What is Cofound.it (CFI)?
Future of CFI Cryptocurrency and know how to buy CFI

#1: What is Cofound.it?

Cofound.it: The Basics

  1. Cofound.it is a decentralized and distributed global platform that connects startups across various verticals, experts and investors around the globe. It connects teams that have received training to incorporate and use blockchain as a core component of their businesses.
  2. It is a self-sustained business consultancy that focuses on only selected projects. The aim is to create a platform where the best startups across the world can showcase and improve their potential and find investment. It also takes care of the authenticity and legitimacy of such projects by registering them on a decentralized and secure blockchain.
  3. This blockchain-powered startup accelerator is based around a token system called Cofound.It tokens or CFI tokens.

Cofound.it Development

  1. The founders of Cofound. are Jan Isakovic and Daniel Zakrisson. While Jan has a strong background in economics and computer science with experience in industry leaders like IBM and Microsoft, Daniel is a technology enthusiast himself.
  2. Both of them combined have had an experience with various aspects of the Ethereum blockchain and the startup world. They carry the vision to support founders and startups and provide them with a universal platform to build a serious company. The distributed venture capital (VC) ecosystem has also partnered with firms like Deloitte and Wachsman PR to facilitate smooth operations.

 

#2: What are the benefits of Cofound.it?

Cofound.it Technology

  1. The Cofound.it token (CFI) is primarily used to avail multiple services on the platform, project submission being one of them. Since every project submission is followed by an expert review and evaluation, members of the Cofound.it community will have to pay using CFI tokens to distribute their application/ project deliverables among experts and reviewers.
  2. The Cofound.it[1] distributed ecosystem considers the CFI token to be an integral part of all its operations. The team at Cofound.it believes that a well-designed token increases in value as the network grows. It not only incentivises the community and early adopters to use, participate, spread and evangelise the platform that it represents, but also bootstraps a global community where everyone shares incentives to make a certain project grow and succeed.
  3. There are two kinds of tokens that circulate on the Cofound.it platform — tokens issued by the projects and the Cofound.it token itself. While the project tokens represent added value and are distributed among the crowdsale participants, the Cofound.it tokens can be used in exchange for the services provided on the ecosystem.
  4. The Cofound.it token, powers all the interactions and operations on the platform. It keeps the blockchain-based ecosystems’ running smoothly. They facilitate operations like:
    1. Contribution Actions: For experts and service providers to register and be active on the Cofound.it platform, they must own a certain amount of CFI tokens. Furthermore, when teams apply to perform a task a certain amount of tokens are put in escrow until the task has been performed. This guarantees the delivery and completion of this task. These actions include:
      1. Project evaluation
      2. Specific task contribution, like video production, design or content creation
      3. Promotion and expert assistance
      4. Domain experts and expert assistance
      5. Team project management and coordination
    2. Access Rights to exclusive content: There are parts of the Cofound.it platform along with some data that is only accessible to members who hold a certain minimum amount of Cofound.it tokens.
    3. Payments: Activities like project submission need direct payment through Cofound.it tokens. Each project submission needs expert evaluation which is paid for using a certain amount of Cofound.it tokens that are further distributed among the evaluators.

Transactional Processes

  1. On the Cofound.it network, the teams typically go through the following phases: selection phase, training camp, ICO procurement and transition phase.
  2. The transition phase lasts for about 1-2 weeks wherein talent evaluators assess the team’s vision, ability and ideas to determine the quality of the startup and its underlying concept. This step also determines the future actions that are still needed to make the team successful.
  3. This is followed by the training camp that lasts for about 8-12 weeks wherein each team is assigned a trainer along with a team of specialists, according to the business idea. Here, they build using the existing idea, create a strong business unit and improve the existing design and quality of the project.
  4. Post a successful training phase, the team now has to obtain ICOs to finance their business. This is facilitated through the Priority Pass program of the Cofound.it network. Members of the platform who have a Priority Pass can invest in a teams’ idea to support it. Users can use a certain number of the Cofound. it coins to access the Priority Pass as a user.
  5. Members who own it have access to the platform’s exclusive additional features and are also involved in advance sales. These users, called investors can avail these special rights if they find a solid business model which they would like to participate in.
  6. After all the above stages, the teams go through a transition phase that usually lasts for another 2-4 weeks. This process helps a company to grow and develop into a real blockchain company.

 

#3: How to Buy & store Cofound.it coins?

How to buy Cofound.it?

  1. Cofound.it tokens can be bought across various exchanges like Changelly, Coinbase and Bittrex. Since it isn’t available for a direct purchase using fiat currencies, you need to buy other cryptocoins like Bitcoins (BTC) or Ether coins using fiat currency to purchase Cofound.it tokens.
  2. CoinSwitch, the largest cryptocurrency conversion platform, provides the users with a platform to access rates across exchanges at once, and compare prices.
  3. With support for more than 300 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges.

How to store Cofound.it?

  1. In order to use Cofound.it tokens, a user will need to store it in a wallet. It will help him/her to store, send, and receive digital currency.
  2. Multiple wallets like Coinbase, MyEtherWallet and Mist support CFI tokens. Ledger Wallet and Trezor offer hardware wallet options to users for CFI tokens.

 

#4: What is the future of Cofound.it tokens?

Also Read: Complete Analysis of Cofound.it | Live Cofound.it (CFI) Price Charts And Predictions

Historical Data for Cofound.it coins (CFI): April 2018 to July 2018

Month

Open

High

Low

Close

Volume

Market Cap

July 2018

$0.042924

$0.043617

$0.038606

$0.038885

2,22,460

1,39,50,400

June 2018

$0.034100

$0.036071

$0.033348

$0.035406

2,56,132

1,10,82,400

May 2018

$0.065917

$0.067314

$0.063595

$0.064150

1,95,081

2,14,23,100

April 2018

$0.091662

$0.098156

$0.086387

$0.097937

7,43,024

2,97,90,300

Historical Trends of Cofound.it

  1. CFI tokens have seen a constant decrease in the price and volume from April 2018 to June 2018. However, it stabilized at $0.038 in July 2018 which is only a few points above the price point of $0.033 in June 2018.
  2. The digital currency seems to have a good historical backing and did not experience a steep fall in price, like several other cryptocurrencies.

Future trends

  1. Market analysts like walletinvestor[2] predict CFI coins prices to drop further in the next 1 year till 2019.
  2. Many other experts believe that Cofound.it tokens can see a rise in the price in the next 5 years where it might be priced at a point close to $0.50.
  3. For 2018, the company intends to launch 30 projects while it continues to develop and test the functionalities introduced in 2017. This will also enable them to collect simple funds from project supporters new to the crypto space.
  4. Its objectives for 2017-2018 were:
    1. Launch 10 projects
    2. Develop the core foundation for the platform and define the included processes
    3. Define the initial elements of the platform to crowdsource
    4. Prepare a foundation to onboard project supporters that are new to the crypto space

 

#5: How is Cofound.it token different from other cryptos?

  1. Cofound.it tokens form a support system for upcoming businesses and technology enthusiasts.
  2. The platform continuously designs goals and objectives to reform its algorithm and infrastructure. Furthermore, Cofound.it aims to give a boost to several projects by providing all kinds of exposure and support to them.
  3. The ambitious startup accelerator platform caters to the needs of startups interested in tokenization, thus encouraging new ideas and business models. It places the token and the network at a respectable position in the minds of young entrepreneurs and budding startups.

 

#6: Should you invest in Cofound.it tokens?

  1. While the platform is supported by many experts, it also needs investors who believe in the ideas of the founders and can support them.
  2. Investment experts believe that Cofound.it tokens to be a risky investment in the near term. Since it is predicted to further drop in its performance, users may want to hold on their investment options for the coin at its price of $0.038 (as of July 2018).
  3. Close to 325,000,000 CFI coins out of 500,000,000 coins are in circulation in July 2018.
  4. However, users are advised to keenly observe the price trend of the virtual coin and make their decision swiftly and cautiously.
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