What is Sentinel Chain?
The Sentinel Chain is a B2B marketplace specifically designed to provide affordable and secure financial services to the unbanked.
Current problem for unbanked sector:
I am very much impressed about the project.The reason being they are targetting a very niche problem of addressing the financial inclusion of farmers of various countries through collateralization of their livestock.
In the current situation, it is not effective providing loans on the collateral of cattle because there is no possibility of checking the ownership of the cattle and it is tough to monitor the cattle and provide a loan based on that.
The solution:
Sentinel chain creates a platform where farmers can get microfinance hedging their livestock through local financing companies.
Crossborder crowdfunding is made possible through the power of blockchain.
Sentinel chain blockchain platform facilitates the livestock owners to get their cattle get insured and maintain their health records of the cattle in blockchain in a much hassle free way.
Currently getting the cattle insured is a tough task.Sentinel chain makes it easier through its local insurance partners.
Loans
After the cattle are insured there comes the big responsibility of their getting the farmers the much-required loan.It is done with the help of partnering with local financing companies who know the local co-operation much better.
Sentinel chain does a due diligence in choosing these partners who understand the local co-operatives and lifestyle and financial situation of this marketplace.
Collateral:
Sentinel Chain also enables the local financial companies to use this collateral data to get loans from international financing companies
Crowdfunding:
Around the world, there are more like-minded communities and people who would like to fund this process.Sentinel chain enables the peer-peer lending through the usage of the blockchain.This crowdfunding is accessed by the local financing companies first and they use this funds to distribute among the local farmers who look for loan.
Community projects:
Apart from livestock collateralized loans, sentinel chain technology platform can be used to receive international crowdfunding local community development projects like humanitarian aid or disaster relief.
E-payments:
Using CrossPay Blockchain, token holders can make electronic payments to local merchants using the tokens
Sentinel chain ICO:
To make this happen sentinel chain is organising an ICO. Presale has got over and crowdsale awaited.
Here is the roadmap:
Execution & RoadMap
Q3
2017
Stage 1
Early Supporters Sale
Signed an MOU with Maybank to collaborate on financial inclusion technology projects in the ASEAN region
Q4
2017
Stage 2
CrossPay Blockchain trial with TS Group for migrant workers dormitory in Singapore
Signed an MOU for CrossPay partnership with CloudWell Ltd. -the national payment provider to Milk Vita (Bangladesh Milk Producer's Co-Operative Union Ltd)
Q1
2018
Stage 3
JAN: Pre-Sale begins
FEB: Token Sale Whitelist Registration
Pre-Sale ends
MAR: Public Token Sale
Q2
2018
Stage 4
SENC to be listed and traded on various token exchanges
Beta testing of Sentinel Chain
Q4
2018
Stage 5
CrossPay will go live in the first unbanked market
Q1
2019
Stage 6
Sentinel Chain code review and audit
Sentinel Chain v1.0 will go live
Onboarding of the first financial service provider partner
Q2
2019
Stage 7
Integration of Sentinel Chain to CrossPay
Integration of financial service provider to Sentinel Chain
Q3
2019
Stage 8
End-to-end testing of Sentinel Chain
Q4
2019
Stage 9
Sentinel Chain v2.0 will go live
Upcoming crowdsale and token details:
SENC ICO Tokens
Total Supply: 500 million SENC Tokens
Pre-Sale: 100 million SENC Tokens
Total Funds successfully raised from Pre-Sale: 6.4 million USD
SENC Token bonus: 25%
Release Date: First 25% will be released 3 days before they are listed on the exchanges. The remaining number of Tokens will be released in equal portions of 25% over the subsequent 3 months.
Public Sale*: 100 million SENC Tokens
Total Funds to be raised from Public Sale: 8 million USD
SENC Token bonus: 0%
Release Date: 3 days before they are listed on the exchanges
Hard Cap: 14.4 million USD
SENC:ETH peg for Hard Cap Valuation: 26th February at 00:00 GMT
KYC Registration Date: 5th February at 00:00 GMT
How to participate in crowdsale :
https://medium.com/sentinelchain/a-token-distribution-to-empower-the-unbanked-economy-c9b987be0335
You can join their telegram channel for knowing latest updates and information
@sentinel_ANN
Telegram chat: @sentinelchain
Whitelist Start February 5th
Why sentinel chain ico :
They are making great progress even before the start of their ico.
They have a simple android mobile app where farmers & Insurance companies can exchange data using multisignature.
you can see how the mobile app works.
Market potential:
To make you understand how big the market is I would like to give one small example which the CEO shared in his AMA with ohheymatty video call
They are currently focusing on Myanmar and Bangladesh to start with and the cattle in Myanmar is around 15 million and in Bangladesh, it is 17 million.
If a cattle get a loan of around 300-500 dollars based on their age,health ,weight,milking capacity ,then making a lending profit of around 20-30% of the loan got you can calcualte the market cap sentinel chain can get over the months and years when they scale the model. This is just one way of monetization and there are many ways the platform can be monetized.
They have right partnerships to start with.They have recently partnered with the Insurance provider and local finance provider who can give loans to farmers with livestock collateral.
Check the partnership post here
Apart from this they have a huge partnership with Vechain ,one of the top companies in the finanancial sectors in blockchain space.
See the details here
More details can be had their website and social channels:
Website: https://sentinel-chain.org
Medium: https://medium.com/sentinelchain
Telegram: https://t.me/sentinelchain
Announcements: https://t.me/sentinel_ANN
About the Author:
Mohammed Lukmon,Crypto lover.
you can also follow my twitter for my top ico posts
https://twitter.com/itsmelukmon
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STOPLukman Bhai welcome to Steemers family
These people are not unbanked - there is Myanmar agricultural development bank and they can use farmland and machinery as collateral.