[REVIEW] SANCOJ-The world's first currency supermarket (PROBLEM & SOLUTION)

| INTRODUCTION

We are in a world where successful people make up a ny percentage of the populace. Without doubt, we know that success means many things to many people but we would like to borrow our own definion of success from Huffington Post’s Founder, Arianna Huffington who believes that apart from only money and power, success should also reflect a third metric which is “To live lives we truly want an d deserve and not l ives we sele for” and this consists of 4 pillars; Wisdom, Wonder, Wellbeing and Giving.

click logo to join token sale ⇓⇓⇓

| WHY THE BLOCKCHAIN

Cryptocurrency: Sancoj was exisng as centralized plaorm called WorkXtra. We used 2 Fiat currencies (Nigerian Naira and USD) as payment currencies. To execute a transacon, we would have to convert from Nigerian Naira to USD and somemes, to the local currency of the user. At some point, it became a problem and we started seeking alternaves. We realized that using a medium of exchange that would be generally accepted in all locaons of the world will be the answer and we adopted crypto currency, which is powered by the blockchain.
Because Nigerian banks were not receiving funds from world major plaorms likes PayPal, etc. We relied on bank wire to transfer money to our business account in Nigeria, which naturally comes at huge costs. To execute a withdrawal order for internaonal user, we had to use same procedure. Even with the associated high cost of transacon, the transacon sll takes days to process. With the blockchain, we have instant transfer that comes relavely cheaper.
Governance: With the blockchain, the transacons a re peer-to-peer and do not rely on any central government. This means that the admin cannot unnecessary delay or alter a transacon. Power is in the hands of the users.
Security of transacon data: Since transacon data is hosted on blocks located a and not on a parcular server/data center, the data can hardly as you cannot have access to alter all the blocks. If you alter block, the copies on other blocks remain unchanged.
Liquidity: We had problems of liquidity. Many internaonal users found it difficult to liquidate bulk cash. Even if we transfer large of amount of USD (at huge cost) to them, converng into local currency or other spendable form became a problem because of debit card limits, local bank and government regulaons. With the blockchain, users can liquidate large amount at the same me.

Source:https://sancoj.com/assets/whitepaper.pdf

| OTHERPROBLEMS WE SOLVE

PROBLEM 1:

Currently you need to visit many applicaons for different opportunity needs. You use a chang app to chat with loved ones, use marketplaces for commerce, socialize on social networks, search jobs on job sites, write exams on test plaorm, study on e le - arning applicaons and so on, thereby sharing your passwords, which exposes you to the risk of having you account hacked.

Solution:

Sancoj uses its simple interface, powered by an advanced synchronizaon algorithm to bring most of your internet needs in one place: you can chat, buy businesses, franchise, lend money, get fund, etc and socialize. With Sancoj, you are secured, you spend less me and energy to get most important things done and this increases your producvity level.

PROBLEM 2

Posng and geng opportunies on internet cost money. Whether you post jobs, product, etc or you get job on the internet, most of the mes, you are required to pay commission or transacon fees.

Solution: Sancoj offerszero commission. Meaning that if you do a job through Sancoj and get paid, you keep 100% of the proceeds. We do not take any commission unless you adverse or engage in special requests.

PROBLEM 3

Plaorms and companies that run them, make negave decision on users on daily basis. Payment not processed, payment delayed, order cancelled, incenves/rights revoked, etc.

Solution: Sancoj is built on the powerful Ethereum Blockchain which runs with no central governance, thereby pung power in the hands of the users. Any agreement reached on Sancoj by users, is backed and executed through the immutable Ethereum smart contracts. Payments are transferred peer-to-peer and not by admin or Sancoj's account department. This means that once a user makes an intended payment order, its goes directly from sender's wallet to receiver's wallet, securely and instantly.

PROBLEM 4

One of the biggest problems of online transacons is fraud. People promise so much and deliver lile or nothing, thereby making many internet users lose money on a daily basis.

Solution: The Sancoj plaorm ulizes the power of its escrow system in reducing fraud. Users can ask business partners to put money on escrow, pending the fulfillment of your agreement. Once agreed condions are fulfilled, the user releases funds. This protects both pares.

PROBLEM 5

Once money is involved, many disagreements are expected from business, work or social partners. Even escrowed funds can cause disagreements if one party feels dissasfied.

Solution: Sancoj provides advance arbitraon module and qualified legal personnel to handle negoaons, discord or disagreement resoluons if users fail to sort their issues through dialogue.

PROBLEM 6

Many people today do not know their capabilies. They search for opportunies within their training line, witho ut realizing that a distant hobby can bring financial breakthrough. This causes serious under ulizaon of human, brain bringing limitaon, failure, hunger, instability, etc., to the people.

Solution: Sancoj allows it’s advanced Arficial Intelligence Agent (Zingo) to think for users, analyze mental, physical, social and environmental capabilies of the user, suggest opportunity and predicts the user's success rate par the suggested opportunity.

Problem 7

Financial limitaon. As they say, finance is the blood of every business but most people lack the needed finance to pursue their dreams.

Solution: Sancoj makes it simple. Zingo analyses user financial needs of a user, seekssoluon by helping the user find a soluon. Zingo suggests funders, inf ade funders, orm funders, persu negoate payback strategies with funder and secures fund if approved for the user.

PROBLEM 8

Liquidity. Cashing out has been a huge problem for online businesses especially those involved in bulk amount remitances. Bank regulaons, daily transfer and spending limits do not help.

Solution: The Sancoj project will make use of a debit card. Sancoj's debit card will allow users to spend their SANC token on POS, ATM and online plaorms around the world. Due to the daily transacon limit associated with debit cards, Sancoj in tends to add a n advanced module. This will allow users with big amount to access and convert their funds in bulk without restricons or liquidity limits, lawfully.

PROBLEM 9

Corrupon in project execuons. Lack of transparency has made it difficult to get agreed quality for many projects, especially those awarded by governments. No transparency in the contract bidding process, no transparency in the award process, no transparency in execuon, no transparency in monitoring. People tend to deli ver less than specificaon from what they promised.

Solution: Our project monitoring module allows opportunity owners to authorize the public to monitor project on their behalf and report accordingly. Example a road construcon project can be monitored by individuals around the construcon area. The individual can take real me pictures and videos of completed or ongoing work and post them on the Sancoj plaorm. This will reduce manipulaon of the supposed monitoring team and the reporng of fake job status.

PROBLEM 10

There is lile or no compeveness amongst opportunity seekers especially for full me jobs. This has caged flexibility in the cost of hiring and raising fund.

Solution:Since all opportunity types can ulize the bidding tools, the compeveness amongst opportunity seekers will increase. Example: If a user want to lend his token for 20% interest rate, seeing another funder willing to give at 15% will make him recheck his strategies.

| TOKEN SALE

(a) Seeding Funding: 2014 - 2016

Fund was raised for early research and development. This fund was raised mainly by the

management team and close associates.

Token Allocated: 10billion (from Early Investors’ Allocaon)

Price: 1BTC = 2billion tokens@ $4600 per BTC

(b) Pre-Sales April 16 - April 23 2018

Tokens to be Distributed: 5 billion

Price: $0.00024 1 ETH = 1,700,000 (Accepted Currencies ETH)

Bonus: 68.75% of

Token distribuon

for the allocated 50 billion SANC tokens to investors worldwide.