Peer-to-peer (P2P) lending is a new type of “sharing economy”. P2P lending platforms help connect investors with borrowers without the bank acting as an intermediary. Between 2014 and 2015 the value of global P2P lending was expected to rise to a value seven times what it was in 2014 — from 9 billion to 64 billion U.S. dollars. By 2050 the value is expected to be close to one trillion U.S. dollars.

Peer-to-peer (P2P) lending is a method of debt financing that enables individuals to borrow and lend money without the use of an official financial institution as an intermediary. Peer-to-peer lending removes the middleman from the process, but it also involves more time, effort and risk than the general brick-and-mortar lending scenarios. P2P lending is also known as social lending or crowdlending.

Crowd Genie building First Business Loans Asset Exchange

Crowd Genie is one of the few licensed and fully operational peer-to-peer
digital lending platforms in Singapore. It was granted a “Dealing in Securities” license by Monetary Authority of Singapore (MAS) in March 2017. The company is now embarking on a token sale to enhance its platform, reach global markets and scale revenues.

Crowd Genie Financial Services Pte. Ltd. is incorporated in Singapore. It runs a peer-to-peer marketplace lending platform that brings together Borrowers (which are SMEs) in Singapore, and Lenders.

The platform will deploy Blockchain-technology to address some important problems in the sphere of landing. Introducing Blockchain will fundamentally reduce the cost of borrowing providing additional benefits for Borrowers as well as for Lenders. In addition, AI-powered credit scoring engine and transparency provided by Blockchain the platform will offer comfortable ecosystem for capital exchange between participating parties. Moreover, with the blockchain and smart contracts, new assets like groups of fleet cars, buildings, and even commodities can all be tokenized providing more liquidity, better price discovery, and wider distribution of assets.

Key features:

• Crowd platform focused on lending to SMEs (small/medium sized enterprises)

• Monetary Authority of Singapore compliant KYC and due diligence performed for all users

• First platform in Singapore to introduce provision fund — GenieShield — to protect Lenders from delayed payments and defaults

• Only platform where directors co-invest in every investment

• Strong track record, with no loss of capital for investors in any listing for the past 18 months

• All loans backed by personal guarantee of Borrower company’s director(s)

Detailed description of all Platform’s functionality and advantages could be found in Crowd Geine Whitepaper.

CGCOIN — the Crowd Genie token

The token — CGCOIN — is released by CGSPV Pte. Ltd., a Singapore-registered related company of Crowd Genie Financial Services Pte. Ltd. (CGFS). CGCOIN will fuel Crowd Genie ecosystem providing the following functions: ensure KYC and MAS compliance for lending operations, provide value transfer within the platform, implement asserts tokenization and build reputation within the platform.

When transaction is conducted in CGCOIN tokens, the Lender will purchase CGCOIN tokens and transfer them in the appropriate amount to the Borrower, who in turn will be able to use those tokens for either conversion into fiat currency or keep in cryptocurrency. This will ensure a natural demand for CGCOINs in the future. The price of the CGCOIN will be determined by the fact that it is traded on distributed exchanges. This will ensure that there is a natural demand for CGCOINs in the future.

It is worth to mention that CGSPV Pte. Ltd is going to support CGCOI by listing on major cryptocurrency exchanges and applying buyback procedure purchasing the tokens at a market price at the end of every quarter using 80% of the net profits.

Crowd Genie ICO

The ICO is ongoing and will end at the 01th of March 2018. At the current moment the ICO is at the first round of sales with minimum purchase of 40 CGCOIN tokens (0.1 ETH) and bonus 25%. It is already have been raised $ 1,800,000.

Token CGC is the ERC20 standard token. Conversion Rate is 1 ETH = 400 CGcoins. This ICO aims to raise $ 35,000,000 (Hard cap) with minimum capital needed to lauch the project of $5,000,000 (Soft cap). For more information on token sale, please, refer to Geine official website.

This review was inspired by the translation and localization project completed by the team of ICO-Translate.com for Crowd Geine project. The original article is published in our blog.

Source:

Official ICO website: https://www.genieico.net
Bitcointalk Announcement: https://bitcointalk.org/index.php?topic=2434698
White Paper: https://drive.google.com/file/d/1um3ClBgZr0Uoh2h6dk01zXhE_hiE7FFa/view
Telegram: https://t.me/genieofficial
Twitter: https://twitter.com/Genie_ICO
Facebook: https://www.facebook.com/genieico/

This review was prepared by albermaze.