ROSCA- A Financial Leverage for the Ordinary Man!
ROSCAcoin (RCA) is cryptocurrency, Which acronyms ROSCA stands for Rotating and Saving Credit Associations, and it is supported by a self-regulating, Independent, decentralized, blockchain based platform, integrated with smart contract features, ROSCAcoin will build a financial solution ecosystem which leverages on social capital and trustees to collaborate with better financial options by eliminating higher cost of borrowing, easier financing, better investment options and reduced risk that are associated with banks loans.
Why ROSCACoin
ROSCA is a platform that allows a group of people coming together just like forming a cooperative society’s thereby deciding to put aside funds for a defined purpose of borrowing and lending to each other. A form of peer-2-peer banking (P2P), and decentralized lending system. According to Wikipedia writers; "FJA Bouman defines the ROSCA as" the bank of the poor, the money that has not been idle for a very long time and that has swiftly changed hands, meeting both production and consumption purposes " ), Cundinas in Mexico, Ayuuto in Somalia, hagbad in Somaliland, susu in West Africa and Caribbean islands, hui in Asia, palawugang in the Philippines, Gam'eya in the Middle East, kye in the South korea, tanomosiko in Japan , Pandeiros in Brazil, juntas or quiniela in PEru, Roata in Romania, and Endonesia, etc. It is an informal economy for poor people to borrow money for their needs, and the recycling of money is not always guaranteed.
In the world of over a billion people (or 17% of all adults), especially in developing countries today, using the ROSCA system will give users access to save, borrow and support one another, as such helping them create their own reliable economy of their own. Nevertheless, 39% of the world population, that is, more than 2 billion people do not have a bank account. They need help when they want to borrow money to support their common interest or pursue their dreams. There is an irony here because banking services serve only the rich people rather than poor masses, making impossible for those who don’t operate a bank account, or have social security, or have a paid job or a bad credit score, to access financial support like loans from banking institutions. In fact, these are the people who deserve the most financial support. Moreover, the interest rates on commercial bank loans are very high for these group of people. The global market volume of the ROSCA system is about $500 billion annually. This account corresponds to 10% of the total gross national product of India. Meanwhile, the lending of peer-2-peer has grown rapidly, reaching a market share of $70 billion yearly.
Token Sale/ICO Details
Token Name: RCA (Roscacoin)
Token Standard: Ethereum ERC 20
Total Token Supply: 10, 000,000 (10billion) not re-issuable
Amount of Token Sale: 1.500,000,000 (1.5 billion)
Exchange/Payment Method: ETH and BTC
Pre-ICO Period: March 2018
The ROSCACoin Ecosystem
ROSCAcoin is a decentralized blockchain Platform that is transparent, free and delivers effective financial solutions. This Ecosystem delivers multiple financials solutions to our users for investment or lending purpose, The financial platforms in ROSCAcoin Ecosystem is as follows:
- ROSCA Lending Circle platform (RLC)
- ROSCA Credit Score platform (RCS)
- ROSCA Merchant Program (RMP)
- ROSCA P2P Platform (RPP)
- ROSCA Crowd Funding Platform (RCP)
- ROSCA Charity Platform (RYP)
- ROSCA Lucky Draw Platform (RLD)
For More Details Please Visit Our Website
Website; ROSCAcoin.io
WhitePaper: https://roscacoin.io/wp-content/...
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Author by: Prince Dikeogu
MyEtherWallet: 0x7787ae13C9e423dCa0c2b9d71502D721522f0c41