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Debitum Network, a business financing blockchain startup, is quickly emerging as a robust small business finance solution that promises to eliminate the need for the highly over-regulated intermediaries. This project has just completed a successful crowdsale campaign and has recently clinched the first place in both jury and audience in the prestigious d10e ICO Pitch Award.
12th January 2018 – Debitum Network continues its dream run towards achieving its mission towards building a decentralized, safe, and transparent ecosystem for micro, small, and medium business financing. An innovative funding platform based on the Ethereum blockchain, Debitum Network strives to free the SMEs around the world from the middlemen and provide them financing opportunities that have always been out of bounds to them.
Almost all small businesses around the world suffer from the common problem of limited or no access to credit. According to the World Bank, in 2017, approximately 70% of all micro and small to medium size businesses in emerging markets lacked access to credit. It’s argued by many experts that the highly constrained and strict regulations of the banks and financial institutions are intended to restrict the SMEs from receiving funds from international or individual investors. This lopsided business lending scenario has led to a currently estimated credit gap of $2 trillion.
Debitum Network was created with the belief that the only way to overcome the inadequacies of the existing funding system is to build a hub that brings together the local players for resource sharing. Built as a hybrid platform, Debitum Network unites the borrowers with the lenders, risk assessors, document validators, insurers, etc. It is a secure and incorruptible infrastructure, as all actions are processed through the Ethereum Blockchain. Businesses can utilize this service in their locality and from day one because all transactions are run through fiat currencies.
The Debitum Network project is the brainchild of a highly proficient team of experts with a wealth of experience in alternative financing platforms. They have already developed a functional Minimum Viable Product (MVP) in which the full blockchain infrastructure runs on ETH, based on real financing requests from the SMEs.
“We believe that small companies must have fair opportunities to connect investors from any part of the world and then utilize their investments. We have experienced this need ourselves while developing successful IT and alternative finance businesses,” says Debitum Network Co-founder Martins Liberts. “We feel that now it’s time for us to share our experience and to help other companies grow. We are proudly creating an instrument which provides equal growth opportunities for different size businesses,”
All transactions on the Debitum Network will be fuelled by the Debitum (DEB) token. As the Debitum eco-system becomes more widespread, this token is expected to become a sustainable cryptocurrency with a growing value over time. In a recently concluded token crowdsale campaign, the project has successfully raised $1.2 million in the round A.
Debitum Network hit the headlines in October 2017, when they got the better of one hundred and twenty other participants to win the jury and audience awards in the highly rated ICO Pitch Competition at d10e Gibraltar. In the history of this leading international conference on decentralization, Debitum Network is the first project ever to clinch both these awards. The project has also received a 10/10 rating from Clif High, the renowned datamining expert and the creator of the Web Bot computer program.
- Quarter 1: Expanding the Debitum Network team to prepare for global expansion
- Quarter 2: Establishing Debitum Network in the first target country
- Quarter 3: Testing and auditing Debitum Network 1.0 before public launch
- Quarter 4: Develop the Debitum Network ecosystem version 1.0 with manual on-boarding of asset generators, investors and additional service providers
About Debitum Network: Debitum Network is a decentralized, safe, and transparent financing ecosystem dedicated to creating easy financing opportunities for the SMEs by eliminating the intermediaries from the system. It has been designed to unite the borrowers with those who help them apply, such as the investors (lenders), risk assessors, document validators, insurers, etc. All actions are processed through the Ethereum Blockchain, making Debitum Network a secure and incorruptible infrastructure.
Contact: Aurimas Nenorta
Images courtesy of Debitum Network