September 13, 2017

Say “Hello!” to Debitum Network

As we at Debitum Network were looking through dozens of blockchain projects lately, we often had trouble getting the gist. We were wondering, why do people busy themselves with so much complex stuff with little-confirmed demand, while the pain we try to eliminate is very simple and obvious.

Later we figured out that not all primary unsatisfied needs have a clear solution through DApp approach. However, our does.

Small businesses around the world are forced to work in a difficult environment — they severely lack access to credit (over $2T gap). You probably never heard of it because the current status quo has long been considered normal and everyone just got used to it.

Digging the reasons for that is beyond this post. In short, major financial institutions keep working with their traditional clients, while smaller businesses never managed to get any better at managing finances. Various pseudo-p2p platforms have filled some spots but never managed to break out to a truly global reach — the only way to leave the critical mass problem behind.

It turns out that the only way to bring ambitious local players to one standard and make them combine and share the resources is to offer a hub that belongs to no one and benefits no particular group or person.

Debitum Network is an Ethereum-based family of smart contracts facilitated by one internal means of payment. Companies or individual professionals who work in alternative finance (providing services in various pieces of the industry’s puzzle) can hook up for free and get the cycle looped, cross-border.

Debitum Network is designed to unite borrowers and those who help them apply, investors (lenders, essentially), risk assessors, document validators, insurers, and others.

Having a substantial first-hand experience in the financing industry, we think we have developed a very sober, pragmatic, and realistic approach to take the industry to the decentralized mode. Our MVP is due very soon. Please read our position paper and join us on Slack. We really hope for some useful feedback.

Our Website: https://debitum.network

Our Whitepaper: https://debitum.network/whitepaper

Get an invitation to our public Slack channel: https://publicslack.com/slacks/debitum-network/invites/new

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