In spite of the vast penetration of internet and modern technology, there are major issues with the modern day loan industry. They range from having a centralized structure that lacks transparency or there is a low liquidity rate for notes and securities. Sometimes there are a one- dimensional credit scores for public consumed data.
GN Compass is a lending platform where investors and borrowers exchange value. With their Cryptocurrency-Backed loans , GN Compass offers investors good returns on investment plus added security on all funds invested. They create constant liquidity of funds which in turn helps investors to liquidate their loans that are in their portfolio. After the revolution of bitcoin protocol in 2008, many cryptocurrency protocols have emerged such as Etherum and Zcash.
Their advantages
The ecosystem is divided into two parts- one for the investor and the other for the borrower.
The investors simply have a simple sigh up process where they signup and input details regarding their preferred investment goal which could be retirement planning or preferred repayment cycle. This will help them set the loan details such as how much they are willing to invest and the expected interest rate. The last step consists of adding their banking information where they will be assigned their secure digital wallet.
For the borrowers, they have to input their basic login credentials such as username, password or just sign up using their Facebook account. Post this, risk assessment will be done and they will be given their risk rating. The application will be accepted or rejected based on the risk rating of the borrower.
Token sale and bonus
The token is denoted by the symbol GNCT which is built using the Ethereum technology. The
Total Token sale Supply is fixed at 100,000 where the Price of 1 GNCT = USD$0.14. There are totally three rounds of token sale which goes as follows.
First Round: January 29 To February 04. Price 1 GNCT = USD $0.14
Second Round: February 05 To February 11: Price 1 GNCT = USD $0.20
Third Round: February 12 To February 28: Price 1 GNCT = USD $0.25
During the token allocation, the Total ERC20 tokens created will be 1,000,000,000 GNCT, where 20% Or 200,000,000 GNCT Will Be Reserved For Pre-Sale And ICO,10% Or 100,000,000 GNCT Will Be Reserved To Pay Out Bonuses and 60% to back Investor Funds and 10% Will Be Held In Reserve.
The purchase of the token has a number of advantages such as bonus token availability early buyers. The token buyers are protected by Anti-Scam Systems which has high security and transparency. Investors Can Buy and Sell the Tokens Backing Loans Only In GNCT.
Summary
GN compass is the first company that has weaved in the technology of investment analytic and comprehensive credit rating system backed by GNCT. They have implemented a high security platform with the help of Ethereum blockchain where all transactions will be verified and logged in the system. They seem to be creating a breakthrough in the liquidity for loans and are on a path to expand and take the company to much bigger heights.
For More Details Visit:
Website: https://www.gncompass.com/
Whitepaper: https://www.gncompass.com/wp-content/uploads/2018/01/GN-Compass-whitepaper.pdf
By: karanj
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1030341