Introduction

In unfavorable economic conditions, many financial institution services suffer losses due to lack of innovation in investment techniques. Uma Chit Fund India's non-bank financial institution implements a safe investment instrument. Companies that have been in the investment industry for a long time combine investment techniques with blockchain technology. The Chit Fund provides support to all industries, including small industries. Uma Chit Fund has a very good concept, which is to pay more attention to retail to be more developed. Retail investors will be stronger against economic anomalies. With blockchain technology, all transactions or investor deposits will be recorded properly.

How It Is Working

The Uma Chit Funds is using this revolutionary technology to create a modern financial institution. It has been a part of the Indian financial system for more than a century, but the benefits of using blockchain technology have only recently been realized.Blockchain technology aims to provide a more secure and reliable p2p cloud storage platform. Because the system is decentralized, the project is a good candidate for the SEC regulation. The SEC rules for ICOs are the best in the world, and the project has a real world application and an incredible solution to a huge problem. This is why the Uma Chit is backed by the widely trending blockchain technology.The thing that makes Uma Chit Funds stand out from the other chit fund projects in the market is the fact that the platform is backed by the highly trending blockchain technology along with enabled smart contracts. By engaging our platform with blockchain technology, we would be able to serve the chit holders with unmatched transparency, scalability and some additional member benefits (which will be made available at the maturity of every successful chit term period).

Important Things To Know

Smart contracts are lines of code that are stored on a blockchain and automatically execute when predetermined terms and conditions are met. The benefits of smart contracts are most apparent in business collaborations, in which they are typically used to enforce some type of agreement so that all participants can be certain of the outcome without an intermediary’s involvement. So, this will ensure full transparency and assure the users/members that our end of the deal will be met without an intermediary’s involvement. All the records and history will be digitally stored and linked together on the distributed ledger (blockchain). Each record is also encrypted to provide an extra layer of security. Blockchain is said to be “immutable” because the records cannot be changed and transparent because all participants to a trade have access to the same version of the truth. The members of the chit round would also hold extra benefits of borrowing a loan for minimum interest percentage based with flexible terms only with our utility token (UCF) as a valid collateral.

About Utility Token

Our utility token would be the whole and sole mean for the payment regulatory system on board, but we would also allow the chit holders to withdraw their benefits in stable coins like USDT. We would add a variety of coins for the sake of the chit holders to maximize their profits with minimal or no risk. All you would need to do is stake the utility token/crypto assets or fiat currencies in the chit rounds and enjoy benefits at the end of the chit round. There would be one round winner in each chit round, and he/she can opt to in-cash the savings in one click.

MORE INFORMATION :

• WebSite URL: https://umachit.fund/
• WhitePaper URL: https://umachit.fund/wp-content/uploads/2021/09/Whitepaper-v1.pdf
• Reddit URL: https://www.reddit.com/user/UmaChitFund
• Steemit URL: https://steemit.com/@umachitfund
• Instagram URL: https://www.instagram.com/umachitfund
• Facebook Page URL: https://www.facebook.com/umachitfund
• Twitter URL: https://www.twitter.com/umachitfund
• TeleGram URL: https://t.me/umachitfund

#ethereum #startup #blockchain #chitfunds #umachitfund

Author

BitCoinTalk User: bibie16
TeleGram User: @bibiee16
BitCoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1816840
Authentication Proof:
https://bitcointalk.org/index.php?topic=5367109.msg58954792#msg58954792
Ethereum Address: 0x789f7b5bdA6B35843b71e8501d347D882074352F