7Seconds is a fully operational credit marketplace that allows a borrower to instantly choose a loan with the best terms and interest rate. Loans are provided by partner banks within the 7Seconds ecosystem. The company actively uses artificial intelligence (AI) and neural networking technologies.
High interest rates charged by banks on loans hamper development of trade, economy, culture, and education across the globe. Banks do it to hedge against risks. An inefficient scoring system pushes up interest rates.
7Seconds takes on the task of purchasing information on borrowers from credit history bureaus (CHB) and entering it into a distributed ledger on the platform. The use of blockchain rules out the possibility of meddling with the ledger by 7Seconds or other participants of the ecosystem, making the information relevant, valuable and trustworthy for all financial institutions. This will significantly reduce banks' spending on scoring.
How 7Seconds works
How 7Seconds works
A client applies for a loan on the 7Seconds platform.
7Seconds sends out requests and buys information on the client from credit bureaus, mobile operators, and other data providers, adding information on purchases and loyalty programs, connected retailers and suppliers, medical, tourist, and other services. The company also runs its own assessment to counter fraud, assigns credit rating and sends a final assessment to credit and financial partners.
Each lender makes a loan offer to the client.
The client chooses the best offer.
Signing Loan Agreement
The client signs a loan agreement with the selected lender on the 7Seconds platform and a 7Seconds smart contract, which is entered into the distributed ledger. The client has access to the terms and conditions of the loan, repayment schedule and the number of CRET tokens reserved as a reward for paying off the loan.
Payment for goods
The lender transfers money to the store.
Transfer of goods
The store transfers the goods to the client.
Commission of 7Seconds platform
The store and the lender transfer commission to the 7Seconds platform.
Uncertainty risk management program
Upon full repayment of the loan, the number of tokens indicated in the 7Seconds smart contract is transferred to the client's wallet.
Risk compensation program
In case of the client's failure to repay the loan, the tokens are transferred to the bank under the risk compensation program. Information on the completed transaction will be immutably stored in the ledger.
Using CRET tokens in the ecosystem
- Uncertainty risk management
- Bank risk compensation program
- Repayment of the loan by the borrower
- Payment of commission by banks and stores
- Payment for analytical and statistical data
- Transfer to third parties
Our tech partners
Factors affecting value of CRET token
Growth of POS Market
Growth of POS⁄installment segment – av. 30% ⁄ year
Growth of 7Seconds' working business.
Risk Management Program
Demand from the risk management program (distribution of tokens to banks and customers).20% from operating revenue may be directed to replenishing reserves of CRET tokens for the risk management program.
Popularization of CRET token
Distribution of tokens to mass market of POS loans.
Platform users will only be able to spend their tokens upon fulfillment of their loan conditions. The average loan period is one year.
In 2019, global online trading is estimated to reach $3.578 trillion or 12.8% of all sales. The world market of m-commerce (sales over mobile devices) is growing by 40% a year and by 2019 it is forecast to reach $1.357 trillion. The market for online POS loans and installment sales is growing by 30% a year.
7Seconds employs professionals with 20 years of experience in banking and investment, more than 20 years of experience in retail, over 10 years in data analysis, machine learning, architecture and IT development.
7Seconds is a working credit marketplace for online POS loans. Over the year since the development, testing and launch of 7Seconds platform, it has been chosen by many international online stores and banks.
Our strategic partners
Strategic partner banks
Strategic partner stores
The 7Seconds business model is based on commission from every deal initiated on the platform, which works in an automatic mode. Every new market we join is capable of generating profits quickly. So, the business model is easily scalable and new integration happens within just a few weeks.
- Completed 2-3 Q 2017 Development of 7Seconds platform
- Completed 4 Q 2017 The first loan issued on the platform
- 3 Q 2018 Launch of CRET token sale
- 4 Q 2018 Listing CRET token on exchanges
- 4 Q 2018 Start of risk management program based on CRET tokens
- 1 Q 2019 MVP of 7Seconds scoring private blockchain solution
- 1 Q 2019 Opening branches in Great Britain, Poland and Indonesia
- 3 Q 2019 Launch of 7Seconds scoring private blockchain platform
- 4 Q 2019 Opening a branch in China
CRET token sale
- Exact number of issued tokens will depend on funds raised in the ICO;
- No creation, release or mining of tokens upon the completion of the ICO;
- Transfer of tokens will be allowed upon the completion of the ICO period;
- If the soft cap not achieved, raised funds will be returned to participants;
- Upon reaching the hard cap, the ICO will be immediately completed.
The sale of CRET tokens is carried out in 2 stages:
Stage # 1 Private sale
Stage # 2 Public sale
To be announced
|Soft cap:||$ 3,000,000|
|Hard cap:||$ 45,000,000|
|Token price:||1 CRET = 0.1 $|
|Total supply (maximum):||611,000,000|
Alexey Chalenko CEO / Founder
Anatoly Chernenko Co-Founder
Alexander Nesterov Business Development Director
Alexander Kizilov Chief Operating Officer
Anastasia Smorodina Chief Marketing Officer
Alexander Smirnov Head of Community Management
Vladimir Kozlov Head of Content
Sergey Klimov IT Architect
Elena Valeeva Software Developer
Antonina Trepacheva Designer
Prof. Wulf Kaal Advisor on Distributed Ledger Technology
Simon Cocking Marketing Advisor
Kamlesh Kangya Advisor on business development in the Asian region
Join CRET white list to be part of a breakthrough solution for the global POS loan segment!