UNION

Juli 17, 2018

What is Union?
Union is a blockchain where the project uses a collaborative saving platform that connects individuals and organizations from around the world in a trusted ecosystem, without collisions, and enables them (users) to create and utilize a variety of disintermediated financial products and solutions.

By utilizing blockchain technology as well as smart contracts based on ethereum, Union has created the following solutions:

Completely Automasis
Which is where the ecosystem is fully supported by blockchain automatically for instant transaction settlement.

Faster Access to Capital
Our strong rating and assessment system will ensure that the funds will be delivered instantly in a transparent and secure manner to individuals or SMEs.

No Expensive Brokers
The Union removes costly intermediaries from any process and allows individuals and organizations to connect directly and enter into transactions that have already been agreed upon.

Why should the Union?
The Union team believes that any individual or an organization that requires liquidity and the ability to pay must be kept in a collaborative manner without much of its complexity and friction. But the financial system in the current era, individuals or organizations suffered the following losses.

Not Efficient and Consuming Time
Processing usually takes a long time, which is between 4 to 5 days to finish remembering where the borrower has a credit history available and a good credit score Borrower comes from his working capital until the documentation time is verified, this becomes a manual process, it is not efficient and takes a very long time.

Expensive Brokers
A bank or an agent will ask for a large service fee or transaction fee against the amount that creates further friction in the ecosystem as well as make the financial institution lose their competitive advantage.

Allows Increased Fraud
When an application has been run through the entire transaction cycle, the likelihood of fraud or the level of documentation will increase. If it continues, it can cause funds channeled to the wrong entity as well as the increased likelihood of fraudsters exploiting the ecosystem.

Advantages Offered by Union Products

Union Pool
Decentralized platform for collective investment schemes. Smart contract to be able to automate the process of saving and loan among trusted friends.

Union Lending Authentication (ULA)
Algorithms to calculate the establishment of social scores based on various factors, such as timely payments from previous participating Union Pool, in addition to meeting the social commitments of the union, social media accounts, and so on.

Union Social Commitments
Individuals on the platform can create committed contracts, and if upon successful completion of the contract, individuals may receive a positive score on their social status.

Union Advances (UA)
Smart contract to be able to automate the entire discount process from existing bills. Individuals themselves who will discount their company's bill or on behalf of the company, will improve their social scores in Union to get better loan terms, as well as discounts.

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