Around two decades ago, the internet bridged gaps all over the world and created new opportunities and business models, which have now seamlessly integrated into our everyday lives to the point where we cannot fathom functioning without services such as Amazon, Uber or Google Maps.
Since blockchain technology seems the perfect candidate to take internet’s achievements one step further, it is only fitting to see solutions that intend to build upon the already available opportunities in order to enhance them for the next generation.
One such service seems to be ARAW, which wants to take the already successful model of e-commerce and improve it by resolving the issues that customers face in this day and age.
The result: a seamless and stress-free experience that would let users enjoy online shopping while having the peace of mind of being safe from scams and credit card frauds – all while making cryptocurrency a feasible method of carrying out day to day transactions.
What is ARAW Token and What Does It Do?
ARAW token aims to revolutionize the online shopping experience for customers by integrating cryptocurrency as an easily usable commodity by those who are not that familiar with it.
It is a widely presented notion that cryptocurrency cannot surpass fiat due to its complexity of usage. The idea here gets to be that most people stay away from cryptocurrency because they do not want to go through a complex series of lessons only to use a new form of payment, especially when the more established method of fiat seems to be working just fine.
However, “just fine” does not mean that the method is perfect. Almost all payment methods powered by fiat get to be centralized, involve heavy transaction fees at times, and most of all require users to employ stringent security requirements at their own expense in order to protect their funds, whether they are available in the form of physical value or stored in their bank accounts.
The usage of cryptocurrency in everyday transactions resolves all these concerns and more, since most cryptocurrencies tend to be decentralized and thus do not give a single party any control over someone else’s funds, provide a way to perform faster international and high-value transfers at cheaper costs, and employ the highest level of security that any financial asset could implement in today’s day and age.
With that being said, the aforementioned notion of seeing cryptocurrencies as a more difficult mode of the transaction still remains prevalent, and that is where ARAW comes in.
The blockchain based solution intends to provide cryptocurrency payment options to the everyday customer of e-commerce websites, without them having to get into intricate wallet addresses or transfer methods just to complete a regular purchase.
ARAW achieves this through its integration of everyday processes into its blockchain, where users can pay for their purchases on an ARAW powered e-commerce website through the click of a button like PayPal, or by using an ARAW supplemented cryptocurrency debit card that would work as similarly and as effectively as any Visa or MasterCard.
In addition to this, ARAW will also allow the integration of conventional banking systems within its platform, while also providing users with the ease of making peer-to-peer transactions.
This provision of services that are somewhat only exclusive to fiat transaction in the mind of a majority of people makes ARAW a viable solution for those who want to take advantage of using cryptocurrency in order to prepare themselves with the utilization of these digital assets of the future, without having to go through the intricacies that come with them.
The platform is based on the Ethereum blockchain and uses its proven security to further strengthen its own value proposition.
About the ARAW Token and Its ICO
The ARAW has an eponymous ERC20 token which is utilized to run all operations on the blockchain platform.
The ARAW token is used as the platform’s primary instrument of value and exchange, where it would be able to be exchanged with other cryptocurrencies easily through ARAW’s wallet and integrated exchange system.
The token is currently going through its pre-sale phase where its soft cap of 320 million ARAW tokens has already been reached. The pre-sale started on July 1, 2018, and is scheduled to end on August 30, 2018.
The value of 1 ARA is pegged at $0.01, while 70% of its total token volume will be up for sale. This means that out of 5 billion ARAW, 3.5 billion will be going out in different sale phases.
The token distribution model is outlined below.
15%: Reserve Pool
3%: Bounty & Airdrop
9%: Founders & Team
70%: For Token Sale
Whereas, the fund allocation for the ARAW token has been defined as outlined below.
37%: Sales and Marketing
35%: Research & Development
10%: Security & Legal
3%: Customer Support
The team behind ARAW seems capable, with both its co-founders holding significant experience within their respective fields of banking solutions and technological development.
Co-founder and CEO Krutesh Shah has worked for financial institutions such as Barclays; whereas co-founder and CTO Carlo Pascoli has helmed teams at institutions such as Thomas Reuters as well as breakthrough solutions like Shazam.
The other team members also boast of notable experience within their area of expertise and have links provided to mostly pre-set up LinkedIn profiles.
Is ARAW a Good Investment Choice?
With its proposed solutions to bring cryptocurrency to the mainstream, ARAW is aiming to become one of the top contenders in the cryptocurrency space when it comes to real-world usage of these assets.
While it is certainly an ambitious feat to accomplish, if ARAW can get it done in a timely manner, then it would set it apart from many other up and coming cryptocurrency projects that have boasted of achieving the same results but have faltered in the delivery of their offered solutions. It just remains to be seen whether ARAW takes the same path as them or sets a different course of action for itself.