the Cool Cousin tourism platform.
Using the CUZ token will create a decentralized ecosystem for travelers, local residents and companies providing various services.
CUZ is an open source token created for the exchange of travel services and of unique local information between platform members. The token is a unit of exchange within the platform ecosystem and is designed to encourage the side of the offer (Cousins) to create content and offer their services for payment in CUZ.
By its nature, the issue of the token is fixed, it will not be increased in the future, so the token is not inflationary. For comfortable interaction within the platform, the token is divisible.
The CUZ token is indeed an important element of the ecosystem. It allows any person to monetize their hard-earned knowledge of the city or terrain, while saving travelers a lot of time and money before and during their travels. They are called Cousins and are the main side of the offer of services and information. Cousins can have a normal and PRO-status, which provides great opportunities and exclusivity of services.
The purpose of the Cousin is thought out and understandable. For many freelancers, people who know their city well, the platform will be useful, as it will allow them to have an additional source of income, and they are sure to want to use it. It should be noted that the employees of tourist companies providing guide services would also be interested in participating in the competition and getting an opportunity to work independently.
Travelers who use the platform, want to get the most reliable information from the locals. They find a suitable Cousin and interact with them. They can get information, as well as, personal guide services, booking services, concierge service, etc. Looking back at the success of Airbnb as a service, many noted that not only was renting a house through this service is more beneficial and more convenient than through other services, but also the interaction with the locals, their advice and stories were very useful.
There are several "roles" for members on the platform. These are the already mentioned Cousins & Pro-Cousins, who provide services and information, travelers who are using services, the authors and editors who make the platform better and receive rewards for it, the Council of Representatives together with the company, as the main body of interaction between Cool Cousin and the community, and business owners who wish to get traffic for themselves from the platform.
We see the company's desire to create a truly decentralized and sufficiently autonomous system in the tourism sector. P2P interaction has a great future where there is a high motivation on the supply side, which is well thought out in the case of the project.
The project has a great potential for the interaction with various participants, be it hotels, cruise companies, municipalities, restaurants, exhibitions, etc. Opportunities to monetize and use the token are sufficient for the organic development of the platform for a long time ahead.
The possible strong volatility of the token exchange rate may create problems for platform participants who are accustomed to fiat money. We look forward to a decrease in the volatility as the platform evolves, but for now this will be present.
Of course, we don’t believe that tokenization and blockchain always bring added value to the product. For example, on AIRBNB all payments are made in Fiat, it has a platform function, but it is centralized, and successfully operates in the travel and booking market. However, the sphere of information and guides, in our opinion, is much more accessible for consumers and service providers. This means that not everyone will be able to work within the framework of a contractual relationship, with all the verifications and complex tax consequences. Also, the project involves participants, such as authors and editors, who create content and try to close the interaction between each other without the participation of the Cool Cousin platform. It is noticeable that the platform wants in the future to be only a supporting and technological solution without the use of the scheme of providing services and quality control. We see a great future in this and believe that the introduction of their own payment unit is justified, fulfills the tasks set by the company and will be highly appreciated by the target audience of the project.
Analysis of factors affecting the future value of the token
I. We have divided the factors that determine the value of the token into 2 phases: Before the platform is fully functional, which is important for investors during the ICO phase, and after it becomes fully functional.
Prior to the introduction of a full-fledged platform for interaction, the main factors influencing the rate of the token will be:
- Possible investor sales during PRE-ICO, which can potentially exert pressure on the token price for up to 1 year.
This risk is always inherent in projects that have a stage of pre-sale. Since the launch of Cool Cousin 3.0 with wallet support is scheduled for Q3 2018, some pre-sale investors will not want to take the risk of an unsuccessful launch and will fix bonuses during 2018. However, the project provided a serious timeframe for vesting for the pre-sale investors, which will allow them to neutralize this factor somewhat.
- Possible sales by Advisors. As 8% of the total token issue is allocated to the Advisors, we see a potentially strong impact on the rate after the end of the lockup period of 9 months. Many advisors, traditionally, having performed their function, want to convert their tokens to fiat. However, the project is aimed at long-term cooperation and work with advisors and, when demonstrating the results of work on the product, it is necessary to expect reduction of the impact of this factor.
- Release delays by the project. Following the roadmap is one of the key factors at this stage. Timely presentation of the performance of the platform, wallet, application on Android — all this will show the degree of responsibility and diligence of the team, as well as their proper prediction of their own strengths and capabilities.
II. After the platform is fully launched, we see the following effect on the token:
- Sales by the team and other affiliated members of the distribution. As mentioned above, due to an imbalance in token distribution, investors can be frightened by the drop of token rate from the sales by the team, bountists and advisors, which will cause a decline when the end of the lockup period approaches. It should be noted that 10%, which is owed to the team, is blocked for 2 years, which indicates their confidence in their product and strong motivation in the future. However, it is impossible not to mention this factor.
- The need to purchase a token to use the platform service will cause a demand in the market, which entails an abrupt growth of the token rate. Especially, if the project implements a simple purchase of tokens in the application, then purchases and sales will occur "at the market".
- Cousins, who are service providers, will most often want to sell tokens on an exchange without keeping them in their wallets. For them, it will be a source of earnings, which they might want to spend on something else, becoming participants in the economic system outside the sphere of tourism and travel. This will create a strong side of the supply in the market and will entail an abrupt drop of the token price.
- The same applies to the authors and editors who are motivated by the scheme "earn token — sell token".
- From a long-term perspective, we see a lot of potential in the use of the token on the platform as more and more participants are connected to it. The more agents there will be in the ecosystem, the less impact there will be on the rate, because the liquidity will be absorbed by a large number of participants, which leads to a greater circulation of the token, and as a result should decrease the number of "jumps".
- Since the issue is fixed, in order to ensure initial demand and entry, the token rate will have a long-term growth trend that will correlate with the growth of the number of participants. This is due to the fact that there will be an increasing number of
A) Regular travelers
b) Professionals in tourism (guides, concierges, etc.).
Thus, more and more unsold tokens will settle in the wallets since when those selling receives tokens, not everybody will immediately sell them in the market. This will create cyclic and noncyclic token deficits, which would cause the rate to grow.
- Tourist business depends very much on the seasonality factor. Holidays and vacation periods will coincide with the increase in demand for the token, and the end of the season and stagnation are likely to lead to liquidity outflows and the price adjustment of CUZ.
Most of the factors that affect the price are common for utility tokens. For "entering" into the platform, people buy tokens, for earning and spending outside the ecosystem they sell the tokens. Ideally, especially in case of great turnover, it is enough to create an additional motivation for storing tokens in the wallet to make a skew of 1-5%. This will really cause a "calling in" effect, which leads to the deficit and growth of the rate. This is possible when implementing the product, receiving feedback from participants, and making changes during the platform debugging process.
We note the positive effect of the long vesting and lockup periods. We do not see the acute risks of short- and medium-term decline of the rate; everything will depend on the success of the launched product, the openness and competence of the team, following the road map.
In the long term, we see a great potential for occupying a part of the global tourism market. This allows us to talk about the stability of the token price in the future given the realization of the inherent potential and the lack of implementation of risks during the project development.
Investment risk analysis
1) One of the main risks we see is the competitive environment and the failure to accept the product by the global market, without this successful development it will be impossible.
The tourism market and the travel industry are extremely complex and competitive. We understand the problems of unreliable information and false reviews, however, a large number of rating services, like TripAdvisor, are attempting to eliminate the error of "cheating". For example, it is very rare to find that the rating distribution of restaurants is extremely distorted and does not correspond to reality. Even if there are inaccuracies, there is no need to create a whole new service in order to try to remove them.
People who will build their tourist route or plan a trip, at the moment, would rather turn to the ratings and reviews of successful services, rather than to the local but unfamiliar person. In addition to exclusive and representative information about the area, one might be faced with incompetence and poor service. And since it is filtered by the same rating system as other services, the counterparty problem in many ways remains, just in another way.
2) The second risk is the rejection of the token. With all its usefulness, it will be difficult to obtain widespread distribution of the token at the moment.
It is extremely important for the platform to have a presence almost all over the world. Many travelers will be unhappy to learn that to use the service it is necessary to perform additional actions, or they might just be scared away by the crypto market. If a huge service like AIRBNB can function without a token, why can't the project? Yes, there is a function of rewards, smart contract-based interaction within the platform and a decentralized model of interaction, but is it so necessary? A user will ask all these questions when deciding whether to use the service or not.
3) Risk of strong price volatility. Any payment instrument suffers from a strong volatility of the price. Given the high correlation with rates of other cryptocurrencies, a daily change of 20%, for example, might mean that a Cousin, who provides a service, may work with less diligence, knowing that they will receive less than expected. The same principle also works in the opposite direction, a traveler might think that they overpaid, and it would leave a negative tinge.
4) Liquidity risks. If there is no market-making mechanism or there are no players on both sides in the market, it may be impossible to buy a token to use the service or sell a token for conversion to Fiat and further withdrawal. It only takes a few situations like this for a strong reputational failure of the project. It is possible that future mechanisms and token reserves will allow managing liquidity, but at the introduction of the payment unit there is always the risk of "dead market" and of the inability of one of the parties to realize the purchase or sale of a token at a "fair" price.
5) Tax risks for service providers. The difficulties in regulating the crypto market still scares off many supporters of the traditional economy. In many developed countries this can be a problem, because freelance and other earnings need to be declared, perhaps it will be an obstacle for Cousins in the countries with developed economies.
6) Risk of delay in the product realization. We do not doubt the competence of the team in many areas, including marketing, tourism, and programming. However, blockchain-solutions can be more complicated than believed in the beginning of a product implementation/modernization. In the current phase of the overheating of the crypto market, we see a shortage of experts in blockchain programming, and the ability of the team to solve all the tasks inhouse is very important. With delays in the implementation of points in the roadmap, we can say that the team has set themselves too complex tasks that require either more effort from the team, or more people for the implementation of the product.
7) Risk of abrupt drop of the token price. The constant competition between guides, the drop of Bitcoin and Ethereum, and strong sales by holders, makes these possible factors which could cause the drop of the price of the token. In case of a long-term phase of decline, the token can stop being interesting to the members of the platform as it will not show itself as a reliable payment instrument which can be stored in a wallet for at least several days and only be used for making payment transactions with Cousins.