Hero — Promoting Financial Inclusion, Transparency, and Efficiency for the Unbanked

 

Mission and Vision

Hero’s  mission is to revolutionize the banking industry to make credit more  readily available and affordable for the unbanked or underbanked  starting in Southeast Asia.

Since  2015, we’ve helped thousands of Filipinos access short-term credit and  that number is growing fast. As a pioneer in online lending in Southeast  Asia, we have become one of the most distinguished Fintech startups to  disrupt the highly entrenched, multi-billion dollar lending industry.  Through our platform, we are already providing a revolutionary solution  to a significant problem among the unbanked and underbanked across  emerging markets. Headquartered in Singapore, we fully operate online  with no branch infrastructure, allowing us to keep operating costs low  and to stay focused on our customers. We are transforming lending into a  frictionless, transparent, and highly efficient digital experience for  Southeast Asia.

Our  vision is to disrupt the current financial system that excludes 2  billion people from the banking system by leveraging technology to  create a more inclusive system that allows people access to credit.  

 

What is Hero?

Hero  is the future of banking that provides collateralized loans to the  unbanked and underbanked consumer across Southeast Asia. With the launch  of its crypto-currency unit called Hero Token, HERO intends to expand  into blockchain-based uncollateralized loans. Backed by venture  capitalists such as Softbank, Alibaba and 500 Startups, the organization  started operating in the Philippines in 2015 and has since helped  thousands of Filipinos to obtain access to affordable credit.

What is a Hero Token?

Hero  has been created to make both financial return and positive social  impact. A Hero token represents the right to receive a reward, which is  part of the interest income earned. It does not represent equity in the  company nor have any intrinsic value. All tokens in aggregate will have  the right to receive up to 20% of interest income.

Hero, The PawnShop:

 It is a  digital platform designed to impart credit grants, without economic  biases. The lack of access to primary financial services has given place  to major barriers for the people to overcome poverty by making it  almost impossible for them to borrow or save money. Savings and lending  are the two pillars of the modern society, serving as both fuel for  funding economic boost and funds in times of financial crisis; former  being the capital, and the latter being the credit.Both  national and local economies are influenced by the easy flow of  capital. Access to credit is a crucial factor responsible for the growth  of any economy. Hero is an enterprise that started with the aim of  making credit smoothly available and relatively economical, to outreach  the unbanked and under banked community. It is an e-Platform created to  allow credit grants, without partiality. 

The project started out in  Southeast Asia, with the further plan of expanding and growing. . The  plan is to delve in this market and develop a system where credit and  loans could be granted to the masses.Hero  Pawnshop uses blockchain technology which liberates many financial  services breaking through the old institutions, fostering competition  and innovation to provide improved, quick, and economical financial  services to those who are outside or heavily burdened by their local and  formal financial systems. Their vision is to renovate the current  financial system that excludes 2 billion people from the banking system  by leveraging technology to create a more intact system that permits  people access to credit. 

 

How It Works

Pawnshop in Everybody’s Pocket

PawnHero  disrupts the traditional pawnshop experience by providing a hybrid  virtual and physical service. The PawnHero operating platform (“Opus”)  combines a seamless frontend customer experience with backend  operational processes allowing PawnHero to manage and control the  customer experience and the business.

The  customer submits item information (“Requests”) at pawnhero.ph through  their phone or desktop computer. After the customer submits their item  details through a series of drop down menus, Opus links the request to  our Magnus Loan pricing model which instantly delivers several loan  offers with different loan maturities to the customer. The customer then  selects their preferred loan offer and is guided through Customer  Information, Payment Method, and Delivery modules.

Opus  then arranges for a PawnHero motorbike courier (“PawnTrooper”) to pick  up the item from the customer’s home at no charge to the customer. At  the time of pickup, the PawnTrooper completes the legally required Know  Your Customer (KYC) procedures, issues a pawn ticket to the customer,  and receives the item for delivery to our Operations Center.At  the Operations Center, our expert appraisers authenticate the item and  assess the condition of the item. 

If the item authenticity is confirmed  and the condition of the item is as represented in the Request, then the  loan is released through Opus to the preferred pay-out option selected  by the customer. If the item inauthentic, then the item is returned to  the customer and the customer is charged a 100 pesos (USD 2) delivery  fee. If the item is authentic but not in the condition represented in  the Request, then the appraiser estimates the revised value of the item  and Opus delivers a new loan offer via SMS and email to the customer. If  the customer accepts the revised offer, then the loan is released  through Opus to the preferred pay-out option selected by the customer.  If the customer declines the revised offer, then the item is returned to  the customer at no charge to the customer.PawnHero  stores the pledged items at the Operations Center in a secure and  environmentally controlled centralized vault. Opus tracks the movement  of the pledged items throughout the process until the items is either  returned to the customer upon redemption by a PawnTrooper or the item is  sold.

Upon  or prior to the maturity date of the loan, the customer may, through  various payment options, make the loan redemption payment or apply for a  loan renewal. If the customer fails to redeem or renew prior to the  maturity date, then the loan enters a legally required notice period of  between 1 month for electronics and up to 3 months for non-depreciable  items. Upon the completion of the notice period, if the customer has not  made the required redemption and payment of additional interest due,  then Opus completes the legally required public notice and auction  process and then makes the item available for sale in our marketplace. 

 PawnHero  offers multiple payment options for the loan release (“Pay Out”) and the  loan redemption and/or loan renewal (“Pay In”). Primary payment  partners include Paynamics, which offers multiple over the counter  transactions at banks nationwide, and Pay In and Pay Out at various  retail locations including leading convenience stores such as 7/11 and  other retail locations across the Philippines. We partnered also with a  blockchain-enabled platform that enables anyone, including those without  bank accounts, to easily access financial services directly from their  phone. Using Coins, customers have access to a mobile wallet and  services such as remittances,
air-time, bill payments, and online  shopping at over 100,000 merchants who accept digital currency. Another  option includes cardless ATM withdrawal. PawnHero continues to add Pay  Out and Pay In options with leading Philippines companies in the  banking, money transfer, e-wallet, digital money, and retail processing  location businesses.

Hero ICO 

 HERO  total supply 250,000 Ethereum (ETH) worth of Hero Tokens (equivalent to  50,000,000 Hero Tokens). The final number of Hero tokens is defined  after the end of the token sale based on amounts contributed.

Token Distribution
Hero  Tokens are created and given to buyers as soon as they give ethers to  the sale contract. Trading and transferability only starts after the end  of the token sale. From a practical point of view, this achieves the  same thing as not giving the tokens until after the sale. But from a  technical standpoint, we avoid the problem of the token handout at the  end of the sale from running into the gas limit. 

 1 HERO token is equal to 0.005 ETH (1 ETH will buy 200 Hero tokens)

Accepted Cryptocurrencies
Ethereum (ETH), ETH Classic, BitCoin (BTC), Ripple, LiteCoin, Waves

Token structure
Hero  present earning opportunities to those who hold Hero tokens.  Individuals earn real rewards that are directly correlated to their  contributions. Those rewards will have dollar value and are liquid. 

 THE TOKEN SALE START

You may join our Slack https://herotoken.herokuapp.com, subscribe to our newsletter or email tokensale@herotoken.io to receive the latest updates.HERO  tokens provide other facilities for those who are committed early on.  Extra tokens are offered to those who commit early. Please see the table  below for the bonus token schedule. 

 

Details Information

Website : https://herotoken.io/

Whitepaper : https://s3-ap-southeast-1.amazonaws.com/herotoken/Hero+Whitepaper_081417.pdf

ANN : https://bitcointalk.org/index.php?topic=2088817

Telegram : https://t.me/herotokensale