Inspeer: decentralized P2P lending ICO
- Keep Your Coins Safe: The Ultimate Guide to Bitcoin Wallet Apps - September 28, 2020
- What is ZEROONE? - August 19, 2020
- Keeping Track of the Latest Bitcoin News to Understand the Rise of Trade Volumes - August 10, 2020
Building on top of an established microlending business, Inspeer is creating an innovative decentralized platform for peer-to-peer lending. With loans available in both fiat and cryptocurrency from the start, the company is launching an ICO to fund development and international expansion. Tokens will be available to purchase from 6th November and owners will be eligible to a share in the company’s profits, distributed via an Ethereum smart contract.
The people behind Inspeer have already launched an online lending platform operating in Russia and Estonia under the LightFin.ru brand name. This service, which provides customers with access to short-term loans, processed over 200,000 loan application in its first month alone.
Based on this success, the same team are looking to leverage their experience to drive forward with the integration of cryptocurrency and decentralized technology and aggressive expansion into China, Estonia, Latvia, Spain, UK and other countries.
The Inspeer platform will facilitate peer-to-peer lending in both fiat and cryptocurrency for individual borrowers and small businesses. Soon after launching, the company will also introduce virtual and plastic debit cards for its users.
In order to protect lenders, the platform makes use of loan pipelines and scoring algorithms. Together these will analyze more than 20,000 to determine credit-worthiness, while at the same time filtering out fraudsters using fake identities.
The InsCore credit scoring model developed with partners Scorista who specialize in AI and machine learning, consists of 1000 scoring cards for both unsecured microlending and collateral lending. This provides an instant analysis of prospective borrowers.
Running alongside this scoring algorithm, the OLAF system tracks users who substitute fake ID data, and includes a database of devices used by these fraudsters.
Inspeer will conduct an ICO crowdsale for its INSP tokens starting on 6th November and running until 6th December 2017.
The total supply of INSP tokens is limited to 50 million. Investors purchasing during the ICO will be offered these tokens for $1 each, with bonuses of up to 15% for early participation. Any unsold tokens will be burned after the ICO closes.
Every 6 months 20% of the net profits from operating the Inspeer platform will be distributed to token holders. This distribution will be conducted on a pro rata basis via an Ethereum smart contract.
For more details about the platform, to sign up for updates and participate in the ICO please visit: inspeer.io