Indonesian company Frasindo has been operating since 2013. Its main activities include car rental, driver hiring, and online taxi business. Frasindo has been authorized by the Indonesian Government to run its activities. The pool of their official partners includes the likes of UBER, GRAB and GOCAR. Or, ‘online taxi’ companies, as they are referred to in Indonesia since they are not able to operate here like in other countries. That is where Frasindo steps in, as an intermediary. The cooperation between them means that Frasindo provides drivers and vehicles to the aforementioned companies. Its next move will be a public car renting service. This is in its planning stages as we speak.
The company released its FRAS COIN in 2016-2017. This term is short for “Frasindo Rent” and represents a self-sustainable blockchain and startup incubator. Frasindo first issued its coin via two blockchain platforms – Stellar and Ardor Ignis. The platforms where you can trade this coin include the Stellar/Ardor asset exchange, as well as the Coin exchange. The Stellar/Ardor option for exchange will provide you with free trading in the FRAS COIN – without commission. If you do decide to transfer the coin through your Ardor Ignis or Stellar wallet, a commission fee will be obligatory.
As a potential investor in the Frasindo ICO, you should do at least some basic research about its team. Like you would in case of any investment. Members of the Frasindo company’s core team include several main associates and co-founders. They are all listed in the Frasindo whitepaper. The CEO and founder Sandy Budiman S. is an experienced entrepreneur, investor trustee, and humanitarian activist. He specializes in finances, crowd management, and local crowdfunding. Lidya Francisca is the company’s BOD and co-founder. The other co-founder and chief operating officer is Yohanes Joko M, also acting in the capacity of adviser and researcher. The rest of the core team consists of developers, front-end planners, back-end experts, and graphic designers.
As stated on their website, Frasindo is a self-sustainable incubator for startups and blockchains in Asia. Their goal is to establish a secure and transparent business venture. In addition, their mission statement claims that Frasindo is backed by real assets, namely its taxi business profits. However, details on their self-sustainability have not been concretely specified.
Besides, there are other factors you would want to consider when deciding on a possible investment with Frasindo.
For starters, they are making continuous efforts on increasing their security and overall performance. They do so by broadening their pool of developers and IT experts. Secondly, KUPU, the central bank of Indonesia has given Frasindo legal authorization to run its operations. Also, the company is under supervision by Otoritas Jasa Keuangan (OJK). OJK stands for Financial Services Authority of Indonesia. It is an Indonesian government agency regulating and overseeing the sector of financial services.
In addition to this, Frasindo is in the process of establishing a tighter security system. It promises to update services and render them available and accessible for its users. Those services imply a 24/7 surveillance setup, vehicles equipped with 3 GPS trackers and continuous mobile phone updates for all users.
As of now, the FRAS COIN crowd sale is in full swing and will take place until April 15, 2018. Frasindo offers a very high return margin, up to an annual profit of 37.96%, and 8.88% as the minimum.
The company has an explanation for such a business policy. Namely, when making your investment, your assets will not be locked as in the case of bonds and bank deposits. Additional rewards include free use of their vehicles and drivers’ services.
All the perks and benefits promised by the company sure do sound enticing. However, we still think additional research would be a good idea before reaching for your wallet. Even then, it would be advisable to start small and see how the platform develops.
For more information about this platform and investment opportunity, we advise you to check out their website.