“ICO HERO token”
What is hero?
Hero is the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the launch of its crypto-currency unit called Hero Token, HERO intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.
What is hero token?
HERO is built as an ERC20 token on the Ethereum blockchain and is identified through the ticker symbol Hero.
The token sale is an event in which the crypto-currency project sells part of its tokens to early adopters and enthusiasts in exchange for funding.
The Hero Token enables the community to participate in PawnHero’s success story, rather than limiting it to a small, selected number of traditional venture capital funds. By issuing Hero tokens, tokenholders will benefit from PawnHero’s future success. A token sale is fast, transparent and efficient for exactly this purpose.
Mission and Vision
Hero’s mission is to revolutionize the banking industry to make credit more readily available and affordable for the unbanked or underbanked starting in Southeast Asia.
- Since 2015, we’ve helped thousands of Filipinos access short-term credit and that number is growing fast. As a pioneer in
- Online lending in Southeast Asia, we have become one of the most distinguished Fintech startups to disrupt the highly
- Entrenched, multi-billion dollar lending industry. Through our platform, we are already providing a revolutionary solution to a significant problem among the unbanked and underbated across emerging markets.
Headquartered in Singapore, we operate online with no branch infrastructure, allowing us to keep operating costs low and to stay focused on our customers. We are transforming lending into a frictionless, transparent, and highly efficient digital experience for Southeast Asia.
Our vision is to disrupt the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more inclusive system that allows people access to credit.
Our Current Product
Where We Are Headed
Hero chooses to work with Ethereum which enables the development of custom programmed applications on top of the blockchain, like smart contracts, database access and storage. Ethererum’s Smart Contracts represent the basic pawnshop principle of a smart contract, albeit one that happens manually and offline. Ethereum Blockchain coupled with Machine Learning, Artificial Intelligence and IoT are enabling Hero to revolutionary innovations to transact in both the financial system and in the real economy.
Understanding blockchain technology is not for the average person. We’ve repeatedly seen that the poor need a reason to care about bitcoin as a currency. The underserved customer will not use the bitcoin for its inherent coolness. Bitcoin ends up being a complicated concept that, unless attached to a trusted fiat currency or local mobile money system, has no value. Our core team has lived in emerging markets for many years and understands this challenge very well. We understand that there is an ecosystem in which it is accepted.
Hero uses the bitcoin blockchain as a back-end to transact local currency provide a clear way to ensure that the customer can feel comfortable with the product, while also receiving the cost and technology benefits of the blockchain technology. As we have a network of over 100,000 partners and vendors to provide convenient cash in / cash-out options that mainstream consumer can easily understand and trust.
Banks are very binary – yes or no. They do not have the gray and you may have 9/10 of the requirements, but they are still high risk and Will have zero access to a loan. We want to make sure that the other factors in someone’s life count when it comes to giving them access to credit.
Aside from that loans can take up to 20 days to go through the approval process of a bank, our technology could reduce this to a fraction of the time by using machine learning techniques to build predictive algorithms.
How can the blockchain begin to have real meaning in the lives of the two billion excluded individuals around the world?
Blockchain could be the solution. First, this technology represents a powerful new tool for improving financial inclusion, potentially disrupting many financial institutions and enhancing the performance of banks in the global economy. By disinter-mediating traditional lending institutions and radically simplifying processes, blockchain can finally enable instant, frictionless loans, so that people don’t wait in line for an hour or more, travel great distances, or risk life and limb venturing into dangerous neighborhoods at night just to get a loan.
Second, it will imp Second, it will improve administrative accountability. If micro-loans are recorded to the blockchain and everyone can access them, then they can hold those more accountable for bad behavior. Blockchain as a technology, has the potential to address all these innate intricacies of the lending process. With the inherent concept of open ledger, decentralized platform, smart contracts and integrated central database, blockchain achieves transparency, cost effectiveness, regulatory compliance and risk analysis in the lending process.
By reducing manual reviews, data re-entry and systems reconciliation, the system provides the company with immediate cost savings. Loan data processing can be done exclusively on the distributed ledger reducing risk and increases transparency and responsiveness, the technology itself functions like a regulation.
Blockchain technology creates a whole new set of business models previously unimaginable, like Hero, that empowers individuals and businesses alike.
Value to Investors
Hero are strategically designed to add value to the Hero network :
- Reward bearing tokens – like a interest
- Social impact of helping underserved access affordable credit
- Buy back: The company may use a percentage of profits to repurchase Hero tokens from the open market at the
prevailing market price, therefore the value of the token should be further positively correlated to the success of the
There is no risk of interest default on pawn loans granted by PawnHero. PawnHero withholds the entire interest due over the term of a pawn loan up front by deducting the interest from the proceeds credited to the customer. As an example, a 1,000 Philippine Peso (PHP) loan with a 3 month term and a monthly interest rate of 2.99% would earn 89.7 PHP of interest. PawnHero only releases 910.3 PHP to the customer and thus collects the full 89.7 PHP of interest with no risk of interest default. After the 3 month term of the loan, the customer is required to redeem the loan by paying 1,000 PHP. Depending on the underlying collateral PawnHero offers the customer to renew the loan at which point additional inte renew the loan at which point additional interest is due. Investors receive 20% of the interest collected. So that is the 20% of 89.7 PHP. For the quarterly respectively monthly distribution of interest, the sum of all loans released within the period are used.
To participate in the Hero token sale you can send the following currencies from a wallet you directly control (do not send from
an exchange) to the Hero wallet.
- Ethereum (ETH)
- ETH Classic
- Bitcoin (BTC)
The wallet address will be made available on our website www.herotoken.io before the actual token sale. Hero token will be delivered to the purchaser after the end of the token sale. Transferability will start from the first day of trading, which is planned to start after the token sale ends in September. After this token sale, no additional Hero tokens will be created.
Visit More Information
Website : https://www.herotoken.io/
Whitepaper : https://s3-ap-southeast-1.amazonaws.com/herotoken/Hero+Whitepaper_080817.pdf
Bitcointalk ANN THREAD : https://bitcointalk.org/index.php?topic=2073049
Facebook : https://www.facebook.com/PawnHero.ph
Twitter : https://twitter.com/PawnHeroPH
Slack : https://herotoken.herokuapp.com/
Telegram : https://t.me/herotoken
My Profile Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1398386
My ETH Address : 0x6CfF55c05f51BfC96D4aD899fe8112ea34F82ED8