AssetStream will provide a platform or develop the ecosystem that not only serves the lenders and borrowers, but also help the agencies in the field of delivering loans.
AssetStream funds will be financed from the purchasing of AST tokens, with in AST ecosystem, AST show the value of 0.01 USD to promote stability. Outside the AST ecosystem, AST prices will have their own fair market value review on the secondary exchanges.
AST will have their own rating criteria it will be divided into personal loan and business loan.
Criteria for personal loan will include:
▪ Age
▪ Occupation
▪ Salary Base
▪ Credit line
▪ Address
▪ Personal Contact
▪ Current Working Duration
▪ Current Liabilities
▪ At least 3 months bank statements
▪ Notice of Assessment
Criteria for Business loans will include
▪ Type of Business
▪ Registered Capital
▪ Company Financial Status
▪ Collateral Asset
AST will allow the individuals to automate the matching system and they are allowed to ask for a manual credit rating if feel that they received an unjust rating.
Fees incurred from this method will be paid with ASD token. The interested borrower can send a request for a loan to the AssetStream platform.
The loan contracts end when the borrower pays back the original sum borrowed, plus any accrued interest. The lender can exchange the ASD back to his original crypto currency or AST. If a borrower defaults or pays late, the contract will immediately go through the debt recollection process.
Verification
If you want to contribute to the AST platform in order to take the best agendas which is free from anonymous and unfavorable then you have to verified for working with them.
The third party ‘local Agencies’ are assigned to check the needed due diligence documents to comply with local laws and policies, and have to enforce these laws and regulations.
Prevention
AST, with his strategic partner ‘CreditOK’ which specializes in credit scoring, will conduct due diligence for both individual and business types of borrower. ‘Credit Rating’ for Small and Mid-sized Enterprises (SMEs) and ‘Credit Scoring’ for the individual borrower.
Monitoring
In developing countries, like most of Southeast Asia, a major threat to microfinance or P2P lending is monitored and the debt collection process. This P2P connection enables them to monitor easily without the involvement of any intermediate parties, their monitoring which is easily helps to bear enforceable and debt collection is night impossible.
Grace Period
To ensure that borrowers pay on time, this grace period will not be announced or disclosed publicly.
Phase 1: Late Fee
They will be charged with a late fee at 15% per annum on the outstanding sum. . Once the payment with late fees has been paid, the borrower will return to the regular payment scheme.
Phase 2: Negotiation Phase
During this phase, the Local Agency will attempt to negotiate with the borrower for new repayment terms for the loan contract on at least two occasions.
Phase 3: Legal Action
The borrower will be blacklisted from the AssetStream platform. During this time, the late fee will continue to accrue
Phase 4: Non-Performing Loans
The lender’s AST will be unlocked and will be used to purchase the contract from the Local Agency, allowing the Local Agency to liquidate the AST and recuperate its losses.
https://www.google.com/url?q=http://AssetStream.co&sa=D&ust=1561840130964000&usg=AFQjCNGstNEYZe2vYVnf0_01Hl-XwPhKFQ
https://www.assetstream.co/AssetStream-Whitepaper.pdf
https://t.me/AssetStreamBlockchain
https://www.facebook.com/AssetStream/
BTT Address: https://bitcointalk.org/index.php?action=profile;u=2545267
Stellar Address: GAUGKS5ZUMMVBAYOZMHS27H4T6QYMXMTKQFZT2344XPZRWY4TWJ6CIFX