Wed, 14 Nov 2018

Hero Token

Hero Token

The Future of Banking in Southeast Asia

Review Project

Since 2015, we’ve helped thousands of Filipinos access short-term credit and that number is growing fast. As a pioneer in online lending in Southeast Asia, we have become one of the most distinguished Fintech startups to disrupt the highly entrenched, multi-billion dollar lending industry. Through our platform, we are already providing a revolutionary solution to a significant problem among the unbanked and underbanked across emerging markets.

Headquartered in Singapore, we fully operate online with no branch infrastructure, allowing us to keep operating costs low and to stay focused on our customers. We are transforming lending into a frictionless, transparent, and highly efficient digital experience for Southeast Asia.

Our vision is to disrupt the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more inclusive system that allows people access to credit.

Solution

Introducing Hero, the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the success of this token sale, Hero intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank and Alibaba, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.

Our first product was launched in 2015 and is the first fully licensed online pawnshop in Southeast Asia. PawnHero essentially turns mobile phones into pawnshops. Because we don’t maintain a physical pawnshop and leverage technology, we are able to reduce interest rates by more than one half, providing access to cheaper credit that improves livelihoods. We do not limit ourselves to jewelry but also accept among other collateral electronics, watches and handbags.

Filipinos no longer need to leave the comfort of their homes in order to get a loan. In the past two years, we've provided loans to individuals that would have been turned away by the traditional pawnshops pawnshops due to the type of collateral they pawned as well as by banks because they have no credit history. We’ve improved access to credit by using the internet and we want to scale our impact using Blockchain.

How It Works

PawnHero disrupts the traditional pawnshop experience by providing a hybrid virtual and physical service. The PawnHero operating platform (“Opus”) combines a seamless frontend customer experience with backend operational processes allowing PawnHero to manage and control the customer experience and the business.

The customer submits item information (“Requests”) at pawnhero.ph through their phone or desktop computer.

After the customer submits their item details through a series of drop down menus, Opus links the request to our Magnus Loan pricing model which instantly delivers several loan offers with different loan maturities to the customer. The customer then selects their preferred loan offer and is guided through Customer Information, Payment Method, and Delivery modules.

Opus then arranges for a PawnHero motorbike courier (“PawnTrooper”) to pick up the item from the customer’s home at no charge to the customer. At the time of pickup, the PawnTrooper completes the legally required Know Your Customer (KYC) procedures, issues a pawn ticket to the customer, and receives the item for delivery to our Operations Center.

At the Operations Center, our expert appraisers authenticate the item and assess the condition of the item. If the item authenticity is confirmed and the condition of the item is as represented in the Request, then the loan is released through Opus to the preferred pay-out option selected by the customer. If the item inauthentic, then the item is returned to the customer and the customer is charged a 100 pesos (USD 2) delivery fee. If the item is authentic but not in the condition represented in the Request, then the appraiser estimates the revised value of the item and Opus delivers a new loan offer via SMS and email to the customer. If the customer accepts the revised offer, then the loan is released through Opus to the preferred pay-out option selected by the customer. If the customer declines the revised offer, then the item is returned to the customer at no charge to the customer.

PawnHero stores the pledged items at the Operations Center in a secure and environmentally controlled centralized vault. Opus tracks the movement of the pledged items throughout the process until the items is either returned to the customer upon redemption by a PawnTrooper or the item is sold

Token Sale

Crowdsale Opening Date

20-11-2017

359 days ago

Crowdsale Closing Date

20-12-2017

329 days ago

Allocations

The amount of tokens that are created for the Hero chain are all dependent on how many coins are sold during the token sale. A maximum of 250,000 Ethereum (ETH) tokens will be accepted for the purchase of Hero tokens in this token sale. The maximum amount contributed will in turn represent 80% of all Hero tokens. Since we don’t know the total that will be sold, the token sale operates based off of percentages to ensure fairness for all. Should the maximum amount be reached prior to the end of the sale on TBD, which is 4 weeks after the start of the token sale, we will cut off the token sale. In the event that such maximum amount is not fully funded by the end of the token sale, the percentage of 80% of all tokens will be adjusted accordingly, with the difference between such lower amount and the maximum amount being reserved for future token sales

Team

Name

Position
David Margendorff Chairman of the board
Manny Ayala Director
Nix Nolledo Director
Kristi Bautista Director
Alexander Corpus Director and Treasurer
Paul Rivera CEO, Kalibrr
Jimmy Cassels Managing Director, Spyralitics
Jose Balderama Former General Manager,
Cebuana Lhuillier
Sulficio Tagud Former CEO, 2GO Logistics
Farouk Meralli CEO, mClinica Inc.

Written By

Isuk
Profile
ETH : 0x237706bfE11D4C4E148b4764c8f7Da37743657d4