Hello everyone!
edit: Please note that entire details are not yet disclosed and there are a lot of other changes to be done. Tokenomics would be released soon. Shortly explaining, UCF would be a CEDEFI project and the first every project paying interest even to the borrowers. Savings & borrowings would be much easier along with lot added benefits. Can't disclose sensitive information here so just gave a short summary about what we actually are planning ahead.
Let me introduce the project first, UCF is the centralised digital chit fund company established on blockchain. Chit funds are a traditional means of savings and borrowings which has been included in India's internal financials since centuries. UCF was established in 2019 & the beta version would be released in Q1 2022. The final product release date would be in Q4 2022.
We spent almost a year in studying the current problems in the chit industry and the root cause for most of them was the lack of transparency. By engaging smart contracts, we provide 100% transparency, Accessibility, Reliability & Affordability.
Digitalisation in chit industry will decrease the acquisition & onboarding cost and will enable the companies to do business more transparently. Chit funds seek to fill the gaps left unfilled by the banking sector. Apart from the attractive returns, they instil a habit of savings amongst individuals in a community based setup.
Coming onto the coin, UCF would be a utility token which would be used on the platform for joining & paying EMI's for the chit rounds. UCF would be the only valid collateral on the platform to borrow loan. UCF could also be used to create your own chit group where you could be the captain.
For more info,
Website:
https://umachit.fundWhitepaper:
https://umachit.fund/wp-content/uploads/2021/09/Whitepaper-v1.pdfANN:
https://bitcointalk.org/index.php?topic=5367043.0
Coming onto my need, (updated)
We are looking for a lead developer to join the team.
The developer should be familiar with solidify, web3 & javascript. Offering a long term position.
Best regards,
Rohan Kotkar
CEO- UmaChitFund
https://umachit.fundWhy do so many say that this is a scam, is it because it is related to loans? If that I think it's very possible