The ABLE project – reforming the financial ecosystem

In the world today, credit is necessary for human survival, credit is what is used to run businesses, it is used to fund other necessary things that money might not be available for at that particular moment. In essence, society would not be able to survive without credit, but a thing such as necessary as this comes at a cost these days, this is because banks which happen to be safest bet as to getting credit, give it out at high rates, sometimes rates up to 30% of the money lent to borrowers. And now lenders who bring their money to the banks to be lent to borrowers might be given a meagre 5% interest on their money, leaving the banks to profit from the difference. This is really unfair as the centralized banks which act as intermediaries between the borrower and the lender, are the only ones profiting from this, but this doesn’t necessarily have to be case, as I came across a project that has the potential to solve the lending problems we have today and also eradicate the greediness of banks. Now introducing the ABLE project – which aims to bring the new era of finance through crypto. How ABLE works is that, it connects borrowers to lenders on its platform (based on the blockchain) using its smart matching algorithm, so there’s no need for any intermediary such as the bank, since the whole point of decentralization is sharing value among participants while eliminating unnecessary intermediaries in a given business model.

The ABLE project in detail

The ABLE project which hopes to provide a decentralized banking service, which has no need for intermediaries and has ridiculous lending spreads eradicated, cryptocurrency interest rates will then be decided by mutual accord between users in a free market, and said rates will serve as market interest rates. Investors can receive higher interests than they would normally in a centralized market, while borrowers can lend money at lower rates, creating a win-win scenario for both parties. Since investing and lending are guided by smart contracts, the project will eradicate exposure to managers’ moral risk and also the risk of central-server hacking.

The ABLE project would also be building its own decentralized exchange in which crypto assets could be traded to develop wealth management and finance smart contracts. Then in the future it would evolve into a cryptocurrency finance platform and an ecosystem, enabling communication, including micropayment with outside parties. The decentralized platform would allow financial activities such as borrowing/lending, payroll and credit score loan, simplified payment and remittance service and also investment - account-based Initial Coin Offering (ICO) investment governed by a smart contract. The project offers an account-based finance experience that covers loans, remittance, payroll, and investment. The platform also allows you to trade digital assets or place them as collateral in exchange for fiat loans.

Roadmap

ICO details

ICO end date: August 10
Hardcap: 11000 ETH
Token price: 0.00215$
1ETH: 40000 tokens

In total, 60% of ABLE Coin tokens will be sold, which amounts to 15 billion coins.
15% will go to the reserve, 10% will go to team members, 5% will be given to marketers and strategic partners.

Team details

Conclusion

In conclusion, it could be said that the blockchain as a whole is gradually nearing mass adoption and the ABLE project is one of the numerous use cases that harnesses its power. The project hopes to integrate all the financial solutions into one and produce a seamless decentralized application, proffering a solution to the existing financial services and serve as a substitute to the centralized financial lending systems.

To know more about the project, feel free to use the following links:
Website
ANN
Whitepaper
Facebook
Twitter
Telegram
Medium
LinkedIn
YouTube

Authors' details:
Bitcointalk username: templar97
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Telegram username: @templar97