website : https://www.fintrux.com
FintruX is a blockchain based platform which is mainly intended for loan purposes. The marketplace they are developing is a peer to peer which will allow borrowers to lend money to lenders directly, which will reduce the fees as well as there is no middleman involved. FintruX is powered by Ethereum blockchain network and will utilize the smart contracts which will make sure that everything that is pre-agreed will happen on exact set time. Once the deal is made blockchain will make sure it goes all the way through, and that cannot be changed. The team is also introducing their own ERC compatible FTX token which will be available through the crowdsale and will power the ecosystem.
To further enhance our offering, we will make our platform available to partners such as fraud and identity service agents, credit scoring and decision agents, wallets, exchanges, banks, asset managers, insurance companies and technology companies; to offer new investment and borrower products, and develop new tools for use on our platform. These ecosystem partners can transact directly with our marketplace or leverage our automated administration
tools to build financing portfolios to suit their or their clients investing needs. We believe that the opportunities provided by these ecosystem partners will help expand the attractiveness and availability of our network.
We generate revenue from charging participants transaction fees in FTX Token. Lenders can charge their desired fees to their borrowers. Lenders can also reward borrowers with FTX Tokens if paid on time.
Competitive advantages.
Open ecosystem.
FintruX Network partners with rated agencies such as identity, KYC/AML, credit scoring, credit model, and payments to provide lenders a wide variety of choices to adjudicate their loans. These agencies all play a role in the instant matching of our lenders and borrowers.
Decentralized Reputation Ratings
We provide a decentralized review platform for all participants built on Ethereum smart contracts. Borrowers can now rate their lenders and have a reliable source of comparability between different lenders. The same for lenders who can now rate and write reviews on their borrowers and agencies; these can be used for the assessment of credit risk.
Token as transaction fee.
Many service agencies are still charging an upfront licensing fee, annual maintenance fee, and hourly customization fee. FintruX Network will convince them to charge our lenders by transaction, in FTX tokens. This simplifies the onboarding experience by removing the barrier to entry.
Decentralized Ethereum blockchain technology
The Ethereum blockchain provides the highest availability. It is decentralized and its hashing provides immense security on identification and privacy. Smart contracts are not prone to failures such as power cuts, node failures etc. There is no risk of misplacing or losing the customer contract as the contract is saved on a distributed ledger.
Data records are immutable and censorship resilient. All activities and documentations relating to each financing is locked-down with full audit, even locations and conditions of items if requested. Since the terms of the contract cannot be changed, the users are at a lesser risk of being cheated.
Many systems as a platform architecture.
Smart contracts provide transparency to both borrowers and lenders. It is unambiguous and choices made are visible on a user-friendly interface. Both parties can examine each contract at a granular level and continue to monitor ongoing performance.
Instead of one huge program to process millions of borrower contracts, our platform is comprised of millions small smart contracts, fully-customized and simplified for each borrower contract. No more "if ... then ... else" statements and unnecessary code. Smaller programs lead to lower gas fees.
This provides tremendous time and cost advantages over other P2P lending platforms.
Unprecedented risk-reduction on unsecured loans
FintruX`s cascading credit enhancements provides unprecedented risk reduction for unsecured loans making it easy to borrow at a reasonable interest rate. This is ideal in serving the underserved by unlocking funding for small businesses that need it most, especially startups.
Now when you are introduced to the basics of this perspective project , for all the additional information please take a look at the white paper at the following link : https://www.fintrux.com/home/doc/whitepaper.pdf
Official website : https://www.fintrux.com
Twitter : https://www.twitter.com/fintrux
My Profile Bitcointalk: DmitriySar https://bitcointalk.org/index.php?action=profile;u=1156662
