Peer-to-Peer (P2P) lending is gaining momentum worldwide especially in Asia Pacific, Americas and Europe.

However, looking at the current limitations in the P2P lending landscape, one may conclude that there is no single platform that will be able to bring personal financing worldwide, has a fair global rate for borrowers, safety nets to protect lenders and a compensation fund.

All that is about to change with iP2PGlobal Personal Financing Platform (iP2PGlobal).

Whilst the current P2P lending has proven to be a good alternative for the unbanked and under-banked population in many situations, there are still areas that can be improved on. The main concern is that borrowers and lenders are primarily located in the same country and not worldwide, thus limiting the borrowers’ access to lenders. Secondly, financing details and payments are managed by a platform provider rather than on an open visible platform.

With the latest technology advancement in smart contracts development and the high security and transparency of de-centralised network due to blockchain technology, iP2PGlobal has been formed to cut through red tapes and time to reach a far wider market as well as improve the distribution of capital on a single worldwide platform.

James Loy

“After conducting meticulous research to study the current P2P lending landscape, we have identified several gaps in it that we strongly believe should be addressed to make personal financing accessible to all.

“This pressed the importance to us in creating iP2PGlobal to fill the void and to create a single platform that would be a game changer in personal financing,”

said James Loy, iP2PGlobal Management Team’s CEO.

Another unique highlight of iP2PGlobal is that the financing products offered are based on sharia principles.

Although sharia financing products are sought after by Muslims, non-Muslims will also be attracted to what the platform has to offer.

Sharia finance principles are closely related to ethical values of fairness, equality and morality in finance, which resonates with everyone, no matter their religion and creed.

According to an article in CNBC, Islamic financing was traditionally dominated by Muslim-majority countries in the Middle East and Southeast Asia but issuance of Islamic debt by non-Muslim countries was set to climb to a three-year high last year.

Two financing products, which are unsecured and secured personal financing products based on Tawarruq contracts, will be initially be offered at the platform.

“We are kick-starting the platform with two financing products, which are unsecured personal financing) and secured personal financing.

“Both are based on Tawarruq sharia finance principles,”

he said.

He explained that Tawarruq is the mode which most sharia banks worldwide provide personal financing, to facilitate the supply of cash to their customers.

It is a mode of finance that consists of two sale and purchase contracts.

The first involves the sale of an asset to a purchaser on a deferred basis and the subsequent sale involves sale of the asset to a third party on a cash basis.

As for secured personal financing, borrowers can provide additional security to a Tawarruq transaction through collaterals such as Bitcoin, ETH, Bitcoin Cash, Ripple, Dash and Litecoin.

TWQ Token Pre-ICO is ongoing 

iP2PGlobal Personal Financing Platform is offering a total 155,000,000 TWQ tokens for subscription for its pre-ICO, starting from 19th February, 2018 (OO:OO UTC) to 13th May, 2018  (23:59 UTC).

Different bonuses are offered at different stages of the pre-ICO, which is outlined in the whitepaper as set out in ip2pglobal.io

The TWQ (Tawarruq) is an ERC20 token that confer the right to the token holder to submit an application for a personal financing based on a Commodity Tawarruq Trading program, through the iP2PGlobal platform and have it listed in the platform for prospective lenders to view and choose to finance.

The TWQ Token is a pure utility token and does or will not provide any other rights and functions to its holders.

Meanwhile, the ICO crowdsale starts on 14 May, 2018 (00:00 UTC) and ends on 8 July, 2018 (23:59 UTC).

The price being offered for the tokens is 0.0002 ETH for 1 TWQ during pre-ICO and ICO crowdsales.

For even better perks, large purchase bonus for individual subscriptions above 50ETH will be entitled to a 10% additional TWQ tokens.

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Please note this is no investment advice.