For some people having a Bank account is a luxury thing because they have lack of financial service platform especially in the countryside or remote area. It can be from either lack of infrastructure in there or because the restriction is given from governance. Borrowing money from Bank for some people is also hard because of its difficult registration or high interest. ROSCA wants to solve that problem and give people opportunity to get financial service in an easy way without a lot of difficulties and low in interest.
ROSCA is a platform based on blockchain, it also self-regulating, autonomous, and decentralized. ROSCA stand for Rotating and Saving Credit Association ecosystem platform. It using smart contracts that able to build a financial solution and can give you better financial options by eliminating higher borrowing cost, better investment options, easier financing and many more.
ROSCAcoin is an official token in the platform, all the transaction and activities in the platform must use this token. You can be investing in this platform by buying the token with your fiat currency or you can exchange your Bitcoin and Ethereum to this token.
What ROSCA can provide you?
ROSCA ecosystem offers you 7 main financial services that can be a better solution for you. This 7 service is ROSCA Lending Circle (RLC), ROSCA Credit Score (RCS), ROSCA Merchant Program (RMP), ROSCA P2P Platform (RPP), ROSCA Crowdfunding Platform (RCP), ROSCA Charity Platform (RYP), and ROSCA Lucky Draw Platform (RLD).
If you interested to use this platform to make your financial activity and to get the better service you need to invest the token. you can get it from presale and the main sale offered by the company. If you already have your ROSCAcoin (RCA) you should register on the platform before using its services. The registration process is pretty simple. You just need to fill a registration form including your name, date of birth, residence and mailing address, valid photo identification like passport, driver license, student identification, etc, social media account like Facebook, Linkedin, Twitter, etc, and last is email and cell phone authorization. This information about a member is important for ROSCA to minimize the fraudulent risk
How ROSCAcoin works?
After you registered you can start using ROSCA services. The most popular and become first and main service is ROSCA Lending Circle (RLC). This consist one leader which create a pool on a smart contract platform and invite 11 participants in the circle. The time is 12 months or one year. So everyone input coins and deposit in the circle for the first round. After they all input the tokens they start bidding interest. The highest interest bidder gets the total coin after pay each participant 200 coins. The participant who got the coin in the first round will be freeze member in the circle. After that, they can begin their second round. It continues until 12 times. The last got coin is the leader. The longer you get turn getting coin the higher ROI you got. If you become a leader you also can get some advantages from the platform.
To know what the other service provides, you can click on https://roscacoin.io/ for more information.
Tokens and ICO
ROSCAcoin Platform is built on Ethereum (ERC20) platform standard. The token used in this platform is ROSCAcoin (RCA) and it will accept Bitcoin and Ethereum for exchange.
You can buy the token in ICO token sale. The pre ICO begin in March 2018 and the ICO begin in April 2018. ROSCA lending circle (RLC) will be developed, tested and launched in the rest of 2018 and early 2019. In 2022 the team planned to make all 7 ROSCAcoin service completed and ready to use.
- Profil link