Hi guys! A common situation: You have a brilliant startup idea, but cannot implement it because of lack of funding. You can, of course, take a loan – if they still agree to give it to you. Well, in most cases banks reject to give a loan to the representatives of small or medium-sized enterprises without a credit history. And, after all, it takes so much effort to get it: find a surety, prove a stable income, citizenship, absence of other loans, etc. It’s not easy for young entrepreneurs... Well, it wasn’t earlier. Indeed, today, thanks to modern technologies and innovative solutions, it is possible to greatly simplify the process of lending to small and medium-sized businesses, which, of course, will provide benefits for all the parties. In this article, I will talk about Debitum Network — one of the projects in this field that leverages the advantages of the blockchain technology.
B2B financing for SMEs has a suffocating bottleneck. The project team identified two main reasons for the insufficient and uneven financing of small and medium-sized businesses in different regions of the world. On the one hand, banks provide loans selectively, choosing only the least risky cases. At the same time, there is absolutely no individual approach to the client, which helps to save on expenses, but does not encourages servicing of small and medium-sized entrepreneurs. In addition, financial management in small enterprises is usually carried out by the owner, who does not possess any special knowledge in the economics or accounting. Many entrepreneurs find it easier to focus on managing their own affairs than on seeking additional external financing.
Debitum Global Solution
Blockchain technology provides all the possibilities to change the situation globally. Thanks to transparency and trust, as well as automation of processes by using smart contracts and its decentralized nature the exponential growth can be ensured. Practically, thanks to these features, you can increase the level of trust between participants and ensure the comprehensive implementation of financial services without having to contact intermediaries.
Debitum Network Ecosystem
The offered solution, the Debitum Network, which will become a platform for cooperation of small and medium-sized entrepreneurs with investors, is based on three fundamental principles: decentralization, a hybrid combination of crypto and fiat currency and trust. To achieve "true" decentralization, service providers will be organized into communities. These will be decentralized communities of alternative financial institutions that can provide loans. In their turn, small and medium-sized enterprises will be able to look for investors from all over the world, not limited to their region. The fulfillment of obligations will be guaranteed through smart contracts. It is interesting that members of the community can be people not related to the crypto world. The solution of issues, marketing, promotion of suppliers will be managed by the communities, for each of which the leader will be chosen. The community should also provide feedback to the person requesting the service, especially in case of negative experience. If the community can not provide a high level of services, a non-compliant party must be excluded from the community (or take appropriate improvement measures). For special cases, a trust arbitration will be provided.
Debitum Network Communities Trust Rating
One of the prominent characteristics of the Debitum Network will be token economy. For all operations on the platform, the DEB token will be used. It will act as a means of payment and guarantee for fulfillment of obligations, and will also be a certain trust symbol for investors, borrowers and other service providers. In order to increase the customer base, to introduce itself in the market and raise funds for the development of the platform and the successful implementation of the plans, the team launches TGE, during which 400M DEB tokens will be created and distributed (60% will be allocated for sale). The sale will last until February 25 or until the amount of hard-cap (20,000 ETH) is reached. Traditionally, you can support the project by participating in the variety of the bounty campaigns (for terms, see the links below).
Useful links:
Website: https://debitum.network/
Whitepaper: https://debitum.network/whitepaper
Bounty Thread on BCT: https://bitcointalk.org/index.php?topic=2733965
Twitter: https://twitter.com/DebitumNetwork
Facebook: https://www.facebook.com/DebitumNetwork
Telegram: https://t.me/joinchat/G6KFmURKsu0FIfJetJ3mOA
My ETH-address: 0x9F8051399114A4C8b9A742Dbb51C10162E61F234
My BCT profile link: cr_liev, https://bitcointalk.org/index.php?action=profile;u=1046642;