Sentinel Chain: Collateralized Livestock RFID Tag Crypto Capital?
The Sentinel Chain is a B2B marketplace that seeks to give secure and affordable financial services to the unbanked. The platform accepts the use of livestock as collateral. The platform allows for the asset tokenization of livestock by creating a process that transforms livestock from dead-capital to an asset that has clear and transparent value.
The platform also provides a transparent and open marketplace that connects the unbanked to those who can give them finance. This is enabled by the use of the platform’s mobile application Cross Pay is a simple to use mobile interface built for Android and for the unbanked. In addition to being a wallet, it allows for asset tracking for the unbanked, provides financial services, provides an identity for the unbanked and it is ideal for the pockets of local ecosystems.
Sentinel Chain partners include Fenbushi capital a China-based venture capital firm that invests in blockchain enabled firms and iGlobal Partners that is a firm that invests in Singapore’s startup firms that aid development in the internet of things, health/ Biotech and Internet/ mobile applications.
Sentinel Chain Marketplace
The unbanked today do not have access to mechanisms that can unlock the economic potential of their livestock so that they can use them to secure, produce, and guarantee a greater value in the financial economy. More than 570 million stallholder farmers worldwide can benefit from a platform that unlocks the economic potential of their livestock as collateral to obtain loans.
The Sentinel Chain marketplace hopes to provide this service. Its features include:
Features of the Sentinel Chain
Livestock Identification Tag
The platform offers the RFID livestock identification tag that is both theft proof and tamper proof on both the data and material level.
CrossPay Mobile Application
A financial delivery mechanism that will be used with the CrossPay blockchain. Additionally, the app is a mobile wallet that will allow the unbanked quick access to their balances and enable them to transact with other merchants and users.
This blockchain technology is for the unbanked. It can be accessed using the CrossPay mobile app as it is operated and managed within a local geographical area.
Sentinel Chain Token SENC
The platform hopes to issue the sentinel chain token SENC which is an ERC20– compatible token. It will use the Etherium blockchain to allow financial providers and the digital currency holders to be part of the Sentinel Chain platform. The digital coin will be a means of exchange on the Sentinel Chain platform. SENC has the following features:
The token will allow insurance companies to publish livestock insurance details on the CrossPay blockchain based on livestock assets that will be verifiable on the CrossPay blockchain.
Financing companies will be able to publish their loan agreements on the CrossPay blockchain based on livestock collateral.
Local financing firms will use the tokens as collateral to borrow from overseas firms.
The sentinel chain platform will enable crowdfunding and can be a peer-to-peer platform used to give financing to local financing firms.
Overseas donors will use the Sentinel chain platform to fund community projects that deal with issues to do with disaster relief and humanitarian aid.
Token holders will be able to use the CrossPay blockchain for electronic payments service to the local merchants.