Re: [ANN][Pre-TGE]🌐👥🌌Crypt-ON - Multipurpose blockchain platform🌌👥🌐
Good afternoon, you correctly said that we are still at the stage of preparing our product. We updated our WP, we indicated in the third paragraph that "in order to resolve the contradictions, the decision, with the consent of the Lender, is transferred by the system to external organizations to settle the dispute in the LEGAL field." And you talked about insurance, we also updated the information: "An important condition for p2p loans there will be an opportunity for the Lender to avail himself of the loan repayment guarantee in the event of the Borrower's non-return of funds (the cost of the guarantee will be from 3% to 15% of the loan amount, depending on the rating of the Borrower). For these purposes, a special reserve fund will be created, out of 10% of funds raised during the TGE and replenished by commission fees."
Our jurisdiction: Cyprus, Limassol, Spyrou Kyprianou 61, SK House 4003
Our jurisdiction: Cyprus, Limassol, Spyrou Kyprianou 61, SK House 4003
Well, I got interested and read your Whitepaper...
And now your project looks like a SCAM to me. Or maybe you are not completely competent in the proj you're trying to create.
Let's take for example your P2P-LENDING SERVICE. There is description how it works in the WP.
So, if someone borrows money and then he decides not to repay the procedure will be as following
And who needs such a "reliable" service? There is no mentioning of loan insurance, risks insurance or of existing of your own system of compensation for losses.
I guess that the WP is aimed at noobs. And everything is written and looks like no one is going to do this seriously.
And now your project looks like a SCAM to me. Or maybe you are not completely competent in the proj you're trying to create.
Let's take for example your P2P-LENDING SERVICE. There is description how it works in the WP.
So, if someone borrows money and then he decides not to repay the procedure will be as following
- 1. The person will be suggested to borrow again. So he will literally prolong the debt.
- 2. Then he will be suggested to borrow from someone else and thus to repay his debt. I guess it's very serious method to solve the problem
- 3. What will be the next step if the 1st and 2nd stages do no good? "If the first two stages have not led to the settlement of the issue, its solution shall be transferred by the system to special external organizations with the consent of the Lender."(c)
WTF?! Are you serious? It's definitely an "Epic fail". What does "External organizations" mean? Is it mafia, FBI, NSA, Interpol?
And what will you tell them?
By the way, what jurisdiction are you yourself under? I haven't found the info.
And who needs such a "reliable" service? There is no mentioning of loan insurance, risks insurance or of existing of your own system of compensation for losses.
I guess that the WP is aimed at noobs. And everything is written and looks like no one is going to do this seriously.