Getting to Know ROSCAcoin, a Finance Platform for the Ordinary

Finance service provider is a common thing in our daily life. They give people finance services like saving, loan, debt and insurance. These services can be given by Bank or other institution. All country has these, either developed and the developing country. The problem is usually in developing country not everyone can enjoy this luxury. People in developing country still lack financial service platform especially in the countryside or remote area it can be from either lack of infrastructure or because of restriction from governance. ROSCAcoin is about to solve that problem and help people to enjoy financial service even they don’t have access to any formal financial service provider.

What is ROSCAcoin and what is it offer to you?

ROSCA stand for Rotating and Saving Credit Associations. ROSCA’s platform can be categorized as a group of individuals who agree to meet together for save and borrow purpose with a defined period and it is a form of combined peer-to-peer banking (P2P) and peer-to-peer lending (P2P). Many calls it ‘the poor man’s bank’, where money change rapidly and it’s not idle for a long time, it can satisfy both consumption and production needs. This kind of system is actually already familiar in many developing countries and goes by different names like cundinas (Mexico), Palawugang (Philippines), tandas (Latin America), Partnerhand (West Indies), pandeiros (Brazil), Ayuuto (Somalia), Susu (West Africa and the Caribbean), Gam’eya (Middle East), juntas or Gquiniela (Peru), Arisan (Indonesia), and many more.

ROSCA is not only a place to save and borrow money, it has a lot of services that can give us many advantages. There are total 7 services that ROSCA provide. Those services are ROSCA Lending Circle (RLC), ROSCA Credit Score (RCS), ROSCA Merchant Program (RMP), ROSCA P2P Platform (RPP), ROSCA Crowdfunding Platform (RCP), ROSCA Charity Platform (RYP), ROSCA Lucky Draw Platform (RLD).

Why is ROSCAcoin can benefit us?

ROSCA is a self-regulating, autonomous and decentralized blockchain platform. With the blockchain technology which encompasses smart contract features, ROSCA able to build a financial solution ecosystem with better function so it can give more advantages to the member of the platform. By using ROSCAcoin you can get lower interest rate than a conventional commercial bank, and the interest rate also shared and spread among participants. Member which join/participate in a lending circle community can own the circle and managed it themselves.

Because ROSCA is based on blockchain and using cryptocurrency as its standard currency so its lack of bureaucracy, less fraud, lower default rates, and have a non-profit motive for the platform. In the lending circle someone able to earn interest for those who choose to collect the payout at later stage especially last stage for a leader. So if we play it nicely and tactfully, then we can get a lot of advantages and benefit from this platform.

ROSCAcoin roadmap and ICO

ROSCA is already planned back in 2017. The team already has done the market research, business plan, marketing plan, and make a whitepaper documentation. In March 2018 the Pre ICO begins and the ICO is planning to launch in April. In the rest of 2018 and early 2019 team will developing, testing and launching ROSCA lending circle (RLC). In 2020 until 2022 the team was planned for all 7 ROSCAcoin service will be completed and all ready to use.

ROSCA has its own currency called RCA (ROSCAcoin). This currency is used in all activity on the platform. There’s only 1.000.000.000 total token available and will be released for sale is just 3.000.000.000. token standard using Ethereum (ERC20). You can exchange your currency for this token only with Bitcoin and Ethereum.

If you interested in investing in this platform please click https://roscacoin.io/ for more info regarding this.

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Author:

bitterdog
ETH: 0x939e987B687d1E21d175340C02373bdDCEe31Bc7