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CAS: When a Utility Token Actually Delivers Greater Utility and Functionality

The ICO gold rush has produced thousands of utility tokens and platforms claiming to have solutions for a variety of problems across many fields. Yet, the lofty value propositions many companies make regarding their utility contrasts with the reality that a clear majority of these tokens will never hold any real value, or even utility. The problem is that utility tokens are only valuable when they are backed by a platform that offers functional services, and most ICOs never actually reach that stage. Studies have shown that despite their best intentions, more than half of ICOs that have been launched since 2016 have either failed or are on their way to failing.

 

These shortcomings raise serious doubts about the viability of utility tokens. However, the reality is that utility tokens are not a bad concept in and of themselves, but instead presented as a promise rather than a tool. Many companies will offer tokens for future services without providing any real proof of concept, minimum viable product, and in some cases even a real white paper to support their claims. In the end, users invest blindly in these projects with the expectation of future utility—a promise that is not always fulfilled.

Even so, there are some companies which opt for a different path, focusing on creating a service that is fully functional and operational before unveiling it to the world. Such is the case with Cashaa, a blockchain-based financial services platform that already offers a variety of services with several more in the pipeline. The company’s CAS token highlights one of the strongest examples of how embodying a strong product at launch can significantly boost the odds of a sale’s success.

How the CAS Token Delivers Value

For Cashaa, the mission has not been to raise capital for capital’s sake, but rather to strategically expand on existing services. The company was already operational before launching a token sale. An MVP version introduced in 2016 helped to harness the data that eventually contributed to Cashaa’s current platform. Instead of seeking crowdfunded capital in anticipation of having an idea to launch, Cashaa focused on constructing a strong platform (which was extensively beta tested by 2017) before initiating their token sale preparations in late 2017.

This model—one which many ICOs ignore—built a solid foundation and ensured that once users received their tokens, they would be able to use them immediately to tap into a variety of services. The company has already introduced several of their key services, including their online banking capabilities, which allow users to begin migrating their financial services from traditional banks onto Cashaa’s platform.

More importantly, Cashaa’s services provide ample utility for both individual and business users. For a utility token, a working platform is paramount to functionality. By onboarding more users, Cashaa has fostered an ecosystem that is constantly improving for its CAS holders. The company’s real utility arises from CAS’s application to the company’s services.

The CAS token is integral to unlocking Cashaa’s many multifaceted services. This includes trading tokens for both crypto- and fiat currencies, as well as opening up the company’s lending and banking services. CAS holders can use their tokens to pay for the company’s premium services which include top tier financial services such as opening credit lines, lending, and exchanging currencies as well as reducing transaction fees for remittances made through the Cashaa app.

One of the more interesting uses of the CAS token relates to the company’s lending service, which allows users to access loans at lower interest rates than users who request financing without tokens. This gives CAS tokens greater demand and utility as it becomes a key element for unlocking the best possible services on the platform. Additionally, CAS is vital for ensuring the transparency and trust of transactions, with tokens being held in escrow via a smart contract until a transaction or trade is concluded.

Another intriguing use of the CAS token is to create a virtual credit score for Cashaa users. When individuals fulfill specific conditions, such as paying back loans, they are rewarded with CAS, which in turn unlocks better rates and services. On the other hand, users can put down their CAS tokens as collateral to vouch for borrowers, reaping the rewards when conditions are met or loans are repaid.

Creating the Right Conditions for Utility

Unlike companies that treat their utility tokens as de facto fundraising tools, Cashaa has taken a more measured approach. The company found ways to add real value to their CAS token by making it an integral part of their service, and one that has multiple qualities. Instead of a simple cash replacement, CAS can be used for a variety of services, helping unlock greater functionality and utility on Cashaa’s platform. At the end of the day, a token is only as functional as the value it adds, and by focusing on providing greater utility to all CAS holders, Cashaa has already distinguished itself as a leader amongst the crypto community.

Learn more about Cashaa Click Here

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