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QYKBAR (QYK) ICO Review – ICO Token News

Overview

QYK is a platform to choose, stock, consume and trade alcohol and is based on an existing Patented blockchain system. It’s an international blockchain loyalty program for everyday life and your only preferred way in the future to have affordable and fun experience in the best bars and restaurants across the globe for consuming drinks and spirits. In short – you would enjoy same level of service and product experience in your favourite leisure spots for less, or in credit. Our main goal is to utilize the global nature of the blockchain idea by bringing it to the bar and restaurant part of the existing $1.4 trillion alcohol industry in a way that would significantly improve end-user overall experience and save money. We ARE the UBER for your drinking experience for years to come. After having done in depth conversations with Bar merchants, we realized a big potential of new way to stock and consume alcohol on the cloud. This lead us to start developing the QYK Application that is already in Alpha mode and moving fast.

Our expansion plans are as ambitious. We are launching in Asia in 1st Quarter of 2018 in Malaysia, Singapore and Indonesia, Thailand, Japan, Australia by the mid of 2018. We would be expanding to Europe and US in early 2019. Most of the proceeds from ICO tokens are destined for Business Development and Marketing to support those ambitions.

What is QYK Bar’s bet?

QYK Bar is a revolutionary concept where a consumer is allowed to stock his favourite alcohol in the cloud and is able to choose a bar/pub/restaurant of his choice to consume his stock anytime. Consumer gets the flexibility to stock any amount of alcohol and consume anywhere without having to worry about different prices of alcohol at different bars. In essence, a consumer gets to stock his favourite alcohol in any quantities (half or full or quarter bottles of wines, spirits or any glasses of beers). And he pays the standard price at each type of bar he visits. The bars are categorized under two classes and prices of all alcohol is same at similar category of bars. This way consumer knows that his stock is worth the same quantity and price at any bar he visits under a particular category class. The ICO countdown has already begun for this token.

Benefits to Bars

Benefits to Bars – QYK allows bars to host their inventory on the cloud thereby letting consumers buy more and try new bars at the same time without having to worry about the prices across bars. More footfalls result in increased sales for bars affiliated to QYK platform.

Inventory Tracking & Ordering – Qyk lets bars track and manage their inventory with a simple yet cutting edge technique of noting down inventory by swiping up/down on the bottle page. Efficient inventory tracking helps to understand which orders to be placed in advance in order to get stocks on time. This improves the stock performance as Qyk lets bars order directly to their existing suppliers or new ones by converting inventory reports into orders.

Faster Payments – QYK offers bars to lure customer with a credit payment mechanism where QYK pays bars on customer behalf and collects money later from customers. Bars get to drive in additional revenue and also get paid faster for their bills at the same time.

Reduce Wastage – With Qyk’s simple yet effective swipe mode of taking inventory, the whole process takes only 15 minutes and hence can be done on a daily basis. This ensures inventory getting tracked closely and regularly leading to reduction of waste due to spillage and over-pouring by the staff.

Decentralized Buying & Fulfilment – Qyk blockchain platform will be able to open up the ecosystem by connecting Bars, Distributors and Suppliers bringing in cost transparencies and supply chain efficiencies. This will lead to increased margins for everyone involved by cutting out the middlemen, and will also ensure faster supply chain and payment settlements without any risks or errors.

QYK Digital Credit Card

We are reinventing the credit card with QYK Digital Credit card. The card and underlying technology comes pre-integrated with QYK Bar app. The user can logon to his app and apply for QYK credit card within one minute by providing his particulars on the app. QYK then sends the data query to its Credit Check partners for finding the credit history of the applicant. The application is approved/rejected within 3-4 hours and credit limits are assigned for the successful application. Check ICO list to know more about ICOs.

With Qyk virtual credit card mechanism, merchants are able to avoid dependencies of payment processors, merchant acquirers and the network losses or delays. Not to mention the costs of operating card swipe machines and related maintenance and support costs. Qyk provides a one touch checkout and payment mechanism where there is no delay in transaction and no failure as there is no third party involved in processing of payment. This is because the transaction here is simply a record of money that is to be paid by Qyk to bar and which is to be collected later on form consumer.

Team

  • VLAD DOBROV
    VLAD DOBROV
    VLAD DOBROV
    CEO
    Vlad is an International Entrepreneur with a top level corporate financial background of 15 years and has worked for multinationals across the globe. He also holds two degrees in Economics and Finance and is a certified Chartered Accountant from the Institute of Chartered Accountants, Australia and New Zealand.
  • ROGER ZIMMERMANN
    ROGER ZIMMERMANN
    ROGER ZIMMERMANN
    Chief Product Manager
    Roger has over fourteen years of experience in software development of consumer and enterprise software with a focus on web and mobile applications. Holds a Master of Science from ETH Zurich. Specialties: Mobile apps, web applications, security, cryptography, privacy, identity management
  • DR. SEAD MUFTIC
    DR. SEAD MUFTIC
    DR. SEAD MUFTIC
    CTO
    Holds Ph.D & M.Sc degress and is working in the area of IT security for more than 40 years. Dr. Muftic is registered as an International Expert for security of blockchain technologies and virtual currencies by the European Commission (Brussels, Belgium). Dr. Muftic is the author of four U.S. patents, more than 50 research papers, expert reports, three books and is the member of several Advisory Teams and Boards with companies working in the area of blockchain technologies

  • RAGU R RAMAN
    RAGU R RAMAN
    RAGU R RAMAN
    COO
    18 plus years of experience in Software development, Deployment and Operations. Creation and delivery of mega projects that enable hundreds of millions worht of Telco Network investments . Also a part time investor in Bars.
  • NAVEEN KUMAR
    NAVEEN KUMAR
    NAVEEN KUMAR
    VP - Business Development
    More than 10 years of B2B IT and Technology sales background and have sold across APAC in different industries. Leads Sales & Business Development at QYK for Bars and Consumers side. Also a part time investor in bars. Holds and MBA degree from one of the top MBA institues in India - IIM Indore
  • DMITRY PERMAN
    DMITRY PERMAN
    DMITRY PERMAN
    Head, Investor Relations
    Dmitry is an investment banker with over 10 years of experience working for Morgan Stanley, Merrill Lynch and Rothschild in London and Moscow. Holds MBA from Duke.
  • ANNA BORDEAUX
    ANNA BORDEAUX
    ANNA BORDEAUX
    CMO
    Anna is an experienced e-commerce entrepreneur with over 6 years of experience in digital marketing and growth hacking
  • ALEKSANDR NAPALIUK
    ALEKSANDR NAPALIUK
    ALEKSANDR NAPALIUK
    Digital Marketing Head
    Alexander is an experienced digital marketing professional specializing in web analytics, smm, seo and lead generation
  • JITENDER RAGHAV
    JITENDER RAGHAV
    JITENDER RAGHAV
    Engineering & Tecchnology Head
    Total 8 years of experience in product development in Payments & Merchant Acquirer Industry, IT Security Industry, Web Technologies. Leads the engineering team for development of QYK Consumer & Merchant applications.
  • ELANIE CHONG
    ELANIE CHONG
    ELANIE CHONG
    Head Loyalty Initiatives
    Elaine has more than 7 years of experience in Customer engagement, loyalty and customer support fuctions across Retail and Education Industry. She heads Customer Loyalty function at QYK
  • DEBBIE CHEN
    DEBBIE CHEN
    DEBBIE CHEN
    Customer Support & Loyalty
    Debbie has around 6 plus years of experience is Customer enagement and Support function.
  • RAJAGOPAL SRINIVASAN
    RAJAGOPAL SRINIVASAN
    RAJAGOPAL SRINIVASAN
    Project Head, Bar Initiatives
    Raj has more than 10 years of experience in IT Project Management and leads the Bars engagement project and is currently involved in developing new features and functionalities for Bar side module for QYK

Milestones

  • 1
    Q2 2016
    Concept Stage. Work started on BIXTrade system concept. Technical concept development and filing of Patent Applications for BIXTrade system. Concept of QYK Bar discussed and validated with bars.
  • 2
    Q2 2017
    BIX Patent.
    Received.
    Patent No: US 9,635,000 B1 received on Apr 25, 2017.
    3 more Patents filed.
    Development on BIX Trade ledgers Beta version and QYK Bar application started.
  • 3
    Q4 2017
    MVP Launched!
    Patented BIX Trade technology live
    in Beta.
    Pilot completed with Bars.
    Live Apps for QYK Bar for Users &
    Bar merchants launched.
    Merchant Acquirer License applied
    for Malaysia & Singapore entities.
    PCI Certifications completed.
    Backend Bank integrations for Cards
    and Net banking completed.
    Integrations completed with Credit.
    Check agencies.
  • 4
    Q2 2018
    Marketing & Partnerships.
    Partner with top 500 Bars and Pubs in Malaysia & Singapore.
    Reach out to 100,000 users.
    Online & Offline marketing in full
    swing.
    Field Sales team to be hired.
    Settle operations for 2 countries and
    plan for expansions into Australia, Thailand, Indonesia, Japan & Philippines.
  • 5
    Q4 2018
    Growth Strategy.
    Expand operations into Thailand,
    Australia, Indonesia, Philippines,
    Japan.
    Fully commercialize QYK Trade
    Blockchain.
    Create loyal user base of
    authenticated users.
    Get more of commissions
    revenues by partnering exclusive
    deals with Bar merchants.
    Start work for expansion into
    Phase 2 i.e. global domination.
  • 6
    Q2 2019
    Results.
    Get 1,000,000 loyal customers on
    app across APAC & plan expansions
    to other regions in Europe & US.
    Settle operations in all main
    regions, i.e. US, Europe, APAC.
    Target next big jump to become
    the UBER for Alcohol.

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