HERO: The future of banking in Southeast Asia

Introducing Hero

Hero is the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the launch of its crypto-currency unit called Hero Token, HERO intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.

Blockchain technology can liberate many financial services from the confines of old institutions, fostering competition and innovation to provide better, faster, and cheaper financial services to those who are outside or heavily burdened by their local and formal financial systems.

Two billion people, about 40% of the global population, are still unbanked or underbanked and cannot get access to affordable credit to allow them to go to school, remain healthy and grow their smal busineses–credit remains a roadblock to economic prosperity for billions of people.

What is hero?

Hero is the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the launch of its crypto-currency unit called Hero Token, HERO intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.

The Solution

HERO Capital Market Platform

The Hero Capital Market Platform will utilize blockchain and smart contract technology which will enable a network of financial service marketplaces comprised of a series of interdependent and mutually reinforcing projects in the Southeast Asian market focused primarily on promoting financial inclusion, transparency, and efficiency by enabling the efficient, frictionless, legally enforceable, and profitable transfer of digital currency to/from local fiat currency in order to provide capital for individuals and businesses in markets that are currently excluded from transparent and efficient access to financial services.

Building the New Foundation using Blockchain Technology

Blockchain technology can liberate many financial services from the confines of old institutions, fostering competition and innovation to provide better, faster, and cheaper financial services to those who are outside or heavily burdened by their local and formal financial systems.

What is hero token?

HERO is built as an ERC20 token on the Ethereum blockchain and is identified through the ticker symbol Hero.

The token sale is an event in which the crypto-currency project sells part of its tokens to early adopters and enthusiasts in exchange for funding.

The Hero Token enables the community to participate in PawnHero’s success story, rather than limiting it to a small, selected number of traditional venture capital funds. By issuing Hero tokens, tokenholders will benefit from PawnHero’s future success. A token sale is fast, transparent and efficient for exactly this purpose.

Even in the age of technology, about 40% of the global population, lacks access to primary financial services and affordable credit. Despite making our economy globally sound, the financial services industry fosters with problems that make it more distanced from the people. Financial institutions do not give services to the unbanked as they are simply unprofitable or too risky to serve. However, because of their monopoly in developing economies, many of them have no incentive to improve products and consumer experience, increase efficiency or appeal to the coming generation of customers.

Hero, The PawnShop:

It is a digital platform designed to impart credit grants, without economic biases. The lack of access to primary financial services has given place to major barriers for the people to overcome poverty by making it almost impossible for them to borrow or save money. Savings and lending are the two pillars of the modern society, serving as both fuel for funding economic boost and funds in times of financial crisis; former being the capital, and the latter being the credit.

Both national and local economies are influenced by the easy flow of capital. Access to credit is a crucial factor responsible for the growth of any economy. Hero is an enterprise that started with the aim of making credit smoothly available and relatively economical, to outreach the unbanked and under banked community. It is an e-Platform created to allow credit grants, without partiality. The project started out in Southeast Asia, with the further plan of expanding and growing. . The plan is to delve in this market and develop a system where credit and loans could be granted to the masses.

Hero Pawnshop uses blockchain technology which liberates many financial services breaking through the old institutions, fostering competition and innovation to provide improved, quick, and economical financial services to those who are outside or heavily burdened by their local and formal financial systems. Their vision is to renovate the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more intact system that permits people access to credit.

How it works?

PawnHero distinguishes from the traditional pawnshop experience by providing a collective virtual and physical service. The PawnHero operating platform (“Opus”) is a combination of a seamless frontend customer experience with backend operational processes allowing PawnHero to manage and control the customer experience and the business. It is the first of its kind pawn shop that provides to their customers via mobile phones and desktop computers.

The PawnHero, is a space where customers can get loans against a collateral, that can be accessed through the comfort of their homes. The user interested in taking up a loan submits the item information, for the article that they would like to pawn, at the pawnhero.ph website. The loan amount and maturity dates are decided by Magnus, a digitalized platform that helps calculate the Loan to Value ratio (LTV), which looks into several intricate aspects of the transaction taking place. Once the customer has decided his preferred load offer, the way is paved through Customer Information, Payment Methods, and, Delivery Modules.

Hero Token:

The Hero Token is the specific currency of Hero that is provided to investors at the time of the ICO (Initial Coin Offering). 80% of the tokens will be up for sale while the rest of the 20% will be given to advisors, early believers, bounties, and founders. Funds collected through the token sale will be used for Software Development, Marketing, Legal and incorporation expenditure, and Operations. These funds will not only help Hero expand but even grow and better the services provided.

Hero chooses to work with Ethereum which enhances the development of custom programmed applications on top of the blockchain, like smart contracts, database access and storage. Ethererum’s Smart Contracts represent the basic pawnshop principle of a smart contract, of ones that happens manually and offline. Ethereum Blockchain combined with Machine Learning, Artificial Intelligence and IoT are enabling Hero to incredible innovations to building trust, transparency and traceability in transactions in both the financial system and in the real economy.

With the coalition of significant companies like Softbank and Alibaba, this project raises infinite possibilities and could help bring about financial growth, especially in Southeast Asia. Hero’s mission is to revolutionize the banking industry to make credit more readily available and affordable for the unbanked or under banked. This project promises to flood the market with numerous opportunities and pathways of success.

Hero ICO

HERO total supply 250,000 Ethereum (ETH) worth of Hero Tokens (equivalent to 50,000,000 Hero Tokens). The final number of Hero tokens is defined after the end of the token sale based on amounts contributed.

Token Distribution
Hero Tokens are created and given to buyers as soon as they give ethers to the sale contract. Trading and transferability only starts after the end of the token sale. From a practical point of view, this achieves the same thing as not giving the tokens until after the sale. But from a technical standpoint, we avoid the problem of the token handout at the end of the sale from running into the gas limit.

1 HERO token is equal to 0.005 ETH (1 ETH will buy 200 Hero tokens)

Accepted Cryptocurrencies
Ethereum (ETH), ETH Classic, BitCoin (BTC), Ripple, LiteCoin, Waves

Token structure
Hero present earning opportunities to those who hold Hero tokens. Individuals earn real rewards that are directly correlated to their contributions. Those rewards will have dollar value and are liquid.

THE TOKEN SALE START

You may join our Slack https://herotoken.herokuapp.com, subscribe to our newsletter or email tokensale@herotoken.io to receive the latest updates.

HERO tokens provide other facilities for those who are committed early on. Extra tokens are offered to those who commit early. Please see the table below for the bonus token schedule.

  • Presale Day 1 (first 3h) +30% token bonus;
  • Presale Day 1 (3:01h-24h) +20% token bonus;
  • Day 2 and day 3 +10% token bonus;
  • Day 4 to day 7 +5% token bonus;
  • Day 8 to 14 2.5% token bonus;
  • After day 14 0% token bonus.

For more details visit our bounty thread on Bitcointalk.

You can participate in token sales.

Presale — Day 1
If you wish to join the pre-sale, you need to send a direct message to @david on Slack (do not post it in #general). Example: “Hi David, please reserve 10 ETH for me. Thanks”

Actual Token Sale — Day 2
No minimum applies after Day 1. There is no maximum amount you can invest.

Presale

Monday, November 20, at 8pm (GMT+8)

Team HERO