Debitum is a borderless, small business financing network that seeks to revolutionalize the alternative finance industry to enable more small to medium businesses to obtain loans in situations that may previously have been difficult, time consuming, or outright impossible. Through the implementation of the Ethereum blockchain together with smart contracts and off-chain apps, Debitum will revamp the alternative finance industry to better facilitate smaller businesses when obtaining loans. According to a review by the World Bank, although SMEs’ more than 2/3rds of SMEs do not have access to credit. Over recent years alternative financing via peer-to-peer lending, crowdfunding, balance-sheet lending, invoice trading (loans backed by account receivables) and VAT financing, has served to assist financing for SMEs, however no single solution encompasses all fields of business. As a result, the global credit gap still stands at a whopping $2 trillion, accounted by the World Bank Organization and the IFC. Alternative financing can be seen as way to help smaller venture s grow until they become “bankable”; to tick all the boxes required for modern day banking powerhouses to issue a loan. However, whilst the new online marketplaces can reach all corners of the globe, these non-crypt, or fiat, solutions are limited to operate within a single marketplace typically based up the currency used by the region, as well different cultural and business ethics. By utilizing crypto currency, blockchain has the power to truly create an open marketplace for alternative lending. Cryptos are borderless and hold the same value anywhere in the world. This gives Debitum a universal payment tool that can help resolve one of the issues the causes such a larger credit cap. Furthermore, the open source software, and automated smart contracts, enable such as system to function without any intermediary, which eliminates middleman fees to make the process much cheaper than traditional methods. Information About Debitum Debitum (DEB) Coin Name : 400,000,000 Total Supply : USD 0.1000 Pre Ico Price : USD 0.02833 Ico Price : USD 6.80 M / 6000 ETH raised Tokens/Money Raised Through ICO : White Paper : https://debitum.network/assets/files/Debitum-White-Paper.pdf?a_aid=bon ERC223 Token Type : The Debitum Ecosystem Three Pillar Ethos… Debitum is built upon three main pillars, these included true decentralization, hybrid connecting crypto and fiat, and being trust based. Through these foundations it seeks to connect SMEs with global investors looking to distribute capital and increase their portfolio. Communities In order to do this, Debitum will organize participants into groups called communities. Each community will consist of various service providers and institutional borrowers, which could anyone from individuals, to alternative finance companies already operating in the industry. The system encourages each user, as well as the whole group, to participate in the ecosystem and gain more trust, by rating their actions. Each transaction and service performed will either earn the community a rating, or lose them a rating. Communities are ran by a leader who receives a fee from the community’s trust arbitrage smart contract when members are active. This will incentivize the leader to develop business and grow the community. The group is also responsible for resolving issues, and additional functions are built into the trust arbitrage smart contract so that the leader can manage this task. This structure of communities ensures the decentralized ecosystem is self sufficient, with participants maintaining control. To set up a community a user, or organization implements the smart contract interface / API. The initiators must then provide a rating calculation algorithm for community members and make it available for audit by the Debitum Network Trust Arbitrage. Alternatively the smart contract is available for those who are not required to write their own algorithm. Debitum Network Community Community trust arbitrage Inappropriate actions, or users who underperform will be required to improve their behavior or face being removed from the community. If these actions aren’t followed up then the community leader, and sometimes even the community itself, can have their Debitum tokens frozen until a decision is made to resolve the situation. This could include tokens being reimbursed to the affected party, ratings being dropped, or users even being banned from the network altogether. Hybrid Connecting Crypto and Fiat The introduction of cryptocurrencies and the blockchain has fuelled the development of decentralized platform that are borderless and not subject to expensive currency exchange rates. However, despite the fact that the borderless nature of cryptos opens the currency to users worldwide, the seemingly complicated technology behind the concept, as well as the lack of user-friendly application designed to manage these finances, has seriously hindered the adoption of the technology; a factor that Debitum has not failed to address. In order to make the platform more accessible to those who may not have much knowledge about blockchain, the team has introduced a hybrid connecting crypto and fiat currency protocol. This allows users to receive loans, and pay them back, in fiat currencies, with all transactions still being logged on the blockchain via the designated fiat facilitator. The Debitum Token, an ERC223 token, can be used solely to pay for transactions on the network, whilst the finances being loaned can be managed with traditional currency. Cryptos are still in early days, and therefore are still extremely volatile. Introducing a hybrid format that enables loan principles and interest payments to be managed in the traditional manner using existing legacy systems, which makes the whole system easier to comprehend by those with little to no experience with cryptos and the blockchain. Loan Capital Although the platform functions on a p2p basis, Debitum realizes the need for more than a simple twofold approach. Instead the network requires three parties to form a community; the lender, borrower and investor. The investor replaces the function of a loan broker, replacing the middleman for vested party that need not charge extortionate fees. Loan capital is derived from physical goods that are deal with off chain. The borrower puts up assets to act as collateral for the loan. A verifier then assesses the deal, outlines the risks factors and approves the assets to create a pricing structure. Investors may then insure the agreement to ensure full, or sometimes partial, repayment is made. Investors may then use the secondary market to liquidate their loan positions, and new investors may then enter the market to positions already invested in. The borrower then pays back the loan, or defaults on it, at which point debt collection process it started, and insurance policies are executed. Following the transaction trust ratings are updated based on a smart contract that defines the conditions for all involved. Debitum will ensure compatibility and interoperability with other existing finance or FinTech solutions by providing a way for companies new to, or currently operating in, the alternative finance industry, to consolidate their services to create an effective go-to hub for SMEs seeking credit. The minimal viable product (MVP) is already available from the company’s website, Real World Applications The Debitum will initially be aimed at countries where business trust isn’t granted. This will help close the credit gap as these countries greatly contribute to the large different in those who can, and those who can’t get credit. The platform has many real world applications. One of which is as follows: Being denied the opportunity to obtain loans for a business can seriously hinder growth, and since the local banks that previously funded a majority of the small businesses in the area have dwindled, only to be replaced by larger financial coporate-esque banks that maximize profits using inflexible standardized legacy solutions to manage larger businesses. Prior to the Internet age, most SME’s were typically able to receive loans from local banks, and building societies. However the dawn of the new digital era encompassed much of the finance industry and as a result, these local banks that helped fuel these local economies were replaced with large corporations only interested in financing larger projects for greater returns. This transformation of the banking system forced many SME’s to go out of business, and still to this day, it’s harder than ever for smaller companies to get the financial help required to enable growth. For example — A sandwich takeaway shop that is popular for its lunchtime menu receives an order from one of its regular customers; an office located on a higher floor in the same building. However, the office that has recently expanded, and instead of the 30 sandwiches and beverages the team usually order, the request is now for 100 sandwiches and accompanying beverages. The customer orders at least 3 times per week so it’s extremely important for the shop to be able to handle the request, and get it right, in order to secure the additional 70 sandwiches becomes a regular order. A rather simple equation, except the last minute order means they can not get the ingredients from their regular suppliers, instead they must go the markets or the supermarket and pay in cash. Purchasing ingredients and supplies at retail prices increases costs and decreases profits; furthermore, it can cause cash flow issues, as the shop may not have contingency funds available to make the additional purchases. Unfortunately it’s extremely common for SME’s to be put in similar situations, and often they simply go without getting a loan. As a result, growth is hindered dramatically, and in some cases such circumstances can see the shop losing custom as the now 70px strong group of office workers still wish to eat together and thus, take their business elsewhere. Using Debitum the shop can source a willing lender automatically, and the loan can be issued almost immediately. The ingredients can now be purchased, and the loan paid back once the revenues have been received Social Media Information : Facebook URL :https://www.facebook.com/DebitumNetwork?a_aid=bon Likes :14,172 Likers 14,731 Followers How Many Posts / Updates In The Last 7 Days : 10 Recent Updates Twitter URL :https://twitter.com/DebitumNetwork?a_aid=bon Followers :4,310 Followers How Many Tweets / Retweets In The Last 7 Days : 7 Recent Retweets/Tweets Telegram URL :https://t.me/joinchat/G6KFmURKsu0FIfJetJ3mOA?a_aid=bon Users :7,566 Members Telegram Admins User Name :@mliberts User Name :@mmackevicius User Name :@donatasj User Name :@Vytiss User Name :Justas Šaltinis — Debitum Network Reddit URL :https://www.reddit.com/r/DebitumNetwork/ Readers :107 Readers Youtube URL :https://www.youtube.com/channel/UCKWNaiGaJ2XfuDT1gRM7soA Subscribers :638 Subscribers Medium URL :https://medium.com/debitum-network Followers : Not Shown How Many Updates In The Last 7 Days : 3 Recent Updates LinkedIn URL : https://www.linkedin.com/company/24999208/?a_aid=bon Followers :183 Followers How Many Updates In The Last 7 Days : 4 Recent Updates GitHub URL :https://github.com/debitum How Many Updates In The Last 7 Days : No Recent Updates Extra BitcoinTalk URL: https://bitcointalk.org/index.php?topic=2321064.0?a_aid=bon Staff / Team Info : Name :Mārtiņš Liberts Title :CO-FOUNDER / VISIONARY Bio : Well established executive and entrepreneur with deep insight in technology, finance, and the future. LinkedIn :https://www.linkedin.com/in/martins-liberts-6607b6/?a_aid=bon Extra Links :https://twitter.com/mliberts?a_aid=bon https://medium.com/@mliberts?a_aid=bon Name :Donatas Juodelis Title :CO-FOUNDER / PARTNER RELATIONS Bio : Global networker making strong connections worldwide and having the ability to inspire individuals joining the cause. LinkedIn :https://www.linkedin.com/in/donatas-juodelis-60886465/?a_aid=bon Name :Justas Šaltinis Title :CO-FOUNDER / FINANCING OPERATIONS Bio : Successful Certified CFA with an established track record in creating alternative financing eco-system. LinkedIn :https://www.linkedin.com/in/justas-%C5%A1altinis-cfa-57a93714/?a_aid=bon Name :Mažvydas Mackevičius Title :TECHNOLOGY LEAD / BLOCKCHAIN TECHNOLOGY EXPERT Bio : Certified enterprise architect with deep experience in development of secure and scalable financial and global solutions. LinkedIn :https://www.linkedin.com/in/mazvydasmackevicius/?a_aid=bon Extra Links :https://github.com/debitum?a_aid=bon Name :Märt Lume Title :LEAD PRODUCT MANAGER Bio : Employee #1 in what became Slack. Has produced many successful consumer and enterprise software projects in the last 10 years. LinkedIn :https://www.linkedin.com/in/martlume/?a_aid=bon Name :Monika Varkalytė Title :CHIEF MARKETING OFFICER Bio : Inspiring professional having strong brand creation, marketing and UX/UI background. LinkedIn :https://www.linkedin.com/in/monikavarkalyte/?a_aid=bon Name :Reginaldas Raila Title :SOFTWARE DEVELOPER Bio : Experienced enterprise developer focusing on development of business process automation for financial and payment related solutions. LinkedIn :https://www.linkedin.com/in/reginaldas-raila-b5aba094/?a_aid=bon Name :Andrius Bilinevičius Title :SOFTWARE DEVELOPER Bio : Passionate front-end developer focusing on user experience and design, continuously improving his clean coding and deployment automation skills. LinkedIn :https://www.linkedin.com/in/andrius-bilinevi%C4%8Dius-563199110/?a_aid=bon Name :Tomas Babelis Title :SOFTWARE DEVELOPER Bio : Excited about his master degree in theoretical physics and astrophysics, loves solving complicated and algorithms based challenges. LinkedIn :https://www.linkedin.com/in/tomas-babelis-022167101/?a_aid=bon Name :Paulius Gasėnas Title :SOFTWARE DEVELOPER Bio : Craftsman of integrations able to connect any two solutions ensuring high security and scalability of final solutions. LinkedIn :https://www.linkedin.com/in/paulius-gas%C4%97nas-0b6585113/?a_aid=bon Name :Vytis Papečkys Title BUSINESS DEVELOPMENT MANAGER: Bio : Enjoys international community and networking, has strong sense of purpose and loves to work on meaningful projects. LinkedIn :https://www.linkedin.com/in/vytis-papeckys-5b4995110/?a_aid=bon Name :Eglė Sereičikienė Title :OPERATIONS Bio : Detail oriented professional with an extensive experience in SME financing operations. Name :Evelina Stundžienė Title :COMMUNICATION MANAGER Bio : Evelina is an excellent copywriter and translator, with a background in social media, communications, and community management. LinkedIn :https://www.linkedin.com/in/evelinastundziene/?a_aid=bon
