ROSCAcoin - Able to build ecosystem of financial solutions utilizing social capital and trust

ROSCAcoin is a decentralized platform system and deviates from conventional business with centralized structure. The business processes like fund management, bidding, fund allocation and fund distribution are decentralized in a way that could eliminate bureaucracy, fraud and hacking on information.

ROSCAcoin is a self-regulating, autonomous and decentralized blockchain platform. With the blockchain technology which encompasses smart contract features, ROSCAcoin able to build a financial solution ecosystem which leverages social capital and trusties to collaborate with better financial options by eliminating higher cost of borrowing, easier financing, better investment options and diversification of risk.

The Rotating and Saving Credit Association (ROSCA) is a widespread and very common method of banking in places like Latin America, the Philippines, West Africa and the Caribbean. In this banking method, a group of people gather to collect resources that they then borrow to borrow. Money continues to circulate because this is done in cycles. This is a very informal method of banking, saving, and lending.

The ROSCA method is a group of people who agree to meet for reasons of saving and borrowing for a certain period of time. This is a composite form of peer-to-peer banking (P2P) and peer-to-peer (P2P). ROSCAcoin brings this informal method on blockchain to allow more security of funds as well as transparency when it comes to scheme operations. With the "Finance For The Ordinary" tagline, the target market of ROSCAcoin is very clear; those who do not have access to traditional banking services. That's more than 2 billion people around the world! ROSCA's global market size is estimated at more than $ 500 Billion annually.

Our goal is to build a sustainable partnership with the wealthy and businesses whom would invest in the same vision to provide financial solutions and strive the accessibility of financial facilities for the people who needed it the most. As accordance to the Grameen Bank, as of 2017, the Bank have around 2,600 branches and nine million borrowers, with a repayment rate of 99.6% [2]. We trust that the repayment rate via ROSCAcoin lending concept would be good if not better than the Bank’s rate, as one’s accessibility to funding and investments via our platforms are much simpler and interesting.

### ROSCAcoin Ecosystem ROSCAcoin Ecosystem is a complete, transparent, free and effective financial solution. This Ecosystem consists of multiple financial solutions made available to our users for investment or lending purposes.

The financial platforms in ROSCAcoin Ecosystem are as below:

ROSCA Lending Circle (RLC)

• This is the main platform which based upon the ROSCA methodology. As it is popular in third world countries, hence we decide to start our ecosystem with the RLC and building the community from hereon.

ROSCA Credit Score (RCS)

• We understood that it would be hard for those without a bank account to have their own credit capability rating. Hence we decide to build the credit score system that may help them in future when bank or financial institution would consider the use of our credit score record as legit reference document.

ROSCA Merchant Program (RMP)

• Through the ROSCAcoin community, we can establish a merchant program for the members to trade goods and services using ROSCAcoin either locally or overseas, in addition able to be free of currency exchange losses.

ROSCA P2P Platform (RPP)

• This is the Peer-to-Peer lending platform which surpasses the conventional regulatory complexity of bank and financial institution that able to provide financing at lower cost to borrower.

ROSCA Crowdfunding Platform (RCP)

• The two types of crowdfunding in terms of Soft crowdfunding (investment pool, etc.) and Hard crowdfunding (machines/IoT/physical asset), are able to help the people needed to raise capital fund faster and easier.

ROSCA Charity Platform (RYP)

• The purpose of this platform is to fulfill our Corporate Social Responsibility and we believe that through the adoption of Blockchain technology, fraud and biasness on the disbursement of charity fund will be governed and channeled to the rightful recipients.

ROSCA Lucky Draw Platform (RLD)

• Everyone loves lucky draw. This is a fun and interesting platform that gives all participating ROSCAcoin user the chance to win a gift from us every quarterly of a calendar year.

The Technology

Blockchain is the fundamental technology for Bitcoin and it is the technological advancement that will change the world. Blockchain was being created to solve the financial issue like decentralized the regulations and power which controlled by one party, public sharing of distributed ledger which can be viewed by interested parties, transparent and etc. As per above explanation, Blockchain technology fits well to the fundamentals of ROSCA. With its decentralized methodology and the distributed ledger’s nature, it is sort of digital trust in the digital world. The record generated cannot be altered and as public ledgers, they are viewable by everyone. Every transaction among different individuals or stakeholders are bonded by agreement generated by smart contract. Blockchain and ROSCA is the perfect match as it is able to solve the conventional ROSCA problems. The risk will be effectively mitigated with this new technology, thus we believe the ROSCA methodology will be revived again to the benefits of many people across the world.
Users of Roscacoin are expected to interact with frontend interface, which include web interface, Android and iOS apps. They’ll also be able to interact with the backend systems, which is the Ethereum Blockchain (where smart contract is created) using PHP.

Benefits Of ROSCAcoin

The largest fee to be charged per transaction is 1.0%.

ROSCAcoin platform will be ​on both mobile, as well as web application. This makes sense considering the target market and the wide adoption of mobile devices in such areas.

Another benefit is that interest rate on ROSCA platform is quite low when compared to other conventional systems of lending. Also, there aren't too many processes involved in the save and borrow model.

Also because of the target market, internet and network services will be built to give the people a chance to use the ROSCA service. For those without access to mobile devices or the internet, ROSCAcoin Kiosks will be built where they can come to access the facility.

Token and ICO Details

ROSCAcoin tokens will be the major form of exchange across all ROSCA platforms.

The ROSCAcoin Token (RCA) is ERC-20 compatible with a Max Supply of 10 billion RCA. There will be a total of 1.5 billion RCA available for sale. The token sale began on the 1st of April 2018 with an initial​ price of 1 ETH = 40,000 RCA. You are required to purchase nothing less than 0.001 ETH worth of ROSCAcoin. Once the hard cap is reached, the sale will be closed or it will last till when the sale time ends, whichever comes first. Contributors will be able to receive their tokens within 7 days of the sale ending.