About ABLE project and development of the project

anitarossa (28)in #ico • 6 years ago

Traditional bank lend-deposit spreads create many problems, so ABLE project came into existence to provide solutions regarding the centralized financial services and non-transparent services. The cryptocurrencyfinancial solution, which provides financial products via peer-to-peer, decentralized exchanges and loan matching systems.

The platform based on financial activities using the ABLE account enables carrying out activities such as transaction, investment; etc that now is being carried out by current banking systems. The user can set forward loan interest through the matching system just by eliminate lending-deposits which are directly connected to users on the person-person basis. The project provides decentralized wealth management services and supports decentralized exchanges using smart contracts.

The main aim of the ABLE ecosystem is to evolve external systems consisting of simple payment transactions through integration.

Background:

The traditional banks make profits from differences between loan market lending-deposit spreading and deposit and serves as intermediaries. The ABLE project enables borrowers and investors so that value shared can be generated by eliminating intermediaries via a innovate system. Currently, banking businesses provide services that yield high deposits involving intermediary risks. So, the ABLE project generates a sustainable model which enables direct account linking via smart contracts and also provides a solution such as decentralized platforms.

Project financial services:

The ABLE project provides initial stages that are given below-

Investing/lending- with the help of a lending matching engine

Credit score/loan and payroll- provides support loans through credit scores and also salary-payment services

Remittance service and simplified payment- Provides remittance reserves and simplify address services

Investment- offers Initial coin offerings using smart contracts are governed to the users

The project also offers finance experiences which encompass remittance, payroll, investment, and loans.

The main principle of the decentralized platform is to spread value among participants and eliminate unnecessary intermediaries in any business model. The investors and borrowers get linked directly through the matching engine on the person-to-person basis that allows borrowers and investors to spread actual value.

ABLE ecosystem-

The system contains account and also supports 3rd party providing finance services, wealth management and micropayments. The decentralized exchange features get stored based on cryptocurrency through the addition of decentralized platforms. The framework gets distributed that allows production of finance smart contracts and wealth management thus creating an environment where developers can develop products based on finance well.

The customer gets admittance over financial yields using the API development project which evolve cryptocurrency platform enabling communication with micropayments.

About ABLE account-

The services of the platforms get operated with the help of smart contracts based on account and user. The users can have one or more accounts depending on their requirement and purpose. The user data includes a list of held accounts, subscription details, creditworthiness, and payment history and user information. Also, the account compasses loan account, free account, credit score, deposit account, fun/finance account and collateral account. The ABLE account consists of account information, deposit coin, balance, account type, password, account number, address linked to accounts.