What's up my fellow blockchain enthusiasts,
I would like to bring to your attention a project that I really believe will do big things in the coming era of decentralized and trustless blockchain-based economies: Sentinal Chain.
Full disclosure: by posting this review, I am participating in their Proof-of-Support campaign. It is important to note however that I would not be taking the time to write this review if I did not trust that this project will become a major player in the cryptocurrency realm.
So what is Sentinal Chain and what problems are they tackling?
Quoted from the whitepaper, “the poor are much richer than we think; what they need is a solution to unlock their economic potential".
Sentinel Chain aims to become the world’s first business to business marketplace platform for financial inclusion services based on the use of livestock as collaterals. Sentinel Chain addresses two main issues to be solved to allow the tokenization of livestock; first, the creation of a process that transforms livestock from dead capital to a fungible asset with a transparent and clear defined value, and second, the creation of an open and transparent marketplace that connects the unbanked to the network of global financial providers.
There are more than 570 million farms worldwide, most of which are small and family-operated. These smallholder farmers rely on seasonal agricultural production for their livelihoods and approximately 70% of the global food production comes from small-scale agriculture. It is designed with the specific purpose of creating a low-cost cross-border financial infrastructure connecting the isolated unbanked with limited access to formal financial services to a global network of financial providers.
Who is behind the project?
The founder, CEO and CTO is Roy Lai who with over 20 years of technological experience with expertise in blockchain technology, investment banking and inter-bank payments, looks poised to lead the team in achieving their goals. Major investors include Fenbushi Capital, well known within the blockchain industry, and major partners include VeChain, who have seen significant growth in the past year, firmly establishing themselves as majojr players in the space.
Features:
1) Insurance for insurance companies to publish livestock insurance on CrossPay Blockchain, based on verifiable livestock assets on CrossPay Blockchain
2) Loans for local financing companies to publish loan agreements on CrossPay Blockchain, hedged on livestock collateral
3) Collateral for local financing companies to use as collateral to borrow from overseas financing companies
4) Crowdfunding for overseas peer-to-peer lending and crowdfunding platforms to use the service of Sentinel Chain to provide financing for local financing companies
5) Community projects for overseas donors to use the service of Sentinel Chain to fund the local community projects like humanitarian aid or disaster relief
6) E-Payments for token holders to use the service of CrossPay Blockchain to make electronic payments with local merchants
Activity on Sentinel Chain will be performed solely using the Sentinel Token, making the token essential and utilizing CrossPay, a mobile application and financial delivery mechanism.
Lastly, as they are only raising $US 14.4 M in their public sale, I see tremendous upside once this token hits exchanges and beyond as they move forward with their road map.
For more information, check out their website:
https://sentinel-chain.org/
