TechBureau Launches ICO Platform, COMSA, Built on NEM Blockchain
On August 3, TechBureau announced the release of COMSA, which is described as, ‘a complete Initial Coin Offering (ICO) fundraising platform built on the NEM protocol meant for the streamlining of cryptocurrency funding.’
The COMSA platform hopes to address uncertainties that go with Initial Coin Offerings by linking ICO funds to Zen, a digital form of the Japanese Yen to do away with cryptocurrency volatility. The all-in-one platform will allow token offerings, sale and distribution and the listing of tokens on the exchange within the platform, that is TechBureau’s own exchange Zaif.
President of the NEM.io Foundation, Lon Wong, commented that the platform will bring efficiency gains to the ICO process:
“COMSA showcases the whole spectrum and versatility of the NEM blockchain solution and how it can help make the ICO process more transparent and streamlined.”
The August 3 announcement also stated that COMSA will eliminate the need for third party agencies such as escrow services, by providing trustless transactions in native currencies, and that any token issued on the platform will be integrated with both the NEM and Ethereum public blockchains.
COMSA will provide businesses with access to support and solutions to build their own ICO and implement blockchain technology with the private blockchain of the NEM project, Mijin. “COMSA will only create decentralized projects with proper use-cases and application to the blockchain world. Existing business entities will not need an ICO to utilize this platform. They can introduce their fundraising and blockchain technology and later build a solid business model,” commented Takao Asayama, CEO of Tech Bureau, Corp. “COMSA is a one stop shop solution for token creation and exchange.”
Smart contracts are also envisioned for 2018, where the COMSA website states:
“In 2018, you will be able to coordinate Bitcoin, NEM, Ethereum and multiple mijin private blockchains as one network to keep the balance of your token among them. We will also offer “network fee delegation” on the NEM blockchain that allows you to process practical business transactions in fiat currency on the blockchain without owning its native currency XEM.”
XEM, the cryptocurrency of the NEM blockchain, jumped sharply on the announcement and galvanized its upward trend, with XEM-BTC gaining 23.2 percent on August 2. The daily price action below shows that August 2 candlestick is a bullish Marubozu, suggesting support will be found at the 50 percent level, 0.00007467, and the base of this candlestick at 0.00006690. Therefore, we look to buy at these levels in event of a pullback. Alternatively, the market is within the Ichimoku cloud, suggesting a breakout is imminent. Consequently, we look for a daily close above the Ichimoku cloud to confirm a new uptrend in XEM-BTC.
Momentum is also turning bullish, with a bullish saucer displayed by the Awesome Oscillator. The bullish saucer suggests a buy just above August 2’s close, around 0.00008243. Also, notice that the Ichimoku cloud has changed color recently, from red to green, suggesting an uptrend is to be anticipated. We look for XEM-BTC to test fractal resistance at 0.00010800, the high from May 28 as an initial target for buy positions; a break of this fractal level would open up the all-time high at 0.00013980.
XEM will also likely appreciate in the future, with upcoming Trezor support for the NEM Nano Wallet, as revealed by a recent tweet from Trezor’s Alena Vranova. Further, as the COMSA platform proves its worth, it strengthen another long-term uptrend for XEM-BTC, after retracing substantially from the highs above 0.000013000 in May 2017, with the first projects expected to debut the platform in Winter 2017.