preliminary
Capital is a very vital thing in a business or company, without business capital can not run as it should, starting from small and large businesses that require capital.
In essence, capital is the main asset of an individual or company to run a business, which generally takes the form of funds or money.
With money, the business can run smoothly to support the production process to marketing, but it is very different for micro, small and medium enterprises (MSMEs).
The MSME category usually finds it difficult to get loans or capital to support their business.
Blockchain technology comes by creating a loan platform for business people called Pngme.
What is Pngme doing?
Pngme is a blockchain based international lending platform designed to solve funding challenges faced by individuals and most micro, small and medium sized businesses. Pngme will be developed in a market where business companies will have quick access to lend money to support their business. Pngme will be developed digitally and function as a mobile banking system that functions as a lending market for MSMEs and other financial institutions.
Mission
Pngme's mission is to build a market for people who usually do business to have quick access to loans, find ways to easily raise funds for startup businesses and enjoy financial support for their business.
THE PROBLEM THAT HAS ECOSYSTEM
Borrowing Borrowing
At present the lending market has expanded beyond what is offered by traditional peer to peer lending systems. The traditional loan market looks cruel because its structure is determined and controlled by the platform owner. The method used in checking credit scores is destructive and unrealistic. The system checks and the loan buyer or investor does not have access or the right to assess the credit score of clients who want a loan.
Another challenge in the lending ecosystem is the problem of currency differences; this makes cross-border payments difficult. This has influenced many MSME personnel to obtain loans from lenders outside their country. Although cross-border payments can be made, the exchange rate is a cause for concern. There are MSME business personnel who ask for a loan of $ 5,000, but because payments will be made across the border, he may charge an additional fee of $ 1000 as an exchange rate.
MSMEs are grassroots for the growth of any country but the majority do not have access to loans. Even some who have access to loans have been deceived by ineffective credit score algorithms which usually place high interest rates on their loans. Regardless of the rate at which the world migrates to digital systems, it still confuses me how there is little or no digital loan market in the entire world.
WHAT PNGME IS ALL ABOUT?
Pngme is a blockchain based international lending platform designed to solve the funding challenges that is confronting both individuals and mostly, micro, small and medium enterprises. Pegme will be developed a marketplace where business enterprises will have a quick access to lend money in supporting their businesses. Pegme will be developed in a digital way and serve as a mobile banking system functioning as a lending marketplace for MSME and other financial institutes.
The mission of Pngme is to build a marketplace for people that normally do business to have a quick access to loan, find a means to easily raise funds for startup business and enjoy financial support for their business.
PROBLEMS FACING LENDING ECOSYSTEM
These days lending marketplace has grown beyond what traditional peer to peer lending system is offering. The traditional lending marketplace look cruel because the structure are being determined and controls by the owner of the platform. The methods used in checking the credit score is undermine and unrealistic. The system do the checking and the buyers of the loan or investors have no access or right to checkmate the credit score of the client that want loan.
Another challenge in the lending ecosystem is an issue of currency difference; this make cross border payment become difficult. This has affected many MSME personnel to acquire loans from a lender outside their country. Though, cross border payment can be made but the exchange rate is a thing of concern. There are MSME business personnel that request for a loan of $5000, but because the payment will be made across the border, he might be charge extra fee of $1000 as exchange rate.
The MSME is the grassroots for the growth of any country but the majority does not have access to loan. Even the few that have access to loan are been cheated with an ineffective credit score algorithm which normally place high rate interest on their loan. Despite the rate at which the world is migrating to a digital system, it is still baffles me how there is few or none digital lending marketplace across the globe.
PNGME ECOSYSTEM AND HOW THE PLATFORM WORK
The Pngme ecosystem is made up of business enterprises that usually needs loan; these are big financial institutes, individuals people with large business, and micro, small and medium sized enterprises; these people are refers as 'borrower' in the platform. The ecosystem also investors i.e the lenders that lend money to the needed business enterprises.
How Pngme work is that the borrowers will initiate a lending process by rendering his digital bonds for sale and will use his digital assets as a collateral. The Pngme lending platform designed a technological collateral system which is more reliable and can cut short the default rate in a lending system. This credit scoring technology will transparently show the credit score of the borrower so that the lenders can access either to render them loan or not. Those with low credit score or defaulters might deny to have access to loan through Pngme platform.
PNGME MOBILE BANKING APPLICATION
For the platform to be easily accessible by everybody in a convenient way, Pngme has built a mobile banking application. All the functions of Pngme can be performed with the mobile banking application. This mobile banking application is available for both Android devices and iOS devices respectively. The core reasons of developing this mobile banking app is to make things easier for business enthusiasts to quickly have access to financial support for their various businesses, which will be utilized by both the owners of business and those people that will consume it. In the Pngme mobile banking app, the users can use it to make a payment, he can use it to save his funds, he can use it to connect to his customers etc. With the Pngme mobile banking app, everybody can build their own credit score. There are lot of things we are going to be enjoying while using the app. Through it, we can be able to lend money to the needed people and earn a lot of rewards.
Design features
Cellular Payment. Cellular payment
low or no charge in your local or digital currency.
Everyday Accounts
Easily create a daily expense account for daily mobile payments.
Moneybox
Get interest from money saved in your Pngme piggy bank account.
Scores
Credit Algorithmic credit scores are created from a user's digital cellular footprint.
Peer-to-Peer Loans
Borrow and borrow money at Pngme with competitive interest rates.
Pngcoin
Generate Pngcoin when you register, refer friends, or save to your Piggy Bank.
Benefits of Using PNGME
You can have access to low or no-charge cellular payments in your local fiat currency or digital currency too.
You can easily create a daily expense account for your daily mobile payments.
You can lend and borrow money on platforms with competitive interest rates in the loan market.
There is an algorithmic credit score generated from a user's cellular digital footprint.
You can have your own Pngme piggy bank account where you can earn interest from the money saved in it.
This platform allows you to get Pngcoin prizes when you invite your friends and save Pngcoin.
HOW YOU GET GIFT IN PLATFORM.
When you register for the platform score program, you get a free credit score.
You can also build credit by taking their credit survey.
You can also get prizes for registering for early access.
When you invite your friends, you also get a reward.
The more you build your credit score, the more coins you can get, and the best part is that pngcoins can be exchanged for cash in the future.
Tokenomik
Token Name: Pngcoin (PNG)
Private sales round 1 price: 1 PNG = $ 0.013 + 100% bonus (1,667 caps)
Round 2 of personal selling: 1 PNG = $ 0.013 + 75% bonus (4,167 caps)
3 private sales rounds price: 1 PNG = $ 0.013 + bonus 25% (10,417 caps)
Ticker: PNG
Tokens per airdrop: 1500
Tokens per referral: 250
Platform: ETHEREUM
Publish date: May 10, 2019
The steps that you need to complete to get your Pngcoin token are as follows:
Receive and email inviting you to:
Fill in the KYC / AML questionnaire
Agree to Airdrop’s terms and conditions
Confirm your ETH wallet address
The Pngcoin token distribution occurs in 3 phases
Phase 1: September 2-8
Phase 2: September 9-15
Phase 3: September 16-22
Coming soon
Launched in 2019, our mobile application will allow early users to get prizes, lend money, and build their unlimited credit scores.
Our second release will bring USD, GBP, EUR and KSh currencies to the user’s wallet. Allows users to make instant payments and save in their local currency.
Project Team
ADVISOR
Partner
CONCLUSION
The blockchain technology happens to be the only viable means that could sort out the issue of lending and loans for small and medium enterprises. This is where PNGME was birthed. The Pngme will open global access to financial and technical services to everyone and creates a transparent platform for interaction between institutional investors and borrowers.
For more information please follow the media links below
Website: https://pngme.com/
BitcoinTalk ANN: https://bitcointalk.org/index.php?topic=5140127
Facebook: https://www.facebook.com/pngme
Twitter: https://twitter.com/pngmemobile
Reddit: https://www.reddit.com/r/pngme/
Telegram: https://t.me/pngmecommunity
Medium: https://medium.com/pngme
YouTube: https://www.youtube.com/channel/UCmUPIgu-xfdYijOS7eOwYyg
Instagram: https://www.instagram.com/
LinkedIn: https://www.linkedin.com/company/35697946
Author: A, AL
Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=2652191
ETH: 0x843415e47e7e5019c8f0bdeffb0a0ce067a40596
