Winance is a KYC-powered Blockchain-enabled financing system of the world.
Winance is about addressing the finance of the human beings in the world.
WIN is the name of the coin.
Access to capital is a very crucial tool to eliminate poverty and increase
productivity. How can we ensure that every human can get at least 10USD worth
of loan? If we can get them a small loan they will be able to get a bigger loan
as they build trust on the system. The initial number is not important.
Here is an example of how a loan transaction might happen:
Tanvi(in India) is looking for loan to buy a bike from Royal Enfield.
The bike costs 1,00,000INR. Keithr equests KYC data on the chain which Tanvi
provides and chooses to fund depending on the data.Keith from Europe wants
to fund the loan. Keith buys WIN token worth 1 Lakh INR and transfers
it to Tanvi on condition that it is used for buying a bike. Tanvi can use that
money only for bike purchase by transferring that WIN token to Bike owner. Bike
owner converts it into INR through an exchange. Tanvi keeps paying back to Keith
in installments through WIN token which he can use it to loan to someone else.
Current crypto currencies have an inclusiveness problem. WIN coin is an inclusive
decentralized system where every human being starts with some coin
as soon as he/she does their KYC(after ensuring that there is a reasonable
probability that it is not duplicate) is needed. This way every human being is
interested in both doing their KYC and particpating in the economy.
Loans disbursed in this system are a lot more safer than ordinary loans. Why is
that? Loan disburser can be sure that the money is being used for the right
purpose by tracking where the loan amount is going.
There is an entire futures and options market place that needs to run to peg
the WIN coin to a certain amount for each individual contract.
Coins get created when somebody does KYC. We ensure some inflation exists which
incentivizes players who attract other people to come and do their KYC and generate
their own KYC. We will need to involve people who verify other people’s kyc and
contribute to the authenticity of KYC.
What are the benefits this offers?
- It is inclusive. Everybody will want to be part of the financial system because
their KYC brings some cash and makes loans accessible to them. Cheaper capital
can fund more expensive capital.
- It creates an ecosystem for finance guys to make money by being part of the
loan disbursing system (through offering options and contracts to those who want
to give loans)
- The coins accrue value whenever a company accesses the data of these people.
- The data accumulated will hold a huge amount of long term value.