The Blockchain is a continuous sequential chain of blocks containing information built according to certain rules. Frequently copies of the chain of blocks are stored on different computers independently of each other.
Blockchain enables trust to be distributed throughout a network, without the need for a central authority to track, verify and approve the digital exchange of value. It operates as a decentralized distributed database, maintaining a continuously growing list of records divided up into blocks. Legacy will take advantage of this technology to be decentralized and place its trust in its users.
Cryptocurrency is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database. The stability of the database of the chain of transactions is ensured by the use of the cryptographic elements such as a digital signature based on a public key system or sequential hashing.
Roscacoin is a decentralized blockchain platform that is self-regulating as well as autonomous. The Rotating and Saving Credit Association (ROSCA) is a widely spread and very common method of banking in places like Latin America, Philippines, West Africa and the Caribbean. In this method of banking, a group of people comes together to pool resources which they then take turns to borrow. Money continues to circulate as this is done in cycles. It is a very informal method of banking, saving and lending.
ROSCAcoin is bringing this informal method on the blockchain to enable more security of funds and also transparency when it comes to the operations of the scheme. With the tagline "Finance For The Ordinary", ROSCAcoin's target market is very clear; those without access to traditional banking services. That is more than 2 billion people around the world!
The global market size of the ROSCA is estimated at more than $500 Billion annually.
This platform can create a financial solution ecosystem that leverages social capital and trusties to offer better financial options. These include;
• Eliminating higher cost of borrowing
• Diversification Risk
• Easier Financing
• Better Investment
As such, Roscacoin Ecosystem platform is expected to offer various financial solution to users using blockchain technology with smart contract feature.
The platforms outlined below and explained would go through progressive development till the year 2022, when the whole ecosystem is supposed to be completed. Furthermore, the team behind the project are expected to invest in other potential projects. The purpose being, to increase Roscacoin recognition.
ROSCACOIN; IT’S APPLICATION
Cryptocurrencies were created to solve problems through its application, Roscacoin is no different. Roscacoin seeks to provide a solution for people who live in remote areas or countryside that have no access to banking facilities and networking infrastructure.
Basically, Roscacoin was designed to help connect the “disconnected” people. Cryptocurrency effectively solves this problem. More importantly, this platform is interested in building a sustainable partnership that would give the needy access to financial facilities and provide financial solutions to them.
The Roscacoin Ecosystem
Roscacoin ecosystem offers a transparent, free and effective financial solution, which is can be either used for investment purpose or lending purpose. Here is what you need to know about them;
Rosca Lending Service (RLC)
In reference to the whitepaper, this is the first and primary product offered on the platform. Using Rotating and Saving Credit Association (ROSCA) methodology and blockchain’s smart contract, savings, borrowing and other ROSCA processes are automated.
Rosca Credit Score (RCS)
Another product offered on this platform is the Rosca Credit Scors. What does this mean, you ask? It serves the purpose of increasing the trustworthiness among users of Rosca Lending Service. For example, an individual who actively participates in Rosca lending circle and fulfills the terms of contract will have a high credit score.
It offers the advantage of reducing collateral and increasing the limit of investment in Roscacoin Ecosystem platform. Users with a low credit score will get the opposite. That means, high collateral and limited investment in Roscacoin Ecosystem Platform.
Rosca Merchant Program (RMP)
It was created for users of the platform that are into trading. As the name implies, members will be able to buy and sell goods or services using Roscacoin. Read the whitepaper to get a better understanding of how the platform works.
Rosca P2P Platform (RPP)
The third product offered by the Roscacoin ecosystem. It stands for peer-to-peer (P2P), which is a method of debt financing in which users can lend and borrow money without any intermediary. That means, investors can give users loan at an agreed interest rate. Recall that there is a credit score that allows investors access their risks.
Rosca Crowdfunding Platform (RCP)
In reference to the whitepaper, this product was created to help users achieve their dreams and support others too. How exactly does it work? There are two types of crowdfunding; soft and hard crowdfunding. An example of the former is investment pool and the latter offer machines/IoT/Physical asset.
Basically, when a user invests a percentage of stake in the investment pool or machine that generates revenue, such a person also receives a dividend from the investment. This paves way for numerous investment opportunities.
Other products offered by the Roscacoin ecosystem include the Rosca Lucky Draw platform and Rosca Charity Platform.
Token and ICO Details
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.
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
Website: https://roscacoin.io/
Whitepaper: https://roscacoin.io/wp-content/uploads/2018/03/Roscacoin-Whitepaper1-V1.0.pdf
Twitter: https://twitter.com/RoscacoinToken
Facebook: https://www.facebook.com/Roscacoin/
Github: https://github.com/roscacoin/roscacoin
Telegram: https://t.me/roscacoin
ANN Thread: https://bitcointalk.org/index.php
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1398337;sa=summary