[ANN] [ICO] DEBITUM NETWORK - Borderless SME business funding ecosystem

[hollybit]

How would you rate (in%, $, or any currency) the benefit of using this lending service comparing to the usual banking system? Let’s take Europe as an example. So how much is it profitable to lend money exactly in the way proposed, than to take a loan from a bank?

[Debitum]

How would you rate (in%, $, or any currency) the benefit of using this lending service comparing to the usual banking system? Let’s take Europe as an example. So how much is it profitable to lend money exactly in the way proposed, than to take a loan from a bank?

Hi, first of all traditional banking institutions simply do not work with the SME segment leaving potential customers unserved. There are p2p platforms in this industry which charge quite high 3-4% transfer fees for their services. In Debitum Network ecosystem we will charge up to 1% and make financing services way more accessible and attractive to SMEs.

[Debitum]

We have been featured in Crypto Lark video review. Most important details of our project explained. Please watch:
https://www.youtube.com/watch?v=VVOwjKSth3U

[spacegt]

Hello everybody. I’m interested in the point of non-repayment of the loan. Does anyone know how developers are planning to link the punishment and legal norms?

[deort]

Is there a bankruptcy proceeding for borrowers? I just haven’t found any information about this in the project description, but I’d like to know more details if such a procedure does exist on the platform, of course.

[Debitum]

Hello everybody. I’m interested in the point of non-repayment of the loan. Does anyone know how developers are planning to link the punishment and legal norms?

We will have a special member in the ecosystem - debt collector who is meant exactly for this. As debt cannot be automatically recovered on blockchain, this debt collector actor will do all non-blockchain activities needed, and will ensure max collection of outstanding debt.
Another option against bad debts will be possibility to insure the investment / loan taken. In that case all or part of investment (based on insurance terms) will be repaid in case of bad debt.

[Debitum]

Is there a bankruptcy proceeding for borrowers? I just haven’t found any information about this in the project description, but I’d like to know more details if such a procedure does exist on the platform, of course.

One of things debt collector can do is start legal action based on local regulations, including, bankruptcy procedure, asset liquidation procedure and similar.

[Gabrola]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

[seriosman]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

Hello! The project doesn’t have a task, to “dislodge” anyone from the market, A more convenient alternative to the traditional system is created. There’re benefits in terms of finance, technology, speed, convenience, etc.

[Gabrola]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

Hello! The project doesn’t have a task, to “dislodge” anyone from the market, A more convenient alternative to the traditional system is created. There’re benefits in terms of finance, technology, speed, convenience, etc.

I’ve already noticed this) But does the banking system want to let such a "rival" enter the game? 

[nextwalker]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

Hello! The project doesn’t have a task, to “dislodge” anyone from the market, A more convenient alternative to the traditional system is created. There’re benefits in terms of finance, technology, speed, convenience, etc.

I’ve already noticed this) But does the banking system want to let such a "rival" enter the game? 

It’s unlikely! But there is nothing to do with it, everything is legal and promising, so it will be in demand

[Gabrola]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

Hello! The project doesn’t have a task, to “dislodge” anyone from the market, A more convenient alternative to the traditional system is created. There’re benefits in terms of finance, technology, speed, convenience, etc.

I’ve already noticed this) But does the banking system want to let such a "rival" enter the game? 

It’s unlikely! But there is nothing to do with it, everything is legal and promising, so it will be in demand

It seems you’re right! If the convenience and benefits of service are better than traditional ones, the banks themselves may want to take part in this alternative and become very large players in the market. How What you think this will give to Debitum?

[seriosman]

Hello community! I can see that your project wants to dislodge traditional banks from the debt market for business?)) It’s an ambitious task, although nothing is impossible, given the speed of development of the blockchain.

Hello! The project doesn’t have a task, to “dislodge” anyone from the market, A more convenient alternative to the traditional system is created. There’re benefits in terms of finance, technology, speed, convenience, etc.

I’ve already noticed this) But does the banking system want to let such a "rival" enter the game? 

It’s unlikely! But there is nothing to do with it, everything is legal and promising, so it will be in demand

It seems you’re right! If the convenience and benefits of service are better than traditional ones, the banks themselves may want to take part in this alternative and become very large players in the market. How What you think this will give to Debitum?

I think that this will lead to explosive growth in development and prospects at least.

[Debitum]

Article about Debitum Network on Bitcoinist:
http://bitcoinist.com/upcoming-blockchain-ico-takes-central-banks-fight-decentralize-small-business-financing/

[dayasinfo]

Hello. Tell me, please, what will affect distribution of creditors and borrowers in the ratings? And how much will the rating affect the ability to lend or borrow?

[Debitum]

Hello. Tell me, please, what will affect distribution of creditors and borrowers in the ratings? And how much will the rating affect the ability to lend or borrow?

The rating depends on the objective calculations and feedback based on historic activity on the ecosystem.
From our financing experience if the rating is higher, it is easier or cheaper to lend/borrow as community members trust you more. Also for other service provisers it's easier to get service requests for better price.

[romgenie]

There are going to be 3 parties participating: borrower, investor and service provider. Aren't you afraid that after some time there will be no newcomers and platform wont be used anymore.

[foreverman]

There are going to be 3 parties participating: borrower, investor and service provider. Aren't you afraid that after some time there will be no newcomers and platform wont be used anymore.

We looked into it and it’s mentioned in Debitum. It’s called “empty room” problem. It’s quite easy to solve - we are going to land tokens to different parties and motivate them to work on our platform. We will control number of tokens granted and after payments and  commissions all the tokens will be moved back to the back up funds.

[matthewtalbot]

There are going to be 3 parties participating: borrower, investor and service provider. Aren't you afraid that after some time there will be no newcomers and platform wont be used anymore.

We looked into it and it’s mentioned in Debitum. It’s called “empty room” problem. It’s quite easy to solve - we are going to land tokens to different parties and motivate them to work on our platform. We will control number of tokens granted and after payments and  commissions all the tokens will be moved back to the back up funds.

Just like National banks, right?

[Debitum]

There are going to be 3 parties participating: borrower, investor and service provider. Aren't you afraid that after some time there will be no newcomers and platform wont be used anymore.

We have a clear business plan to expand in 50 countries. The market share of SME's and credit gap is so big that there is enough space to expand. Moreover, we are offering local players to become global, that means that there will be more business and growth opportunities for borrowers, investors and service providers.