ABLE: BUILDING A BETTER FINANCIAL SERVICE PLATFORM WITH THE AID OF BLOCKCHAIN TECHNOLOGY

emmy92 (42)in #ico • 6 years ago (edited)

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The advent of blockchain technology has revolutionized this current era in ways the world have never seen before. Blockchain technology introduced the use of smart contracts which ensures all real-time transactions are completed efficiently. Another outstanding feature of blockchain technology is decentralization, with this feature, users data is protected as well as users being in charge of their personal data and having control over it.
In my own understanding, decentralization is the act or a process by which power, authority or rights is taken away from a central system to a distributed system. This is the main feature of blockchain technology which makes both new and existing platforms to embrace it thus bringing a great revolution to the world today.
The applications of blockchain technology can be seen in the;
a. Financial systems,
b. Healthcare systems,
c. Gaming platforms,
d. Information Technology etc.
Once a system has been proven to be disruptable, blockchain technology will recreate and make it more scalable, meeting the global expectations thus making the world a better place.
In other to be part of this revolution brought by blockchain technology led a team of experts into creating a platform unique in all ramifications with the aim of bringing a lasting solution to the problems plaguing the traditional financial systems. This is no other platform than ABLE.

WHAT IS ABLE ALL ABOUT?

The project ABLE, is a cryptocurrency-based platform, bringing financial solutions, which comes with cryptocurrency financial products and services through;

A peer-to-peer loan-matching system: With this system, users will be able to request for loan interest rate on a peer-to-peer basis.
Decentralized exchanges: With the use of smart contracts, the ABLE project will provide decentralized cryptocurrency wealth management services.

Therefore, the ABLE project offers the following financial services;
a. Investment: ensuring ICO account management with the use of smart contracts,
b. Remittance,
c. Payroll,
d. Loans.

WHAT ABLE AIMS TO ACHIEVE

In a nutshell, the ABLE project aims to bring a solution to the following problems;

Lending and Deposit spread ( that is, the difference between lending and deposit interest rate) associated with the traditional banks: In this system, the traditional banking business model gives banks the right or opportunity to stand as the middleman between depositors and borrowers. With this model, the bank accepts funds at a low-interest rate and lend at a high-interest rate, thereby making massive gains.
The nontransparent nature of the existing centralized cryptocurrency financial services: This system is based on a central database or services and together with the existence of high-interest rate, the system is prone to;
a. Data breaches or cyber attacks,
b. Managers not knowing their right from wrong.

The ABLE project aims to solve this by leveraging blockchain technology thus utilizing it's transparent and reliable nature.
The solution thereof:

To solve lending and deposit spread issues, ABLE developed a matchmaking engine or program which unites investors or depositors and borrowers on a peer-to-peer basis with the absence of intermediaries or middlemen. By the removal of the middlemen and lending spreads, cryptocurrency interest rates will solely depend on the mutual agreement gotten from users in the free market in the long run also serving as the market interest rate.
To solve the problems associated with the current cryptocurrency financial services, the ABLE project provided a solution which will remove the centralized nature of this system, thus connecting users directly to the required account having different financial services for them to choose from such as investment, payroll, loans etc.

ABLE ECOSYSTEM

The ABLE ecosystem is made up of the following;
a. ABLE account: Which comprises of Finance, Investment and Micropayment.
b. Finance: Comprising of investment-loan peer-to-peer program and salary smart contracts.
c. Wealth management: This encompasses ICO Investment and Mutual funds smart contracts.
A decentralized exchange (DEX) is also inclusive leveraging on smart contracts. With all these, ABLE will be armed to carry out the following activities;
a. Distribution of framework for the production of wealth management as well as finance smart contracts,
b. Enabling developers to build financial products.
c. Users will be able to access many financial products.
d. With the development of API, ABLE will be able to build an ecosystem which works as a cryptocurrency finance platform while ensuring rapt communication, etc with third-parties.

Benefits Of ABLE Platform

Investors are opportune to receive higher interest than that available in the centralized market.
Borrowers will be faced with lower interest rates.
Elimination of vulnerabilities such as central-server cyber attacks and managers moral and behavioural hazards.

TOKEN INFORMATION

The ABLE project token ABLE will first be an ERC20 token built on Ethereum blockchain when the ABLE main net is launched, all token will be converted. ABLE has a total supply of 25,000,000,000.

CONCLUSION

ABLE aims to create a fourth industrial revolution by utilizing blockchain technology in financial services such as;
a. Depositing and using cryptocurrency in real-world applications,
b. Making Investments with cryptocurrency.