EthicHub – Blockchain Based Crowd-Lending for Investing in Small Profitable Farmers Around the World
Crowdsale: September, 2018
EthicHub Progress Updates, Budget & Timeline:
Current Bounties / Airdrops
Meet the core EthicHub team & advisors
Co-Founder and CEO
Raul Martinez Fernandez
Co-founder and CTO
My career has been a path of constant learning: new skills, technologies, programming languages or justanswering the question “how can we make this happen?” Thankfully I have been part of great teams andwith them, their support and mentorship plus hard work I feel very confortable working in this fast pace…
Marketing & Operations
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EthicHub Expert Evaluation:
Written by: Jake Sedlock
CMO at a Blockchain Community Engagement Agency, building a following for new ICOs. Jake’s patience and cunning allow him to build connections in the market and put him in a class above the rest. His ability to process and decipher technical problems and his keen, adaptive abilities allow him to thrive in every aspect of his career. Jake has built relationships, created partnerships and structured plans to introduce many projects to the world. Jake is an irreplaceable asset to any company, and a key-player in his field.
EthicHub aims to make, financial credit and investment opportunities available to everyone in the world and where financing small farmers becomes a profitable investment.
When I first saw the name EthicHub I thought , oh great another humanitarian ICO that is going to be better suited as a charity, however after only a few minutes into the ICO’s Whitepaper I started to realize that there is more to EthicHub than I expected. I was pleasantly surprised, the second time this year, by another ICO that also has a positive social impact.
The Whitepaper reads:
‘’We are quite aware of the enormous responsibility we acquired by choosing this name for our project because it represents our declaration of intentions: We humbly make the commitment to strive every day to improve as individuals, as human beings, and to promote the adoption of collective values that improve our relationships. We are convinced ethics main values: justice, responsibility, integrity, respect, honesty, equity, are the basis of constructive relationships. Our goal is to prove that compliance with these values generates material benefits too, by acknowledging reputation and trust as an asset”.
Product and problem it solves
8 out of 10
The world faces many issues, one of them is that there are 1.7 billion adults that are un-banked, in other words, have no access to a traditional banking system and that includes a credit score. By promoting financial inclusion, EthicHub is aiming to capitalise on this enormous market and provide a lower interest rate through the use of a blockchain platform.
This problem seems to be the focus of several ICO’s. EthicHub however seems to have the only viable solution promoting a way for investors to see some safety and returns compared to a lot of high risk p2p ICO’s out there.
EthicHub gives people the opportunity to invest in profitable agricultural projects that aren’t accessible via the traditional banking and investment markets. They have a strategic plan in place for opening up this market.
Market and competitors landscape
9 out of 10
EthicHub has the support of experts with experience in lending which is the current fashion and how things are done. Now I wondered why would a team member go from the current huge profits of 120% interest that farmers are sometimes charged, to join a project such as the EthicHub project which offers a cheaper, low profit solution.
I reached out to Co-Founder, Jori Armbruster for answers and he stated that “if you find a system that allows you to get 120% and you don’t mind about the impact your money has on others, then go for it. We propose a fair distribution, higher returns for investors, compared to an equivalent risk in their country and lower interest for the borrowers compared to the local cash loan rates”.
Technology, smart contract and blockchain use
6 out of 10
I have provided a general idea within this section however I leave the technology to the pros.
Token symbol: ETHIX
ETHIX: ERC20 compatible
Max Minted: 100,000,000
Number of sales: 3 sales Q1
Hard Cap: 2000ETH
P2P money is when funds go straight from lenders to borrowers via smart contracts, without intermediaries.
Only in success fees- Platform fees are charged only at the time of repayment. There is a ‘Guarantee Fund’ for Investors
In case of default- the ‘Guarantee Fund’ purchases investors credit rights in exchange of the principal amount, allowing for an ethical recovery of the debt.
The long term goals are that ETHIX is accepted as means of payment within the rural communities receiving the loans, thereby helping them to reduce the problems that are derived from handling money.
EthicHub plans on running a pre-sale and then 3 public sales one a year starting this year in 2018, I have concerns about this model as there wasn’t any clear layout of the token distribution and allocation. This information my change my rating here, but for now I am sticking with an optimistic rating of 6/10.
Token use case and potential
7 out of 10
In a nutshell EthicHub is a P2P lending platform. They give investors a way to offer farmers loans at a lower interest rate than they could get by the current methods because they do not have any banking or credit score. The normal way a farmer gets an investment is by using their crops as backing for an extremely high rate. They state 120% is sometimes what they pay in interest and although this seems extreme, this is reality from the research I have done.
Team and ICO details
8 out of 10
EthicHub says- ‘as producers, buyers and financial intermediaries of agricultural production in rural areas of Mexico, we have strong field contacts and first-hand experience’. I dug deeper to find out the reality and was pleasantly surprised because their team truly is a plethora of experience and knowledge.
You can see on their website all the team members. I have not had an opportunity to look into the team as much as I would like, but I did get a chance to look into the Co-Founder and CEO Jori Armbruster. Jori greeted me and was more than happy to answer any questions or concerns that I may have had. I truly think that if the rest of the team is as great as their CEO seems to be, they are a more than qualified to lead the project to success.
Now I ran into a few snags looking into the rest of the team but that’s because Spanish is not my strong suit aside from a mumbled and most likely incorrect- “Uno mas Cerveza senorita” Otherwise I feel confident to give them 8 maybe less/more if i could inspect the rest of the team’s profiles if they were written in English.
My final thought is that the name EthicHub is undesirable. Although I understand the name and purpose, I still disagree with the choice of brand name.
Overall I think that EthicHub Is one ICO to keep an eye on in the coming years. It doesn’t seem to be a fast mover but if you have your eyes on the long term (HODL) then you will be happy with this ICO.
As the world moves towards a more equitable distribution of wealth, it is envisaged that those that somehow manage in poverty, will have options for a better future.
7.6 out of 10