UNION - The Bill Discounting Platform on Blockchain

INTRODUCTION

The rise of cryptocurrency and subsequent attention brought to blockchain technology has prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. One such firm at the forefront of blockchain innovation is UNION

ABOUT UNION

Union is an Indian company targeting Indian market, of approximately 400 Million Millennial, and market size is around 200 Billion USD. However, given the public ledger system of our blockchain technology, the platform is available for use by lenders all over the globe.
Union has established expertise in offline community lending system and as well in generating online ifnancial services in the lending sector. We want to take our services to another level to give the users our platform the best possible experience by leveraging the power of blockchain technology and smart contract system to improve the peer-to-peer lending process.
Union first initiative is to put Collectively Investment Schemes, also known as trusted lending circle, or Rotating and Savings Credit Association (ROSCA) on blockchain. Collectively Investment Schemes is used around the world to lend and save money within communities, to support each other financially.
As the existing Collectively Investment Schemes work on silos within the separate communities, traditionally it is very hard to leverage the reputation and trust outside of one’s trusted circle. With Union social capital gained can be utilize across the platform, as the solution is decentralized, transparent, secure and auditable. This will help us in creating an ecosystem of financial products, which users can avail, based on their reputation.

Project GOAL
The Union project aims to provide an alternative decentralized lending solution to individuals and small businesses with the use of the innovative blockchain technology. The Union Blockchain lending platform supports both Cryptocurrency and fiat money.

Vision
To create an e-democratic financial ecosystem for banked and unbanked individuals, on blockchain technology while making use of trusts, commitments, and social capital.

Mission
To improve the financial inclusion of the individual by leveraging the blockchain technology. We are going to do this by removing the inefficiencies in the existing system, and automating the different processes of lending and borrowing. Union will focus on developing portfolio of financial products that will use social capital and trusts of an individual.

Features of Union

Smart contract which is a binding contract and is secure and safe while it monitors the basic working of the platform.
Decentralized which helps it to work globally for all the individuals.
Auditable as it can be audited easily.
Encrypted so that your data is safe and secure.
Transparent so that people can know what actually is going on at the ground level.

How does it work?

Union is a blockchain based platform which basically works om four of its products

Union Pool – Basically it is a decentralized platform for collective investment schemes. Schemes will run using smart contracts to automate and save the lending process. It will have all the features of chit chatting, funding, bidding and assigning the projects while it will monitor all the working of the platform efficient.
Union Social Commitment – It works on the basis of a social ranking which is given to the individual of the platforms after the completion of smart contract. More the trust, more the people you will have to invest in your idea. More will be the connection which will be used ahead.
Union leading authentication – It also works on the basis of rankings which is given on the basis of the worthiness of a user on a platform that includes timely payment of other scheme funds, other projects and their social accounts. More the credibility score more will be chances of people trusting the individual and after that, they can establish their connection outside their circles too.
Union advances – An individual owning a business when once gets the credit score and gains trust then they can make their own smart contracts to be fulfilled by the people. As it is decentralized and democratized, everyone can take part in it increasing the chances of business to grow accordingly.

TOKEN AND ICO DETAILS

The Union (UNI) Token is a token on Ethereum platform. It is ERC-20 compliant, and follows widely adopted token implementation standards. Ethereum is a popular cryptocurrency and blockchain system based on the use of tokens, which can be bought, sold, or traded. The ERC-20 defines a common list of rules for all Ethereum tokens to follow to accurately predict how new tokens will function within the larger Ethereum system.

The token sale started 1st May 2018, and you can be a part of this saving platform very easily and conveniently. The token sale will use UNION tokens to make transactions in the token sale event. In the month of July, the token sale will be over.

Token Name – UNION (UNI)

Max Number Of Tokens – 200,000,000

Token Sale Start Date – 01-05-2018

Token Sale End Date – 31-07-2018

Maximum Cap – $5,000,000

Token Rate (1 UNI) – $0.03125

Currencies Accepted – BTC, ETH, LTC

Minimum Contribution – 0.1 ETH

Contract Type – ERC20

Token and Funds Allocation