Suretly: A Token-Based Crowdvouching Lending System
The Suretly whitepaper was initiated and released by core team members Eugene Lobachev, Anna Paulova, and Svetlana Eydelman between July and August 2017. Its aim is to address the pain points individuals face in obtaining emergency loans in the traditional lending market by introducing the 'crowdvouching' model, while also providing new investment opportunities for investors.
The theme of Suretly's whitepaper revolves around its 'international crowdvouching platform' and the 'role of the SUR token.' What makes Suretly unique is its introduction of the core mechanism of 'crowdvouching,' where a large number of individuals (vouchers) collectively provide small guarantees for a loan, instead of a single entity providing a full guarantee. The SUR utility token, based on Ethereum and Waves blockchains, serves as the proof of guarantee. The significance of Suretly lies in offering users a new alternative investment option, while significantly reducing borrowing costs and barriers for borrowers and dispersing guarantee risk.
Suretly's original intention is to build an open and efficient international crowdvouching platform to solve the problem of individuals obtaining emergency loans and to provide profit opportunities for vouchers. The core viewpoint presented in the Suretly whitepaper is that by dispersing loan guarantee responsibilities among numerous vouchers and using the SUR utility token as the guarantee medium, it is possible to achieve effective risk sharing and rapid capital flow without the need for centralized intermediaries, thereby creating a fairer and more convenient financial service experience for both borrowers and lenders.