What Is Hero?
Hero is a company that is aiming to promote strong values such as financial inclusion, efficiency and transparency, beginning in Southeast Asia. They want credit to be made more readily available to people who are either underbanked or unbanked.
How Asia's Capital Market Banking Blockchain Platform Hero Works
Their capital market program aims to utilize blockchain technology, as well as smart contracts in order to create a system of different financial services marketplaces. This would cater for certain key projects beginning in the region of Southeast Asia as it will allow for the effortless transfer of cryptocurrencies both to and from fiat currencies.
This will subsequently means that both businesses and individuals in the region will then have access to capital, especially those who currently have no means to get this sort of capital from an efficient and transparent vendor.
If more people can get access to capital, then there will no doubt be more economic growth in these regions, as these funds will be used to startup businesses, as well as expand existing businesses, with money being pumped into the local economies as a result of the enhanced offerings of goods and services.
Blockchain technology holds the key for so many of society’s problems and lack of access to decent credit is one of them. Currently the sector is dominated by old institutions that put down competition and reject innovation a lot of the time when there could be services that are better, faster and cheaper than currently exists in our financial system. This is something that the Hero token is aiming to change.
The potential market in Southeast Asia is massive, with 600 million potential customers for them to target and it is the 4th fastest growing internet region in the world. The internet economy in the region is predicted to reach $200 billion by 2025 and currently there are more people who possess a Facebook account than a bank account in the region.
Hero has been working through their parent company PawnHero since 2015 to try and disrupt the way the current financial system operates. Currently there are more than 2 billion people across the world who are excluded, and this needs to change.
Hero Token ICO Details
The ICO pre-sale for the Hero token began on the 20th of November and it lasted for 24 hours. The subsequent token sale itself began on the 1st of February and it is set to last until the 28th of February or until the hard cap has been reached.
The token price during the sale has been set as 1 HERO token equaling 0.005 ETH. The soft cap of $5 million was already hit during their 24 hour pre-sale and their hard cap target has been set at 250,000 ETH, with any unsold tokens being burned.
They are currently accepting WAVES, XRP, ETC, BCC, BTC and ETH for this token sale and the tokens will being trading on the QRYPTOS exchange, beginning on the 9th of March, with further exchanges to follow in the near future.