FintruX is a blockchain project that provides a P2P network for marketplace lending







FintruX platform connects borrowers, lenders, and servicing agents, which allows them to construct each borrower contract in real-time.

Traditional local banks and credit unions offer unsecured loans. However, it is notably difficult to get an unsecured business loan through traditional lenders. It can take months to apply and get approved. Generally, banks focus their operations in determined geographic locations, which makes it difficult for people in different areas to connect for purposes of credit transactions.

Alternatively, peer-to-peer platform lenders use other investors to fund their loans. This means that the money for business loan might be originating from dozens, or even hundreds of individual investors all over the world. However the current P2P platforms are not true P2P because they are using intermediates such as trust accounts and others. Thats why FintruX using power of the Ethereum Blockchain.

Using the Fintrux system, the investor will be able to be insured in case he is not paid. The company plans to use smart contracts for each contract made in the platform. The company holds back 10% of every money lent as a collateral. If one person does not pay the lender, he will be insured by the company. This might look bad for some borrowers which will only receive 90% of the money, but they will pay lower interest rates because the risks are basically eliminated using the platform this way.

There will be also an instant matching service to help people find their matches and lend or borrow money with even more ease than they normally would.

FintruX competitive advantages:

Open ecosystem. FintruX Network partners with rated agencies such as identity, KYC/AML, credit scoring, credit model, and payments to provide lenders a wide variety of choices to adjudicate their loans.

Decentralized Reputation Ratings. Borrowers can now rate their lenders and have a reliable source of comparability between different lenders. The same for lenders who can now rate and write reviews on their borrowers and agencie.

Many systems as a platform architecture. Instead of one huge program to process millions of borrower contracts, FintruX platform is comprised of millions small smart contracts, fully-customized and simplified for each borrower contract.

No-code development and instant deployment. FintruX smart contracts will not be hand-written. Transitioning Robocoder's low-code development platform into no-code development enables all possible contract combinations to be presented as user interface to borrowers and lenders.

Unprecedented risk-reduction on unsecured loans. FintruX's cascading credit enhancements provides unprecedented risk reduction for unsecured loans making it easy to borrow at a reasonable interest rate.

The ERC20 FTX Token is used to power the FintruX Network and works as a means to reward or get rewarded for participation in the marketplace. Each activity on the platform has an associated cost specified in FTX.

FTX Tokens serve several key functions in FintruX Network ecosystem:

Transaction execution reward;

Token collateralization reserve;

Rewards for good behavior;

Punishment for bad behavior;

Reward for providing information;

Platform access;

API license.

FintruX already has a wire frame available for both borrowers and lenders. You can use the “Add Funding” or “Get a Quote” options on the wire frames and see how the process works

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