:: ABLE :: A New Era in Crypto Finance
The Able project provides solutions to underperformance in the traditional financial setups such as crypto banking deposit and lending system anchoring the solutions on decentralization and the use of cryptocurrencies with smart contracts built on blockchain.
The project essentially uses cryptocurrencies on a decentralized platform on which users interact on a peer-to-peer basis thereby increasing liquidity while eliminating third parties such as brokers. The Able platform facilitates the access of financial products through a cryptocurrency-specific solution that automates and matches the needs of users.
The project centers on personalized accounts with which entities such as individuals and organizations can gain access to the financial products offered by the platform. These products are loans, credits and deposits which every participant contributes in the fixation of interest for each transaction. Users simply propose the amount needed to be lent and the interest rate they are willing to pay, while the system matches them with other users willing to provide the loans at that interest rate.
The project has been designed to support decentralized wealth management through a smart contract enabled mutual funds. The vision is the creation of the Able ecosystem that integrates external system such as the provision of payment solutions.
Current cryptocurrency banking systems are centralized. This comes with certain risks such as hacking of central servers which could result in the loss of depositors’ funds. Having a pool of funds under central management leaves them at the whims of managers of such funds. For example, there have been reported cases of managers giving out huge sums as loans without appropriate security as collateral.
These cryptocurrency banks provide arbitrary deposit and loans services separately. The absence of a matching mechanism makes it difficult to reward depositor with high interest rate thereby ensuring that most profits are made by the service providers since it is centralized. This is unattractive to investors and discourages deposits thereby affecting liquidity.
The services provided by the current system are limited by the involvement of intermediaries such as escrow services. These third-party services make it difficult to offer low interest rate to the borrowers since the fees are borne mostly by them. Those that offer high interest rates to depositors, however, are mostly ponzi schemes that pay older depositors with the deposits of new ones. Since these schemes are unsustainable, they are fraught with risks and usually pack up in a short time.
Able Provides a New Era in Finance
The Able platform has developed a matching mechanism that enables the project to be completely decentralized using blockchain smart contracts. The conditions for the loan are determined with full participation of the parties involved.
Depositors and borrowers are effectively matched on a peer-to-peer basis according to desirable variables. This eliminated the need for central storage of deposits and the need for intermediaries. The threat of hacks and that posed by weaknesses in manager’s moral standard is eliminated.
The project links the personalized account of users and serves peculiar financial need of each through the use of smart contract that take care of the pricing and security. The Able system enables accurate credit rating of each participating account through the assessment of their history on the blockchain. For instance, a salary earner who has been receiving salaries in cryptocurrency can conveniently access credit based on this rating.
Pre-Sale is Live until July 10th
- Pre-sale has a hard cap of 4,000 Eth
- Public Sale to follow shortly after
- Visit Website for more details: https://www.able-project.io/cn/index.php?lang=cn
Additional Investor Resources
Website Link: https://www.able-project.io/cn/index.php?lang=cn
Whitepaper: https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
BitcoinTalk [Ann]: https://bitcointalk.org/index.php?topic=3159298
Medium Blog: https://medium.com/@ableproject
Telegram Link: https://t.me/ABLE_Project_EN
Article written by @justiceforall
Bitcointalk user: Mr.Ease
User link: https://bitcointalk.org/index.php?action=profile;u=803528
Ethereum Address: 0xEa67d5856b48925972a9f3d6D9b923593B8B16a6
This is a hot looking project! Any idea how the Pre-ico is progressing? I cant find that info...
You got a 4.97% upvote from @emperorofnaps courtesy of @justiceforall!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
This post has received a 7.31 % upvote from @booster thanks to: @justiceforall.
Sneaky Ninja Attack! You have just been defended with a 7.52% upvote!
I was summoned by @justiceforall. I have done their bidding and now I will vanish...
woosh
A portion of the proceeds from your bid was used in support of youarehope and tarc.
Abuse Policy
Rules
How to use Sneaky Ninja
How it works
Victim of grumpycat?
You got a 3.47% upvote from @upme thanks to @justiceforall! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
You got a 3.00% upvote from @postpromoter courtesy of @justiceforall!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!