About JoosToken
Overview of JOOS
Simply put JOOS is the worlds fastest, most cost effective debt collection solution. Not only can you register and have your debt monitored autonomously, but your entire debt collection solution is automated across a global audience of incentivised digital debt collectors to expedite and optimise successful account remedy solutions.
Technology and Process
Simple – Using an immutable distributed ledger and with the help of “validators” your debtors list is verified and data integrity is maintained. At the event of default – 1st and 2nd follow ups are automated mail outs and sms. Third response sets off the social debt collection response. Details of the debt and a bounty are sent out to the network. “collectors” then work using digital and social pressure to remedy account discrepancies.
Challenges in Debt Collection
Delinquent debtors place unnecessary pressure on your person or business threatening capital base and sustainability. The current legal system is highly favourable to bad borrowers with wrist slapping penalties that do little to deter bad loan behaviour. The debt collection landscape is aggressive and expensive taking time to yield results and costing you upwards of 50% of your total collection account.
Vision for the Future
By consolidating the worlds debts and claims under one open source, transparent, distributed ledger, JOOS will create a fair, efficient and honest new lending marketplace. We hope to become the worlds trusted axial for both borrowers and lenders.