Az Fundchain FundChain is a decentralized, transparent and reliable money circle and crowdfunding application running on the blockchain.

talhayakeen (20)in #bitcoin • 6 years ago (edited)

FundChain Platform

FundChain Platform presented with a handy mobile application that is to advance and maintain platform functionalities while improving users processes and increase the level of accessibility. Services/features provided by FundChain will be perfectly applicable and gradually updated via a mobile application which, for the means of development, is driven by the critics of the users for the perfect adaptation.

The application requires an ID verification to minimize the fraudulent risk like the fake profiles for which FundChain will implement Know Your Customer (KYC) processes. Verified profiles will have platform ratings as for their reputations and social ID carts still to sustain a transparent environment. Users are allowed to send private messages to each other as well before they attend a money crcle or organize one. Through the implementation of each of the above, reassurng once again that FundChain application is mostly self-regulated and keeps the characteristic to stay peer-to-peer.

Once being verified, participants have the option to contribute and make an investment to a pool or organize a money circle that is either public or private depending on the needs and preferences. FundChain application offers a secure way of depositing and withdrawal mainly in three payment methods being via Ethereum, USDC or ERC20 tokens added later on. Participants are free to keep their money in their account as to use it again and their balance can be easily displayed in their profile in terms of USDC. Apart from their balance, profile reputations can also be observed which acts like credit scores and remarkably driven by two causes: users' performance to fulfill their previous contracts and their KYC process being verified. High reputation scores allow users to organize lucrative money circles by constructing a rich background.

Money Circles (ROSCA)

What are money circles and why are they important?

A rotating savings and credit association (ROSCA) is a group of individuals who agree to meet for a defined period in order to save and borrow together, a form of combined peer-to-peer banking and peer-to-peer lending.

Reasons why money circles exist :

During each period or month decided by the organizer, every member contributes the same amount to the circle. One member takes the whole sum, only once. This allows each member to have access to a large sum of money. The participant can use the money for whatever purpose they desire. One of the reasons people are choosing this method over saving money at home is because of the risk of family members or friends asking for the money. There are also security reasons involved with carrying and hiding cash.

-No access to banking systems.
-Not trusting the banking system.
-Interest-free borrowing and saving need depending on personal beliefs.
-Low credibility.
-In need of a quicker, bureaucracy-free loan.
-Saving money periodically.
-Tax and regulations avoidance.

ROSCA funding also known as money circles are growing every day. FundChain is built to solve the problems in traditional crowdfunding and money circles. FundChain is built on blockchain and runs completely decentralized. Decentralization will eliminate the trust and absurdly high operating fee issues faced by ROSCA funding participants. The native AZ token will be the fuel of smart contracts that are being created within the platform.

ROADMAP

2017 : AZ Internet formed.

2018 Q1 : FundChain idea started to take shape. Product base development begins. The company incorporated in the British Virgin Islands

2018 Q2 : Pre-alpha product is ready. First seed investment. The team is expanding.

2018 Q3 : Alpha goes through bug tests. The new product website is ready.

2018 Q4 : Private beta release scheduled on December. Cooperation with an external marketing agency. Whitepaper and token sale website will launch.

January 2019 : Whitepaper publishing in the first week of January. Full marketing campaign starts.

February 2019 : Closed beta MVP release of the application using Ethereum.
KYC and registration to token sale begin.

March 2019 : Token sale begins alongside marketing.

April 2019 : Token sale ends. The application is usable with Ethereum.

2019 Q4 : Fiat is integrated within the application

AZ Fundchain Token info

Ticker:AZ
Platform : Ethereum
Token Type : ERC20
Available for sale : 11,700,000 AZ (39%)
ICO Price : 1 AZ = 0.63 USD
Accepting : ETH
Soft cap : 5,000,000 USD
Hard cap : 7,000,000 USD
Country : British Virgin Islands