MONEYTOKEN: THE OUTSTANDING PLATFORM FOR SMART LOANS

INTRODUCING BLOCKCHAIN TECHNOLOGY AND CRYPTOCURRENCIES

Blockchain technology has solved many underlying problems associated with centralized systems as well as traditional financial systems.
The pathway which most people think cryptocurrencies will take has proved to be otherwise. This was the case when cryptocurrencies like the Bitcoin came into existence around 2010, and Bitcoin was tagged worthless and used for buying pizza. Today, cryptocurrencies have proved to be an appreciating investment asset that holders and owners prefer to store rather than spend. Such a market for this type of platform is made up of miners, cryptocurrency exchangers and providers of services for cryptocurrency purchases as well as project accumulated funds from Token sales.
Yes, cryptocurrencies have made the world change their perspectives or ideology about how money is seen as well as how money is handled, but yet there are issues which tend to limit the wide adoption of cryptocurrencies.

THE PROBLEMS

1. Despite the huge growth in the value of these cryptocurrencies, they are not proving very effective as payment instruments for real-life goods. The huge growth in value of these cryptocurrencies has in a way reduced them to assets instead of currencies which has caused miners as well as investors to hold rather than spend them on goods and services. Also, users gain no incentive trading their cryptocurrencies because owners tend to lose their investment positions if traded.
2. Most platforms that have tried giving out cryptocurrency backed loans usually fail to provide to their clients' proper risk management. While, on the other hand, most lending channels or Institutions finds it extremely difficult accepting cryptocurrencies as collateral.

THE SOLUTION

The solution to these problems was brought about by MoneyToken.
MoneyToken is a financial platform with huge concerns on cryptocurrency-backed lending as well as crypto leveraging and with blockchain technology transparency and reliability is guaranteed. MoneyToken offers crypto holders the outstanding opportunity to spend fiat at the same holding their positions in their crypto assets.
MoneyToken achieves this by;
i. Offering a Decentralized Exchange,
ii. Offering a Stablecoin known as MoneyToken's Stablecoin (MTC),
iii. Creating MoneyToken lending platform offering loans in fiat or MTC and accepting collateral as BTC or ETH.
The MoneyToken Solution:

1. MoneyToken aims to solve these challenges by managing risks accruing to clients while also creating a stable lending model that uses cryptocurrencies as security deposits.
   With this model created by MoneyToken, access to credit will be encouraged at the same time creating a credit market loans which is supported by crypto collateral, while security and transparency are guaranteed with the aid of blockchain technology.
2. MoneyToken platform based on the blockchain decentralized technology will offer a model that uses fluctuating crypto-assets as collateral for a loan provided in fiat currency or stable coin. With this model, all physical processes associated with banks and financial institutions are removed, owing to the fact that in the blockchain-based credit system, the value of the assets used as collateral in any time is public. In addition, with smart contracts, all transactions are carried out efficiently without the need of intermediaries.

THE MONEYTOKEN PLATFORM

The platform will be based on blockchain technology utilizing Ethereum-based smart contracts to secure the terms of the agreement of lending and borrowing. The crypto used for collateral will be deposited in a protected wallet that requires 3/4 signatures to access.
While, Multi-chain transactions and contracts will be incorporated into the system at a later stage, thus making MoneyToken a fully decentralized platform.
The borrower will be able to withdraw the loan and can also repay ahead of the scheduled time, in a case of extending the loan, the borrower can deposit more collateral.
On the other hand, when the borrower sticks to the loan agreement and wants to repay the borrowed funds, the collateral will be unlocked and transferred back to the borrower's wallet or the borrower can use the collateral to pay for the loans.
Furthermore, MoneyToken uses an advanced AI algorithm or AI assistant known as Amanda. Amanda is an AI assistant powered by Deep Learning with the aim of providing automated loan operations within the platform. Amanda performs the following functions;
i. Human-like services for the platform users,
ii. Tracking collateral performance as well as monitoring loan repayments and due dates,
iii. Removing the need for middlemen, managers and all the useless practices associated with the traditional banking,
iv. Acting as a true AI.

TOKENS AND CURRENCIES OF MONEYTOKEN PLATFORM

Collateral currencies from the onset in the MoneyToken platform are Bitcoin and Ethereum currencies while other trusted currencies will be added in later stages of advancement. While the loan currencies include USD Tether, DAI from makerDAO and MTC.
MTC is a stable ERC-20 token on the MoneyToken platform. At the internal MoneyToken exchange point, MTC can be converted to USD with 1 MTC equal to 1 USD.

IMT TOKEN

The Initial Money Token, known as IMT is a utility token having a total supply of 20.044 Billion.
With IMT, holders will become lenders, have up to 60% discount on the platform fees for customer membership, and participate in a decentralized decision-making system.
The Token Sale

CONCLUSION

MoneyToken seeks to build a platform where it will be possible for cryptocurrency holders to hold their positions in their crypto assets at the same time having the opportunity to spend with fiat.
MoneyToken is for;
a. Miners,
b. Traders and Investors,
c. ICOs,
d. Exchanges.

THE TEAM

THE ADVISORS

MEET THE LOCAL AMBASSADORS

MEDIA AND PARTNERS

FOR MORE INFORMATION ABOUT MONEYTOKEN

Telegram Group: https://t.me/moneytoken

Twitter: https://twitter.com/MoneyToken

Facebook: https://www.facebook.com/MoneyTokenOfficial/

Medium: https://medium.com/@moneytoken

YouTube: https://www.youtube.com/c/MoneyToken

Visit the Website: https://moneytoken.com/

Whitepaper: https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf?ver=1.01

Author: Flezy

Author's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2187485