MERKLETREE LABS PRIVATE LIMITED

In their own words

Today almost in all developed & developing nations, there are the large group of Financial Institutions and Insurance providers providing their services in exchange of trust. As an individual one cannot trust another because the claims are not accurate. So these people will work as financia linstitutions, and these intermediaries charge 10%-30% as their fee. We are developing a Fintech platform based on blockchain for community lending and insurance which takes the place of the intermediaries and brings down the cost of lending. By using Blockchain technology, individuals from different communities across the globe can help themselves for all their insurance and banking needs without paying any fees to intermediate companies and thus the benefits are passed on to the members of community in the form of low borrowing rates, ROI's above the local PLR's . The financial assets are backed by currency tokens on ethereum blockchain which will be pegged to a local fiat currency INR/USD/etc which will not fluctuate unlike other crypto currencies This will be blockchain based ROSCA is abbreviated as Rotating, Savings and Credit Associations. It is used with different names in all different parts of the world, for instance in India, it is referred as "Chit Funds" and in South Africa, it is called as Stockvel.An important source of finance for small businesses & low-income households in India,Africa & South America and is considered as important financial inclusion tool for the those who dont have access to banking and credit history or rating.

Written by the company on its public Startup India profile. Not verified by us.