[ANN] [ICO] CEREAL - BLOCKCHAIN ECOSYSTEM FOR ASSET-BASED LOANS

[- Scorp -]

hey good project

[1715038138]

1715038138

[1715038138]

1715038138

[1715038138]

1715038138

[1715038138]

1715038138

[1715038138]

1715038138

[Cereal Team]

D10e - the leading conference on decentralization. May 1, 2018. Tokyo, Japan.

[Cereal Team]

I've just discovered your project and seems really interesting. As I understand for what I've read so far, there is no blockchain either?

Thanks for the good question.

The blockchain will be used when we store the collateral, since the crypto currency is a part of the blockchain ecosystem, but we also have a part where we give loan in a fiat money,  which is not on the blockchain. Our service at the initial stage is partly based on the blockchain, as it is impossible to link the receipt of collateral on the blockchain through smart contracts and  the issuance of a loan in fiat.

We have a global vision, we want to completely replace the current inefficient system of financial interaction with a blockchain ecosystem. But at the current stage, there are a number of limitations, beginning with the technological ones ending with legal ones, which do not allow us to release  a common long-term vision now.

Best,
CT

[rooneylion]

How will you estimate your customers? If I have a bad credit rating can I take a loan? Any restrictions for borrowers?

[Cereal Team]

Hello! What happens in case someone fails to repay his loan regarding the mining equipment?will you them a little more time?

Thanks for your question.

If a borrower misses a regular payment, we may:

1) place a maintenance request;
2) ask the client to repay the principal in fiat.
3) liquidate collateral partly by selling client’s mining equipment to cover principal and interest.

In any case, we will keep the client informed and make sure that all actions take place in accordance with the terms of the contract.

Best,
CT

[Tata_Coinbaby]

You lead by Cryptonomos and I know they are very serious business providers. They have been leading a lot of projects and reached the top.
what sources can give us information about your partnership with Cryptonomos? Does your team participate in international conferences?

[angelinakorenovskaya]

Hello Cereal! Why do you call yourself like flakes my Kids eat every morning? I Find this funny and confirming a bit

[Cereal Team]

Who do you consider the main users of your services? I have crypto-currencies, but I do not need a conventional loan.

Do you have anything for me?

Thanks for the question.

We have smth for every our customer.

For each client group we develop convenient loan products - credit cards, lines of credit for business, purchase of equipment for mining in instalments with the help of Cereal partners. In the personal account, the customer can select the product he needs and take a few simple steps to start using it.

Our core customers are miners and businesses that lack cash and need to expand their capacity. In the picture below you can see problems of the market participants and the solution that we offer. If in the future you need cash, we will be always  here:)

Best,
CT

[tolstolob]

I see your concept and you intend to give for miners equipment ? When it will be available from you ? What the miner must do for getting mining hardwear ?

[Cereal Team]

How will you estimate your customers? If I have a bad credit rating can I take a loan? Any restrictions for borrowers?

Thanks for the question.

Any owner of cryptoassets which are accepted as deposit can get a loan in fiat. The process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.

Best,
CT

[Tuan Kuan]

I’m certain that purchasing the mining equipment in installments brings high risks and nobody should do it

[Cereal Team]

Hello Cereal! Why do you call yourself like flakes my Kids eat every morning? I Find this funny and confirming a bit

Thanks for the question.

Cereals used to be one of the first means of exchange and payment in the ancient world. Today there aren’t many effective and legal tools to exchange crypto assets for fiat. We provide this service, and Cereal is a symbol of exchanging opportunities.

Best,
CT

[Arzamas]

Began to get acquainted with the projects, but it is not clear what is your ecosystem for!

[Cereal Team]

I see your concept and you intend to give for miners equipment ? When it will be available from you ? What the miner must do for getting mining hardwear ?

Thanks for the question.

We plan to enable customers of our partner GigaWatt to purchase mining equipment by installment in the middle of this summer.

Best,
CT

[vados333]

Your position is clear but what if I damage the equipment or there is no electricity needed for mining?Why should I think about how to repay my installment if I can’t mine enough?

[Cereal Team]

I’m certain that purchasing the mining equipment in installments brings high risks and nobody should do it

Thanks for the question.

Of course as any business activity, mining is exposed to risks but that doesn't mean people should stop becoming entrepreneurs. Our future customers know about the risks but still want to use our product. We have a large number of applications from experienced miners and those who want to become a part of this business.

For now mining is the only way to investment which allows to obtain a stable yield, received in a certain cryptocurrency. If the user believes in the long-term growth of a certain cryptocurrency, but lacks funds to purchase it in a significant amount, he can purchase mining equipment in installments with the help of the Cereal platform and sustain his future cash flow with the chosen cryptocurrency.

Best,
CT

[Sunil Timo]

Hi Team! where do you use smart contracts? I can’t see this clearly.

[Cereal Team]

Began to get acquainted with the projects, but it is not clear what is your ecosystem for!

Thanks for the interest to our project.

We connect crypto holders, willing to use them as collateral, with investors that can gain benefits from this. Our main platform participants are: individual and corporal borrowers, financial companies, investors, merchants.
 1) B2C and B2B: individuals, exchange services, mining companies who hold large assets in cryptocurrency and aim to cash some of it out for fiat;
 2) Financial companies (bank, microfinance companies): CEREAL will provide loans in fiat in partnership with institutional players, which gain from credit fees or interest income.
 3) Investors: investments into CEREAL are asset-based and will be used to offer different credit products to diversify risks for investors.
 4) Merchants: we launch our initial product in cooperation with the largest US provider of mininig services- Gigawatt. Their clients will be able to purchase mining hardware in installments, using it as a collateral.
 5) Cereal company: a technological company that focuses on platform developments and securing of collateral storage. It advances technological processes and benefits from service fees for credit operations within the platform.

[Sophia Audley]

Hey! Heard about you, can I get a loan if i live in Australia?

[Dolphin_se]

I want to invest money in a credit mining product through Cereal, how can I do this?