Lending and borrowing business is not today's thing, it has existed here for over thousands of years and is seen as a great way to gain capital by individuals or communities that can't arrange a particular amount at any given point of time. The centralized system of this business faces a problem of trust as the borrowers do not know about the individual or community they can trust upon to take a loan and even the lenders aren't sure as to how safe it would be to lend money to a particular individual. This problem has existed for all the time since borrowing and lending came to be a part of our economy but with the development of so many things, a solution to this too has been figured out.
Let's take a look
To let people get over the shortcomings of today's borrowing and lending system, Union platform was set up. It is a decentralized platform that is based upon the blockchain and its first and foremost goal for people all over the globe is to provide a marketplace that is organised in a peer-to-peer format and has the capability to directly connect borrowers and lenders . Union has been taken to the blockchain in a decentralized form so as to ease the process of building trust within the users for each other and for the system as well. Through this, Union will also be able to establish an exceedingly fast and uncomplicated pathway for lending and borrowing of money.
The team at Union believes that the community based lending and borrowing system has its abilities inside silos due to the separation of communities that can't conjoin with other communities. For this ability to be put to use in a complete manner, Union provides a platform where community based lending and borrowing will see the true potential in a boundless, secure and transparent manner.
A few key points that need to be kept a mark of about Union are:
- An instant and settlement of transactions
- A system free of frauds
- Absence of any intermediaries which cut short the charges
- Being built on blockchain, trust and security is sure to be there
- Individuals will be marked with scores for upon completion of commitment contracts.
The UNI token sale
The UNI token sale is to be conducted from the 1st of May to continue for the next 60 days before closing on 31st of June or it may also end beforehand on the day the hard cap is reached. The bonus structure will be such that the investors taking part in the first 24 hours will get 20% bonus while those doing so in the first week of the token sale will be given 15% of bonus. The bonus will be of 10% and 5% for those investors who buy the UNI token in the second and third week respectively. The price per UNI during the sale will be US$0.03125. Union has provided three options for investing in the sale, that are, BTC, ETH, LTC.
A final word
The lenders and borrowers can finally take a breath of relief because the major issue of trust has been dealt with by the rise of Union platform. As Union mainly focuses on the Indian crowd of around 400 million people, it can potentially replace the previous system that has turned out be problematic from time to time for both ends. The best thing that this platform brings along with itself is the potential to set aside the need of intermediaries. Union is something that people in the community of lenders and borrowers must look up to in the times to come.
Website - http://www.getunion.io/
Whitepaper -http://www.getunion.io/Union_Whitepaper.pdf
Telegram - https://t.me/UNI_Token
By:Asareheroharehe
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