We all are aware that small companies are the heart of the industrial sector. Many researchers stated that small companies as well as the emerging startups are not able to attain the required financial assistance. Therefore, there is a big gap seen in the financing of small businesses, which is required to be resolved immediately. When it comes to the numbers, SMEs contribute more than 50% towards the Gross Domestic Product in various nations across the globe.
Even then, the small companies are not able to get the financial assistance that it requires. All this is happening because of the credit gap, which occurs due to the inefficiencies existing in the small firms and financial institutions. Simultaneously, the banking procedures are so rigid and outdated that the banks are reluctant to provide personalized solutions to its customers. All this has led to the formation of the alternative financing industry.
Debitum is a platform that is aimed at decentralizing the process of financing by bringing lenders, borrowers, insurers, risk accessors, and every party associated with the financing and credit industry on a single platform.
The platform of Debitum is backed by Ethereum Blockchain. The core of this platform is supported by the smart contracts, particularly the codes that are implemented as per the terms agreed upon without the requirement of any third party.
Debitum acts as a non-centralized platform for parties across the globe to take part in every step of the financing procedure. Therefore, it reduces costs and increases the level of efficiency. The Debitum platform not only provides the options for financing, but it also offers opportunities to the business organizations so that they can make an entry into the global market without any trouble.
The main purpose of the Debitum platform is to offer an access to the finances, which was not possible earlier because of the outdated systems existing in the industry of finance. It is very easy for the first time users to use the network of Debitum. Users should not be worried about the procedure as it is just a few clicks away from getting completed. Debitum makes use of the DEB tokens as a way for investors to get an access to the services on the network, like purchasing insurance, risk assessments, and debt collection.
The team of Debitum is well aware that it is important to have trust in the procedure of financing. This is why a system of trust rating has been consolidated into its platform. Every transaction on this platform is linked to the smart contract, which affects the trust rating of the party based on the outcome.
It is going to create a healthy environment for the users as the parties of low quality get avoided and removed from the community naturally. In order to offer services, which are not less satisfactory in the beginning, they need to freeze a particular number of tokens. If you are interested to get more details, then read its whitepaper.
