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Review on Pngme and PngCoin

For so long, it has been most difficult to access capital in emerging markets. This is not peculiar to an individual alone but families, entrepreneurs and financial institutions facing a similar issue. To this end, an alternative lending platform has been designed that will give digital credit scores not to business owners alone but also individuals that have no access to such opportunity before. The Pngme platform aims to close the over $5.2 Trillion gap in finances which directly affecting over 200 Million Micro- Small and Medium Enterprises (MSMEs) thereby encouraging economic development at the bottom of the pyramid. 

What is the mission of Pngme?

Pngme is a universal platform that embraces blockchain technology with a decentralized rating and digital credit scoring algorithm to give institutional investors access to the alternative asset class. Being decentralized makes it an open and transparent lending platform that provides access for borrowers to obtain low-cost capital while the investors can access the alpha. 

pngcoin review

How Pngme is building a Global Alternative Asset Lending Platform and Mobile Payment Application

For all the users using the platform, Pngme will issue a digital bonds that are sold on their lending marketplace to interested investors to raise capital and provides all the amenities to credit score their customers. There exist a Credit Score API that will be integrated into the borrowers’ mobile App with the purpose to embed credit default risk into the digital bond. With this, it will become possible to provide all the past credit risk information about the client and allow investors to price capital more accurately and increase their supply of affordable capital for borrowers.  

Not only that, the mobile application that is available on both Android and iOS will increase access to finance to both consumers and business owners. Users can make direct payments from mobile to mobile, enable saving and with the digital credit score, users of the mobile App can access finance anywhere in the world. 

The mobile App is going through beta testing to ascertain that all features work as expected and it will be launched in the last quarter of the year 2019. The mobile App will allow all the early users to earn rewards from the Pngme Network, lend money and build their borderless credit score. The second release of this mobile App will feature USD, GBP, EUR, and KSH currencies to a user’s wallet which will provide an avenue for users to make instant payments and save in their local currency.

Pngme has created the following solutions for lending markets:

  • A competitive lending marketplace that grants access to digital currency marketing specifically targeting the following borrowers:
    • MSMEs
    • Mobile Money Networks
    • MFIs
    • Digital Asset Hedge Funds
  • Collateralized of loan contain within the ​digital bonds using the liquid digital assets or mobile phone locking technology  thereby reducing the risk and exposure associated with the borrower default
  • It provides an avenue for lenders and market participants to buy loans from borrowers at competitive rates based on transparent since the lending rate occurred in a decentralized marketplace.
  • The Pngme hybrid credit score allows borrowers without a formal credit score to access cost-effective credit through a network of MFIs and Mobile Money Networks
  • Since Pngme Network aims to reduce the cost incurred for accessing capital from financial services, a white and grey label has been created on the mobile App that permits MFIs and Mobile Money Networks to pass on low-cost credit to their customers due to the reduced cost of administering credit and disbursing loans.

What is the function of Pngcoin in the Pngme ecosystem?

The native token that will drive the Pngme Network is PngCoin and this will be generated and issued by Andromeda Technologies Ltd (the ​Token Issuer​), an exempted company incorporated in the Cayman Islands. The Pngcoin is primarily developed to be used by two sets of people which are application users and the network validators

There are various ways which are provided to acquire PngCoin which includes:

  • Signing up an account in Pngme Network using mobile App
  • Staking of PngCoin in the user’s saving account
  • Referring to friends and family the Pngme platform and enjoy the referral reward
  • Buying PngCoin in the secondary market

There will be no initial public sale of PngCoin to individual and institutional investors but can be acquired via the steps highlighted above. Nevertheless, the custodian in charge of the token generation, Andromeda Technologies Ltd will still be able to sell all the unlocked Pngcoin from its treasury through a private sale, token grants, Initial Exchange Offering (IEO) for the primary purpose to foster the marketing, finance and the growth of Pngme ecosystem.

For any user who staked PngCoin, they will be entitled to some special discount in the Pngme ecosystem which includes transaction fees on peer-to-peer payments made within the Pngme mobile app thereby making PngCoin a discount utility token

PngCoin Token Details 

The PngCoin with the symbol PNG will have a total supply capped at 1,192,258,185 PNG and built on top of ETH-20 platform. The private sale will begin at $0.02 per PNG. 

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