Introduction!
The whole point of blockchain technology has always been to replace the current system upon which banks now operate. For years, the corruption, inadequacies and uncaring policies created by these banking systems have chased away normal people from investing in normal banking structure.
For those without the strength to go to a normal bank and ask for loans or credit, another way is present for them.
ROSCA Banking?
ROSCA is an acronym which means the ''Rotating and Saving Credit Association'', which is a common system of banking which has been adopted worldwide in places like Africa, Mexico, the latin america etc.
Simply put, it involves a group of individuals, who come together and pool resources, which each individual can then use.... of cause with laid down regulations and all that.
The global market for this sort of banking is estimated at $500 billion per year, and growing.
With such banking system, a problem of accountability, security, and trust arises.
ROSSCAcoin to the rescue
ROSCAcoin is poised to merge the worlds of this sort of informal banking with blockchain technology.
This as a system will fix the problems associated with ROSCA banking. Blockchain technology brings added security, transparency and circumvents the trust issues associated with traditional ROSCA movements.
The tagline that ROSCAcoin has choosen for their project is ''Finance for the Ordinary''
Why ROSCAcoin?
The RoSCAcoin community will be able to interact, as well as get the required loans, credits, finances etc via their mobiles and also through the online web interface, without the need to go to a physical location.
A major reason to invest or take notice of ROSCAcoin is that their interest rate will be very low, when compared to traditional banking methods.
The entire process is fully automated.
With the target set of individuals in mind, services that enable the access to ROSCAcoin benefits will be available/provided to those tthat need it.
Token distribution and allocation
ROSCAcoin is an ERC-20 coin, compatible with the ethereum blockchain by that factor. It has a maximum supply of 10 billion tokens. The symbol for the token is RCA.
A little over 1.5 billion tokens is available for the sale. With token sale begining by april 1st 2018. 1eth will give about 40,000RCA.
Investors can purchase up to a minimum of 0.001eth worth of ROSCAcoin.
The token sales end when the hardcap is reached or when the token sales end reaches.
THe token distribution is given below.
| Use of token | percentage of total supply |
|---|---|
| token for team and employees | 35% |
| Token for sales | 15% |
| Token for community improvement | 10% |
| Reserved for future use | 15% |
| Foundation development | 5% |
| Partnership and expansion | 15% |
| Marketing schemes and distribution | 5% |
The use of the generated funds is below.
| Use of generated funds from token sales | Percentage |
|---|---|
| Use by Team | 45% |
| Creation of Office space | 15% |
| used by Contractors | 15% |
| used for Marketing | 10% |
| funds for Contingency plans | 5% |
| Future projects | 10% |
Website - https://roscacoin.io
Telegram - https://t.me/roscacoin
ANN Thread - https://bitcointalk.org/index.php?topic=3178585.0
Twitter - https://twitter.com/RoscacoinToken
Facebook - https://www.facebook.com/Roscacoin/
Whitepaper - https://roscacoin.io/wp-content/uploads/2018/03/Roscacoin-Whitepaper-V1.0.pdf
authored by destinysaid
BTT profile:https://bitcointalk.org/index.php?action=profile;u=1874680
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