A REVIEW OF UMA CHIT FUND
We are experiencing a time of financial revolution. With the introduction of technologies like Blockchain, Fintech is making its way towards disrupting the old style of banking. There are many things to look forward to in this new cryptocurrency world. This blog will teach you about Uma, a company that wants to make the chit fund business completely transparent.
There are several methods of lending money to people. Banks, **** shops, money lenders, credit card companies, online peer to peer lending sites. These are traditional options available today. But there is one industry that looks to disrupt all of them.
The entire financial corporate system in India is based on the UMA, which is the Unit of Measurement Agreed to for fund transfer in India. This is what has been in existence in India since ages. If you want to do any kind of financial transaction, the UMA is what you need to fulfill. But when you go global, there are no standards that can be agreed upon. And to top that, there are no proper legal bindings that can help you with your transactions. That is why today we are seeing many players in the fintech industry coming up with their own version of the system.
USAGES OF UMA CHIT FUND FINTECH
Uma is a crypto-economy powered by smart contracts on the Ethereum blockchain. The platform enables peer-to-peer lending and borrowing that use ERC 20 tokens as collateral. Uma is a global distributed platform built on blockchain technology. The platform aims to provide an alternative form of financing for small businesses and individuals in emerging markets around the world.
Uma is a suite of financial services providing access to credit and capital for underbanked and unbanked individuals and businesses. With its platform, Uma aims to provide a full range of financial services to everyone in the world at low costs through leveraging blockchain technology and lowering the frictions in business processes associated with traditional banking systems.
Uma is a decentralised, transparent and democratised chit fund platform built on Ethereum. Uma allows investors to create and manage their own micro-chits. Chits are like mini mutual funds with minimal investment amounts as low as Rs.10. The aim of this platform is to make investing in financial assets easier for all classes of people, especially the unbanked population who are deprived of basic banking services.
MISSION OF UMA CHIT FUND
Our goal is to make financial services available to everyone. To get there, we are building a decentralised fintech ecosystem, where the users will be able to invest in chit funds and earn interest on their investments. We aim to solve the problem of poor financial inclusion by offering an alternative that delivers high returns while being completely transparent about the process of investing in these chits.
Uma is the first chit fund decentralized fintech ecosystem to provide basic banking services as well as financial support services such as credit, savings and insurance based on blockchain technology.
CONCLUSION
We hope you enjoyed our article about Uma. With this knowledge, we know that you can make the most of this innovative Uma platform when it is fully available in the near future. So what are you waiting for? Visit the link below to learn more about Uma and how it can help you.
For more information visit:
https://www.facebook.com/umachitfund
https://www.instagram.com/umachitfund
https://www.twitter.com/umachitfund
https://www.reddit.com/user/UmaChitFund
https://t.me/umachitfund
https://steemit.com/@umachitfund
Writer Details:
Bitcointalk Username: Obigidon
Bitcointalk Forum URL: https://bitcointalk.org/index.php?action=profile;u=2968567
Prove of Registration: https://bitcointalk.org/index.php?topic=5367109.msg58455649#msg58455649
BSC Wallet Address: 0x69c3d2A2f0FFf667AAC64b8b63104789d01E7f17