iP2PGlobal (TWQ) ICO Review – ICO Token News
A tremendous growth in the realm of blockchain technology has opened the possibilities of building a comprehensive financial services ecosystem that provides excellent transparency features. The iP2PGlobal is introducing a global solution that will provide affordable and attractive financing services to the borrowers and risk-adjusted returns to lenders. By using advanced technology, a company is planning to develop a P2P financing platform called as iP2PGolbal Personal Financing Platform. This platform is designed to bring borrowers and lenders of all around the world at one place. The company also launches its ICO to generate funds for the development of its project. If you want to grab more information that how to invest in ICO then click the link https://www.icotokennews.com/how-to-invest-in-icos/
All about iP2PGlobal
The iP2PGlobal is planning to develop a peer to peer platform based on blockchain (similar to Guardium, CryptoLoans, Ternio, Lendo, ABYSS, EQUI, Fiancia) technology and smart contracts. This platform will play well in connecting borrowers and lenders of different countries around the world at one single platform to provide fast, easy and reliable services to them. The platform is named as an iP2PGlobal platform.
The platform will work on the basis of Sharia finance principles. According to the Sharia finance principles, interest is not accepted from borrowers and users should not be involved in some unclear investments like gambling, selling of impure goods, etc. The Sharia finance principle is related to the “Ethical Finance” that focus on the value of equality, morality, and fairness in finance.
The platform will provide its services to Muslim traders and lenders who follow the rules of Sharia Finance Principles. However, Non-Muslims are also allowed to utilize the benefits of this platform. Initially, the platform is offering two financing products that include secured and unsecured based on Tawarruq contracts. The platform is powered by new utility token called as TWQ (based on Ethereum’s ERC 20 Smart Contract).
Key Features of The iP2PGlobal Platform
One Global Rate
The platform offers global benchmark rate for all borrowers and lenders in the p2p personal financing. Rates will only depend according to their individual credit rating.
Takaful Reserve Fund
The unsecured lenders will get an option to contribute and protect in a default situation
Automated Pool Matching
By introducing an automated matching system, a company wants to match lenders with borrower’s pools to ensure fair distribution of financing.
Robust Credit Assessment
The company offer robust assessment that combined bank-grade credit score model with social credit scoring model
The company follows Anti Money Laundering and knows your Customer procedures at the time of registration of borrowers and lenders on the platform to offer best banking practices.
Immediate Usage of TWQ Tokens
A platform is supported by blockchain technology and modified to accept TWQ tokens to start the financing activities.
Fast and trusted
It is supported by ERC-20 Smart Contracts and blockchain technology that allow making fast, trusted and transparent transaction.
The platform products follow the Sharia principles that target the global Muslim population.
Choice in financing
They are offering first unsecured and secured personal financing products by using proprietary utility token.
What Problems iP2PGlobal Platform is Resolving?
The peer-to-peer is a new platform which is first started in the UK in 2005. It allows lending of money to individuals and businesses via online services that accomplish the prime needs of borrowers and lenders. Before the introduction of a P2P platform, the main source of financing was traditional lenders like finance companies and banks.
Today, a p2p platform is grabbing huge popularity but still, this model is facing some challenges that include localized platform, high cost in Forex exchange, Low transparency and Non-effective capital match.
The iP2P Global platform will resolve these problems by offering transparent and faster financing services to borrowers and lenders. The company is established by the talented team of professionals who have years of experience in banking, fund management, debt origination, bond trading and in sharia & conventional field.
The company is using ETH as a medium of financing and borrowing on the iP2PGlobal platform. ETH is widely traded across the world on different cryptocurrency exchanges (such as ODEM, Requitix, Shping, Play2Live, Apollo, AQwire ); therefore, it can be easily sold and purchased by the individuals by using fiat or other cryptocurrencies. Moreover, they are utilizing Smart contract that ensures faster, efficient and trusted transaction on the platform.
What is TWQ Token?
The TWQ is an ERC20 token that allows token holders to submit an application to accomplish their personal financing according to the Commodity Tawarruq trading program via an iP2PGlobal platform. TWQ is a pure utility token and does not provide any rights and functions to its holders. These tokens are reusable. The borrowers will return these tokens to the holders after the maturity of successful financing payments so that they can use it for future financing applications.
iP2PGlobal ICO Details
- Token Name : TAWARRUQ
- Token Symbol :TWQ
- Nominal Value :1 TWQ=0.0002 ETH
- Pre-ICO start Date : 19th Feb 2018, 00:00 UTC
- Pre-ICO closing Date : 15th April 2018, 23:59 UTC
- ICO start : 16th April 2018, 00:00 UTC
- ICO close :30th April 2018, 23:59 UTC
- TWQ Issues Date : TWQ will be issued not later than 21 days after the closing date of ICO
- ICO Public Issuance : 60%
- Team and advisors :25%
- Treasury Holding :5%
- Early Contributors & Bounty Program : 10%
Allocation of Funds
- ICO Marketing : 30%
- Business Development :15%
- Reserve Funds :15%
- System Development, IT : 30%
- Legal & Compliance :10%
With the aim of bringing borrowers and lenders at one place from all over the world, iP2PGloabal is planning to develop a new platform. This platform will follow the guidelines of Sharia finance principle and provide two financing products that include unsecured and secured financing. The company will raise the funds by launching its ICO for the development of its new and improved P2P financing platform that works on blockchain and smart contract technology. The newly developed platform will take around nine months to get completed. If you also want to promote this project then give your contribution by participating in its ICO.