Maret 24, 2018

ROSCA COIN - Finance For The Ordinary

ROSCAcoin (RCA) — it’s cryptocurrency, supported by self-governing, autonomous, decentralized, based on rotating blockchain platform and Savings Credits Association (Rosca). With blockchain technology, which includes smart function contracts, ROSCAcoin can create ecosystem financial solutions that use proxies social capital for cooperation with the best financial options by eliminating higher costs, facilitating financing, increasing investment opportunities and risk iversifikatsii.

ROSA is a mutual lending platform that allows the user to both save and borrow funds, depending on the situation. A ROSCA acts as a simultaneous peer-to-peer banking and peer-to-peer lending service, and is most commonly used in developing countries where financial exclusion is prevalent.

MISSION ROSCA

Build ongoing partnerships with wealthy and business people who will invest to provide financial solutions and seek access to financial opportunities for those in need.
Create a decentralized financial solutions system using blockchain technology.
Create a transparent platform for each involved party to enable users with the power to monitor and manage their financial solutions without third party involvement.
Create a crypto community where rich and commercial companies connect directly with their stakeholders

ROSCAcoin Ecosytem platform will offer multiple financial solutions to our user, as below:

ROSCA Lending Circle (RLC)
ROSCA Credit Score (RCS)
ROSCA Merchant Program (RMP)
ROSCA P2P Platform (RPP)
ROSCA Crowdfunding Platform (RCP)
ROSCA Charity Platform (RYP)
ROSCA Lucky Draw Platform (RLD)

Each platform will be developed progressively, and the whole ecosystem is projected to complete in year 2022. Besides that, we will also invest in some potential projects which able to boost our ROSCAcoin recognition. ROSCAcoin Ecosystem Platform is built on Ethereum platform which compatible with ERC20 standard.

It will accept Bitcoin and Ethereum coin in exchange for ROSCAcoin. This will stimulate the demand for the before mentioned crytocurrencies and hence further improved their value to the cryto-community. ROSCAcoin (RCA) will be used in all ROSCAcoin Ecosyst

em platform as this will ease the process and encourage stateless business to which everyone across the world can intersect globally.

TECHNICAL CHARACTERISTICS

Token name: RCA (ROSCAcoin)

Standard: Ethereum ERC20 Standard Token

Number of tokens: 10,000,000,000 (10 billion) that can not be reissued

Number of tokens sold: 3,000,000,000 (3 billion)

Method of exchange / payment: ETH and BTC

Holding -ICO: March 2018

Use allocated funds team

45% of funds received from RCA tokens will be distributed according to salary and team benefits, as they believe that team members are a key asset in the ROSCAcoin organization.

15% will be allocated for office and overhead expenses, such as office rent, utilities, furniture and supplies.

15% will be allocated to contractors, including legal counsel, remuneration for outsourcing services.

10% is financing marketing activities, and these costs include business development and digital marketing.

10% for other projects, such as sales for sales agents ROSCAcoin, kiosks and building infrastructure for remote areas.

5% of the funds set up reserves for unforeseen circumstances.

The WeTrust team have collected $4,662,000 USD, in the ICO and the developers are keeping 10% as a founders reward. This amount locked for two years, which incentives the founders to complete the project. The pre-mine or founders reward is advantageous compared to other recent ICOs.

The first application of WeTrust will be a ROSCA. This system will allow a group of people to save money more consistently. Initally the group will agree to pay an amount of money in a pool at a pre-established interval. At each interval the person who pays less than the agreed amount will get the pool. The reasoning is that the person has the most need for money, needs the pot most.

WeTrust will create other projects such as Credit Identities, Loan Portal and Mutual Insurance, however these projects are not on the Roadmap at this time. Will their creation depend on the success of rosca

At frist, the ROSCA app will work using the WeTrust token, the platform plans to bring in stable coins such as Tether. This will help the savers ensure that the fiat equivalent they put in can also be paid out. This is challenging. Tether https://coinmarketcap.com/assets/tether/ is a stable USD coin, which should mimic the price of USD. It has had fluctuations in the past. Bitcoin itself is being priced differently on exchanges who allow access to USD and to others who do not. Without price stability ROSCA users will be saving their money but also gambling their savings on the stability of the so-called stable coins.

Given the global nature of WeTrust, it will also face regularity challenges in the various countries the application will be used. In some countries a money transfer license could be needed.

ROADMAP