meyshella: recognize the GN compass

Hello everyone, I will introduce about Project GN Compass and for that here is the Explanation:

GN Compass, is a peer-to-peer lending platform for Cryptocurrency-Backed Loans ™. Investors invest funds into a pool with a certain interest rate with the amount of investment supported by the Kompas token (GNB). The amount invested is then distributed to the Borrower. The borrower pays the loan (principal plus interest) back to Lender. All transactions are verified and distributed in Ethereal Blockchain.

GN Compass watch the video below:

How it works

For investors

Investors only register and create profiles and investment portfolios. The investment portfolio page will ask Investors about their investment objectives such as retirement planning, preferred payment cycle (for example to request payment of investment into their account on a certain day per month). This is where they will enter the amount they are looking for investing and the interest rate they want to receive plus the time period they want to invest.

Once the profile is completed and Investors are happy with their investment arrangements, they are then asked to add their banking information into a secure payment system. From there, Investors will be given a secure digital wallet attached to their bank account where all transfers and payments will be made. Investor's Investor will then be sent to the loan pool to fund the loan. When the loan is repaid, GNCT supports the loan will be adjusted.

For Borrowers

The borrower will register by creating a username, password and completing the profile page. They also have the option to sign up using their Facebook account, which allows GN Compass to connect and retrieve basic information from their Facebook profile.

Once the Borrower successfully completes their profile and all necessary documents have been submitted and processed, a risk assessment will be made and the borrower will be rated the risk. The loan amount will range from $ 1,000.00 to a maximum of $ 5 0, 0 0 0 0 0 with an interest rate of 3.99% to 11.99%. If their risk assessment matches our parameters, they can continue to implement it. If their risk rating is beyond our parameters, they will be rejected and asked to reapply in three months.

Approved borrowers will fill in loan applications (aka smart contracts), which will ask how much they want to borrow, loan period (eg six months, one year, three years etc.) and loan repayment cycle (eg to make an automatic withdrawal of their accounts on a given day per month). The loan request will be sent to another set of loan requests with the same credit rating under which Investor funds will fund the loan.

The borrower is required to pay the balance protection insurance on the loan. The amount of insurance is the percentage of your outstanding balance. The percentage is determined by the risk rating of the borrower.