EFTA01183391.pdf

From: Vincenzo Iozzo To: "jeffrey E." <[email protected]> Subject: Fwd: Vincenzo Date: Thu, 14 Apr 2016 22:45:37 +0000 Attachments: Eximchain_Pitch_v_2.1.pdf Is something like this interesting to you? Begin forwarded message: From: Jinglan Wang Subject: Re: Vincenzo Date: 11 aprile 2016 16:14:22 GMT-4 To: Vincenzo lozzo Yes correct! 20-50% cost saving on fees. And 2 day payment processing instead of 20. I) We're lending club for importers and exporters, basically... we're different from actual lending club because we also provide all the services that a bank would provide when issuing a letter of credit. For example, checking and looking over various trade documents like the Bill of Lading. 2) Yes, verified settlement would be so dope if we used an escrow to hold the money - but we realized that nobody we spoke to wanted to hold like $8 million in escrow for a month and a half. We're trying to talk to some more hedgefund people to get a better idea of how that side of our market would work. Cheers :) Jing On Wednesday, April 6, 2016, Vincenzo lozzo > wrote: Hey, So let me check that I understand this properly, essentially you want to sort of combine eBay reputation stuff with a lending club type of thing? As in: you want to replace bank-issued letters of credit with a model whereby past history of the party allows you/the guarantor to assess the risk and the investors to give money to the exporter? And the advantage is that it is cheaper for the importer and more likely for the exporter Is that correct? Assuming it is, I guess the two questions I have are: I) how is this different from lending club? 2) I feel like a great thing there would be "verified" settlement. Meaning: an automated way to resolve disputes and lock/unlock the funds. Is there a way to do that? EFTA01183391 Anyway, I think the person for this is not Fadi but somebody with a finance background (if I understand the idea properly). Let me think who could be a good person to talk to EFTA01183392