Finance is the utmost vital part for any business. Many organizations lend money and funds from various banks to run their business. Many business work with blockchain technologies to develop their software, curation process, security system, advertisement and others jobs these days. So blockchain technology also make the availability of funds on the blockchain technology to provide loans in the form of cryptocurrency for the business via GN compass blockchain. It provides handsome return on the investment with value added security on those funds as well.
First of all the investors sell investment in portfolio where they have mentioned their interest rate (which range from 3.99-11.99%), plans and goals along with their banking information. Burrowers lend the fund for any reason but after verification and then after specific period the investors get profit from the burrowers. Similarly burrowers also make a profile page with their Facebook profile as well. One can get a fund of $1000 to $50,000. But before receiving fund burrower have to fill a complete requirements in smart contract, risk assessment and must have to pay balance protection for security purpose. GN compass also provide microloans in future to those burrowers who have high percentage of risk. The microloans ranges from 150-1000$ with higher interest rate of 13.99-16.99%.
Now at the time backing loans they are received in the form of GN compass token known as GNCT. These tokens are deducted from the burrower’s account and exchanged in the legal currency (such as USD) and send to the investor’s account. Investor have the option either to reinvest that money or to transfer it to his own private bank account. The GN token is ERC-20.
The advantages of investing via GN compass is that the money is retrieved back in the form of cryptocurrency. The burrower’s have to validate extensively before receiving funds. The portfolio can also be sold if in case one wants to leave. Verification of all the transactions using smart contract. It provides flexible repayment criteria.
A proportion of revenue generated over backing the investment is also allocated for the GN compass blockchain are utilized for business development, marketing of blockchain, generating the legal considerations for the ecosystem, accounting and administration. A small proportion of revenue is also saved for the contingency and unplanned chaos. This revenue is generated by getting the 1.5% transaction fees from the investors. And those who lend the money are charged from 0.50 to 4.99 percent.
The total number of tokens allocated for the sale are 1000,000,000. The price of 5000 GNCT is equivalent to 0.030 BTC and price of 1 GNCT is USD $0.14. The first and second round presale of GNCT token was during 29 January – 11 February at price up to USD $0.20. The 3rd pre sale round will be till date February 28, 2018 at bit higher price of USD $0.25 per token. Moreover, the crowd sale will start from 1st March and will last for 10 days at the price of 0.30$/ token.
GN compass planned to raise the funds, enhance campaign, and recruit more human resource, members. And also to release android and iOS mobile phones applications by the year 2018. For further insight about the project please visit whitepaper.
Author : https://bitcointalk.org/index.php?action=profile;u=1397196