ROSCA ( FINANCE FOR THE ORDINARY )

ROSCA method is a group of individuals who agree to meet together for save and borrow purpose with a defined period. It is a form of combined peer-to-peer banking (P2P) and peer-to-peer lending (P2P).

According to Wikipedia ‘F.J.A. Bouman described ROSCAs as “the poor man’s bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs.” They are also known as tandas (Latin America), partnerhand (West Indies), cundinas (Mexico), ayuuto (Somalia), hagbad (Somaliland), susu (West Africa and the Caribbean), hui (会)(Asia), palawugang (Philippines), Gam’eya (Middle East), kye (계) (South Korea), tanomosiko (頼母子講) (Japan), pandeiros (Brazil), juntas or quiniela (Peru), C.A.R. Țigănesc/Roata (România), and arisan (Indonesia).’

There are more than 1 billion people or 17% adults in developing countries around the world using ROSCA to save/borrow and support each other within their trusted community. Besides, more than 2 billion individuals or 39% of the world’s population don’t have bank account in the world and they might need help for some financial activity like loan. The bank system is contradicted as their purpose is to serve rich people instead of poor people. For people who don’t have bank account, don’t have good pay job and bad credit score, it will be very hard for them to get financial support like bank loan from traditional financial institution. In fact, they are the group of people which need help the most. Besides, the cost for commercial bank loan will be high for this group of people.

The global market size of the ROSCA is estimated more than 500B USD per year. (The calculation taken will be 1%-10% times the GDP of the country benchmark by India) Besides, the P2P lending market is growing rapidly and has a market size of 70B USD per year globally.

TOKEN SPECIFICATION

The total number of ERC-20 (Ethereum) issued will be limited to 10 billion (10,000,000,000), and not re-issueable:

USE OF PROCEEDS

• 45% of the funding we obtained from RCA tokens will be allocated to our team salary and allowance, as we believe our team members are the main asset in the ROSCAcoin organization.
• 15% will be allocated to our office expenses and overheads, such as office rental, utilities, furniture and fitting.
• 15% is to be allocated to our contractors, including legal advisor, outsource bounty service, outsource designer and other outsource services.
• 10% is to fund our marketing activities, and these expenses include business development and digital marketing.
• 10% is for other projects such as implemention for ROSCAcoin merchant, Kiosk, and building infrastructures for remote area.
• 5% of the fund shall form the contingency reserve.

WHY ROSCACOIN?

ROSCAcoin (RCA) is cryptocurrency which supported by a self-regulating, autonomous, decentralized, blockchain powered Rotating and Saving Credit Associations (ROSCA) ecosystem platform. With the blockchain technology which encompasses smart contract features, ROSCAcoin able to build a financial solution ecosystem which leverages social capital and trusties to collaborate with better financial options by eliminating higher cost of borrowing, easier financing, better investment options and diversification of risk.

THE ROSCACOIN ECOSYSTEM

ROSCAcoin Ecosystem is a complete, transparent, free and effective financial solution. This Ecosystem will contain multiple financials solution provide to our users for investment or lending purpose, the financial platforms in ROSCAcoin Ecosystem is as below:

[RCS]

[RLC]   [RPP]   [RCP]   [RMP]   [RYP]   [RLD]

ROAD MAP

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