UNION is a decentralized peer-to-peer lending and savings marketplace platorm, which connects borrowers and lenders from all over the world in a trusted, fast and uncomplicated manner leveraging the benefits of Smart Contracts and Blockchain technology. The platorm will serve as an ecosystem for banked and unbanked individuals to create and partcipate in various decentralized financial products.
Problem
Traditonal lending insttutons maintain rigorous regulatory and loan approval requirements to protect the
end-user. As a result, a large porson of the world’s populaton does not have access to lending services.
Individuals who did not fulfill a compulsory minimum credit history and small businesses operatng in emerging
markets find it difficult to gain access to the traditonal financial system. This has given rise to an increasing
demand for peer-to-peer lending services.
Solution
Union proposed soluton through the blockchain technology implementaton. The rapid advancement of blockchain technology has led to a fundamental shift away from conventonal lenders being the leading intermediary in the lending industry. Peer to peer lending is gaining momentum as the next development in the financialxservices sector. Union leverages the added of both blockchain and cryptocurrency to improve the experience of both lenders and borrowers. We have therefore, developed a platform, which supports cryptocurrencyand fiat currency for the purposes of peer-to-peer lending.
Why Union ?
At Getunion,believe that every individual or organization with a need for liquidity and with the ability to repay should be able to save collaboratively without much hassle and friction. However the current model or the traditional financial system, suffers from following disadvantages
Inefficient and Time Consuming
Typically process takes 4-5 days to finish given the borrower has a credit history available and a good credit score. The borrower is derived of his working capital till the time his documentations are verified, and this being a manual process, is extremely inefficient and time consuming.
Costly Intermediaries
Banks or agents levy hefty service charges or transactions fees against the amount which creates further friction in the ecosystem as well as makes financial institutions lose their competitive advantage.
Increased Chances of Fraud
As the application moves through the entire lifecycle of transaction the chances of fraud or documentation tampering increases. It may further lead to funds being disbursed to the wrong entity as well as the chances of fraudsters exploiting the ecosystem increases.
What is Union ?
Fully Automated
Fully automated blockchain powered ecosystem for instant transaction settlement.
Faster access to capital
Getunion robust scoring and rating system makes sure that the funds are sent instantly in a completely transparent and secure manner to individuals or SME’s.
No Costly Intermediaries
Union removes any costly intermediaries from the process and allows individuals and organizations to connect directly and enter into a mutually agreed transaction.
Token Distribution
80% Crowd Sale
10% Union Team
8% Marketing Expenses
1%
Testing and Bug Bounties
1% Initial Investors
Union Token
Getunion token is a customized and decentralized token designed by crypto lending professionals. We encourage interested investors to be part of the token sale event as we offer bonus to those who invest during the first two weeks of ICO.
To meet the need of all Getunion investors and protect their right, our legal team developed a unique legal instrument to protect ICO investor’s rights. And we are proud to describe this structure for all our investors. We plan to keep the entre transacon process as transparent as possible.
Token Sales
Token Sales is an event in which a new blockchain project sells part of its token to early adopters and believer in company’s mission, in exchange for funding. It has become a well-respected method to raise fund to start or scale a company. The token sale participants are invested into the project and provide long-term support for the company.
Union Prodtuct Offerings
Union Pool
A decentralize platform for Collective Investment Schemes. Smart contract to automate saving and lending process amongst trusted friends.
Union Lending Authentication (ULA)
Algorithm to calculate the social standing score based on various factors such as timely payment of previously participated Union Pool, fulfilled union social commitments, social media accounts, etc.
Union Social Commitments
Individuals within the platform can create a commitment contracts, and upon successful completion of the contract, individuals can receive a positive score towards their social standing.
Union Advances (UA)
A smart contract to automate the entire process of bill discounting. Individuals discounting their own company’s bill or on behalf of the firm, will be able to leverage their social standing score in the Union to get a better borrowing terms, and discounts.
Team
Members
Kamal Anandani – CEO
Amitesh Sahu – CTO
Nikisha Biyani – Solution Architect
Prakash Verma – Marketing and Communications Head
Girish Nayak – Digital Marketing
Kaushalpal Singh – Product Development
For more information visit the links below:
Website - http://www.getunion.io/
Whitepaper - http://www.getunion.io/Union_Whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=3123614.0
Telegram - https://t.me/UNI_Token
Author : butko
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1154983
0x9F36063f4Ca2C94b98eF0457B1c071eDF09cCA3F