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poordeveloper
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November 10, 2017, 04:55:39 PM |
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I really like the idea of the project. Should look at it attentive. Good luck!
It's a really good use of the blockchain . Everyone can just launch an ICO for any project, but it's completely different to be able to actually take advantage of the benefits and possibilities being based on the blockchain and smart contracts allows . indeed smart contracts are helping build a trustless environment. |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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CryptoDad2017
Newbie
 Offline
Activity: 25
Merit: 0
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November 10, 2017, 05:33:55 PM |
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I really like the idea of the project. Should look at it attentive. Good luck!
It's a really good use of the blockchain . Everyone can just launch an ICO for any project, but it's completely different to be able to actually take advantage of the benefits and possibilities being based on the blockchain and smart contracts allows . indeed smart contracts are helping build a trustless environment. I really love the potential here. Obviously first, as an investor... great opportunity! Second, for the small business sector.. but lastly for entrepreneurs in developing countries with high interest rates. I've lived in a few third world countries and the obstacles that are faced to bring an idea from concept to product is overwhelming! So much talent and great ideas are lost that way. I really think projects like FintruX can change that! |
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poordeveloper
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November 10, 2017, 09:55:38 PM |
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Nice , all info well prepared, would be interested to see how the team develops the ideas. Loan business is a must in everywhere  . FOllowing this yes, because the idea is good |
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Retired
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November 10, 2017, 09:58:57 PM |
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Nice , all info well prepared, would be interested to see how the team develops the ideas. Loan business is a must in everywhere . FOllowing this yes, because the idea is good And their team plans to build a whole system/platform around that. So they have the expertise needed? |
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Huxleyfree
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November 10, 2017, 10:01:14 PM |
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What currencies will you accept?
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heinemannplus
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November 10, 2017, 10:03:07 PM |
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Which countries can clients be from?
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Retired
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November 10, 2017, 10:04:21 PM |
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Which countries can clients be from?
You mean debtors? |
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LoveInThisCryptoClub
Newbie
Offline
Activity: 42
Merit: 0
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November 10, 2017, 10:08:01 PM |
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What risk do you take securing the unsecure loans?
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rokieinvest
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November 10, 2017, 10:08:51 PM |
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where are you guys from?
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heinemannplus
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November 10, 2017, 10:13:54 PM |
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Which countries can clients be from?
You mean debtors? Which countries can clients be from?
You mean debtors? yes, those who take credits |
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Schopenhauer365
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November 10, 2017, 10:19:40 PM |
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What will be the requirements for API access?
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FintruX (OP)
Full Member
Offline
Activity: 185
Merit: 100
FintruX Network: The Global P2P Lending Ecosystem
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November 10, 2017, 10:22:35 PM |
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Which countries can clients be from?
Our clients will be worldwide, depending on the agencies we enlist. We are doing our initial launch in Canada and Singapore. where are you guys from?
Our development team is located in Canada, but our partners are global. We are building a global P2P lending ecosystem. What will be the requirements for API access?
The only requirement for API access is payment in FTX tokens. This ensures that our ecosystem (which thrives on our utility token) will remain healthy and sustainable. |
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poordeveloper
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November 10, 2017, 10:32:24 PM |
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Payment for API access with tokens should definitely help the token.
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Retired
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November 10, 2017, 11:00:42 PM |
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Singapore and Canada are really great choices for the start.
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LoveInThisCryptoClub
Newbie
Offline
Activity: 42
Merit: 0
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November 11, 2017, 12:22:57 AM |
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What risk do you take securing the unsecure loans?
Kindly answer. |
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Retired
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November 11, 2017, 12:54:28 AM |
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What risk do you take securing the unsecure loans?
Kindly answer. You mean what risks do they have to take in that situation? |
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poordeveloper
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November 11, 2017, 12:55:57 AM |
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What risk do you take securing the unsecure loans?
Kindly answer. You mean what risks do they have to take in that situation? They explained before the methods used, can't find the exact post though. |
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FintruX (OP)
Full Member
Offline
Activity: 185
Merit: 100
FintruX Network: The Global P2P Lending Ecosystem
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November 11, 2017, 03:06:04 AM |
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What risk do you take securing the unsecure loans?
Great question. There is no risk involved in our part, since we are not using our own money to lend or to cover loans. We are simply using securitization principles that are generally reserved for large bulk funding and implementing them for all unsecured loans to SMEs, especially startups. We can do this because of our expertise in serving the securitization sector for 20 years, and superior technology in a no-code development platform which allows us to generate an individual program per each contract. An unsecured loan is a loan that is not protected or secured by any asset. In this case the lender is taking a lot more risk and would likely charge a higher interest rate. The riskier the loan, the more expensive it will be. We are going to change that. The credit enhancers are as follows: 1. Over-collateralization acting as additional security; and if it fails to cover all losses arising from the same borrower, 2. Third-party guarantors take care of the overflow losses from the above for the selected loans; and if it still fails, 3. Cross-collateralization pool provides additional insurance; and if it still fails, 4. Five (5)% of all FTX Tokens has been reserved to cover any losses incurred by lenders. In essence, we make borrowing and lending a no brainer for both borrowers and investors. Investors enjoy a very safe low-risk loan for a traditionally high-risk venture, and borrowers benefit from low interest rates that result with low-risk. |
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poordeveloper
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November 11, 2017, 10:46:25 AM |
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What risk do you take securing the unsecure loans?
Great question. There is no risk involved in our part, since we are not using our own money to lend or to cover loans. We are simply using securitization principles that are generally reserved for large bulk funding and implementing them for all unsecured loans to SMEs, especially startups. We can do this because of our expertise in serving the securitization sector for 20 years, and superior technology in a no-code development platform which allows us to generate an individual program per each contract. An unsecured loan is a loan that is not protected or secured by any asset. In this case the lender is taking a lot more risk and would likely charge a higher interest rate. The riskier the loan, the more expensive it will be. We are going to change that. The credit enhancers are as follows: 1. Over-collateralization acting as additional security; and if it fails to cover all losses arising from the same borrower, 2. Third-party guarantors take care of the overflow losses from the above for the selected loans; and if it still fails, 3. Cross-collateralization pool provides additional insurance; and if it still fails, 4. Five (5)% of all FTX Tokens has been reserved to cover any losses incurred by lenders. In essence, we make borrowing and lending a no brainer for both borrowers and investors. Investors enjoy a very safe low-risk loan for a traditionally high-risk venture, and borrowers benefit from low interest rates that result with low-risk. what does cross collateralization mean? |
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cuenzy
Full Member
Offline
Activity: 532
Merit: 103
Fast, Smart, Trustworthy
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November 11, 2017, 11:29:28 AM |
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You have a strong org behind you. So what are your advantages over SALT or other p2p borrowing system?
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