A Micro P2P Financial Platform that Enables Repeated Small Loans, “RETURM”

A micro P2P fintech platform, Returm, is making a change in the microcredit financial platform industry.

At 2018 Crypto Festa, hosted by BTCC Korea at Shilla Hotel on November 15, Returm CEO Young Geun Cho introduced a “micro P2P fintech platform, Returm,” which enables repeated micro-loans.

CEO Cho explained that the majority of people choose the most convenient way to deal with any inconvenience, and he thought that we need a project to prevent any action to get compensated for tokens and break the rules of the existing blockchain market. According to Cho, fintech platform Returm is the project.

Moreover, a public and trusted information system is built by using a verification protocol owned by an account based on smart contract in order to improve transparency and security of Returm.

In particular, Cho emphasized that Returm is a micro P2P financial platform that does not just apply blockchain to an existing P2P financial platform.

According to Cho, the micro P2P financial platform lends a very small amount of money so can't be exchanged for credit, makes users accountable for the loan, and receives investment about it. Since the amount of loan is very small, it can be repeatedly used by making a loan in a short period of time.

Cho said there are three biggest advantages of the micro P2P financial platform, which are zero possibility of payment avoidance, the relatively high number of targeted customers, and very strong customer loyalty.

 

Reporter Kyeongtaek Lee (mcqingze@gmail.com)의 기사 더 보기

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