Topic: [ANN][ICO] FintruX Network - 💲 THE GLOBAL P2P LENDING ECOSYSTEM ✅ 💲 - page 149. (Read 19506 times)
November 23, 2017, 02:59:37 PM
Will it be an apps for Android and IOS?
November 23, 2017, 12:59:10 PM
The front page of the website and the opening post in this ANN thread do a very good job of explaining the nature of the project and what makes FintruX stand out from the competition.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
One thing I would love to see though is some example cases to really give people an extra clear picture of how it all works, e.g. Alice registers as a lender, Bob takes out the loan and pays it all back, then Charlie takes out a loan but doesn't pay it back, etc., going on to show how the bad debt is covered, how credit worthiness is established and affected.
Hi Styca, that's a wonderful question. Please allow me to paint a clear picture, using your example. If 'Charlie' doesn't pay, the following will occur:
- ~1 day delinquent: email goes out
- ~3 day delinquent: email and text message go out
- ~7 day delinquent: email and text message and collection calls go out
- after ~1 month of no payment: over-collateralization kicks in
- after ~2 months of no payment Guarantor gets notified
- after ~3 months of no payment: Guarantor gets called upon to provide full balance payment... and if no guarantor then client will get paid from the cross-collateral pool and ultimate reserve pool for overage.
Self serve refinancing option is available to borrowers to avoid delinquencies. The number of times, amounts and terms are presented by the lenders upfront.
Lenders can rate their borrowers at the end of term from 1 to 5 stars with written review. It would be silly for the borrowers to destroy their reputation for future borrowing.
In the future, APIs can be used to connect to our systems so lenders in banks, small firms, etc. can use our well established ratings to determine eligibility their clients. Currently, if you want to borrow from a different bank within the same city, they have different fees/waiting periods because each bank has a different internal record of your credit. We are solving that.
Thanks again for this detailed example. One thing I'm still unsure about is how credit enhancement works, and the mechanisms used to prevent exploitation. Please would you be able to help me a bit on this? Say if someone takes out a lot of very small loans and pays them all back, with the aim of establishing a high credit rating... and then uses this high credit rating to obtain a much larger loan which they can then default on. Is the solution that the borrower's rating only increases in proportion to the amount borrowed? So if someone borrows $10 and gets rated 5 their credit rating increases 5x10=50, but if they borrow $100 and get a 5, their rating increases +500 ? I appreciate I'm being over-simplistic. Apologies if I'm also being stupid!
November 23, 2017, 12:55:07 PM
Will your token will be in exchanges?
I suppose that their tokens will be on echanges after the sale ends. November 23, 2017, 09:44:09 AM
We are proud to announce to the community that we have
2 additional experts joining our advisory board to take us to greater heights.
/2zYVZpi]
2 additional experts joining our advisory board to take us to greater heights.
/2zYVZpi]
November 23, 2017, 08:39:34 AM
that very nice for give news , i think FintruX very attractive for give update ,
and marketing promotion , so more people can to be see and review for this project and intersted for join
and discuss on this project overall dev very active and good team
and marketing promotion , so more people can to be see and review for this project and intersted for join
and discuss on this project overall dev very active and good team
November 23, 2017, 07:19:19 AM
I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors!
Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all.
Yes, our phase II is cross-border lending. We want borrowers to access funding worldwide.
November 23, 2017, 06:17:46 AM
I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors!
Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all.
November 23, 2017, 06:09:01 AM
FintruX is the highest rated ICO on ICO Bench! Join the Pre-Sale by clicking below!
Correct! Please make sure you pre-register for the token sale to participate!
November 23, 2017, 06:06:51 AM
Will your token will be in exchanges?
November 23, 2017, 05:53:29 AM
We are proud to announce to the community that we have
2 additional experts joining our advisory board to take us to greater heights.
2 additional experts joining our advisory board to take us to greater heights.
glad to see the news ,FintruX team member is strong day by day ,i hope will receive more good news frequently.
November 23, 2017, 05:48:30 AM
is registration easy or have we to download something?
You don't need to download anything. 
November 23, 2017, 05:40:42 AM
What is the next step in your calendar?
You have the answer in this page. The registration period has start! 
November 23, 2017, 05:02:55 AM
I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors!
Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all.
November 22, 2017, 07:07:27 PM
We are proud to announce to the community that we have
2 additional experts joining our advisory board to take us to greater heights.
2 additional experts joining our advisory board to take us to greater heights.
November 22, 2017, 06:28:50 PM
I'm from Europe and I would like to know if the token sale and presale is open to european investors
The presale is definitely open to European investors!
Is there a worldwide project?
This is definitely a worldwide project! Our end goal is for borrowers to borrow from any lender in the world - unlocking the money and increasing the living standards of all.
November 22, 2017, 06:26:30 PM
Is there a worldwide project?
November 22, 2017, 06:10:33 PM
I'm from Europe and I would like to know if the token sale and presale is open to european investors
November 22, 2017, 04:48:14 PM
Interesting project. I liked this response in the telegram:
FintruX is bringing scalability and security to the Ethereum world via Microsoft product offerings. Our development team Robocoder Corporation are licenced ISV partners of Microsoft for the last 20 years, and all solutions they develop for FintruX are also backed by Microsoft.
I still wonder why you want Microsoft to back you so much when your goal is to make loans. It's great you are using Microsoft products - - but i don't usually associate Microsoft with "security". I also don't think most banks currently use Microsoft for that very reason.
So maybe there is a huge untapped market there you can fill.
Good luck dev team!
FintruX is bringing scalability and security to the Ethereum world via Microsoft product offerings. Our development team Robocoder Corporation are licenced ISV partners of Microsoft for the last 20 years, and all solutions they develop for FintruX are also backed by Microsoft.
I still wonder why you want Microsoft to back you so much when your goal is to make loans. It's great you are using Microsoft products - - but i don't usually associate Microsoft with "security". I also don't think most banks currently use Microsoft for that very reason.
So maybe there is a huge untapped market there you can fill.
Good luck dev team!
November 22, 2017, 04:39:42 PM
What is the next step in your calendar?
You have the answer in this page. The registration period has start! And did the presale start or is it the next step now?
November 22, 2017, 04:34:40 PM
I'm very interested in the project, especially after the valuation of 4.8
How can I buy tokens?
How can I buy tokens?
Jump to: