Can you explain the loan mechinasm a little better. I read the whitepaper but it is still unclear... your org will be issuing the loans? Using What?
yes off course! our current whitepaper will be more elaborated.
we will offer two main services
1. Plastic and virtual Visa Debit card that can be loaded with ONX and spent at any POS online or offline, we already selected the provider and now are working on the requeriments, we hope to be able to integrate and start offering the first 1000 Debit cards in three months.
2. Descentralized Loans Platform: the user registers at www.onixcoin.com, places an amount of ONX on a "fixed term blocked account" as "warranty" for the loans, and us as a organization, lend you a % of the ONX placed for warranty, in exchange for an anual interest. Then you can use the loan to load a debit card and have fun, travel, or you may use the loan to buy more mining equiment, invest, trading, etc, without touching your ONX savings.
So it has two benefits, you dont have to spend your savings and they can grow as the market price rises, and you can still spend ONX worldwide.
As your reputation grows at our organization, the less warranty you will need to access to a loan.
best regards!
