In some developing countries, there are many people running a micro business. It is very potential when it is handled properly. When they face some problems in this business, they will get difficult to find banking credit due to the difficult requirements and terms.
It makes micro businessmen need to find the other ways to get credit like other financial loaner. Of course, it makes difficulties and problems for businessmen. Regarding to this problem, blockchain technology presents to overcome it. In this way, Debitum Network will solve this problem with the support of blockchain technology.
What Is Debitum Network?
Debitum Network is a decentralized platform offering funding and credit for micro business with the use of blockchain technology. With the support of blockchain , this platform can be accessed by all sides of micro business in all over the world.
Debitum will merge a credit lender risk value, insurance company, loaner, and document validator under a debitum platform. This platform is generally aimed at micro business in all over the world accessing credit to use and develop their business. Debitum Network uses blockchain technology to keep and distribute fiat investment in micro business.
How Does Debitum Network Work?
With the support of blockchain technology, Debitum Network will create hybrid model of cryptocurrency. It is using fiat money where cryptocurrency is only used for fund and the other operational services. Meanwhile, a distribution of credit loan will be conducted by fiat currency.
This system has designed for a short and medium term to cryptocurrency reaching scalability. Every ecosystem component in debitum network platform will get trust rank based on debitum algorithm.The rank will be accessed for investor or a loaner enabling to make a decision based on information.By using trust – blockchained based technology, Debitum Network brings needed trust for all partners especially investors.
Debitum Network is designed to combine micro business parties who want to get credit with people helping to get the credit such as investor, risk value, document validator, insurance company, and many more. A company or professional individual working in alternative funding can be connected to free network and start to facilitate an agreement. Debitum Network platform is supported by smart contract and ethereum blockchain technology. The offered solutions of Debitum are based on three main pillars.
Solutions from Debitum Network
There are three solutions from Debitum Network with three main main pillars. The solutions can be applied for micro businessmen.
The first solution is decentralized so that all sides in the world can use all products and services in this platform. Decentralization means that it is not centered so that all sides in all over the world can get involved in it. It is different from a banking system having centralized system.
Debitum Network adapts hybrid model. This model will connect fiat and cryptocurrency. Looking at high cryptocurrency fluctuation and in some cryptocurrency countries have no regulation. Credit loaner tends to select to get credit in fiat currency so that this platform will have functions where cryptocurrency is able to connect to fiat currency.
By combining existed benefits in blockchain technology and fiat currency, investors will give credit for micro business sides. As a credit loaner, it increases high trust because debitum network ensures the loaner to pay it again. In this platform, it has trust rank.
Author : Namirah
Bitcointalk link : Namirah
ETH : 0x73a860381d5b3C63E2774c5b07aFF04A2F5d2E8C