ROSCA
Finance for the ordinary

How to Participate

ICO STAGE 6 :

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INTRODUCTION

ROSCA method is a group of individuals who agree to meet together for save and borrow purpose with a defined period. It is a form of combined peer-to-peer banking (P2P) and peer-to-peer lending (P2P).

According to Wikipedia ‘F.J.A. Bouman described ROSCAs as “the poor man’s bank, where money is not idle for long but changes hands rapidly, satisfying both consumption and production needs.” They are also known as tandas (Latin America), partnerhand (West Indies), cundinas (Mexico), ayuuto (Somalia), hagbad (Somaliland), susu (West Africa and the Caribbean), hui (会)(Asia), palawugang (Philippines), Gam’eya (Middle East), kye (계) (South Korea), tanomosiko (頼母子講) (Japan), pandeiros (Brazil), juntas or quiniela (Peru), C.A.R. Țigănesc/Roata (România), and arisan (Indonesia).’

There are more than 1 billion people or 17% adults in developing countries around the world using ROSCA to save/borrow and support each other within their trusted community. Besides, more than 2 billion individuals or 39% of the world’s population don’t have bank account in the world and they might need help for some financial activity like loan. The bank system is contradicted as their purpose is to serve rich people instead of poor people. For people who don’t have bank account, don’t have good pay job and bad credit score, it will be very hard for them to get financial support like bank loan from traditional financial institution. In fact, they are the group of people which need help the most. Besides, the cost for commercial bank loan will be high for this group of people.

The global market size of the ROSCA is estimated more than 500B USD per year. (The calculation taken will be 1%-10% times the GDP of the country benchmark by India) Besides, the P2P lending market is growing rapidly and has a market size of 70B USD per year globally.

TOKEN SPECIFICATION

The total number of ERC-20 (Ethereum) issued will be limited to 10 billion (10,000,000,000), and not re-issueable:

35%

TEAM

10%

COMMUNITY

15%

RESERVE

5%

FOUNDATION

15%

PARTNERSHIP

5%

MARKETING

15%

TOKEN SALE

USE OF PROCEEDS

45%

TEAM

15%

OFFICE / INDIRECT

15%

CONTRACTOR

10%

MARKETING

5%

CONTIGENCY

10%

OTHER PROJECTS

  • 45% of the funding we obtained from RCA tokens will be allocated to our team salary and allowance, as we believe our team members are the main asset in the ROSCAcoin organization.
  • 15% will be allocated to our office expenses and overheads, such as office rental, utilities, furniture and fitting.
  • 15% is to be allocated to our contractors, including legal advisor, outsource bounty service, outsource designer and other outsource services.
  • 10% is to fund our marketing activities, and these expenses include business development and digital marketing.
  • 10% is for other projects such as implemention for ROSCAcoin merchant, Kiosk, and building infrastructures for remote area.
  • 5% of the fund shall form the contingency reserve.

WHY ROSCACOIN?

ROSCAcoin (RCA) is cryptocurrency which supported by a self-regulating, autonomous, decentralized, blockchain powered Rotating and Saving Credit Associations (ROSCA) ecosystem platform. With the blockchain technology which encompasses smart contract features, ROSCAcoin able to build a financial solution ecosystem which leverages social capital and trusties to collaborate with better financial options by eliminating higher cost of borrowing, easier financing, better investment options and diversification of risk.

THE ROSCACOIN ECOSYSTEM

ROSCAcoin Ecosystem is a complete, transparent, free and effective financial solution. This Ecosystem will contain multiple financials solution provide to our users for investment or lending purpose, the financial platforms in ROSCAcoin Ecosystem is as below:

RCS
RLC
RPP
RCP
RMP
RYP
RLD

ROAD MAP

ROSCA Timeline

2017
September 30

2017

  • September - Market Research
  • October - Business Plan, Marketing Plan, Whitepaper Documentation
2018
January 13

2018

  • March - Pre ICO launch
  • April - ICO launch
  • July - ROSCA Lending Circle (RLC) Core & Mobile Development
  • August - ROSCA Lending Circle (RLC) & ROSCA Merchant Program (RMP) MVP Testing, ROSCAcoin listing in token exchange platform
  • October - ROSCA Lending Circle (RLC) Final Product Development
January 13

2019

  • January - ROSCA Credit Score (RCS) Product Development
  • April - ROSCA Lending Circle (RLC) & ROSCA Merchant Program (RMP) Go Live
  • May - ROSCA Credit Score (RCS) Go Live
  • August - ROSCA P2P Platform (RPP) Core & Mobile Development
  • October - ROSCA P2P Platform (RPP)MVP Testing
January 13

2020

  • January - ROSCA P2P Platform (RPP) Final Product Development
  • April - ROSCA P2P Platform (RPP) Go Live
  • July - ROSCA Crowdfunding Platform (RCP) Core & Mobile Development
  • August - ROSCA Crowdfunding Platform (RCP) MVP Testing
  • October - ROSCA Crowdfunding Platform (RCP) Final Product Development
January 13

2021

  • January - ROSCA Crowdfunding Platform (RCP) Go Live
  • April - ROSCA Lucky Draw Platform (RLD) Core & Mobile Development
  • June - ROSCA Lucky Draw Platform (RLD) MVP Testing
  • October - ROSCA Lucky Draw Platform (RLD) Final Product Development
January 13

2022

  • January - ROSCA Lucky Draw Platform (RLD) Go Live
  • March - ROSCA Charity Platform (RYP) Core & Mobile Development
  • May - ROSCA Charity Platform (RYP) MVP Testing
  • August - ROSCA Charity Platform (RYP) Final Product Development
  • November - ROSCA Charity Platform (RYP) Go Live

DOCUMENTS

Whitepaper (ENG)
Whitepaper (Arabic)
Whitepaper (CHI)
Token Sale Policy
Privacy Policy
Security Law Framework

TEAM

Boon Lee
Boon LeeACMA CGMA, Co-founder, Product, Strategy
Troy Woo
Troy WooCo-founder, Finance, Operation
Franky Tan
Franky TanCo-founder, Business Development
Wilson Chin
Wilson Chin Co-founder, Business Development
Shu Han Goh
Shu Han GohCo-founder, Mobile Lead
Muhammad Chairullah (Irul)
Muhammad Chairullah (Irul)Back End Engineer, Indonesia Community Lead
Sraawan Kumar
Sraawan KumarFull Stack Engineer, India Community Lead
Justin Goh
Justin GohCo-founder, CTO

ADVISOR

Ken Ho
Ken HoIT Advisor
Ronnie
RonnieBlockchain and Mining Advisor
Wilson Ng
Wilson NgBusiness Consultant
Foong Wei Chieh
Foong Wei ChiehBusiness Consultant

SUPPORTERS

REACH OUT

ASK QUESTIONS IN THE CHAT AND CHECK OUR SOCIAL MEDIA CHANNELS

We are transparent with our work and we will answer all questions in a comprehensive manner.

Feel free to engage with us and ask us if you have any questions regarding our work.


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