The system of the world seems not to reward virtues but vices. People who are trying to outsmart others of their hard earned money are the ones that seems to get rewarded while those who have chosen to possess virtues such as helping others and giving to support others are almost being perceived as weakling or even as fools. However, there is a platform that still believes in rewarding generosity and rewards those who are willing to provide help to others. This platform is no other platform that the Ethic Hub platform.
What is Ethic Hub?
Ethic Hub universalizes access to worldwide budgetary market, interfacing speculators to dissolvable tasks. It offers a wide arrangement of venture openings, recorded upon its risk evaluations and in the meantime permitting access to little makers which are a critical piece of the 2 billion yet avoided. Furthermore, along these lines accomplishing benefits for the two sections: the giver and the receiver; with Ethic Hub, finally helping winds up gainful.
Ethic Hub underwrites put stock in: Human Based Economics, financial validity in view of human relations and group's social resources: closeness, correspondences, support, reference and duty. Venture chance assessment is done through the frameworks key figure: Local Node (field evaluator), a man in coordinate contact with borrowers, benefitting just from on-time credit installments and from their assessment precision, which turns them into a reference for financial specialists. Moreover, each advance will relatively add to create a certification store to secure the financial specialist, which in the event of default will most likely recuperate the contributed sum.
It is important to note that Block chain innovation and SmartContracts make another level of crowd lending conceivable, enhancing its security and straightforwardness, consequently empowering exchanges between outsiders. Expenses are fundamentally decreased by exchanging Ethereum perfect tokens specifically from speculators' to borrower's wallets without money related go-betweens; A decentralized framework offering ascend to genuine universal crowd lending, and furthermore taking into consideration chance expansion: putting little tickets in different ventures.
What is LendingDev?
As an engine is to a car, so is LendingDev to Ethic Hub. LendingDev is a non-profit organization deliberately set up to offer services to Ethic Hub. Its transitory capacity is to characterize and build up the stage methodology and instruments to empower its decentralization once it achieves ideal conditions to wind up independent.
Currently, LendingDev will oversee Pre-Sale and ICO assets, choice of work force and suppliers for platform improvement as well as launching, Local Nodes selecting and preparing, individual and institutional investors enrolling, lawful administrations employed on the two borrowers' and investors' nations to legitimately approve all advances, and to put surplus treasury in financing first tasks to create starting appraisals.
How does Ethic Hub works?
Ethereum decentralized network ecosystem is adopted by Ethic Hub to additionally build up an officially strong and surely understood framework which bolsters complex smart contracts, fit for taking care of the majority of the expected data to effectively manage consensus amongst investors and borrowers and in addition pre-decided factors of a credit's span, financing costs and reimbursement date, among numerous others. SmartContracts ensures that the conditions that had been initially set up can't be adjusted later.
Tokens encourage the transfer of money, limiting overhead expenses and disentangling the framework: the Ethic Hub related Exchange will change over tokens from borrower's Wallet to their nearby cash. At the point when this neighborhood money is utilized to pay back the advance, the Exchange will change over it again to tokens before exchanging them to comparing speculators Wallets.
Vital components of Ethic Hub
The ability of people to connect with each other directly is our model at Ethic Hub and is one of our greatest assets: Ethic Hub relies on technology but people remain the motor of its operations. People also include Local Node Who knows borrowers and has access to their production areas; Fully identified agricultural communities (borrowers) trading their product within collection centers, i.e.: sugar cane producers; Buyers (Collection centers) who benefits from the increased volume of production due to increased financing; Socially responsible investors (lenders) who decides where and how to invest their money, evaluating a project’s positive impact when they decide in what to finance, and who recommend the platform to other investors based on a satisfactory user experience; Agents willing to provide insurance services to investors; LendingDev’s Staff who are purposefully built, fully aligned and committed to the project team.
What are the commissions charged by Ethic Hub charge and what interest do the borrowers pay?
Third parties fees in Ethic Hub network total 7%; a majority of it (about 4%) belonging to Local Node’s commissions; approximately 1.5% to increase investors recruiting (although cost will be much higher on first years); the rest of it is used to cover platform’s development and general costs as well as Institutional Investments recruitment costs. In the future rates may be adjusted since LendingDev is a non-profit organization.
In addition there will be an Exchange commission charged for each conversion according to supply and demand law, choosing each time the Exchange that offers the best conditions. 2% will be approximate cost for borrower. To overcome investors’ hesitation to such an innovative product and to compensate for exchange rate risk, we need to offer a net profitability of about 15% (before exchange rate risk).
All in all, our hypothesis is that the effective interest supported by borrowers for annual loans amounts to about 27%. Currently this same borrower profile, if able to get credit at all, is supporting interest rates above 100%.
Is there a minimum and / or maximum amount for the loans?
At the beginning, and since the initial development and promotion will have a significant cost, we will focus on loans between € 1,000 and € 2,000 per borrower, aimed at small farmers in Chiapas, Mexico, choosing this area due to our previously attained know-how relative to how to obtain minimum rates of default in these communities and it meets the objective of facilitating credit access to unbanked people, in addition to being projects with a positive impact.
What makes Ethic Hub distinct?
You might be wondering what makes Ethic Hub different considering the fact that there are other similar platforms. SaltLending and CoinLoan for example which are similar platforms are focused on token guaranteed loans, so it will remain a niche project until an important economy’s tokenization process is generated. Its borrowers are already banked. Well, we are the only platform that charges commissions only if there is an occurrence of achievement, that is, previously the advance has been paid. We believe that nobody should profit by an unpaid credit.
Our methodology to select and assess ventures depends on individuals. At Ethic Hub, Local Nodes are individuals connected to the group they serve. They benefit straightforwardly from keeping up and expanding their reputation in view of the precise valuation of the activities they select. Local Nodes likewise create another upper hand: they are the most ideal approach to distinguish clients (presumably the best issue of decentralized P2P credit stages, since it is difficult to approve the presence, nor moral nature of somebody requesting a miniaturized scale advance from over the world).
Why Ethic Hub?
Joining the Ethic Hub platform is a smart choice because of the following reasons:
Ethic Hub is against the notion of “dog eat dog’’ society. Only positive impact projects are undertaken.
Universal access to credit and better investing opportunities humanizing the financial sector
The Platform is set out to eradicate the problem of lack of credit for harvesting which has a negative impact on food production.
Direct P2P economic interaction between investors and borrowers because Financial intermediation is eliminated through Blockchain developed SmartContracts, allowing for faster, more efficient and safer payments.
SmartContracts with automatically regulated timelocks (defined time span to gather total loan amount), P2P transferences between borrower and crowdfunders (multiple investors), payment times and loan rates for the borrower as well as distribution of profits for investors, Local Nodes and Ethic Hub. Money is directly transferred without involving a third party, not even LendingDev.
Only-in-Success Fees- We are a unique platform, charging fees only in case of success: that is, once the loan is fully paid.
Ethic Hub’s real value contribution.
Guarantee fund for investors- Once a critical mass of users is reached, each loan will contribute proportionally to generate a guarantee fund to protect the investors, who in case of default, will recover the invested amount (principal), so they would only assume the exchange rate risk.
Ethic Hub platform enables access to credit for the agricultural sector which is a significant part of the 2 billion unbanked people
System based on Trust as an asset.
Proficiency in project selection.
Born in Blockchain Age- Ethic Hub was born and raised in Blockchain age, benefiting from its advantages from its conception. Unlike traditional banking, we do not need to adapt traditional financial structures to our model: our architecture is fully supported by and for Blockchain technology.
Joining the Ethic Hub platform ensures that you are one of those few noble individuals who still believe in helping others. However, Ethic Hub ensures you are also a beneficiary of your benevolence.
ROAD MAP
H1 - 2017
Concept development and validation. First Whitepaper draft.
H2 - 2017
Team creation, LandingPage, prototyping, and community building.
Q1 - 2018
1st Token Sale (Presale).
First projects funded by our Lending Smart Contracts.
Q2 - 2018
Ethic Hub Platform Alpha. Reputation Token (REP) Smart Contracts.
Q3 - 2018
2nd Token Sale (ICO).
Ethix Token delivery starts. 1st Exchange listing Ethix Token
Q4 - 2018
Ethix Token delivery ends. Inverse Interest Rate Auction.
Q1 - 2019
2nd country. Positive Impact Scoring.
Q2 - 2019
1st Local Node Training Center. Guarantee Fund Smart Contracts.
Q3 - 2019
3rd Token Sale. Automated Investment System.
Q4 - 2019
Ethical defaulted debt collection policy. Mobile Apps.
Q1 - 2020
Founders vesting period ends. Loan Secondary Market.
Q2 - 2020
Currency Exchange Insurance. Decentralized Exchange Integration.
Q3 - 2020
10th country. 4th Token Sale.
Q4 - 2020
Decentralized Governance.
CREDITS:
Website: https://ethichub.com
Whitepaper: https://storage.googleapis.com/stateless-landing/documents/EnglishWhitepaper.pdf
Telegram groups: ESP - https://t.me/ethichub ENG - https://t.me/ethichubeng
Facebook: https://www.facebook.com/ethichubcrowdlending
Twitter: https://twitter.com/ethichub
Youtube: https://www.youtube.com/channel/UCxLXFp8x93-ua34yZdHR-lA?view_as=subscriber
Medium: https://medium.com/ethichub
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4