Once in a while, small or medium-sized enterprises (SME) need financial support in the form of loans. Regardless the amount or the purposes of funds, they need it in order to improve their business.
Ironically, the current financial institutions make it hard for those SME to get the financial support needed. The fact is their lending services are cumbersome at least in three major ways.
First, the process of lending is taking too much time. In many cases, SME has to wait for weeks or months since applying for loans until receiving the loans.
Another problem is the service requires upfront costs to cover the legal, admin, application, and intermediary fees. The amount of this cost can add 10% to 15% to the true costs of the funding. This kind of cost obviously brings more disadvantage for the business’ owners.
Then, the available access to an international market is limited or difficult to enter. So both of lenders and borrowers around the world are not connected to each other.
The lack of transparency is another issue of our existing financial system, which makes it is at high risk of Money Laundering (MA).
Obviously, we need a place where both of lenders and borrowers can have a win-win deal and be protected without spending much time and money for the cumbersome operational procedure and operational costs.
Considering the issues and also the needs of practical service to get financial support, The Deal Limited presents The Deal Coin Platform. This platform wants to fix the problems and be a new financial ecosystem.
In order to fulfil the needs, The Deal Coin teams up with the leading credit reference, identity management, credit risk, legal and insurance blockchain.
By using blockchain technology, The Deal Coin enables a simpler way of giving and receiving loans. so that it will lower the operational costs and saving time.
Blockchain technology also will ensure the security of all transactions within the platform. All transaction will be registered on the decentralized ledger (existing financial institution like banks and others use a centralized one). Then, the information will be recorded transparently on the Ethereum Blockchain, and be fully protected for repayment.
To make it cooler, The Deal Coin will build a network which will connect businesses to the professional and institutional funders around the world. Therefore, they have more choices of financial supports to choose.
It has been mentioned before that companies need loans for various reasons of improving their businesses.
Some of the funding requirements which are available within The Deal Coin ecosystem include short-term cash flow, asset finance to purchase machinery or vehicles, invoice finance, property development, green energy projects, medical and technological innovations etc.
The first is Decentralised Application (DAPP) which will supply additional information to ensure compliance with the KYC ( Know Your Customer) and AML (Anti Money Laundering) policy.
The other is Deal Lending Solution Database (DLSD), where the information supplied is processed and triggers a number of tasks awaiting verification.
You can read the rest information about the others features such as smart contracts and the lending market on its whitepaper.
The pre-sale of The Deal Coin is started on March to April 9th, 2018, and then the main token sale will commence on April 16th to June 10th 2018, with the total supply 1,000,000,000 ( 1 Billion).
Take a note that only they who adhere the KYC and AML procedures, then give sufficient details will be allowed to participate in the sale. You can learn more about KYC and AML policy by directly access The Deal Coin website on https://thedealcoin.com/kycaml/.
In its whitepaper, you will find how this platform explains the risks which may occur in the future in such an honest way. The risks are the risk of losing access to the platform due to loss the private keys, a risk of hacking, mining attacks, operational risk and other unanticipated risks.
The Deal Coin kind-heartedly reminds us that it is important to bear in mind that we have to consider the risks first before deciding to join the platform.
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ETH: 0x939e987B687d1E21d175340C02373bdDCEe31Bc7
