UniQredit is a P2P Finance Platform that provides a globally accessible and secure environment for financial services and instruments. It brings with it the experience and lessons gained from Bitcredit. UniQ introduces an arsenal of new innovations and application of existing technology to bring into existence a robust , secure and viable platform for all users , from casual to business. The platform is open to individuals, charities, companies and Financial Institutions, enabling true global financial reach from home to enterprise application.At launch UniQ supports P2P Lending, future updates will enable more complex applications such as Micro-Banking, Insurance and Equity Markets to name a few. The platform is built atop an open blockchain which keeps a record of all transactions. The UniQredit Client software is free and accessible on multiple systems, including but not limited to *nix systems , Windows, Mac and Android.

TechStrap is a server side innovation that will be made available to service providers. it is comprised of modular plugins which when added to the base server expand its capabilities by adding support for additional services and functionality. At the moment the only module available is the P2PL module which facilitates lending. Future modules will introduce advanced functions such as Micro-Banking , Insurance, Asset Management and Equity Markets to name a few. The modular design was conceived in an effort to ensure that each separate module could be used independent of others and also such that development becomes more focused on specific goals rather than a broad approach to overall system functionality. Each successive module will mark the beginning of a new cycle and will be accompanied by a complementary client side update. More information will be available on our website.

P2P Lending is the first financial service available on the UniQredit Platform, it enables access to credit from Service Providers. Users can opt to use specific server nodes to send their request to, or send to all registered servers. To use this service you need to first download and sync the client. Secondly you need to fund an address with a minimum of 100 UNIQ and then create a loan request, either through the rpc interface or through the Loan Request Page in the client. If it is accepted, you will get a message confirming the request, shortly there after, the request will be broadcast along with the details of the address you require funded. Service providers and other users can now view your request in-client or on the web interface and if your Trust rating and Credit rating is to their liking, they will loan you the funds.

Service providers can purchase a copy of the server application, register and start hosting a basenode. Basenodes process and record all transactions and perform additional tasks such as calculating trust and credit ratings. Basenodes are also the component of the network where TechStrap modules are installed and provide extended functionality and applications for the platform's users.

This is the level of trust a user builds on the platform, this is calculated by collecting all records of their blockchain activity such as, debits, credits times between transactions, frequency and lifetime usage. Using this information we can determine the average transaction amounts and volumes for a user, with further analysis we can calculate average income over in a month or cycle. This information is crucial in helping potential fund sources assess the risk of lending the user funds. Users can also gain higher trust ratings by getting votes from registered ChainIDs, or participating in the BlockShares Auctions.

Credit score is calculated based on a user's extended financial activity such as lending or banking/insurance/assets in future. The more a user utilizes extended functions, the more their credit rating rises, additional points are given for timely repayment of loans, successful contracts and long term deposits. In future, actions such as associating ChainIDs and declaring Chain Assets will result in boosts in ratings.

ChainID refers to a registered address. Registered addresses have access to more functionality than ordinary addresses, and rather than the default zero trust, zero credit , can start with reasonably impressive figures. Owners with ChainIDs are also legible to participate in dispute resolution and are due 5% of the disputed amounts after resolution. Registering a ChainID can be done in many ways, donors in the BlockShares Auctions are automatically registered, owners of servers/basenodes are automatically registered as well. If you wish to directly register, simply send 0.2 BTC or 2000 UNIQ to the registry addresses and import the private key of the address you used to send.

BTC: 1Chain21GUwxKnTd3EKswcZDAcpeRJQDGt

UNIQ: UchainBwWNCX19yGLaCJCeszvhtFoqgtcj

A registered address (ChainID) can cast votes for various issues that can either be raised by the development team or other registered users. Starting a vote is as easy as submitting it to a server and setting a time frame. Please note that the development team has a list of items we believe are not debatable, these include, but are not limited to things such as money supply cap, block reward, proof of work/stake etc. ChainIDs can also cast votes for other users/services to signal trust/distrust. Accrued votes count towards a users's trust rating and may influence how others conduct business with them.

Blacklisted Addresses and ChainIDs get negative trust and all requests except for "review" are ignored by servers using standard settings. An address becomes blacklisted after a report is made, and either arbitration fails or it is confirmed that the user has acted in bad faith. Only registered ChainIDs of servers can blacklist and address. For now a blacklisted address can continue to do basic functions such as send/ receive, but in future iterations, if there is demand, blacklisted addresses will be prevented from transacting.

A BlockShare represents a share of the available 400 shares which make up 80% of each block. Donors who wish to help fund the continuing development of UniQ participate in an open auction before the beginning of each cycle. Once the closing date of the bids passes, the bids are tallied and the shares are allocated based each addresses' contribution. Bids are made in Bitcoin sent to the unique address :-

1UniQ1TiDyGbB7KXejnjUAZMEjLCyiEPe

To collect their UniQ a donor need only import the private key of the address they used to bid.

UniQ uses a three tier system, namely clients, servers and websites.The Clients are your everyday wallet from which you conduct financial transactions and do your accounting. Servers process requests and function as Micro-Banking nodes among other things. Websites provide web access to the system and in future will act as gateways for fiat usage in financial operations of the system. While most users will have the client software, only service providers will have any use for the server application. Web code, specifically the routines and access to fiat systems will be limited to a single server to discourage fraud and money laundering.

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Based on Bitcoin ver 0.12.x
Sha256D Proof of Work
5 UNIQ block reward
1440 Daily Block target
Re-targets every 20 Blocks
80% of Block Reward Goes to BlockShares

UniQredit is fundamentally different when compared to other existing projects whose main focus has thus far been the accumulation of wealth through either expensive mining or time consuming staking. UniQ instead drives users and service providers to be more innovative and entrepreneurial in their financial dealings. Introduction of Assets, Fiat and other instruments into the blockchain will result in a larger pool of investment and because the network is global, a larger pool of potential clients and service providers.

UNIQREDIT WEBSITE

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