BACKGROUND:
Since the beginning of the time where the trading were done and the businesses controlled, the people use to take loans from each other in the form of credits due to the fact that there were scarcity of the gemstones. And even now in the banks, there are several old methods that are still followed like the loans and credit cards, etc. Countries started to make their own currency and different values for different currencies were used.
THE PROBLEMS THEY FACE AND THEIR SOLUTIONS:
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Even though we live in a time where the technology and the internet is on peak, there are still a lot of problems that the banks face on accounts of loans. The most important of these issues are:
• All the decision making structures lack clarity and explanation.
• Fairly low understanding of notes and securities.
• The public consumer data which is calculated and resulted by the credit scores are shown only in one dimensional method.
CREDIT SYSTEM:
The GN compass credit system uses the rating from the scale of A+ to B and is used to rate the different kinds of occupations, military operations, volunteer work and social services, and others. A GN credit compass is accessed by the social media and the mobile scores. The people who borrow this credit system for the first time is has the credit score of 660 or above along with the debt-to-income ratio of about 19.99% with the conditions of a six year credit history and a valid, permanent citizenship. These are the conditions which are required by the bank to approve the returning borrower or a loan taker and by looking at their previous records of having a loan and its timely payment. A compass credit score can rise or fall by the late or on-time payment done by the borrower.
ADVANTAGES FOR ALL:
The advantages for the investors are:
• All their loans are protected and backed by the GNCT.
• The evaluation of the borrowers are done in a very scrutinizing manner.
• A specific portion or even a full portion of loans can be sold out without any problem.
• The interest rate gets higher than any old, traditional methods.
• The blockchain technology involved in it helps scrutinize and verify every detail perfectly of the borrowers against scams and fraud.
• There are the latest investment tools that do the job of tracking the investments you made to make sure your goals are achieved.
Advantages for the borrowers:
• Only the credit scores and income isn’t the only thing that will get noticed. Full credit picture profile will be made.
• The credit rates can go higher if the payment is done on time.
• The interest rates are much lower than the usual interest rates.
• The repayment can be done within three months to three years.
• The online loan acquiring methods are much faster and reliable.
• The blockchain technology helps verify every detail anywhere and anytime.
TOKEN SALE:
The total number of tokens will be 1,000,000,000 GNCT, and will have a value of 1 ETH, 0.030 BTC or 5000 GMCT.
20% or 200,000,000 GNCT will be saved up for the pre-scale and the ICO (initial coin exchange) sale.
10% or 100,000,000 GNCT are saved up to pay for bonuses.
60% will be saved up in order to back the investor funds.
10% will be held in reserve.
For more Information please visit the following links:
Website : https://www.gncompass.com/
Whitepaper : https://www.gncompass.com/wp-content/uploads/2018/01/GN-Compass-whitepaper.pdf
Facebook : https://www.facebook.com/gncompass/
Twitter : https://twitter.com/GN_Compass
Telegram : https://t.me/joinchat/HCRV1gzp81kwL3OwkHttJw
Bounty thread: https://bitcointalk.org/index.php?topic=2708667.0
Author: Ahtsham
Bitcointalk username: ahtsham90
Bitcointalk profile link : https://bitcointalk.org/index.php?action=profile;u=1026755;sa=summary
ETH Address: 0x66EF10B68C2e765E9CbF5994D2d8CAd7F9b0E748