ASSETSTREAM — The Global Decentralized P2P Microfinance Platform

jrasinaga (38)in #blockchain • 5 years ago

https://www.assetstream.co/

73% of the 600 million population in Southeast Asia (SEA) is estimated to be unbanked. They are limited in accessing financial services, one of which is microfinance. Microfinance is a financial service that provides financial resources to those who are less fortunate. By distributing small loans and accepting small savings amounts, microfinance is the hope for them to improve their lives to get out of the cycle of poverty. Imagine if more than 400 million people had this opportunity, economic growth in SEA would increase rapidly and the poverty rate would decrease significantly.

AssetStream is a global financial platform based on the blockchain for banking the unbanked and provides an alternative, high-yield, peer-to-peer microfinance for everyone, especially in SEA. AssetStream will bring lenders and borrowers together in an easy way. Only by filling in the desired criteria for the loan, the system will automatically match it with the borrower. Lenders can also choose for borrowers who will get loans, based on their behavior. Good or bad behavior of the borrower will be reflected in their credit rating and badges, thus providing lenders a peace of mind to lend.

Implementation of blockchain on AssetStream will give a lot of benefits. Blockchain will store the credit history of the borrower, so it is not possible for data to be changed or deleted. Blockchain also eliminates intermediaries, transactions occur peer to peer, which will reduce transaction costs. In addition, blockchain also provides transparency, trust, and security between borrowers and lenders throughout the AssetStream ecosystem.

Lender:

The lender provides loans to verified borrowers and many SMEs from different industries. The lender will get 0.75–4% of the investment each month and can be converted directly.

Borrower:

Submit a loan application that is light and safe from danger. Borrower submits a loan application by making a contract, select the interest rate, condition, and duration. Small loan request can be approved instantly.

AssetStream Token

Token symbol: AST

Total token: 3,330,000,000 tokens

1 AST: 0.01 USD

Soft Cap: 1,440,000 USD

Hard Cap: 21,000,000 USD

AST is a utility token created based on the Stellar Blockchain protocol. Besides AST, there is also AssetStream Dollar (ASD) and ASTH. ASD is the main currency on the platform to pay fees on the platform. 1 ASD = 1 USD. While ASTH is an ASD sub-currency and is used for the Thai local market as a loan interest from Thai loans. 1,000 ASTH = 1 THB.