Hero: Banking the Unbanked

Hero will provide banking services in Southeast Asia.

Hero, a cryptocurrency project aiming to provide banking services to the unbanked in Southeast Asia, is running a crowdsale beginning November 20, 2017, aiming to raise funds to provide these services using blockchain technology. The organization behind this crowdsale has operated since 2015 as PawnHero, offering a virtual pawnshop to provide loans at a discount to unbanked and underserved communities. Alibaba and Softbank both have invested in PawnHero.

The currency of the blockchain platform is the Hero Origen Token (HERO), which will provide unique benefits and privileges to token holders. The platform in which this token will be primarily used along with unique financial services is the Hero Capital Market Platform. HERO tokens will also be very liquid at numerous exchanges and will be convertible to other tokens and cryptocurrencies used outside of the platform.

Using the internet and blockchain technology, Hero aims to undercut mainstream financial institutions that have neglected billions of people all over the world, as stated in the Bitcointalk ANN thread. By using mobile apps and connecting borrowers and lenders, Pawnhero has been able to reduce interest rates to borrowers by as much as half compared to traditional pawnshops. The Hero cryptocurrency project has the potential to leverage this user base and the organization’s experience in dealing with the unbanked to provide the benefits of blockchain technology. Running on top of Ethereum, users can execute “smart contracts” based on preconditions agreed by both parties to avoid intermediaries with automatic execution and transfer of value. The platform will also be able to give lenders useful information on credit risk based on data on borrowers from the blockchain.

The Hero team has extensive experience in finance, marketing, and entrepreneurship, and is led by David Margendorff, who founded PawnHero. Given the team’s track record of success in business, investor confidence will be buoyed, which will help in attracting the funds needed to meet its goals.

The Hero team has plenty of experience in finance.
Click the image to view the Hero team.

Southeast Asia in particular is poised for massive economic growth, with a rapidly-emerging, tech-savvy middle class. According to its website, Southeast Asia has the fastest-growing rate of internet use and is the fourth largest internet market in the world. By 2025, according to a study by Google and Temasek, the internet economy of Southeast Asia will be $200 billion. With more people having Facebook than bank accounts in this part of the world, the potential growth for servicing these populations is massive.

According to the project’s whitepaper, HERO token holders will receive 20 percent of the fees charged to users of the platform on a quarterly basis, with the ultimate goal of giving token holders these payments every month. These payments will be issued in Ether (ETH) to associated addresses and will be proportional to the amount of HERO owned.

The Hero crowdsale offers special bonuses.

During the crowdsale, one HERO token will be worth .005 ETH, though investors will be entitled to bonuses that will depend on how early they buy the tokens. HERO tokens are ERC20 compatible and can be stored in standard Ethereum wallets.

*I am receiving Hero tokens for the growth of the community.

Bitcointalk author: pushups44