FintruX | The Global P2P Lending Ecosystem Making Unsecured Loans Highly Secure
website : https://www.fintrux.com/
"Getting an unsecured loan can be easy, fast, and affordable with FINTRUX ecosystem rating agencies, decentralized technology and revolutionary credit enhancement".
Hello every one!
Let’s take a look at the world’s first blockchain based online marketplace and automated administration platform for Financing connecting borrowers and investors, enabling them to configure and automatically construct each borrower contract real-time fintrux.com
FintruX is proud to announce that we have successfully completed our public presale! We are very grateful for your contribution and continuous support and engagement!
Cost reduction is one of the most important motivations in securitization. It is often done via credit enhancement. We can apply the same principles to reduce the interest rate required by unsecured loans, making it attractive to both borrowers and lenders.
Goal FintruX Network is to disrupt the way unsecured loans are being originated.
What is a FintruX?
FintruX networks is one of the world’s first Blockchain, based online marketplace and automated administration platform connecting borrowers, lenders, and specialized servicing agents, enabling them to configure and construct each borrower contract real-time.
FintruX Network is creating a marketplace and automated administration platform for credit enhanced financing serving small businesses as borrowers, accredited investors and financial institutions as lenders, and specialized service agents as partners.
By disrupting the way financing is being secured, we make borrowing and lending a no-brainer for both borrowers and investors. FintruX Network is the necessary ecosystem for unsecured loan participants, placing more and more freedom in the hands of the people.
Marketing strategy FintruX
The funding raised through the crowdsale will be used to accelerate the building of the FintruX Network to move it from alpha into beta and production in partnership with a few financing partners during Q2–2018. Pending on the success of the crowdsale, the distribution of funds will mainly go towards development, infrastructure and key hires such as developers and marketers.
MARK REVIEW
Traditional system is inadequate
Many Intermediaries
Most of the financing still comes from third parties such as brokers and other intermediaries. They sell their contract to a bank or originator who has a line of credit obtained from the bank. Credit line costs are then passed to New borrowers when their portfolio to a very large size of originators can securitize their contracts to get lower funding costs.
Fragmented and inconsistent
Most of the systems used are not fully automated, records can be fluid, censored, and subject to state patriotic action domicile. Today, various parties will keep a copy of their own data, and process it separately. This makes it difficult to sync and collaborate through a shared process. This adds tremendous complexity and cost to the audit.
Labor Intensive
Most financing contracts are difficult to understand and special
instructions such as refinancing, prepayment, semester final processing, etc. are mostly done manually on a spreadsheet.
Startups and Small Business are served
There are many small businesses, especially beginners, who are
failed to get a loan from the bank:
- The amount of required loan is too small for the bank.
- Loans are usually carried by brokers who do not earn enough incentives on smaller loans to be followed up.
- Banks usually take a long time to reach a decision.
- The requirements of bank documentation are very high.
- Some small businesses do not meet PT's internal policy parameters banks even though they are worthy of credit with other standards.
Small Business Financing is Important for the Economy.
Cash flow is a problem for many businesses, and while fluctuations in cash flows may be small, they can have a profound effect on business.
ability to run This is where unsecured loans come in. The ability of small businesses to access affordable credit is essential to stimulate and sustain a healthy, diverse and innovative economy. According to the Federal Deposit Insurance Corporation (FDIC), such as
March 31, 2014, there are $ 292 billion in commercial and industrial loans outstanding under $ 1 million.
Borrower Served Non-Current by Current Lending System.
Because underwriting underwriting fees and services are high, traditional banking systems are not suitable to meet the demands of small businesses
financing and the possibility of incurring additional fees and penalties. Online financing portals trying to bypass intermediaries have failed to resolve this issue.
The Lender has limited options to participate in small business financing.
Since individual investors generally do not have the size and access to invest in directly structured products, they can not invest in small amounts of business credit. While institutional investors have some access to this market, most have no tools to adjust their specific risk tolerance portfolio, and the banks that access these markets generally hold the loans they generate on their balance sheets. As a result of, we believe that the additional capital that can be invested in small business loans has largely been locked out of the market.
The following distribution of funds is preliminary and can be subject to change.
Use of funds :
Token Distribution :
FTX will be issued at the start of our sale. Once completed, no further tokens will be generated.
- 10,000,000 FTX (10% of total supply) will be available to contributors in our private sale prior to public pre-sale based on a purchase & sales agreement.
- The unsold FTX during the private sale will be available for sale in the public sales.
- The team has pre-determined a minimum goal of 5,000 ETH that represents the runway necessary for the core FintruX platform to be finished and released with minimum functionality.
- If the minimum goal is not reached by the end of the crowdsale duration, all contributed Ether will be marked for refund.
- Anyone who contributed, including those who purchased our tokens at presale, will be able to withdraw their Ether from the sale contract.
- Provided that the minimum goal has been reached, any tokens not sold in the crowdsale will be distributed to all contributors.
Our launching price formula is based on the base price plus five tiers diminishing incentive bonuses representing a normal distribution with a standard deviation. The base price of FTX is 1,500 per ETH.
The bonus model will follow what has been sold during the presale.
Example: If we sell 5,000 ETH (8,250,000 FTX) during the presale, the 1st tier would start at 5,001 ETH and add another 2,000 ETH on top of that. The remaining FTX at tier 5 will become 29,483,000 FTX.
Under that scenario, we continue through the tiers until the maximum goal of 75,000,000 FTX has been sold.
FintruX Network reserves the right to change the number of tokens in the tiers before the crowdsale begins. We will be distributing FTX 2 weeks after the crowdsale ends. The end of the sale can be triggered by:
- Hitting our hard cap of 75M FTX Sold.
- Reaching the end of the sale period (Feb 28th 17:00 UTC).
Our participants may track their contributions on our website after being approved through KYC
KEY FEATURES
TECHNOLOGY
Blockchain
Our market utilizes blockchain technology
which offers all participants consistent, shared and
safe process The nature of decentralized blockchain enables completely trustless interaction between parties that remove third party fees and commissions. Our platform utilizes the Ethereal blocking and
Its smart contracts provide a comprehensive development environment and a great community.Personal, high
Performance Storage
To process certain transactions, private and
Confidential information is required to be stored and
exchanged. Our storage is a secure SQL database. I t
complement the blockchain network by providing
quick access to data such as borrower or other records
Confidential information Some level of security, external authentication and the use of a strong profile is involved.
GREAT DATA
Roadmap
FintruX Team
The FintruX team is very strong and consists of 6 people. There are also 6 advisors helping with the project. Business partners include Microsoft, Enterprise Ethereum Alliance, Robocoder Corporation, and Cynopsis Solutions.
FOUNDER & CEO
Nelson Lin
Nelson pioneered online credit adjudication for the asset-based finance and leasing industry in Canada as mentioned in the book ‘Unstoppable’ published 2014 by Beth Parker and endorsed by the Canadian Finance and Leasing Association (CFLA). He has over thirty years of experience delivering numerous custom enterprise applications to global organizations such as J.P. Morgan, AT&T Capital, etc.
CO-FOUNDER & CMO
Conrad Lin
Completing a degree specializing in Neuroscience and Psychology from the University of Toronto, Conrad is deeply in tune with social marketing and outreach. He defines long-term marketing goals and short-term tactics, builds key customer relationships, identifies business opportunities, negotiates and closes business deals, and maintains extensive knowledge of current market conditions.
CTO
Gary Ng
Gary is a veteran in software development and has been a seasoned architect in the financial sector for the past 25 years, including some of the top global banks. He is skilled in all major programming languages and computing platforms. He has been instrumental in turning our low-code development platform into a no-code generator for smart contracts. Scalability and security is his main focus.
FRONT END DEVELOPER
Aaron Xu
User experience has been Aaron’s forte for the last 8 years. He has formal education and practical training in web development and digital design. He designs visually stunning user interfaces that integrates well with all other software. Aaron is adept at generating responsive mission-critical applications with low-code technology and designing easy to use apps.
BLOCKCHAIN DEVELOPER
Douglas Thiessen
Douglas is a full stack developer on a wide variety of computing languages for 12 years, including a full suite of blockchain technology and Smart Contracts with Solidity. Passionate on security and quality, he tests his code extensively by applying Scrum methodology. Douglas’ technical expertise enables him to evaluate and tackle complex programming challenges.
DATA ANALYST
Philemon Selvaraj
Philemon’s passion and expertise is in data analysis, machine learning, AI, and business intelligence. He brings with him 13 years of analyst programming experience in the accounting and financial sectors, including mission-critical systems for large fortune 500 companies. He has both MBA and engineering degrees and international experience.
ADVISOR
CHAIRMAN OF THE BOARD
Yew Poh Leong
YP grew Dun & Bradstreet Software from 15 to over 250 employees as a managing director in Asia. He has provided business solutions and services to well-known corporations including Telekom Malaysia, Hong Kong Telecom, PLDT, Communications Authority of Thailand, Shell, Prudential, AIG, Starwood, Minolta, National Panasonic, Sony, Aiwa, Standard Chartered Bank, Malayan Banking, Bank of China, etc.
INTELLIGENCE ADVISOR
Dr. Jonathan Calof
Dr. Calof has received Frost and Sullivan’s award in competitive intelligence, and others. He has given over 1000 speeches, seminars and keynote around the world. With over 150 publications, his extensive and successful track record has allowed him to combine research and consulting in competitive intelligence, technical foresight and business analytics to help FintruX develop key insights on its competitive environment.
BUSINESS ADVISOR
Yash Mody
Yash co-founded and built Orchid Leasing to finance transportation and equipment leases. He implemented real-time decision and predictive analytics software at Fortune 500 companies which helped him design a proprietary end-to-end lease portfolio management and collections tracking system. With his technical knowledge and financial entrepreneurship, he is a great resource to FintruX Network.
STRATEGIC ADVISOR
Hussein Hallak
Hussein is a serial entrepreneur, speaker, startup advisor and investor. Building over 20 startups, he has mentored and trained 1000+ entrepreneurs. Featured in Forbes, BBC, Entrepreneur, DailyHive (VancityBuzz), Business In Vancouver, Roundhouse Radio, and Vancouver Courier. He brings extensive knowledge of startups, innovation, strategy, growth, marketing, and social media to FintruX Network.
LEGAL ADVISOR
Binh Vu
Binh is a lawyer practicing in the area of corporate finance and securities law. Binh practiced law for 10 years in Toronto at WeirFoulds LLP and as partner at Aird & Berlis LLP before becoming corporate counsel and advisor for start-ups. He holds LL.B and BSc. (Neuroscience) degrees. Binh is an active member of the Law of Society of Upper Canada and provides legal guidance to FintruX Network.
FINANCIAL ADVISOR
Victor Yuen
Victor is CFO of ZWEEC Analytic. Armed with over 10 years in the finance and accounting profession, he was managing partner specializing in audit, tax, insolvency, corporate secretarial, accounting and business advisory. Victor is a Fellow of the Association of Chartered Certified Accountants (FCCA) and an Accredited Tax Practitioner. His extensive financial experience is a great asset to FintruX Network.
COMPLIANCE ADVISOR
Dan Poh
Dan has 6 years of experience in Financial Sector including being part of Tier 1 Investment Bank & Private Wealth Management such as JP Morgan, Deutsche Bank & Bank of America. His last few roles with the financial firms covers mainly Regulatory, Risk, Compliance as well as FICC Support. Dan is currently a director at Cynopsis Solutions. He brings sales strategy, client servicing and compliance to FintruX Network.
ADVISOR
Elie Galam
A mathematician and alternative investments expert, Elie was a Portfolio Manager for Two Sigma investments, a 40 Billion dollars quantitative hedge fund. Elie received a Masters in Applied Mathematics from Harvard University and a Masters in Engineering from Ecole Centrale Paris. He is passionate about bringing blockchain, digital assets, and cryptocurrencies to the financial ecosystem of FintruX Network.
BLOCKCHAIN ADVISOR
Abhijith Naraparaju
Abhijith is a blockchain solution architect, with official degrees in Electronics and Communication Engineering. Having worked at Syntel (Nasdaq:SYNT), he currently holds a position as Region Head at Blockchain Education Network. Abhijith is confident and dedicated to drive FintruX Network’s success, starting with its smart contract technology.
BANKING ADVISOR
Jure Soklic
CO-Founder and CEO / Hive project. Jure is an executive and consultant with extensive experience in the international financial industry. He is an expert in eCommerce, digital marketing, omnichannel, retail, business development and start-ups, and has strong track record in the field of finance, consumer durables and marketplaces. As a true believer in a decentralized economy, he works with FintruX to serve the underserved.
DETAIL INFORMATION
Website : https://www.fintrux.com
Whitepaper : https://www.fintrux.com/home/doc/whitepaper.pdf
ANN : https://bitcointalk.org/index.php?topic=2286042
Facebook : https://web.facebook.com/FintruX/?_rdc=1&_rdr
Twitter : https://twitter.com/fintrux
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