SOFIN (Social Financial Network) — the international fiat P2P-lending online service based on blockchain. This marketplace platform, that brings creditors and borrowers together: Creditor — individuals, banks, microfinance organizations and funds; Borrower — individuals, entrepreneurs, and organizations. The foundation of our platform is the legal purity of the loan agreements. We will check the borrower through credit scoring and the full verification system (ergo contacting the borrower, the employer, etc.) and the request of credit histories from the credit bureaus. Depending on the responses received, each borrower will be given a certain ranking. When registering for the service, each client provides scanned copies of their identification documents (Passport, TIN, IIAN) and passes verification. We will also check the data that was provided to transfer the funds: for example, verify a credit card.
About SOFINSOFIN (Social Financial Network) — P2P-lending online service based on blockchain. This marketplace platform, that brings creditors and borrowers together:
- Creditor — individuals, banks, microfinance organizations and funds
- Borrower — individuals, entrepreneurs, and organizations
- Passport validity of citizenship
- Verifying borrower in the executive productions data bank
- Checking borrower for bankruptcy
- Convictions and trials currently in progress
- Database of terrorists and extremists
- Verifying the credit score of the borrower in the credit ratings bureau–only banks and microfinance organizations have access to credit ratings under the law, our access will be provided through the IFI’s partner
- IP address of the borrower
- Social media networks—there are more than 10 factors per network
- Employer organization for existence at TINPSRNName
- Location of the borrower on cellular data
- Bill payment history, such bills like telephone, utility, etc.
- Verifying contact information of the borrower
Using Tokens in the SystemThe tokens within the system will be used as follows. The creditor (or the pool of creditors within a single loan) and the borrower will the same fiat rate currency. The creditor will be able to exchange one fiat currency to another using our tokens in the system. The entire loan amount is distributed in fiat. If a part of the loan is in cryptocurrency, the system automatically converts the loan to fiat currency of the borrower. The borrower pays a percentage to the system before receiving credit (up to 5% of the amount in SOFIN tokens that will be purchased automatically from the exchanges). This is the main source of income of the service: these funds are used to pay the bonuses and cashback in SOFIN — 1.5% to the borrower and 1.5% to the creditor. When the borrower repays the loan the creditor will have a choice to get the entire income in fiat or take a part of it with tokens. Also a part of the loan amount (1.5% to the creditor and 1.5% to the borrower) will return with tokens as cashback. A part of a loan (up to 20%) can be issued with tokens that the system will automatically buy and transfer to the fiat currency for the borrower. The integration of other cryptocurrencies with the possibility of issuing loans up to 100% will be pursued. Tokens can be used as an intermediate link in exchange of one fiat currency to another to issue loans in the currency of the borrower. Token holders will receive some advantages over ordinary users of the system (external differences in the service interface, more profitable bonus terms, etc.).
Why Do We Need Blockchain?
- Transparency of all transactions performed on the platform – all reporting systems can be verified
- Automated processes through smart contracts
- Convenience in working with cryptocurrencies on Ethereum ERC 20
- Integration with other projects on blockchain (such as registers, credit scoring, statistical services)
- Reliability and fault proof
Benefits of SOFIN Tokens
- A part of the loan (up to 20%) can be issued with the SOFIN tokens that the system will automatically buy at a profitable rate and transfer to fiat for the borrower. The integration of other cryptocurrencies with the possibility of issuing loans up to 100% will be pursued.
- Tokens can be used as a mediator link in exchange of one fiat currency to another to issue loans in the currency of the borrower.
- Large token holders will be identified as trusted members of the system. They will have more profitable loan terms, if necessary. Such holders will receive a bonus — a two-fold fee of the system to make loans for their tokens. The system will provide a guarantee for such borrowers in case of a default, that will cover the loan instantaneously by taking it as a loss out of the company funds. However, in the future the delay of funds will be covered via purchase of mortgage tokens from the borrower. These borrowers will thus have the highest ranking in the system and, as a result, will be able to attract investments on the most profitable terms, as the investor will ask for a minimum low rate of risk at almost zero
- Token holders will receive some advantages over the common users of the system (ergo, external differences in the service interface, more profitable bonus terms, etc.)
- The P2P system will receive the fee, up to 5%, in the SOFIN tokens, which will be automatically purchased from the exchange on each loan. This is the main source of income of the service: these funds are used to pay the bonuses and cashback in SOFIN — 1.5% to the borrower and 1.5% to the creditor. When the borrower repays the loan the creditor will have a choice to get the entire income in fiat or take a part of it with tokens.
Electronic Loan AgreementA loan agreement signed by an equivalent handwritten signature has legal force in the RF, USA, EU and other countries and regions of the world. The EHS is generated by the platform by sending the digital code to the mobile phone of the contract party. All the relationships of the sides on the platform are through the electronic workflow through the preparation of the platform and the signing the relevant documents by the parties:
- Loan agreement
- Extension of a loan
- Issuance and withdrawal of bail
- A surety agreement
- Assignment of a claim under an obligation arising from a contract
- Rates and Bonuses
Token SOFIN Platform Ethereum Type ERC20 Price in ICO 0.4000 USD Tokens for sale 4,000,000
Min. investment 0.1 ETH Accepting BTC, ETH, NEO, NEM, Wex-code Distributed in ICO 90% Soft cap 1,000,000 USD Hard cap 9,500,000 USD Raised $1,302,414
- Andrey Tuchkov
- CEO. Professional financier with 17 years of experience. Led the units of the leading banks, created the Regional Guarantee Fund, president of the Board of Directors of online microfinance organizations. A lot of certificates and awards, including IFC
- Trofim Zhugastrov
- Chief product officer. More than 10 years of experience in creating software products. Founder, CEO of Elonsoft, IIDF tracker, formerly Deputy Director of the Southern IT Park (OJSC "Regional Development Corporation"), founder of IT61-Rostov IT communit
- Nikita Lushpanov
- Chief blockchain officer. Head of research and development department of blockchain. Entrepreneur with experience in offline/online business projects. Experience in developing Web projects for more than six years. Has experience in cryptotrading
- Vitaly Slobodin
- Chief technology officer. Experience in the development of more than eight years, technical Director in Elonsoft, a member of the Google Chrome team, in the past the maintainer of Phantomjs and the developer of "Yandex. Browser".
- Anton Kruchko
- Chief legal officer. A lawyer with a 16-year-old practice. He was the head of the legal department of the largest building concern of the Rostov region. Since 2012, he has been the head of the law firm "VERUM" (verum-law.ru). Provides legal escorts for c
- Konstantin Ivanov
- Founder of TradingView. Ph.D in Math and Economics
- Dr. Rupal Agarwal
- Founder & CSO Obizcoin, Entrepreneur, Strategies Implementation Expert, Retail Management Consultant, Blockchain & AI Enthusiast, ICO Consultant
- Alexey Telnov
- Partner at VC arm of one of the largest family offices in Eastern Europe. Helds M.A. in Finance and Law.
- Anton Dzyatkovskiy
- Co-founder, Chief Investment Officer of of Micromoney. Successful entrepreneur, experienced negotiator, creative marketing expert. Mr. Dzyatkovsky is experienced in development of financial companies in entirely new markets.
- Giovanni Lesna Maranetto
- Business Strategy. Chief Commercial Officer at Hedge/Blocktrade.com , Advisor / Blockchain Strategist