About RupeeCoin

Banking the unbanked

600 Million people don't have access to banks in India

Financing the unbanked & underbanked

2 billion are excluded from financial and banking systems

THE PROBLEM

"India is specifically poised for disruption" Around 500 Million unbanked/underbanked. 

Approximately 52% Smartphone penetration by 2020


Mobile payments

A 9 trillion market. India has the world's highest number of people without access to basic banking services.

India, the largest market poised for Fintech disruption

India is the fastest growing aconomy in the world and will have the largest population by 2020

How it works

Mobile platform

RupeeCoin will function as a mobile app for both Android and IOS so users can consult, make payments, requests loans, exchange currencies and place assets in the palm of their hand. A mobile exclusive platform serves as a more efficient and simple way to move funds using portable devices that are only becoming more popular worldwide, especially in India.

  

The service allows access to real-time transactions for payments locally or internationally using your financial assets held in the mobile wallet associated to a RupeeCoin account. Users will truly their devices into their financial center of operations

The requests for funds, IGL, and P2P loans will also be placed using the simple interface presented in the mobile platform of RupeeCoin making full use of the tools available of the device such as QR code scan, document verification through a camera, among others. 

RupeeCoin Ecosystem

The Ecosystem of the platform will be based upon 2 core elements that will interact with each other ensuring a stable operation. Borrowers will be the core base behind the life of the system. Each user will register in the platform to enjoy the different banking tools available, the usage of these will have small operation costs or “gas” which will be assumed by users once transactions are complete.


Lenders will provide the funds for the more than a million of initial IGL that the platform seeks to allocate. Each lender will receive tokens for the money invested and will passively generate more as the deal is closed in the form of interests assigned under a smart contract that will rule the process, thus creating income with minimum risk.


These lenders can be globally based and will engage their capital directly with borrowers using the blockchain as their safe system, giving them access to this important financial tool.

  

Once assigned, the borrower will have access to the capital as well as the payment conditions he must meet to return this funds. Once the loan has been processed, data will be feed in the system which will analyze it and identify patterns which in turn become the credit risk or credit history of each borrower, granting them access to further finance options if they perform well. 

Financial Services

Fintech companies are growing at a very accelerated pace since the inclusion of blockchain in 2012, therefore banking and financial services are changing as well adapting to the new trends. Rupee Coin seeks to bridge this gap between modern finances and economy making it faster, more secure and overall, easier to access.


Multi Balance:

Banking services for fiat and crypto assets with minimum costs per maintenance, ensuring an all-in-one wallet easily reachable for every user. This will provide freedom and security to pay services and products in India or other countries.


Digital Credit:

The platform will ensure fast loans due to the pre-identity check done by the blockchain system, ensuring a transparent credit record for each user. No need for physical submission of forms nor interviews.


P2P loans:

 We seek to allow borrowers to also become lenders inside the platform once they reach a high enough credit record, this will allow them to enjoy revenue and be an active part of the economy.

Income Generating Loans:

The core asset in RupeeCoin arsenal is the Income Generation Loans (IGL), they will allow small borrowers to increase their capital at minimal risk, generating positive passive income to lenders. These will be applicable by everyone but subject to a background check.


Banking Instruments:

As most of our target users belong to the unbanked bench, RupeeCoin seeks to aid them in providing financial solutions that would allow them the freedom to use their funds locally or globally with online purchases.  

Blockchain Technology

Transparency of Identity

  

In order to allow people access to the system an identity verification system will be implemented. Once passed this does not need to be repeated as the information will be secure under the blockchain protocol, this information will not be modified nor malversed in the future.

Verificable records

  

All transactions, movements, and operations are perfectly traceable to their source of origin at all times as information is secured and encrypted. Users and administrators will be able to closely follow each step of their fund movements in the platform.

Instant data analysis

  

Blockchain data is compatible with automatized and logical AI which will allow data to be analyzed and updated faster than any other financial system. Users will enjoy the benefits for their good financial records instantly. 

Peer-to-Peer Security

  

When borrowers are invited to join as lenders, blockchain will ensure total security for personal transactions between different users of the platform. Again traceability and transparency are key aspects of this relation. 

The Token

 RupeeCoin is what is considered as a Utility Token, this can be defined as a currency with a given value which unlocks access to services and products in the platform that were agreed upon the purchase of these assets. It is important to understand this is not an investment in itself but a pre-purchase of a product or service. RupeeCoin will make use of the tokens as a way to assure that the revenue resulting from the lending process gets to each lender. It will also allow payment of certain services such as the gas, exchanges and similar costs.

  

Another important feature regarding tokens is the protocol over which they are built. This varies according to the objective, ecosystem and overall features that each company decides to provide. RupeeCoin will make use of the ERC-20 Protocol which is commonly accepted by many exchanges making it easy to handle. This protocol also ensures security for financial assets as it has been demonstrated for more than 7 years in a vast number of particular tokens created by many companies.