Whitepaper. Blockchain-based secured loans. Project resume - p.1 Trittium platfrom - p.2 Roadmap - p.11.

Transcription

1 Whitepaper Blockchain-based secured loans Project resume - p.1 Trittium platfrom - p.2 Roadmap - p.11

2 Abstract This whitepaper seeks to address the problem of loans faced by millions of people all around the world. Trittium platform and the Trittium coin would proffer a solution to such a problem using the basis of the blockchain technology. The goal of this whitepaper is to assess the problems and provide a solution that is both practical and technologically satisfying. 1

3 Project resume A new era of secured The answer to these problemes is the implementation of a new, innovative platform, that based on Trittium coin (TRTT). loans We develop a platform, that changes the loan issuing industry. For the future with possibility to easily take out a loan. Conception of Trittium platform - - An opportunity for loans without credit history, with low-interest rates, and high loan amount. One of the key distinctions between the Trittium Platform and other lending platforms is our focus on collateralized loans over anything to do with credit scores. 2

4 Future of secured loans World s assets have no future. Blockhains will сonquer finance markets with loans secured by rapidly expanding class of assets. Market value $1 750 Trillion Cash Equities & Repo Transactions $ Trillion Cloud Storage & Computing $8 Billion Derivatives & Foreign Exchange $630 Trillion Diamonds & Jewelry $78 Billion Physical Gold $7.8 Trillion Real Estate Titles $15.6 Trillion Our platform is able to shape the world s finance markets. 3

5 Main problem of loans When people must take out a loan, they generally have three options or some combination thereof. This includes a creditscore based unsecured loan, a guaranteed loan, or a collateralized loan. These are often used for short-term loans which can be to cover holidays, school tuition fees, a new car or boat, or day-to-day cash flow, while larger or longer duration loans for capital purchases or a mortgage will require either collateral and/or a guarantee from a third party. When applying for credit-score based loans, there are a number of steps involved. First, identify a lender who will provide a loan of the amount, and repayment terms you want and can afford, after which you will need to put in an application. Once this application is being processed, it will then go through a number of credit scoring checks, to identify your past history of repayments. This score directly relates to the interest rate you will receive. Trittium plarform s focus on collateral also means that we don t need to worry about credit scores at all. If you have good credit history, this can proceed smoothly, but if you have a spotty or poor credit record, this can lead to underwriting rejecting the loan outright, or offering a loan with penal interest rates or other terms. Also as credit scoring history is shared between people in the industry, including requests by different companies to look at your score, a rejection can compound itself and lead to subsequent applications for finance being impacted. As we have seen with the recent breach of Equifax, this highly valuable information must also be secured so it doesn t fall into the hands of those who shouldn t have access to very private financial information. Other lenders require a guarantee to support your loan application. For instance if you are 18 and want to get a second-hand car, and have no prior lending history or credit score, a parent may be asked to guarantee the loan repayments. This gives the lender an assurance that if the person taking the loan out is unable to make payments, a third party will step in to keep up the loan repayments. This can help some people who have access to a third party to help overcome the hurdle, while it can limit the options to those who don t. The third option, and the approach that the Trittium platform is taking is a purely collateralized loan. Traditionally, in a home mortgage or the purchase of a new car, for instance, the asset itself or alternative existing securities which an applicant has in their portfolio is put up as collateral. However, as these tangible items aren t exactly liquid or divisible, in the event of a default, the entire loan and the asset underlying it can be foreclosed, even if a large portion of the loan has been repaid. Our solution Where Trittium differs is by using blockchain assets as collateral. As these are divisible, as well as liquid, in the event of a missed payment, a portion of the asset can be sold off to bring the loan performance back into line with the terms of the loan. For example, if someone is takes out a $10,000 loan, pays back half of the loan, and then runs into cash flow problems for a month, a portion of the collateral will be liquidated. This isn t possible with traditional assets 4

6 as you can t exactly sell off one room in your house, the steering wheel of your car, or part of a share. At Trittium, we believe people are happiest when they have access to the things they need or want. This is purchasing power and it s what credit provides. Credit becomes debt when someone borrows. Today, we live in a world of over-indebtedness and debt can be crippling when the money borrowed is used in unproductive ways. Lenders gauge a borrower s ability to repay debt by looking at his/her assets and expected future earnings. The largest reason for consumer default is a loss of employment, which changes someone s earnings. When income is consumed by existing debt service, especially for those without a job, it can feel like you are drowning. But not all debt is bad. Debt can be empowering. Credit and debt have changed a lot over the years. In the post-world War II period, the widespread adoption of mortgage credit helped spur economic growth and led to widespread home ownership. Credit cards, which took off in the late 80s, made transacting easier and safer. More recently, financial innovation, central bank intervention and online P2P networks have sustained high levels of access to credit. Today, it s different. A credit score is now something we anxiously monitor and worry about. Why? Because everyone borrows and everyone wants to maintain the ability to borrow. Through catchy jingles and offers of free services, the consumer, over the last decade, has learned to revere the mighty credit score. Now we re all convinced that our financial freedom can be boiled down to this three-digit number. Before 1995, this figure had little meaning to anyone other than a bank s loan officer. 5

7 Future of blockchain & credits with Trittium Blockchain, however, will change the credit landscape. Blockchain technology is driving the next evolution of consumer credit and the implications are far more meaningful and widespread than prior financial innovations. Future lending decisions will shift away from credit analysis and will be based more heavily on asset analysis. At Trittium, we see a future where people worry less about their credit score and spend more time recording and monetizing the assets they already have. In a similar way to how Uber made it possible to monetize your car, Trittium will enable the monetization of an ever-increasing universe of tokenized assets. In the not too distant future, ownership of all assets will be recorded and transferred on various blockchains. The increasing recognition of personal assets, at a low cost and in a secure and immutable way, will offer consumers true financial freedom. We will be able to store and transfer energy credits, computation credits, reputation, and anything else you can think of on blockchains. Credit scores will continue to play a role in helping banks determine the creditworthiness of borrowers for unsecured loans, but today s narrow banking definition of an asset is undergoing a radical change. This is going to lead to much more secure, low-cost credit availability the empowering kind of credit. The kind that doesn t steal from the future. 6

8 A new source of money creation with Trittium Ultimately, what we are talking about is providing a new source of money creation. Through blockchains, we can create a system that gives value to previously latent capital, unlocking the wealth of physical and social assets. Imagine a loan backed by your computer s processing power or collateralized by your reputation. This is what we are building at Trittium. It all starts with bitcoin-backed loans. What would you program your money to do, if you could program it to do anything? It s the Genie s three wishes scenario. Our first wish, of course, would be for more wishes. It s human nature to want more out of things. Can we program our digital assets to make them more productive, to allow for greater purchasing power? The credit market for digital assets is in its infancy, but we at Trittium are excited about the opportunities ahead. 7

9 Global crisis we We provide economic freedom, independency, welth and total security. prevent Crisis prevention is mission of Trittium There is a global crisis and it is costing you more than money. It is costing you Economic Freedom, Independence, Wealth, and Security. The Trittium platform was formed to help alleviate this problem. Approximately 2 billion people worldwide do not use formal financial services and more than 50% of adults in the poorest households are unbanked. The underbanked and unbanked do not have sufficient access to mainstream financial services and products. Lacking access to savings, remittance and credit hinder the economic and social opportunities for individuals and communities. In many cases these groups show a strong reliance on non-traditional forms of finance and are susceptible to individuals or services that charge higher fees for the same services that formal financial services provide. This system creates unfair and unregulated dependencies on expensive and sometimes exploitative informal services. 8

10 How our technology can help? We believe blockchain technology is the key to create opportunity for individual and community empowerment. The reasons for Financial Exclusion are varied. Individuals can face difficulties through regulatory constraints, geographical barriers, lack of proof of identity, low levels of financial literacy, cultural traditions, linguistic barriers, and much more. Blockchain technology is the key for surmounting many of the barriers to Financial Inclusion. The blockchain is a digital and decentralized ledger, recording all transactions publically. The blockchain requires no trusted third party, transactions are immutable, and can be sent anywhere in the world (with a computer or smartphone). This technology helps to - Create digital identification - Offer low-cost payment solutions - Fight predatory and discriminatory practices through the transparency of data-exchange - Reach communities affected by geographical barriers There is value in the adoption, use, and understanding of blockchain technology. The concern is that it alone is unable to solve these issues. It is simply a tool, not a silver bullet. It is our intention to use this technology to augment Financial Inclusion efforts to provide specific examples of success, legitimize these claims and to show the way for traditional powers to follow. 9

11 What makes the Trittium platform Different? The Trittium believes that Financial Literacy education, blockchain technology, and cryptocurrencies will encourage upward social mobility. The Trittium believes that Financial Literacy education, blockchain technology, and cryptocurrencies will create opportunity for Financial Inclusion, and more importantly encourage upward social mobility. It is important to note the goal is not simply the creation of opportunity but ensuring that opportunity is fulfilled. Typically you will see the term of Financial Literacy defined as: the ability to use knowledge and skills to manage one s financial resources effectively for lifetime financial security. That is a broad stroke for a complicated problem. This doesn t account for most of the issues we outlined above. The barriers to Financial Inclusion are much more than knowledge and skills. It is the opportunity and practical application of knowledge and skills that enacts change. it is about knowledge, skills, and opportunity translating to behavior. Therefore Financial Literacy for our purposes can be defined as: The knowledge, skills, and attitude to manage and/or create one s financial resources effectively based on the opportunities available for that individual. This definition more clearly accounts for the multitude of barriers to Financial Inclusion. We understand that this issue is a global one, that each individual affected should have different measures of success and unique, mutually agreed upon intended outcomes. Influencing behavior should be based on individual circumstance. Inclusivity The use of blockchain technology can help solve Financial Inclusion, however, the value of that technology varies from community to community. There are numerous and varied reasons why an individual or community is unbanked. In order to understand the barriers of each, we must invite and encourage individuals and communities into the dialogue around programming solutions. 10

12 Roadmap. The way to success. In Trittium we believe that plans for future and our already achived goals show the potential of out platform. We made a roadmap to show it. Results achieved Main aims Before 2nd Quater of 2018 y. We found an investor and attracted investments for development of our plaform. 2nd Quater of 2018 y. In this quater, we laucnhed blockchain and our Trittium coin was officially listed on exchanges platform and mastenodes sites. We also developed Web, Mac, Windows, Linux wallets and released whitepaper, that describes potential of Trittium platform. 3rd Quater of 2018 y. We will be listed on coinmarketcap, and will start widely spread marketing company to attract attention on our product. Mobile wallets will be developed in this period too. 4th Quater of 2018 y. We plan to update our wallets and increase awareness about our platform. Also, we plan to start beta testing of our platform. 1st Quater of 2019 y. At this moment, we will be listed on Top5 exchanges and our platform will be officially released. 11

13 A small spark can start a great fire In order for that to happen, we must start small, we must understand and embrace our limitations as actors of change. Once we show success we will continue to be agile in facing and solving new barriers that present themselves. We will create the blueprint and lead the charge for greater social impact. This is a global issue yes, but the solution lies in each community. We welcome all insight, feedback, and collaboration. We believe we will help shape the world s future and doing so make the world a better place for all.