The banking industry has undergone many major changes in the last few years. The industry is becoming more competitive because of regulatory deregulation. Currently, banks have flexibility in the services they offer, the locations they operate, and the rates they pay for depositors’ deposits. Now comes a new breakthrough about the decentralized Bank by the Hero Token Smartcontract that will eventually operate in Southeast Asia.
What is a Hero?
Hero is the newest and the first banking from Southeast Asia that is decentralized using blockchain technology. Hero is here to revolutionize the banking industry to make credit more accessible and affordable by unbanked or underbanked, starting in Southeast Asia. Unbanked is people who have money but do not keep their money in the bank, underbanked is the opposite.
Hero operates entirely online with its headquarter in Singapore without having a branch company which allows it to keep operating costs low and to stay focused on customers. Hero also turned the loan into a highly efficient, transparent and no-friction digital experience for the region in Southeast Asia.
Hero has a vision to change the current financial system which ostracizes as many as 2 billion people from the banking system but the problem can be overcome by using technology to create a more inclusive system which will allow people to access credit more easily.
How Hero Works?
On or before the due date of the loan, the customer may, through various payment options, make the loan repayment payment
or apply for loan extension. If the customer fails to redeem or update before the due date, then the loan is entered legally. Note the period between 1 month for electronic goods and up to 3 months for non-depreciable goods. Upon completion of notification if the customer does not make any repayments and additional interest payments are required, then Opus resolves legally.
Public notice and auction process are required and then make the item available for sale in our market. PawnHero offers several payment options for loan repayment (Pay Out) and loan repayment and / or loan extension (Pay In). Major payment partners include Paynamics, which offering some over the counter transactions at national banks, and Pay In and Pay.
Using Coins, subscribers have access to mobile wallets and services such as remittances on billing payments, and online shopping at over 100,000 merchants receiving digital currencies. Other options including without PawnHero ATM withdrawal card continue to add Pay Out and Pay In options with companies in banking, Money Transfer, e-wallet, digital money, and retail location processing business.
This document provides a comprehensive overview of Hero, its applications and benefits, the team involved in the project, the upcoming Hero fundraising referred to as ICO or & corporate crowdsale and the goals Hero is expected to achieve.
Token / Token Sale sales is an event in which a new project from cryptocurrency will sell a portion of its cryptocurrency token to the early adopters and enthusiasts in return. For those who offer tokens for sale, this has become a well-documented and respected way of raising funds to improve existing products and services.
The sale made by the Distributor of the Hero Token which relates to a Token Sale Hero Token Sale itself to you as a buyer thereof shall remain subject to the applicable terms and conditions – which are contained in a separate document specifying the terms and conditions of agreement between the distributor and you which is related to the Hero Token Sale. Distributors are the involved members of PawnHero and they will disseminate all proceeds of Hero Token sales which relate to Hero Token Sale to be used as project funding as well as the Hero’s cryptocurrency business.
Hero Token Details
1. 80% of the total number of Hero Tokens for sale publicly in Hero Token Sale under symbol ticker Hero.
2. 15% of the total number of remaining Hero Tokens will be allocated to the founders as long-term interest alignment
3. 3% of the total number of available Hero Tokens will be provided to early believers and advisers.
4. 2% of the total number of available Hero Tokens will be used for Bounty.
5. Hero Tokens will be sold at a ratio of 1/200 ETH, which means 1 ETH worth 200 Hero Tokens.
– A bonus 30% bonus will be offered for those who bought on the first day for the first three hours.
– Bonus 20% bonus will be offered for those who bought on the first day for three hours and above.
– Bonus 10% bonus will be offered for those who bought on day two and third.
– Bonus 5% bonus will be offered for those who buy on the fourth day to the seventh day.
– Bonus 2.5% bonus will be offered for those who buy on the day to eight to two weeks.
– Purchases of more than two weeks will not earn a single bonus.