International Auto Club (IAC) is a blockchain-based automated platform facilitates with cashback services, partnership programs, affiliate program and payments systems. Unlike other ICO’s, IAC is not a startup project, the corporation is fully developed and is the biggest cashback service in Russia. With its plan to move the business to blockchain technology, it aims to offer its clients with more effective solutions. Currently, IAC is at the expansion stage where it is planning to provide its services to other countries.
IAC aims to be the bridge between consumers and businesses, in order to provide a win-win situation for both where neither the consumer pays mor,e nor the business loses money in the competitive market. In general cashback services aim to benefit a single entity and not both, where IAC benefits both.
Additionally, at present, there are no systems that allow cashback payment system in cryptocurrency. The International Auto Club ICO presale begun on January 25, 2018. AutoToken will be an IAC’s token, and 85,982,639 tokens will be released. Tokens will generate progressively as the sales advance.
Existing Problems in Cashback Industry
The project aims to facilitate offline businesses with cashback services which are unique in itself as most cashback systems target online businesses. IAC wants to enter the market where there is lack of trustable referral systems, cashback service, and partnership programs. IAC will be in all in one.
The present cashback services are not that effective as in most cases they only benefit a single entity. The IAC aims to narrow the buying and selling margin of goods, where both the buyer and seller benefit. It will be the only platform with a cashback service that has its own payment system. Moreover, there are no services that offer cashback service and multilevel referral system at the same time.
The existing cashback ecosystem mainly furnishes the online space. However, with IAC platform offline business will also be part of the cashback service. Blockchain technology plays an important role for the further advancement of the IAC platform. Additionally, decentralized technology keeps data safe and immutable. It will operate as an independent, decentralized digital system which will restrict access to hackers. The IAC whitepaper states, “Blockchain provides additional transparency and security and also allows to list AutoUnit on the stock exchange.”
Solution to the Existing Problem
The platform offers more opportunities and mutual benefits for buyers and sellers. The platform will also help offline business to increase trade volume with its huge established client base. Moreover, it also can earn from referral programs.
How Does the Platform Work?
Both consumers and enterprise register free of charge. Consumers can avail discounts and offers on the platform while businesses can benefit from the burgeoning client base. Once a consumer is registered, one can make use of the referral program. For enterprises, the Autobonus program is available which will maintain records of purchases. The platform also offers customers to withdraw funds into fiat money. Registered enterprises can get discounted rates on paid services such as advertising, internet marketing, website creation and mobile applications. Registered consumers can pay with the internal currency for purchasing goods and also get access to the partner programs.
Why Choose IAC
IAC has three major advantages in the competitive market of payment systems and cashback services. These advantages are – Multilevel recommendation system, cashback in offline businesses and platforms currency.
Multilevel Recommendation System
Most of the present day cashback services offer one-level recommendation system, whereas IAC platform offers nine cashback levels making it more profitable for consumers. In simple words, you will not only be rewarded for the friend you invite but also for the individual that your friend invites. The reward process continuous for nine levels and rewards are allocated based on the recommendation position one holds in the chain.
Cashback for Offline Businesses
Akin to multilevel recommendation system, most cashback services only serve online stores. However, with IAC, over 12,000 offline stores are represented on the platform. Moreover, IAC claims that it offers the highest percentage of cashback in the largest online stores. A mobile application, Autobonus, is also available where consumers get cashback as a substitute for discounts.
IAC offers its consumers to pay for purchases of over 20,000 types of goods and services using its own currency. In addition to that, referral rewards and bonuses can also be used to buy new things on the platform.
Token Sale and Fund Usage
The IAC will emit 85,982,639 AutoTokens at a price of $1. Additionally, the company intends to release 3,000,000 AutoUnits – an internal currency for the company’s platform. The ICO will take place in five stages including the presale. The presale started on January 25, 2018, and ends on March 18, 2018. The stages of the ICO and the discount on coins are listed below.
- Presale – Jan 25 – March 18, 2018, discount = 20 percent, discount for partners = 30 percent,
- Stage 1 – March 26 – April 22, 2018, discount = 15 percent, discount for partners = 20 percent,
- Stage 2 – April 30 – May 27, 2018, discount = ten percent, discount for partners = 15 percent,
- Stage 3 – June 4 – June 24, 2018, discount = seven percent, discount for partners = ten percent
- Stage 4 – July 2 – July 22, 2018, discount = three percent, discount for partners = 22 percent.
According to the whitepaper, the company intends to sell 70 percent of its tokens, while leaving the rest for project’s team and advisors and participants of the bounty.
The procured funds will be distributed as follows:
The whitepaper states 58 percent of the funds will be used for developing payment system which includes linking offline business to the payment system, implementing payment solutions within the Autounit system, put in an option to make payments inside the ecosystem via other cryptocurrencies and open branches of the bank in other countries.
Then 32 percent of the funds will be spent on a marketing strategy that consists of marketing strategy, media research, PR agency fees and creating new marketing tools. The remaining ten percent will be spent on technological development and support of the ecosystem that includes hiring professionals to join the team, training staff and development of subprojects.
The total amount that the IAC aims to acquire is $50 million. If it succeeds in obtaining the funds from different stages of the ICO than 29 million will be spent on developing the payment system, $16 million for marketing and $5 million for technological development of the platform.
At present, the company has over 600,000 users with a turnover of $8.3 million dollars. Based on the strategy if the company reaches its goal of two million users in 2018, the expected turnover would be $33.3 million. It also aims to reach a mark of ten million users in 2019; if it does manage to reach the mark, the company will have an estimated turnover of $250 million.
The IAC team consists of highly experienced and skillful individuals. Valery Schelkonogov, IAC Corporate President, is a businessman with an experience of 30 years. He has expertise in the auto business, insurance, and production. Evgeny Schelkonogov, IAC Chairman, is an entrepreneur and investor who possesses an experience of 18 years in fields such as auto business, construction, insurance, information technology. Sergey Zaycev, Head of IAC Discount System Development Department, is an auditor holding an experience of over ten years. He is a certified specialist in Applied Informatics in Economics.
International Auto Club aims to revolutionize the cashback services industry and affiliation programs. The ICO seems to have great potential as it has a backup of its existing 600,000 users that back the company. With the introduction of the blockchain, more users are expected to make use of the company’s cashback services. IAC is a clear-cut solution to the existing issues in the cashback prices market, where there is lack of trust and transparency. However, IAC employing blockchain will raise trust and make the entire ecosystem transparent. More information on International Auto Club ICO is available in the whitepaper.
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