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StarFIN aims to incorporate Blockchain into traditional financial systems and services such as Insurance, Finance, and Commerce which in turn are integrated into the StarWORKS StarTRAVELLER program.
StarFIN is a "DeFi" product, a decentralized financial system without a central Bank, Insurance Company or Stock Market Exchange exercising its total control over transactions.
Token holders can lend, borrow or trade within the crypto economy, as a traditional bank does with fiat currency, and earn interest as a lender. Borrowing and lending are among the most common use cases for DeFi applications.
But, there are many more options, such as becoming a StarWORKS OTC Affiliate, a liquidity provider and income earner to a decentralized market exchange. Interest rates are typically more attractive than traditional banks and barriers to participation are low compared with banks lenders and borrowers.
The only requirement to take out a DeFi loan is the ability to provide the collateral of your StarXS Series Token (the token series attached to StarWORKS products and services).
StarFIN will also provide comprehensive travel insurance that allows StarWORKS to offer the hospitality industry a complete package to both businesses and customers.
Smart contracts are code that carries out a set of instructions on the blockchain and allows DeFi applications to run. They are a point-to-point contract without the involvement of a third party such as a bank or an Insurance Company and cannot be broken or modified without the agreement of parties to the contract.
Cryptocurrencies are volatile, the value frequently fluctuates which makes their securitization difficult to manage hence StarWORKS StarXS Series of Secured “Stablecoin type” Tokens is the Cryptocurrency at the core of the STARFIN products.
StarWORLD virtual world which is integrated with all of our products and services, will be available to you very soon.