An end-to-end blockchain platform for facilitation of tokenised bonds transfers and liquidation. Reditus ICO rating – 76
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PRE ICO Dates : 14/03/19 – 19/03/19
Roadmap: 6/10 Legal: 4/5 ICO terms: 5/5
Team: 19/20 Token applying: 4/5 Promotion: 10/20
About Reditus ICO (token sale)
The Reditus ICO platform is an advanced platform for trading, investing, and collecting receivables. It increases the likelihood of recovering Non-Performing Loans (NPLs) and sunken small receivables which are socially costly. Reditus ICO democratizes receivables through a sustained model of utility token ownership. This is achieved with the Reditus ICO RMS (Receivable Management System), which enables the assessment and collection of receivables, and a trading system through the tokenization of outstanding receivables.
NPLs, which are inevitable to manage the financial soundness of financial institutions, are an investment instrument that can achieve relatively stable returns depending on the efforts to collect receivables and collateral process. However, since certain requirements must be met to acquire NPLs in accordance with the law, individuals are less likely to directly participate in NPL investment. Although asset management companies that can acquire NPLs are launching NPL fund instruments through which individuals can participate in investments, still, not everyone can do so since it also requires a large amount of minimum investment.
On the other hand, for small cash loans made between acquaintances without setting up a repayment schedule or interest, and for credits payments that occur frequently with regular customers, etc., creditors often suffer due to poor performing debtors, who are obligated to pay off the debts but delay payment intentionally or unintentionally.
The everyday investor finds it difficult to engage in relatively attractive NPL investment opportunities and are always exposed to the risk of financial losses due to unexpected delays in the collection process. To remedy this, Reditus ICO aspires to disintermediate the current process and create a more conducive environment for everyday investors to partake in this sphere.
The Reditus ICO platform uses blockchain technology to tokenize receivables, achieving an end-to-end, blockchain-based platform that enables network participants to source, hold, and trade receivables in a secure, easy, inexpensive, transparent, and accessible way. This makes it possible for smaller sized investments and creates the opportunity for mass market participation. The use of Smart Contacts to document small cash loan and credit transactions securely and conveniently will provide a basis for creditors to collect personal loans or account receivables effectively with ease.
The objectives of the Reditus ICO project are as follows:
- The Reditus ICO project provides a blockchain-based platform that manages and disintermediate the current landscape and create a more conducive environment for everyday investors to partake in this sphere.
- The Reditus ICO project offers creditors the opportunity to collect unrecovered receivables by providing them with a new financial transaction platform to facilitate the recovery of difficult-to-recover receivables.
- The Reditus ICO project contributes to promoting credit transactions and minimizing social costs arising from defaults by providing a platform to formalize receivables arising from personal loans, and credit transactions without specific dates and interest rates.
The Reditus ICO project maximizes the transparency by keeping the collection recovered from bad debts in trust with the third party, and so protecting the ownership of the holders of the collected receivables.
The Reditus ICO project team believes widespread use and adoption will occur only if the cryptocurrency complies with all existing regulations. For the collected receivables whose legal ownership is outside the Reditus ICO platform, it is necessary to observe stricter legal regulations to ensure the transparency of the stored receivables through stable storage and external audits. Therefore, the Reditus® team will make sure that no legal problems occur when services and cryptocurrency provided by Reditus® are used in practice by making the following clear:
- The trust account, which holds the collections by Reditus ICO or collectors through receivable recovery, is managed by a third-party trust company outside of Reditus ICO. In principle, the collections held in this account gives the legal ownership to owners who hold RED Token issued along with the receivable collection.
- A third-party trust company in charge of managing this trust account verifies the increase or decrease of the collection withdrawals depending on the inflow or outflow, and this is counter verified by Reditus ICO. This includes the issuance and extinction of RED Token.
- The Reditus ICO team will respond to relevant laws and regulations that exist or will be established in the future by allocating budgets for legal and regulatory review. In addition, all the legal regulations reviewed by the Reditus ICO team will be always disclosed through the Reditus ICO website to enhance the legal transparency of the Reditus ICO project.
- Reditus® reserves held in the trust account, and all the procedures related to the issuance of tokens based on the reserves, will be audited through external expert auditors, and the result will be published daily. This allows Reditus ICO RED Token holders to verify and check the status of payments reserves in real time.