The ethecalTM Community

Some organisations exploit vulnerable people for the sake of their own profit. The ethecal
community is changing the rules so that these organisations will have no place in the new economic ecosystem. 

Whilst there are, undoubtedly, many organisations who have no interest in anything except their own profits, there are also a growing number which are truly dedicated to being a positive force for society. 

The ethecal ecosystem offers these ethically positive organisations a platform where they can offer new products to people who previously could only turn to loan sharks and other exploitative organisations. 

In other words, the ethecal platform reverses the economics of providing services to financially vulnerable people… it makes it not only an ethically positive position, but an economically positive one for them. 

These are some of the key parts of the ethecal community, and how ethecal offers them a virtuous circle that benefits them financially… 

Central & Local Government

Local Government bears the brunt of the effects of Poverty. 

Rises in poverty levels directly impact the cost that Local Government must meet to support the most vulnerable in their communities.  

Increased healthcare for both physical and mental illness is an obvious cost, but others include increased welfare costs and increased crime related costs. 

Local Government collect all kinds of payments (from rent to parking fines or market stall permits, many of which can be more efficiently and ethically collected using the ethecal platform. 

Local Government also make a high volume of payments to the people in their communities. They employ a huge number of people, many of whom are on low incomes, and they also distribute various welfare benefit payments. 

The ethecal platform allows Local Government to make and receive payments in a more efficient way. By using the ethecal platform though, Local Government also helps the people that they serve to access all the personal benefits of the ethecal ecosystem. 

In this way, Local Government helps to reduce the levels of poverty in their communities, and therefore dramatically reduce the costs that they need to meet to support those communities. 

Virtuous Circle ? 

Retail

Retailers of all kinds like to offer store credit. In some cases, particularly those sectors where the goods sold have high value that is therefore suited to contract purchase (mobile phones, white goods, technology etc), credit scores are a part of the sale process. This means that many potentially good customers are turned away, and even more never come into the shop, or online store. 

By using the ethecal platform, ethecal retailers can access an improved credit evaluation and provision system which allows them to sell their goods to a large portion of the market that they would previously have either turned away, or never seen in the first place. 

Virtuous Circle ? 

ethecal Credit Providers

Credit Unions, and even the traditional banks, don’t want to charge high interest rates to vulnerable people. In fact, that’s why loan applications are turned down so often – because banks recognise the danger of the Vicious Circle of Debt & Poverty. 

However, the evaluation process that links an inaccurate perception of risk to rates which increase quickly until they reach a ceiling from where no credit can be provided, is flawed.  

The ethecal credit providers don’t profiteer from higher rates and they don’t benefit from refusing credit to people who desperately need it. 

The ethecal platform therefore offers these institutions an improved evaluation and collection process which enables them to provide much-needed credit, at fair rates, to a huge portion of society that they previously could not help. 

Virtuous Circle ? 

ethecal Power Suppliers

Retailers of all kinds like to offer store credit. In some cases, particularly those sectors where the goods sold have high value that is therefore suited to contract purchase (mobile phones, white goods, technology etc), credit scores are a part of the sale process. This means that many potentially good customers are turned away, and even more never come into the shop, or online store. 

By using the ethecal platform, ethecal retailers can access an improved credit evaluation and provision system which allows them to sell their goods to a large portion of the market that they would previously have either turned away, or never seen in the first place. 

Virtuous Circle ?