JFinCoin - CryptoCurrency in Thailand - Analysis

Introduction

1. JFincoin is the a cryptocurrency released in Thailand by one of the top public limited companies in the country
2. Its main focus is on decentralization of Lending process and therefore DDLP (Decentralized Digital Platform Lending) is their objective
3. JFincoin utility token is what they will be using to transact in on this platform
4. There was a presale of Jfincoins that started on the 14-Feb-2018, which was supposed to last till the 28-Feb-2018, but the coins were sold out already by 4 PM on16-Feb-2018.
5. There were a total of 100 Million JFincoin Tokens that were released for the pre-sale

Market Research

Some of the factors that make Jfincoin tokens an interesting investment option are:

• It is the only cryptocurrency in Thailand now despite the recent ban on cryptocurrency related transactions by the public bank of Thailand.
• Thailand’s economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product (GDP) as per Wikipedia which requires a significant amount of cash credits and working capital loans to execute big orders by companies.
• By tapping into the Lending process, I think this cryptocurrency has tapped into two major sides of the economy of which exports is one and the other being Loan Sharking which is also a major contributor in the Thailand’s shadow economy (Source: Wikipedia)
• JFincoin is backed by some of the major industrial leaders like Jaymart and Singer, and also by some leading financial companies as per their list on the website.

Value to Consumer - Based on Technology & Architecture

1. As per their whitepaper and the platform’s architecture overview given on their website, strong emphasis has been placed on evaluation of lender and borrower.
2. Typically in lending business evaluating the borrower and lender are crucial to avoid bad debts and fraudsters. I think this is great advantage that brings a lot of credibility for existing traders to migrate to this platform.
3. By the use of smart contracts, timely repayment schedule can be accomplished that makes this model promising for lenders that helps avoid collection hassles.

The Future

The major phases or milestones as per their roadmap are

1. Credit Scoring
2. Blockchain Network and Smart Contracts
3. E-Wallet and Crypto Wallet
4. Peer-to-Peer Lending System
5. Big Data Analysis and Machine Learning

Technically the platform should be available by Q4 2019, ready for implementation and testing

It makes more sense to have phases 2,3,4 ready in 2018 and add 1 and 5 later in 2019. That way the product is out in the market, balancing the expectations of consumers and investors.

Final Remarks

Based on an overall review and study of the documentation, this project seems to be impressive especially because of the nature of economic problem it is aiming to solve.

Also the promoting companies have a solid foundation in Thailand for quite a few years making this a credible cryptocurrency to bank on before 2020.