Uma Chit Fund - A Remarkable Company that Revolutionalizes the Borrowing & Savings sector
Welcome Everyone, before delving into what the Uma chit fund Company is about, we'll need to fully understand what the Chit funds are about. Chit funds are NonBanking Commercial institutions that originated from the country, India. Chit funds in other words, are a conventional means of borrowing & saving in which participants agree to put in a specific amount of funds for a specific amount of time. The overall amount which is retrieved by the foreman, is then auctioned & granted out as a reward money to the participant in need. This permits participants to save a portion of their earnings or profits for the time when it'll be needed.
UMA SHIT FUND DESCRIPTION
Uma Shit Fund Company is an online refined funds firm based on the Chit Funds Act (1982), It's also a nongovernmental firm that is handled by various privatized entities in India.
The title (Uma) chit funds Private Limited is actually fueled by the support of blockchain network technology. It allows various individuals to save a portion of their funds or income for the expenses they'll make in the future. Users can now be planning their various Achievements by managing their savings in an easy or simplified manner. Small- Scale companies can also manage their individual capitals & increase their revenues by making investments on this blockchain refined chit fund plans. This is going to assist in sustaining their financial architecture while paving a path for opportunities in the future to expand their enterprises. This inturn, encourages saving in a disciplined way, provides a reliable fund source for commercial emergencies, they don't just stop there, they've also got options to fully support layman individuals in the digital society.
You can also say that Uma chit funds is like a high end version of credit organizations located across the world. It provides users with limited access to various banking services and facilities, while giving them the access to the borrowing & savings schemes. The Ecosystem is also supported with smart contracts and enables a lot of extra features with data safety, transparency and High encryption.
Over the course of the article, we'll be highling some of the great features placed and automated on the platform to facilitate their funding activities and components.
PLATFORM FEATURES
Transparency Implementation
The platform is going to enable full transparency to it's users which will allow the Chit operators to locate the chit winners in every round. Nothing is going to be hidden from the holders, they'll also be regularly updated on the present chit pot worth, borrowers for every round, the interest rate of the borrowing sector, and so on. Chit holders will be taxed with a specific amount of tokens for subscribing in every round without issuing hidden taxes. Every amount of fund charged will be stated beforehand into the screen for confirmation before the members start participating in the chit rounds.
Accessibility Implementation
Chit based holders are provided with an efficient way to access or take part in the chit rounds from any type of device such as computers, mobile devices, laptops and even public shared devices. The ecosystem will make it compulsory to setup a 2-step authentication for the users to take part in the chit round. Meaning that the devices used by the users to participate in the chit rounds won't affect their privacy in any way.
UCF TOKEN DESCRIPTION
The token utilized in the platform is denoted as (UCF). This is an ERC20 based compliant coin issued and based on the Ethereum network. It is a utility token built for the funding platform.
Tokenomics
symbol - UCF
Total Token Amount - 1,000,000,000
Private sale (Softcap) - $50,000
Private Sale (Hardcap) - $100,000
ROADMAP
In 2019:
Concept initiation
Whitepaper developement initiation
In 2020:
Website release
In 2021
Whitepaper finished
Private Sale Commencements
MVP launch
Marketing Campaign
In 2022:
Public Testing & Product Testing
Final Product launch
CONCLUSION
Uma Chit fund company is working towards keeping their platform as easy as possible for users to efficiently understand the price allocations and the advantages of participating in every round. As the platform supports all users affiliated with them, they promise to truly revolutionize the borrowing & Savings sector.
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USEFUL LINKS
Website: https://umachit.fund
Telegram: https://t.me/umachitfund
Twitter: https://www.twitter.com/umachitfund
Instagram: https://www.instagram.com/umachitfund
Facebook: https://www.facebook.com/umachitfund
Reddit: https://www.reddit.com/user/UmaChitFund
Steemit: https://steemit.com/@umachitfund
AUTHORS DETAILS
Bitcointalk Username- Heroalt
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2768763;sa=summary
Matic Wallet address: 0x5B4966e5Cf0a2fdfD3009C31A8152dED58b875aF