What is Corl?
Corl Financial Technologies Inc. with the aim of introducing the Corl Token (CRL) has created the first token that represents equity ownership in a company, which offers revenue sharing finances to companies with high potential early revenue.
CRL is built using a profit-sharing model, which enable investors to receive a steady stream of trimestral dividends that come in the form of ETH. Unlike traditional tokens, the CRL token uses the blockchain technology to give tokenized dividends to investors while providing a transparent and KYC-compliant decentralized market for peer-to-peer token transfer. The token is executed using the Ethereum public blockchain and follows the ERC20 protocol.
Today, even successful businesses have had protracted battles in accessing the required funds in stimulating development activities, lucrative projects, and organically developing both their new and existing projects. Sadly, in spite of the technological explosion within the few years, nothing much has changed. Even in this robust technological age, only 11% of businesses have a source for alternative funding. This signifies that most of these businesses end up in unfriendly financial deals or in dead-ends situations.
The lending strategies of financial and bank institutions haven’t kept pace with the finances (capital) of most businesses in our current and fast-tracked digital landscape. Comparatively, traditional financiers have the tendency to serve a captive market without any actual motivation to change. However, largely, while technology advances at a lightning speed, the truth is that legal frameworks take longer time.
Taking business loans required protracted persistence reviews of the relevant document, which can take up to 2-6 months. Furthermore, these financial institutions have inflexible requirements regarding collateral to get funding. In addition, for these institutions, a personal guarantee is the standard required from business owners. Aside from this, loan repayment terms are strict irrespective of the business ebb and flow cycles.
Regrettably, most early growing businesses find this issue challenging to cope with the strict loan structures, high funding costs, and strict repayment rules. More painfully is the fact that it is during these inexperienced years of their business when the fragile and shifting nature of their growth paths needs accommodative and encouragement support.
In view of the aforementioned problems, there is a need for a change, one that gives new businesses the opportunity to grow effectively. Well, the Corl platform is uniquely designed to give small business what they need. The platform is designed to offer revenue-sharing solutions for new business seeking to boost their development, expand their market, develop their products, or hire employees.
The platform is created to serve investors and companies looking to achieve a mutually beneficial result. The Corl platform has two components – the business platform and the investor platform. The business platform enables companies to apply for funds, manage their payment tracking and profile. However, the investor platform provides relevant information on legal disclosures, the value of ownership, dividend payouts, portfolio analytics, and audited financial statements.
Corl is here to revolutionize business funding using simple protocols and mechanisms of raising capital. Furthermore, Corl is creating a universal decentralized platform that allows both big and small lenders an equal prospect to finance businesses with great ideas.
The Corl headquarter is situated in Canada with Sam Kawtharani as the CEO and Co-founder. The team comprises of 4 skilled members with a contingent of 6 advisors, which offers vast experience in finance, technology, and regulatory administration sector. The platform also has experts in lending, the blockchain, and investment management. A detailed list of all team members in enlisted in its website with their different portfolios.
The platform partners with various firms including Flinks, Polymath, TechStars, Coinsquare, Loopring, DMZ, OpenFinance Network.
For more information about the team members click Here
Facebook – 14.549 Likes
Twitter – 8.475 Followers
Telegram – 24.073 Members
- Corl Partners with MLG Blockchain to Develop Global Community
- Corl and Loopring Sign Memorandum of Understanding
For more news and updates about the project, follow their blog Here
The platform uses the CORL token and aims to be the first company to IPO using token. However, for investors, the token gives them access to act as a shareholder while holding equity in the company with privileges of rights and ownership. It is an upcoming ICO with1 CRL = $0.15 USD and will be built on the Ethereum platform. Furthermore, 39% of the total supply will be distributed during the ICO.
Corl has direct competitors who have been a force to reckon with in the industry. Small blockchain startups can start and fund their ICO without requiring Corl product. The industry has crowdfunding platforms that are hard to beat such as Kickstarter, IndieGoGo, BoomStarter etc. However, those in direct competition that Corl have to face include
- Raised $20.8M during its ICO
- Has a market capitalization of 20.9M
- Products already functional
- Its ICO raised $14.8M
Check our review about the NeuFund project Here
The Corl team has decided to proffer a consistent solution to our traditional business sourcing problems by using cut-edge modern technological solutions. Corl has pooled the ubiquity and worldwide reach of the blockchain and internet successfully to create a global business model, which completely put to rest the countless frustrations and bottleneck faced by our current traditional lending system.
Keen global investors and corporate borrowers will surely embrace the solution offered by Corl passionately. Nevertheless, the likelihood that the Corl platform will make an impact in the market is very slow. Furthermore, it is important for you to give it a thought that it has chances of becoming a successful company, but there isn’t any guarantee for that to happen now.
Website – https://corl.io/
Bitcointalk – https://bitcointalk.org/index.php?topic=2876865
Telegram – https://t.me/corltoken
Medium – https://medium.com/corl
Facebook – https://www.facebook.com/SelfKeyHQ
Twitter – https://twitter.com/getcorl
LinkedIn – https://www.linkedin.com/company/corl
Reddit – https://www.reddit.com/r/Corl/
By Jamal Molla