The term FRAS COIN stands for “Frasindo Rent”. The Frasindo company is based in Indonesia and is mainly dedicated to the car rental and online taxi business. As such, it has partnered up with companies such as Grab, Uber, and Gocar. Namely, the Indonesian market regulations forbid foreign companies to provide such services. This prevents those companies from working in Indonesia as they do in other countries. In order to be able to operate, they have made a partnership with Frasindo.
So, this is the main aspect of Frasindo's operations. However, they are planning on making some additions. The main one is the “FRAS COIN”, announced as a startup incubator based on blockchain technology.
Frasindo has also made it clear that it is planning its next chapter as a self-sustainable venture. But how can achieve this? Well, they have stated that they generate their regular income through the car rental, driver hiring, and online taxi business. As explained above, this is in partnership with Grab, Uber, and Gocar. As for the FRAS COIN itself, it will receive the backing of income generated this way. Also, the founders have stated that it will run in strict accord with the Indonesian government regulations.
The Frasindo platform aims to include its members, and create an open community in which users vote for the best ideas. The majority of votes will then determine the realization of development projects within the FRAS COIN platform. The company itself promises to bring funding, expertise, and leadership to the table.
The company relies on real assets and, as such, is self-sustainable
It provides numerous advantages and perks to its users. These include free use of vehicles and drivers' services, tour guides, etc.
The company's operations run in full compliance with regulations of the Indonesian government
Transparent platform and user access to information, including mobile apps
Frasindo plans on including platform users in the share of the net profit
The team that founded the company consists of an experienced, skilled and motivated group of experts. We will bring you a brief overview of the key team members. If you’d like to know more, the Frasindo website offers an in-depth presentation of the entire staff. Here is the link to their About Us section.
FRAS COIN's founder and CEO is Sandy Budiman S. He is an investor trustee, specializing in finances, crowd management, and local crowdfunding. Apart from that, he is a humanitarian activist. Lidya Fransisca is the company's co-founder and member of its Board of Directors, specializing in startups. Yohanes Joko M. and Vita Virginia S. are the remaining co-founders of Frasindo. The rest of the team consists of numerous front- and back-end developers, blockchain experts, public relations staff, advisors, etc.
The Frasindo company has launched its FRAS Coin, as well as the CAR Coin. The FRAS Coin crowd sale has started on February 15 and will end on April 15, 2018. The volume of tokens for the crowd sale is fixed. According to estimates, 100,000,000 FRAS Coins will be distributed. Out of that number, 90% will be sold during the ICO, whereas 8% are reserved for the FRAS team and founders. The remaining 2% is allocated for bounty.
Currently, the FRAS Coin serves as an asset token only. However, Frasindo plans to establish a system in which its users will be able to trade coins. In addition, the company is currently busy at integrating the FRAS Coin with ATM. The next step would then be branching into online banking services via a mobile wallet.
Another benefit for potential FRAS Coin owners is Frasindo's CAR Coin which will be issued to them for free.
The team behind the FRAS Coin is busy at work at establishing this company as a serious player in the field. This is evident not least by the list of partners they have scored by now. It includes Gocar, Uber, Grab, Ignis, Stellar, Ardor Asisraya, and venomRx.
Being a new business opportunity, the FRAS Coin can be an exciting investment prospect. However, before you start investing, we always advise you to research about all the possibilities. Therefore, you can find more details at the official Frasindo website. Also, take a look at their rather extensive whitepaper for more information.