Hello steemians!

In checking out cryptos and ICOs on a daily, I have come across some pretty interesting, and some not so interesting ICOs out there, from the real bizzare, like the EOS 1 year ICO, to the ultra quick, a one week ICO.

Yet once in a while something interesting pricks my interest.

Introducing Roscacoin

The word ROSCA in this context, is a sort of acronym for : Rotating and Savings Credits Association.

A sort of banking system among individuals,who decide to all contribute money together for savings, and then can be lent out in lump sums to various individuals for a stipulated amount of time.

Once that time is reached, the money will need to be returned back.
It combines banking and lending in a peer-to-peer way.

peer-to-peer simply means a system whereby there is no central controller/server, data, information and in this case, money and tokens, can be transfered from one individual to another, without the need of a validating body(a bank in this case)

To explain some potential of this properly to my people in Nigeria, the below statment should suffice;

basically guys, una know that thing wey be say group of people go gather money, then per week or per month one person go use everything? this is the crypto and blockchain equivalent,.... well part of what ROSCAcoin can do anyway

With a global market size of 500B USD per annum, ROSCA is hoping to break into this market, and using blockchain technology, provide a more secure, more
efficient and more rubust ROSCA system.

The ROSCA ecosystem

The ecosystem is a collection of the services and solutions based on finances that ROSCAcoin will be providing to its users, either for investment purposes, or lending purposes.

The ecosystem is centered around what is called the ROSCA Credit Score, or RCS for short.

Using this as a base, services such as the ROSCA Lending Circle or the ROSCA P2P platform can florish.

The full list is below;

• ROSCA Lending circle,
• ROSCA P2P Platform
• POSCA Lucky Draw Platform
• ROSCA Charity Platform
• ROSCA Crowdfunding Platform
• ROSCA Merchant Program

Token sales and distribution

The total number of tokens is about 10billion, which is quite a lot, and they will not be reissuable.

This simply means that the token amount cannot be manipulated for any reason.

Of the total of 10B tokens given out, about 35% will be given to the team, while others will be distributed as below;

Token distribution	percentage
Team and employees	35%
Token sales	15%
Community improvement	10%
Reserved	15%
Foundation	5%
Parttnership	15%
Marketing and distribution	5%

Of the tokens sold, the funds generated, will be used to power projects that ROSCAcoin has.

Use of generated funds	Percentage
Team	45%
Office space	15%
Contractors	15%
Marketing	10%
Contigenc/future plans	5%
Future projects	10%

Interesting project

All in all, it is a very interesting project, utilizing the powerof people coming together to save, n order to push a coin forward.

The ROSCAcoin token, sort of puts value into the very act of peer2peer banking and finance methodolofy, be it between two or more individuals, or between a large crosssection of individuals.

ROSCAcoin token also provides, through the blockchain inclusion, a way to easily categorise, and monitor various large groups of people under the ROSCAcoin platform and utilizing it.

For more information, please check out the website and other relevant sites below

Whitepaper:https://roscacoin.io/wp-content/uploads/2018/03/Roscacoin-Whitepaper1-V1.0.pdf
Website:https://roscacoin.io/
Twitter:https://twitter.com/RoscacoinToken
Facebook:https://www.facebook.com/Roscacoin/
Telegram:https://t.me/roscacoin

---

---

Authored by destinysaid
btt profile:https://bitcointalk.org/index.php?action=profile;u=1874680
ETH address: 0xb83ed3e6B6497f7B0350cc053AF918aE7423037E