Reditus (ITCO) ICO - Tokenized Bonds Blockchain Platform



  • The Reditus® platform is an advanced platform for trading, investing, and collecting receivables. It increases the
    likelihood of recovering Non-Performing Loans (NPLs) and sunken small receivables which are socially costly. Reditus®
    democratizes receivables through a sustained model of utility token ownership. This is achieved with the Reditus® RMS
    (Receivable Management System), which enables the assessment and collection of receivables, and a trading system
    through the tokenization of outstanding receivables.

    NPLs, which are inevitable to manage the financial soundness of financial institutions, are an investment instrument that
    can achieve relatively stable returns depending on the efforts to collect receivables and collateral process. However, since
    certain requirements must be met to acquire NPLs in accordance with the law, individuals are less likely to directly
    participate in NPL investment. Although asset management companies that can acquire NPLs are launching NPL fund
    instruments through which individuals can participate in investments, still, not everyone can do so since it also requires a
    large amount of minimum investment.

    On the other hand, for small cash loans made between acquaintances without setting up a repayment schedule or
    interest, and for credits payments that occur frequently with regular customers, etc., creditors often suffer due to poor
    performing debtors, who are obligated to pay off the debts but delay payment intentionally or unintentionally.

    The everyday investor finds it difficult to engage in relatively attractive NPL investment opportunities and are always exposed to the risk of financial losses due to unexpected delays in the collection process. To remedy this, Reditus® aspires to disintermediate the current process and create a more conducive environment for everyday investors to partake in this sphere.

    The Reditus® platform uses blockchain technology to tokenize receivables, achieving an end-to-end, blockchain-based platform that enables network participants to source, hold, and trade receivables in a secure, easy, inexpensive, transparent, and accessible way. This makes it possible for smaller sized investments and creates the opportunity for mass market participation. The use of Smart Contacts to document small cash loan and credit transactions securely and conveniently will provide a basis for creditors to collect personal loans or account receivables effectively with ease.

    BUSINESS OVERVIEW

    COMPANY BACKGROUND

    Seven TechNet Loan Inc., the parent company of Reditus, develops finance, payment and logistics solutions
    based on IT technologies, and provides solutions to more than 500 corporate customers. The company’s
    affiliates include Consumer Finance Inc., Clover Seven Inc., and Energy Seven Inc., all of which are fintech
    companies that integrate their business models with professional financial expertise, and provide
    professional financial services to small and medium-sized businesses.
    In 2011, the company developed a passcard issuance system based on facial recognition technology and
    provided services to SK Telecom. It developed a money-in-custody management system for the correctional
    services headquarters under the Ministry of Justice, and operated the system at national correctional facilities.
    In 2013, the company provided overseas credit card sales settlement and payment proxy services. It carried
    out social contribution programs such as a web and mobile donation campaign called ‘The Miracle of Clover’
    in 2013, in order to contribute campaign revenues to the children’s foundation, thus spreading donation
    culture.
    In 2015, the company established a fintech company, Energy Seven Inc., and developed an oil platform
    application based on ICT technology that enables integrated operations with O2O gas station service. The oil
    platform application allows the real-time group purchase of oil, order and delivery status check, and sales and
    inventory status check on smartphones.

    REDITUS® VALUE PROPOSITION

    Through the above solutions, Reditus® proposes the following values:


    REDITUS® PROPOSAL

    The mentioned solutions and values Reditus® propose in response to the market challenges will be
    reflected on the Reditus® platform with the use of blockchain technology, and will be completed
    through the development, operation, and advancement of the Reditus® ecosystem.
    To operate the ecosystem, Reditus® will register and tokenize receivables, issue tokens based on
    the receivable collection process, and collect a fee for the process of receivables transactions. The
    processing fee will be paid through the Reditus® IT Coins, a utility token provided by the Reditus®
    platform.
    In accordance with the design of the Reditus® Token Economy and Allocation, some of Reditus® IT
    Coins will be allocated for investors during the sale and some will be kept for the continued
    operation of the Reditus® ecosystem. This reserve can be used as an adjustment tool to prevent
    abnormal inflation or deflation, such as sudden price fluctuations of Reditus® IT Coins caused by
    abnormal external factors.
    In addition, the funds raised for Reditus® IT Coins will be used for the continuous development and
    initial operation of the Reditus® platform.

    REDITUS® SOLUTION




    REVENUE MODEL

    The Reditus® platform provides those who hold receivables, Reditus® RED Tokens, and
    Reditus® IT Coins, with the following services and charges fees accordingly:
    Listing of existing receivables on the Reditus® RMS
    New registration of receivables through the Reditus® RMS [1]
    Issuance of Reditus® IT Coins for the exchange with Reditus® RED Token
    Trade of Reditus® RED Token and Reditus® IT Coins through the Reditus® RED Token
    Market
    Cash withdrawal with Reditus® IT Coins

    REDITUS TOKEN ECOSYSTEM

    The figure illustrates how the RED Tokens and IT Coins are used in the
    Reditus® ecosystem based on the Reditus® platform.




    RED Token is issued by registering receivables for the Reditus® RMS.
    When receivables such as NPLs, general receivables, P2P (loan) and P2P
    (credit) are registered through the RMS, the collection rate is
    determined by the credit rating. When NPLs are registered, RED Token is
    issued based on the conditions during the registration process.
    A registration fee may not be charged in accordance with the
    requirements of receivables when using the Reditus® Creditor
    Application provided by the Reditus® platform.
    Reditus manages and maintains the Reditus® ecosystem to ensure that
    diverse forms of receivables are circulated in the Reditus® platform.
    Investors are free to trade their RED Tokens at the RED Token Market

    IT Coin is a utility token that gives the right to access the Reditus®
    platform and use the services provided by Reditus®.
    Used as a reward to incentivize good behavior of parties for their
    contribution to the ecosystem.
    IT Coin is an essential means of operating and maintaining the Reditus®
    platform.
    Allocated funds raised from the sale of IT Coins will be used for the
    continuous development and operation of the Reditus® platform.
    IT Coin aims to be listed on major external cryptocurrency exchanges.
    As the use of services provided based on the Reditus® platform
    increases, i.e. RED Token registrations and transactions are increased,
    more IT Coins are traded, and this will therefore increase the volume of
    IT Coin transactions.

    Maintaining Reditus® RED Tokens and IT Coins

    RED Token

    The lucrativeness of RED Token is coupled with that of
    receivables. That is, details provided when registering
    receivables for the Reditus® RMS is a core factor that
    determines the RED Token rating.
    Reditus® RMS allows investors to make an informed judgment
    by providing them with details on the registered receivables.
    RED Token that has been fully collected or met its contractual
    end will be returned to Reditus® RMS and burned after
    settlement.

    IT Coin

    The demand for IT Coins, needed to use the services offered by
    the Reditus® platform, increases as more people use the
    services provided by Reditus®.
    IT Coins are used to exchange for RED Tokens through the RED
    Token Market.
    RED Token is issued when receivables are registered through
    the RMS. The more lucrative the RED Token is, the more IT
    Coins will be needed to exchange for the RED Token.
    Reditus® will utilize IT Coins, that is allocated to Reditus® (as
    shown in token allocation), for stable operation and
    development of the Reditus® ecosystem, to mitigate the steep
    fluctuation of IT Coins caused by exogenous variables.

    Reditus® RMS (Receivables Management System)

    The following receivables are registered for the Reditus® RMS:
    NPL (Non-performing Loan):
    Receivables that Reditus® purchases
    General Receivables:
    Uncollected receivables owned by organizations or individuals
    P2P Receivables:
    Receivables generated by personal loans or equivalent credit transactions
    Once receivables are registered, RMS issues RED Token that corresponds to the value of
    receivables, deducting receivable collection fees determined by the characteristics of
    receivables.


    Reditus® RED Token Market

    This is where RED Token issued through RMS is traded, and RED Token transactions are
    conducted in IT Coins.


    Reditus® RMS Voting System

    Issuer registers receivables through the Reditus® RMS.
    Partial allocation of the receivable is allocated to Reditus® as a form
    of registration fee.
    The receivable is evaluated by Reditus® as per default or by
    external Credit rating agencies part of the ecosystem.
    The receivable is tokenized to a unique REDT based on
    characteristics of the contract and rating conducted and is divisible
    to a set number of Tokens.
    The REDT registrant or issuer will determine the percentage of REDT
    to go through the RMS Voting System or straight listing onto
    Reditus RED Token Market during registration.
    Investors are able to have initial ownership or partial ownership of
    REDT by staking ITCO.
    The remaining REDT are listed on the Reditus RED Token Market.
    Investors can then choose to trade or re-list their REDT back onto
    the Reditus RED Token Market for ITCO when desired or hold the
    REDT and be compensated throughout the collection process.

    Staking ITCO

    Reditus® believes that having a staking mechanism is imperative to maintaining a healthy
    ecosystem. Staking acts as a barrier for malicious actors and safeguards the integrity of the
    Reditus® Platform. Service providers must stake ITCO to register their services; this requires one to
    have a stake in the platform’s long-term success in order to operate on the network, aligning their
    incentives with long-term network value creation.
    There are two types of user category that will stake ITCO, one is the investors, and the other are the
    service providers.
    Investors stake ITCO in order to indicate interest in purchasing an offering with an initial
    ownership/part-ownership of REDT.
    To secure their allocation, investors have to stake in proportion to the amount of REDT
    they wish to purchase in each offering. In the event where REDT are fully allocated and
    there is a surplus of investors, the allocation are awarded according to the stakes, and
    unused ITCO, after purchasing the REDT, will be refunded to investors.
    Service providers such as external credit rating providers or debt collectors are required
    to stake ITCO to access the ecosystem.
    Prior to performing a particular assigned job or work, the service provider is required to
    stake ITCO. The amount of ITCO required will be determined based on the scale of the
    work to be done. These staked ITCO will be locked as a guarantee against any potential
    misbehavior. The service providers will be able to unlocked their staked ITCO after
    completing the work.
    When the offerer of services has a financial incentive to maintain the integrity of those
    services, they are far less likely to perform malicious acts within the ecosystem.


    Reditus® Dual Token System





    Token Sale Details

    The IT Coin sale will be conducted on the Ethereum blockchain. IT Coin (ticker symbol: ITCO) will
    be sold as an ERC20 token. Once Reditus® RMS (Receivables Management System) has been
    deployed, Reditus® RED Token (ticker symbol: REDT) will be exchangeable with IT Coin.
    Participation in the Pre-sale and Public sale shall be limited to individuals with each wallet cleared
    pursuant Know-Your-Customer (KYC) checks. KYC checks include proof of identity and residency.







    ROADMAP













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