What is your opinion on the first SelfLoan platform we are about to make? - page 5.

Eash

newbie

Activity: 70

Merit: 0

Quote from: Murloc on November 01, 2017, 04:55:11 AM

Quote from: Eash on October 31, 2017, 06:06:06 AM

So we figure out a SelfLoan platform! Advantages are as follows:

The loan interest rate will be fixed at only 1%.

Unlimited repayment time.

Anonymous to loan. Cool

1% per hour? day? week?
And what about the security of the loan? You gona need some gurantees that the money will be returned. If you gona ask for collateral then it will hardly be annonymous btcause the user can be identified thru this collateral (at least the most popular types of collateral that are that are used online).

Thank you so much for your question. 1% forever, it means whether you return it in 1 sec or 1 year, the interest will forever be 1%. Actually we will not ask for collateral, because people can run away without return the loan. However we will set up a system which make people gain more interest if they return the loan. When people's GA reach 26th grade, they can earn 150% profit through their mining token. So in the end, this will not only solve people's emergency, but also make them invest and earn in the future.

olubams

hero member

Activity: 798

Merit: 503

Quote from: Eash on October 31, 2017, 06:06:06 AM

Hello, everyone! We all know credit loan industry may not be so nice sometimes:

Exceedingly high loan interest rate--5-20% per year;
Long approving time: about 2-5 days;
Easily privacy leakage: Almost no privacy… Cry

Isn’t it like a shabby beggar who needs to carry a mountain-like burden to walk? Sometime it is too much for us.

So we figure out a SelfLoan platform! Advantages are as follows:

The loan interest rate will be fixed at only 1%.

Unlimited repayment time.

Anonymous to loan. Cool

Do you like it and want to know make it real by support our coming-soon ICO? We are so grateful to hear your precious opinion! I will keep you guys imformed of our progress! Great bounty and campaign will be coming soon for first users!

Its really good to have a platform like this where you get to borrow money but the issue of concern here is on the basis of recovery and what will be the process of getting the loan, the information to be required and even the collateral to be submitted. We all know that privacy in anything that have to with the crypto-currency how then do you want to ensure that the people making the funds available to be borrowed are guaranteed their payment with interest when the lenders come to borrow and they are not ready to release their information and even when they do, how do you do the verification. For digital goods, I don't know how much it will worth, but would only work if you are looking at micro loans.

Murloc

full member

Activity: 322

Merit: 103

Quote from: Eash on October 31, 2017, 06:06:06 AM

So we figure out a SelfLoan platform! Advantages are as follows:

The loan interest rate will be fixed at only 1%.

Unlimited repayment time.

Anonymous to loan. Cool

1% per hour? day? week?
And what about the security of the loan? You gona need some gurantees that the money will be returned. If you gona ask for collateral then it will hardly be annonymous btcause the user can be identified thru this collateral (at least the most popular types of collateral that are that are used online).

Eash

newbie

Activity: 70

Merit: 0

Quote from: wuaimm on November 01, 2017, 04:16:13 AM

This idea and the idea is very bold, interest can also accept, just do not know the people can not accept!

Thank you so much for your kind thought for us. Yes, we also think this concept is quite interesting and revolutionary. We are keep trying too. Haha, if it success, it will become a huge breakthrough. Hope you can keep supporting us as we will have bounty and great sale around the end of this month.

wuaimm

newbie

Activity: 15

Merit: 0

This idea and the idea is very bold, interest can also accept, just do not know the people can not accept!

Eash

newbie

Activity: 70

Merit: 0

4.The trade service fee: 10% of the loan interest will be used for the operating fee of Eash platform,and for exploring to build a more functional blockchain credit system.

Eash

newbie

Activity: 70

Merit: 0

3.Risk-Control and Inflation: To make sure a user who repay the loan will gain more profit than those who don't repay.After your GA reaches 26 grade, the profit you gained from your mining will be larger than the loan you could get. In the mean time, to minus or offset the possible inflation that manually mining could bring, 1% loan interest fee will be charged by Eash to decrease the total token amount in the market.

We are very welcome to all your possible question, just throw them to me!

Eash

newbie

Activity: 70

Merit: 0

2.Vote to be GA: If the GA users vote for letting user A to be GA, and when user A reach 26rd grade, all the voters will be awarded with Eash Token. All the GA has the right to vote 5*their current rank times. When there are more GA in the system, more votes are needed to become a GA.

Eash

newbie

Activity: 70

Merit: 0

Let me introduce to you how smart contract works here:

Smart contract mechanism:

1.Pay to become GA: Use ETH to pay to the Eash smart contract address to buy token, the amount you can buy is limited.

Eash

newbie

Activity: 70

Merit: 0

Quote from: Imran1271 on November 01, 2017, 12:44:26 AM

Quote from: Eash on November 01, 2017, 12:33:42 AM

The loan process:

a) Use ETH to buy or use generate address(GA) vote to get the GA identity.

b) To originate a loan from ETH smart contract through Eash website.

c) The smart contract will automatically check if the token amount which users input is above the credit limit(according to the users' rank), and whether users already repayed the last loan.When the check pass, the new loan will be sent to user immediately.

d) When you repay the loan throgh Eash website, the token amount you need to repay is a*101%.

it will be great for bussiness in crypto market. if you have a solid strategic formula and lender and borrower combination rule as well. bur firstly you have to pay attention to connecte people with your business.

Thank you so much for your kind comment. Yes, we do have a solid strategic formula and lender and borrower combination rule. I will keep updating more and more details for you guys. And, yes, you do make a point, we are making effort on getting more people connect with us. If a platform want to success, they will need users. Tokens need users to be alive and valuable. We already have the 10k promising users, that is why we are so confident about this ICO project would become a huge success in the near future.

Eash

newbie

Activity: 70

Merit: 0

Quote from: Dragonrage201 on November 01, 2017, 12:38:27 AM

This loan concept looks very interesting. Hard to believe a 1% rate with unlimited
pay-period. Guess more details will come out once ICO is close.

Thank you so much for your support, sir. I will keep updating more details in this post. Also you can follow us on twitter:https://twitter.com/miaviolet12, will have bounty and great compaign soon. You will like it.

Imran1271

full member

Activity: 183

Merit: 100

Quote from: Eash on November 01, 2017, 12:33:42 AM

The loan process:

a) Use ETH to buy or use generate address(GA) vote to get the GA identity.

b) To originate a loan from ETH smart contract through Eash website.

c) The smart contract will automatically check if the token amount which users input is above the credit limit(according to the users' rank), and whether users already repayed the last loan.When the check pass, the new loan will be sent to user immediately.

d) When you repay the loan throgh Eash website, the token amount you need to repay is a*101%.

it will be great for bussiness in crypto market. if you have a solid strategic formula and lender and borrower combination rule as well. bur firstly you have to pay attention to connecte people with your business.

Dragonrage201

full member

Activity: 630

Merit: 110

This loan concept looks very interesting. Hard to believe a 1% rate with unlimited
pay-period. Guess more details will come out once ICO is close.

Eash

newbie

Activity: 70

Merit: 0

The loan process:

a) Use ETH to buy or use generate address(GA) vote to get the GA identity.

b) To originate a loan from ETH smart contract through Eash website.

c) The smart contract will automatically check if the token amount which users input is above the credit limit(according to the users' rank), and whether users already repayed the last loan.When the check pass, the new loan will be sent to user immediately.

d) When you repay the loan throgh Eash website, the token amount you need to repay is a*101%.

Eash

newbie

Activity: 70

Merit: 0

Quote from: sjbi on October 31, 2017, 10:48:44 PM

The problem is always the lenders, cryptocoins as a lending currency is difficult as there are no way to provide reasonable collateral which mostly involves of real goods or real estate.

The good news is we do not need collateral. We require nothing from the borrower if they are our GA.

sjbi

member

Activity: 770

Merit: 14

www.thegeomadao.com

The problem is always the lenders, cryptocoins as a lending currency is difficult as there are no way to provide reasonable collateral which mostly involves of real goods or real estate.

Eash

newbie

Activity: 70

Merit: 0

Quote from: shandi albert on October 31, 2017, 10:12:04 PM

Is there a consequence for borrowers who do not pay and how to cope (let's say bad credit)...

But this idea is very good hopefully fit ico out to be booming

Actually there is no consequence for borrowers who do not pay. Because not everyone can become our GA(generate address), to become a GA will cost their money at first. So if he run away with some token, it will do no big influence to us. We will make sure that our users gain more profit if they pay the loan than those who run away, because except you can get more token to loan next time, you can also mining token by yourself when your grade reach a certain one.

shandi albert

full member

Activity: 308

Merit: 101

FXPay.io

Is there a consequence for borrowers who do not pay and how to cope (let's say bad credit)...

But this idea is very good hopefully fit ico out to be booming

Eash

newbie

Activity: 70

Merit: 0

Yesterday a man asked me following question on another post:

I have heard that this kind of P2P self loan project will be launched soon.We all need money sometimes,and if we can not get it from bank,where can we get? A promising ICO project,can help people to get out of trouble in their hardest time.

I'd like to answer it here:
actually as we are anonymous to loan, so you don't need to worry about the borrower data, because no need of it, you are borrowing from smart contract. It is absolutely fair and no risk.

Also about the NPL. We have Risk-Control: To make sure a user who repay the loan will gain more profit than those who don't repay. Actually we don't have NPL,as all the token will be needed to buy with ETH first. It is always flow in the smart contract.

Eash

newbie

Activity: 70

Merit: 0

Nowadays, lots of investors are confused and afraid to invest ICO because there are too many scammers out there. Why Eash can earn your trust? Because imagine how much you need to invest?
0.01ETH! Moreover, if you attend our airdrop activity, it cost even lesser. So basically, get Eash token, then you start gain first. We intend to gain your trust while you gain the money. In this case, every investors are winners, the fear of losing all your money shouldn't be exist at all here in Eash.io!

Hello, everyone! We all know credit loan industry may not be so nice sometimes:

Exceedingly high loan interest rate--5-20% per year;
Long approving time: about 2-5 days;
Easily privacy leakage: Almost no privacy… Cry

Isn’t it like a shabby beggar who needs to carry a mountain-like burden to walk? Sometime it is too much for us.

So we figure out a SelfLoan platform! Advantages are as follows:

The loan interest rate will be fixed at only 1%.

Unlimited repayment time.

Anonymous to loan. Cool

Do you like it and want to know make it real by support our coming-soon ICO? We are so grateful to hear your precious opinion! I will keep you guys imformed of our progress! Great bounty and campaign will be coming soon for first users!

Topic: What is your opinion on the first SelfLoan platform we are about to make? - page 5. (Read 2370 times)