Inspeer (INSP) ICO Review – ICO Token News
Today, the traditional loan approval process has become longer and more cumbersome. So, first, there is an obvious need to streamline the lending mechanism for making it fast and simple. Also, with the rise of different cryptocurrencies, there is a need to engineer a financial lending system that works with not only fiat currencies but also their crypto variants.
All these factors point toward the development of a scalable, innovative P2P network that accepts both fiat and digital currencies. What the financial world needs is a peer-to-peer decentralized platform that improves the existing financial system’s efficiency—a platform that is based on the blockchain technology and other fintech innovations. And that is exactly where Inspeer comes into action.
Inspeer—transforming traditional P2P lending through blockchain breakthroughs
By recognizing the need for fintech innovation and by deploying the most cutting-edge technologies in the financial ecosystem, Inspeer has been a trusted name in the P2P and P2B lending landscapes. However, now, this fintech company is all set to introduce additional utilities that are backed by the robust blockchain technology and a variety of cryptocurrencies.
Inspeer leverages the blockchain technology, and that is how it revolutionizes the borrowing and lending businesses of cryptos. This platform is a pioneer in developing and deploying fintech innovations that make it the first-ever P2P platform streamlining the borrowing and lending of different cryptocurrencies along with the traditional fiat ones.
All in all, the developers of Inspeer state that it is a “modern financial platform, designed to meet a demand for blockchain projects, offline and online companies, and individuals.” Apart from the blockchain technology, this platform offers a suite of features including the following ones:
- Using machine learning and AI–bases scoring
- Leveraging the AML verification
- Deriving customer data from different credit bureaus
Because of these features, the clients of this platform get the most favorable terms whenever they are taking a loan; meanwhile, the lenders can safely and seamlessly earn a very high return on their investments. So it is basically a win-win situation. Now, here’s a rundown on how Inspeer works and what makes it different from other lending platforms out there.
Fintech gives Inspeer the competitive edge of tomorrow
The best thing that separates Inspeer from the rest is that this platform allows its users to borrow and lend in not only fiat currencies but also cryptocurrencies. In this platform, there is no intermediary between the borrowers and lenders, and they can directly interact with each other via a robust peer-to-peer platform. Also known as “crowdlending,” this platform connects borrowers with investors or moneylenders; here, the moneylenders lend small amounts of funds directly to many borrowers.
There are many crowdlending platforms available today—and nearly every one of them faces the problem of having a sophisticated credit scoring system. Until now, many traditional institutions, such as FICO, continue providing an accurate analysis of the likelihood of a borrower to pay back a specific loan. Doubtlessly, many crowdlending platforms are still not able to offer a similar degree of accuracy and success. That is precisely where Inspeer grabs the opportunity.
Inspeer is built on a platform that is known as LightFin.ru; the brand, which was established in 2016, is operated in Russia as a micro-lending service. With this platform, consumers can take online loans within 1.5 minutes—now, that is the real speed unlocked by this platform. This loan-approval process is empowered by an automated process that brings down the total time to approve a loan.
Inspeer brings automation and quickness to a crypto-loan approval process by working with the revolutionary blockchain technology. This platform’s credit scoring system is known as InsCore Machine Learning—a system that is engineered to provide reliable credit ratings to the platform’s participants.
Inspeer’s features that introduce unmatched reliability to crypto lending
Here is a list of the ultimate features that will be part of Inspeer; these features are already functional in LightFin.
- A wide gamut of financial services
LightFin has a robust scoring system along with an empowering loan distribution pipeline. From the get-go, Inspeer plans to offer similar services that include fiat issuance of credit cards and virtual cards along with loans in cryptocurrencies. These two features will be soon made available after the launch of this platform. So, put simply, it is a pioneer platform that provides loans in not only fiat currencies but also the digital ones. For offering crypto loans, Inspeer executes the same scoring and assessment procedures that it follows for providing fiat loans. Because of such a setup, the crypto holders can easily earn a high, secured yield from a variety of digital assets—something that cannot be achieved earlier because of the absence of a fixed income investment option or a traditional banking deposit for digital currencies. In the long run, the team behind this platform aims to extend its suite of financial products by providing the support to medium- and small-sized businesses.
- A sophisticated machine learning scoring model
As already mentioned above, the absence of a trusted credit scoring model has always hurt multiple lending platforms and crowdlending service providers. For solving this, the development team at Inspeer created InsCore. Talking of InsCore, it can be thought of as a scoring model that consists of close to 1,000 scoring cards for making collateral lending and microlending possible. This platform leverages the most refined versions of artificial intelligence and machine learning to carry out a complete analysis of a specific borrower. These multiple scoring cards analyze the ability of a borrower to repay a specific loan; this assessing task is done by leveraging 20,000 predictors as well as variables from a range of alternative and conventional sources available.
- OLAF is the next-gen anti-fraud system
OLAF is a full-fledged online system that is engineered to track all the users who have been caught faking any format of data on the internet in the past. The system is home to a complete database of computers and devices of these users. Inspeer leverages a foolproof anti-fraud system for bringing down the platform’s risk.
How Inspeer reimagines the existing crowdlending ecosystem?
The mission of the team behind Inspeer is to offer the most accessible and affordable loans to their borrowers and deliver an attractive risk-adjusted ROI to all of its investors. Now, here are the different opportunities that this unconventional crowdfunding platform brings for borrowers and investors.
- The different opportunities for different borrowers and investors
Inspeer brings to the table all the endless possibilities for building a rich array of investment diversification. The key advantage of this lending platform is that its business model is extremely scalable, and the operation can easily and relatively achieve a global footprint. Because of this, the investors and borrowers can experience a better hedge against a number of systematic risks; this platform’s risk factor is low when it is compared with other less scalable lending businesses.
- The AutoInvest tool makes the lives of investors and borrowers simpler
Inspeer knows that investing the funds can be a difficult task. That is precisely why this crowdlending platform uses the AutoInvest tool for simplifying the existing lending landscape. With this tool, the investors and borrowers can seamlessly streamline the processing, selection, and investment on this platform’s listings automatically.
- Experience the benefits of rock-bottom fees
On average, Inspeer claims just a 2-percent transaction fee for analyzing a borrower’s creditworthiness along with managing the platform. Because of this low fee, investors can ensure to get the best rates and the greatest returns easily. Also, this platform leverages a sophisticated scoring mechanism and other leading-edge prediction capabilities for analyzing the credit risk associated with every individual loan. In the coming time, Inspeer will introduce an unbiased rating system for allowing borrowers to up their respective loan limits and receive the fairest interest rates.
- Ironing out the screening-related and credit-scoring issues
The InsCore and OLAF systems will seamlessly solve the screening-related and credit-scoring problems that are generally faced by every other traditional P2P and P2B lending platforms. On average, the fraudsters’ proportions in a conventional loan portfolio can easily touch 10 percent; likewise, the proportions of insolvent borrowers in the same portfolio can touch 30 percent. Because of this, the loan portfolio generated on Inspeer will benefit from the market’s premium credit quality without any hassles.
The Inspeer ICO—details that matter the most
- The Inspeer ICO token sale began on November 5, 2017.
- The supply of the ICOs, which are also called INSP tokens, is up to 50 million.
- Any token that remains unsold during the ICO will be completely destroyed.
- The token offering will be halted whenever the maximum ICO goal of raising $30 million USD is touched.
- The tokens value is 1 INSP = $1 USD.
Now, why would any investor or borrower buy an INSP token among so many ICOs available today? Well, an INSP token clearly represents the absolute right to receive a specific part of the distributable profits of Inspeer. After every six months, 20 percent of the platform’s net profit will get transferred to an investor’s Ethereum wallet that is based on different smart contract conditions. Because of the presence of smart contracts, there is no chance of any fraudulence at any time.
- Investors: 85 percent
- Team: 9 percent
- Bounty: 3 percent
- Advisors: 3 percent
- 1 day: 15 percent
- 1 week: 10 percent
- 2 weeks: 5 percent
- 3–4 weeks: 0 percent
- 28 percent is allocated to a BitcoinTalk campaign (thread support)
- 26 percent of the bounty share is allocated to a BitcoinTalk campaign (signature banner)
- For a twitter campaign, 18 percent of the share is allocated (like and retweet campaign)
- The Facebook campaign gets 18 percent of the ICOs (like and repost campaign)
- Ten percent is earmarked for exclusive support (all the significant help with the project)
The project goals of Inspeer’s ICO
- $2 million: Inspeer will plan to introduce the robustness of P2P lending in Estonia and Russia; this lending platform will mainly prioritize a virtual card, payday loans, and cryptocurrency lending as a whole.
- $6 million: Inspeer will even open the P2P lending platform in Latvia and Spain; the development team working behind this platform is all set to issue plastic cards having a well-defined credit limit for all the regular customers.
- $12 million: Inspeer has the vision to scale this crowdlending model a bit further by opening in the UK. The team behind the platform will even launch a well-structured debt restructuring program for every regular customer and get an EMI license.
- $30 million: This platform will offer a number of loans for medium- and small-sized businesses. Also, this platform will even implement a specific cross-border payment system and will finally bring the benefits of venture capital crowdfunding to the masses.
The brains behind Inspeer
Inspeer is helmed by a talented team of crypto specialists and technology mavericks. The team includes Denis Kabanets (Founder and CEO), Denis Ryabikin (CTO), and Nikolay Otvechalin (CFO). The platform is officially registered in Seychelles under the name of Inspeer Limited. This team puts in a lot of hard work to ensure that the quality of the loans on this P2P crypto-lending platform is high while bringing down the levels of default. Inspeer is scalable enough to grow and adapt itself to the changing needs of the always-evolving crowdlending market.
The bottom line
In the end, it is evident that Inspeer aims to offer a better transaction experience to all its lenders and borrowers. Unlike many other traditional crowdlending platforms, this blockchain-based lending portal has streamlined the way cryptoloans are sourced. Put simply, Inspeer can reliably earn a sizeable ROI in a safe environment without any hassles whatsoever.
What is more? With this platform, the borrowers can easily access low interest rates. So did you find the idea of Inspeer interesting? If so, share it with other cryptoinvestors and borrowers who want to enjoy the benefits of the blockchain technology along with lower fees and enhanced security.