- FintruX: The Global P2P Lending Ecosystem
FintruX is a decentralized technology and getting an unsecured loan through it is very easy and affordable. Main goal of FintruX is to change the way in which an unsecured loan is being originated. An unsecured loan is more risky than a normal loan because it is not protected by any asset, so this nature makes it more expensive. FintruX is going to change that through additional collateral and a third party guarantor. Risk of debt is reduced via credit enhancement by lowering interest rates.
Four levels of credit enhancements :
* Additional security via over collateralization.
* Overflow losses from the borrower are taken care of by third party guarantors.
* Additional insurance through cross collateralization.
And if all of these fail then,
Reserved 5% of all FTX Tokens to cover losses by lenders
Major issues of startups
FintruX has solved 3 major issues for small business:
* Lender’s credit risk is neutralized through FintruX via credit enhancements.
* Each individual while borrowing provides unambiguous censorship resistant record to FintruX network through a unique smart contract.
* Borrowers are also provided with post funding selfserve administration options at FintruX network via instant matching which simplifies loan application process.
Trustless financing is their main mission for both borrower and investor.
Their vision is to maximize financial liquidity in the ecosystem where no one loses and all participants win.
Detailed market overview is available on https://www.fintrux.com/home/doc/whitepaper.pdf
* Lenders have a wide variety of choices to adjudicate their loans as FintruX is an open ecosystem and partners with rated agencies.
* A decentralized Ethereum built smart contracts review platform is provided to all the participants in whom borrowers can rate their lenders. Lenders, as well can rate their borrowers and agencies and write reviews on them.
* Fintrux Network will convince service agencies to charge lenders in FTX token as fee which removes the barrier to entry.
* The decentralized Ethereum blockchain technology provides the highest availability and is very secure and private. Users are at a low risk of being cheated.
* Through smart contracts both lenders and borrowers are provided full transparency. The choices made by both the parties are visible due to a user friendly interface. The platform consists of millions of smart contracts that are simplified for each borrower contract. No unnecessary code is needed.
* Smart contracts will not be hand written and codes will be generated with latest technology which eliminated human error.
* Risk will be reduced for unsecured loans via FintruX’s cascading credit which makes it easier to borrow at a reasonable interest rate. This is ideal for small business, especially startups.
* FintruX has reduced identity risk by allowing only reputable agencies to operate on FintruX network
* Rated agents would provide credit decision package which would manage identity risk.
* Risk of loss is significantly reduced due to third party guarantor and 5% of all tokens is reserved as a last resort protection.
* Risk of multiple borrowing is reduced and borrowers can borrow from one account only.
* There is no devaluation risk
All other important information is provided on the official website https://www.fintrux.com/home/doc/whitepaper.pdf
WEBSITE : https://www.fintrux.com/
whitepaper : https://www.fintrux.com/home/doc/whitepaper.pdf
Author : https://bitcointalk.org/index.php?action=profile;u=1464237
Facebook : https://www.facebook.com/ZeeShaour
Twitter : https://twitter.com/ZeeShaour
- Date of publication:
- Wed, 02/14/2018 - 14:48
Click on the link - it will be copied to clipboard