All competitors can be divided into two categories:
Our transaction storage system is more open than the first category. You can remember at least a scandal with Lending Club when the turnover of the company was artificially overstated.
SOFIN transactions are stored in a decentralized storage facility based on blockchain. There is also a powerful bonus model based on the private SOFIN token (more in the Smart Contract Structure section).
We benefit from the second category with the legal purity and transparency of each transaction. The loan is given in the fiat currency of the Borrower’s country according to the law. So the Creditor has a clear, legitimate reason to repay his loan.
In addition, we differ from both options with the existence of our own guarantee fund, which reduces the risks of Creditors (more in the Guarantee Fund section). We give loans to both individuals and small and medium-sized businesses. For businessmen it can be both a business development loan and the one to start a new one. The main thing is to make the project viable.
The risk assessment methodology, including the startups, has already been tested in practice. For the startups it will also be a plus if the Borrower has already proven its reliability by taking and returning consumer loans. His ranking and history of consumer loans will be available to the system, and the chances of getting credit for business will grow significantly.
Loans in fiat currency are strictly in the legal field of each country where the project works.
The token will remove international barriers to currency conversion.
The project makes the financial resources more accessible and transparent. All platform operations are stored in blockchain.
The system uses the Ethereum ERC 20 platform.
2010 Rostov region guarantee fund
2011 Offline MFO Expressmoney
2012 Opened the Verum law firm
2013 Miming rigs, cryptotrading
2013 Opened the Elonsoft IT company
2014 Private P2P loans to entrepreneurs
August 2016 P2P platform concept
August 2016 Launch of MFO Loan CLub
July 2017 - to date Commencement of system development
November 6, 2017 preICO
December 11, 2017 ICO
Q1 2018 Token on exchanges
Q1-2 2018 Launch of the platform in Russia and the Guarantee fund option
Q3-4 2018 Launch of the platfrom in the CIS countries
2019 Launch of one country per quarter
Attention. There is a risk that unverified members are not actually members of the team
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