The Authentics Token Economy uses encrypted IoT technology to democratize foreign lending. Authentics’ mission is to eradicate extreme poverty by making foreign lending effective, accessible, and profitable for all participants.
Foreign aid is ripe for disruption. The average loan value from non-governmental organizations (NGOs) like the World Bank and Asian Development Bank has grown to $294 million over the past 5 years. At the same time, millions of small-to-medium enterprises (SMEs) require loans of $500 thousand or less. Investment in capital equipment is desperately needed for infrastructure and commercial projects, but the lack of security, automation, and data makes lending inaccessible. As a result, hundreds of billions of dollars in budgeted aid goes undistributed each year.
The Authentics Token Economy leverages blockchain and IoT to close the global investment gap. Authentics ties loans to securitized assets via patented, encrypted IoT technology, then automates payments through AUTX tokens. The result is a lending platform that is secure, automated and transparent, reducing the average loan size by orders of magnitude and facilitating fairer and more direct transactions.
Authentics is powered by Vitro Technology, whose patented, revolutionary platform allows customers to control and monitor remote sensors and equipment (e.g., water wells, meters, solar panels, electronic billboards) with authenticated operating data and automated transaction processing.
Vitro developed an open-source Edge-to-Cloud platform, including hardware that directly incorporates Elyptic-Curve Cryptography key generation (ECC) and communications based on OpenSSL with a Root of Trust specifically designed for IoT. The result is a secure path for the transfer of data from sensors to cloud IoT that takes advantage of the latest innovations in lowered costs and low-bandwidth communications.
Vitro incorporates an innovation that hashes data at the Edge, building data into blocks that include Proof of Origin: a trustless, non-consensus-based algorithm leveraging secure hardware ECC crypto at the Edge. The result is a hardware platform that has qualified for Amazon's AWS highest security rating (HSI) and DigiCert PKI best-practices.
Vitro's technologies have been functioning on the global market for two years, delivering advanced insight and solving problems with IoT device connections in various vertical markets. Installations range from the U.S. to Pakistan, from China to Poland.
Good for NGOs, Good for SMEs
Authentics DAO framework is the cornerstone of the Authentics lending philosophy. DAO are voting rights consisting of Dharma and Karma. Dharma is distributed to investors at the beginning of the loan, while Karma is transferred to local participants as the loan is repaid. With Authentics, SMEs are empowered with equity and voting rights early in the loan lifecycle.
Launch AUTX IEO. For more information on the Authentics Token Economy, read our White Paper
Build a demand pipeline of international SMEs looking for funding.
Partner with 3-5 key NGOs.
Initiate 5+ international loans through the Authentics Token Economy.
Funds raised during the IEO will be allocated for business and platform development as well as operational and marketing activities to develop our SME pipeline. We are allocation 15% for business development, 25% for marketing activities, 50% for operational activities, 10% for research and development.