How AZ Fundchain is going to help you save money.
Put in simple words that is our goal, we want to help you save money using the blockchain. We want to help you plan & increase your financial savings in a manner which will benefit you immensely all using the blockchain as the base technology.
The whole concept of blockchain in a way has been to make everything more transparent and give more control to the user. We believe this should be the case in everything were it can be successfully implemented. Financial inclusion for the users was the focus we had in our mind when we build AZFundchain. What we offer through our app is the traditional ROSCA (money circle) and crowdfunding methods of raising funds. We offer it to everyone through our app which runs on the Ethereum blockchain.
ROSCA model has been around for a very long time and has proven successful from the beginning till today over a long period of time and over a large variety of communities through out the world. Although it has had many modifications and many different versions of it, what we offer is its basic and simplest form. Interest free ROSCA with fixed payout amounts and pre agreed dates with no bidding system involved.
But then the big question remains why would people use AZ Fundchain to implement ROSCA and that too using crypto currency?
To understand the benefits of AZ Fundchain first we must understand what problems it is solving. Let us list down each problem along with the solutions given by AZ Fundchain and explain why AZ Fundchain is the strongest stepping stone in the path to a safe and strong financial inclusion for everyone.
- In the traditional ROSCA system even though it has been successfully implemented for a long period time there has always been a lack of transparency and safety. AZ Fundchain is build on the Ethereum blockchain which helps it run without the chance of fraud, censorship and third party interference. It is immutable through blockchain. All transactions on AZ Fundchain will be stamped on the smart contract forever. Which gives it an extra layer of transparency and safety.
- The bigger the number of participants in a single ROSCA circle the better it is for the users participating to raise larger funds with a minimum investment. But the bigger the money circle gets the harder to organize without errors and to manually do it is always a difficult task. Since AZ Fundchain is on the blockchain and decentralized and transparent it solves this problem. All data is stored on the blockchain never serving the interest of anyone. A strong infrastructure for a reliable financial tool distributing information and authority to give equal rights for each participant. Highly resistant for central manipulation.
- The traditional ROSCA is very localized and not easily scalable which in turn restricts the participants from bringing in their trusted families & friends who are not close geographically into the circles. AZ Fundchain since it runs using crypto currency as medium of transactions solves this problem. It is highly scalable and at the same time secure. Using crypto currency anyone in any part of the world can do transactions between each other removing geographical location barriers between the users.
- AZ fundchain has always had communities as the focus of the project. The ultimate goal is to make AZ FundChain a community driven environment which requires the consensus of participants with symmetric information. A strong connected community which has achieved financial inclusion and which can support each other collectively is the first step of a successful economy. This is one of the core visions on which AZ Fundchain is build.
Our AZ Fundchain app is getting ready for a public beta release in May 2019. Once the beta version of the app is available for the public, users will be able to run their own money circles with their family members, friends and trusted individuals in their community.
In the initial version of the app they will be able to run the money circles using ETH or AZT as their medium of transfer. Studying the usage scenarios of the app as well as listening to the user experience and feedbacks from our community will help us further perfect the app and improve the future versions of the AZ Fundchain app.
Become a part of our project via AZ Token. Learn more about the project at www.azfundchain.io . IEO begins soon on www.stex.com
Follow us on our official social media channels for the latest updates on our project.
Twitter: https://twitter.com/azfundchain
Telegram: https://t.me/fundchainAZ
Facebook: https://www.facebook.com/azfundchain/
Youtube: https://www.youtube.com/channel/UCEwWl9_c_qgH715C2ZvrJBw
website: http://www.azfundchain.io/
