HERO: The future of banking in Southeast Asia
What is hero?
Hero
is the future of banking that provides collateralized loans to the
unbanked and underbanked consumer across Southeast Asia. With the launch
of its crypto-currency unit called Hero Token, HERO intends to expand
into blockchain-based uncollateralized loans. Backed by venture
capitalists such as Softbank, Alibaba and 500 Startups, the organization
started operating in the Philippines in 2015 and has since helped
thousands of Filipinos to obtain access to affordable credit.
What is hero token?
HERO is built as an ERC20 token on the Ethereum blockchain and is identified through the ticker symbol Hero.
The
token sale is an event in which the crypto-currency project sells part
of its tokens to early adopters and enthusiasts in exchange for funding.
The
Hero Token enables the community to participate in PawnHero’s success
story, rather than limiting it to a small, selected number of
traditional venture capital funds. By issuing Hero tokens, tokenholders
will benefit from PawnHero’s future success. A token sale is fast,
transparent and efficient for exactly this purpose.
Even
in the age of technology, about 40% of the global population, lacks
access to primary financial services and affordable credit. Despite
making our economy globally sound, the financial services industry
fosters with problems that make it more distanced from the people.
Financial institutions do not give services to the unbanked as they are
simply unprofitable or too risky to serve. However, because of their
monopoly in developing economies, many of them have no incentive to
improve products and consumer experience, increase efficiency or appeal
to the coming generation of customers.
Hero, The PawnShop:
It
is a digital platform designed to impart credit grants, without
economic biases. The lack of access to primary financial services has
given place to major barriers for the people to overcome poverty by
making it almost impossible for them to borrow or save money. Savings
and lending are the two pillars of the modern society, serving as both
fuel for funding economic boost and funds in times of financial crisis;
former being the capital, and the latter being the credit.
Both
national and local economies are influenced by the easy flow of
capital. Access to credit is a crucial factor responsible for the growth
of any economy. Hero is an enterprise that started with the aim of
making credit smoothly available and relatively economical, to outreach
the unbanked and under banked community. It is an e-Platform created to
allow credit grants, without partiality. The project started out in
Southeast Asia, with the further plan of expanding and growing. . The
plan is to delve in this market and develop a system where credit and
loans could be granted to the masses.
Hero
Pawnshop uses blockchain technology which liberates many financial
services breaking through the old institutions, fostering competition
and innovation to provide improved, quick, and economical financial
services to those who are outside or heavily burdened by their local and
formal financial systems. Their vision is to renovate the current
financial system that excludes 2 billion people from the banking system
by leveraging technology to create a more intact system that permits
people access to credit.
How it works?
PawnHero
distinguishes from the traditional pawnshop experience by providing a
collective virtual and physical service. The PawnHero operating platform
(“Opus”) is a combination of a seamless frontend customer experience
with backend operational processes allowing PawnHero to manage and
control the customer experience and the business. It is the first of its
kind pawn shop that provides to their customers via mobile phones and
desktop computers.
The
PawnHero, is a space where customers can get loans against a
collateral, that can be accessed through the comfort of their homes. The
user interested in taking up a loan submits the item information, for
the article that they would like to pawn, at the pawnhero.ph website.
The loan amount and maturity dates are decided by Magnus, a digitalized
platform that helps calculate the Loan to Value ratio (LTV), which looks
into several intricate aspects of the transaction taking place. Once
the customer has decided his preferred load offer, the way is paved
through Customer Information, Payment Methods, and, Delivery Modules.
Hero Token:
The
Hero Token is the specific currency of Hero that is provided to
investors at the time of the ICO (Initial Coin Offering). 80% of the
tokens will be up for sale while the rest of the 20% will be given to
advisors, early believers, bounties, and founders. Funds collected
through the token sale will be used for Software Development, Marketing,
Legal and incorporation expenditure, and Operations. These funds will
not only help Hero expand but even grow and better the services
provided.
Hero
chooses to work with Ethereum which enhances the development of custom
programmed applications on top of the blockchain, like smart contracts,
database access and storage. Ethererum’s Smart Contracts represent the
basic pawnshop principle of a smart contract, of ones that happens
manually and offline. Ethereum Blockchain combined with Machine
Learning, Artificial Intelligence and IoT are enabling Hero to
incredible innovations to building trust, transparency and traceability
in transactions in both the financial system and in the real economy.
With
the coalition of significant companies like Softbank and Alibaba, this
project raises infinite possibilities and could help bring about
financial growth, especially in Southeast Asia. Hero’s mission is to
revolutionize the banking industry to make credit more readily available
and affordable for the unbanked or under banked. This project promises
to flood the market with numerous opportunities and pathways of success.
For more information visit:
Website: https://herotoken.io/
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