Retail Tech Pioneer OSA DC Celebrates Successful Token Sale
In the blockchain startup world, OSA DC stands out as one of the few projects with real technology that has been proven in the field. They have created innovative blockchain and AI applications for retail, the world’s biggest industry, and developed the world’s first decentralized marketplace, providing solutions for retailers, manufacturers, and consumers.
Tokyo Event
OSA DC closed their token sale on August 31st, 2018, holding a private event at the Shinagawa Prince Hotel, Tokyo, Japan. The results were announced in front of 150 prominent members of the Japanese and international blockchain communities.
OSA DC co-founders, Alex Isaiev and Maximilian Musselius at the Tokyo event.
Having reached the token sale target of a 40 M hard cap, CEO Alex Isaev commented,
On behalf of the OSA DC team, I am grateful for all the support and help that has been received from the 74,425 community members, institutional investors and family offices from the USA, Europe, the South Korean Republic, China, and Japan, who made the decision to support us. Your votes for us and your faith in our decentralized platform made all the difference to our success. We will use your contributions to solve 500B worth of loss in the retail industry, that will enable retailers to improve product quality, deliveries, service, and ultimately, a better shopping experience for all consumers.
Major investment funds and early backers from various countries supported OSA DC with their investments.
Among the long list of valuable partnerships signed during the eight-month roadshow were Cobinhood Fund, CoinEgg Group, Gigawatt, Mars Finance, Osnova, Benrui Capital, UnU, and Xblock.
The OSA Utility Token
Managers at partnering supermarkets agree with OSA’s founding team of data scientists that cryptocurrencies, including OSA tokens, will be the standard, widely-accepted form of payment at grocery stores and other retailers worldwide. As a result, consumers will be able to use OSA tokens to pay for B2C services, receive exclusive promotional offers and, of course, purchase groceries at major supermarket chains in Europe, North America, and the Asia-Pacific region.
The OSA utility token has a three-fold purpose:
1. Network Fuel: to drive the blockchain ledger and smart contract functionality and enable real-time data collection, storage, enrichment, and analysis
2. Payment Method: For innumerable business-to-business transactions and business-to-consumer services within OSA platform
3. Platform Reward: For data sharing and as an incentive for brand-specific promotional campaigns
77.5% of OSA Tokens will be used for the future development of the company, and 22.5% will be distributed to contributors 30 days after the token sale ends. Tokens that were allocated for the sale but weren’t sold will be burned.
The OSA DC platform is live, but more development is on the way. An ambitious schedule of further development and the creation of new features for the OSA marketplace have been started:
• Expansion to Japan, Korea, China and the USA
• Product catalogs and business development
• Continued AI development, and a B2C/B2B digital assistant (Alpha version)
• Product rating system
• Decentralized infrastructure enhancement
• Consumer edition (Alpha version)
______________
* The number of tokens sold, and the corresponding estimate of the total sales volume, are preliminary and will be subject to adjustment upon completion of all appropriate KYC procedures for all contributors. According to the terms of the token purchase agreement, the KYC process will take 30 working days after the completion of the token sale, and may be extended by up to an additional 30 calendar days in the event the company deems it necessary to conduct additional ALM and KYC checks in respect to certain token buyers. The contributions to the company’s token sale were made in five different cryptocurrencies (BTC, LTC, BCH, ETC, ETH) and two traditional currencies (USD, EUR), and the total sales volume may be subject to change according to the exchange rates for each currency.
______________
Learn More
• Learn more about the OSA DC platform, team, roadmap, and more at osadc.io.
• Join their official Telegram group to connect with their team and users community at t.me/osadecentralized.
______________
Cover photo by Scott Warman. Originally published on Medium.com.