Crypt-ON will Supplement a P2P Lending Landscape with the Online Freelance Marketplace

in #steemit6 years ago (edited)

P2P platform technology is poised to grow into a multi-billion industry worldwide. At present, the P2P landscape has been handled by various specialised lending platforms and has been listed as among the most meaningful industries with increasing competition. Traditionally, P2P platforms provide services on credit assessment, determining borrower credit risks, moderating interaction between both parties, etc. While providing all the services from this field, Crypt-ON, a new cryptocurrency exchange platform will add escrow services and enable access to professional network for registered crypto-enthusiasts.

In face of the global P2P lending market

The mission of the project is to provide an easy-to-understand portal for crypto investors. The whole scope of the services will be comprised by escrow agreements, secure trades in cryptocurrencies, exchange services as well as professional networking which is a marketplace for crypto-enthusiasts to search for and find positions of interest. Crypt-ON’s structure is two-sided. That is, it has been designed for the borrower and the investor side. While both the application and the order placement process are being conducted online, a direct participation between two parties is enabled.

Selling activities

All transaction terms will be stored in a smart contract. Should any questionable matters between a buyer and a seller occur, arbitration system will be implemented to resolve disputes related to the contract. Bilateral trade agreements are intended to lower the trade barriers and strengthen communication between the participants.

Obtaining loans

Loans can be obtained in IPT tokens, BTC, ETH, LTC and Stablecoin. With the rating mechanisms, any risks with regard to individual and agreement terms can be evaluated. Both lenders and borrowers can place announcements with specified terms. Once suitable condition are met,both parties can move out to the smart-contract-stage. Funds will be automatically transferred to the user’s account.

Crypto-Freelance job exchange

Crypt-On freelance marketplace will match buyers of services, e.g. SMEs, with teams of self-employed individuals. Despite the recent growth, online job marketplaces still face significant challenges. To address those issues, Crypt-On will propose the following structure. A rating system will allow companies to gain an understanding of qualifications and skills of freelancers registered on the platform. As for the terms of corporations, both parties will be able to negotiate, agree or deny specific conditions. All payments will be made with the use of the IPT tokens. Since the platform also provides exchange services, stakeholders can convert the in-house token into well-established cryptocurrencies, such as BTC, ETH or LTC. Arbitration system can also be implemented in this case.

Main terms of the project:

DAO (decentralized autonomous organization). This is a form of community organization / platform that operates at the expense of the rules laid down in the smart contracts, and decisions are made by its members. Records of all transactions and DAO policy rules are stored in the blockchain system.

P2p-loans - a type of loan in which the transfer of funds is carried out without the participation of a bank or another third party, and the creditor is a specific individual. From English "peer-to-peer" (equal to equal), or "person-to-person" (from person to person).

Stablecoin is an external digital token that protects against the high volatility inherent in cryptocurrencies. An external token such as a Maker platform token or LibreCash will be selected for use in the project, the stability of which is ensured by emission / remission on the blockchain instead of guarantees in fiat currency (which does not have a value link to a traditional asset).

Reputation (Trust token) is a digital token operations records containing the user / participant platform of the operations records in the form of a trust rating. In particular, subject to the terms of the contract - in the form of a rating upgrade, in case of a delay in the execution of a contract - in the form of a downgrade, in the event of non-fulfillment - in the form of a “Attention! ((Alert!) ". The entry in the user's token is made automatically in the blockchain system and cannot be changed or canceled. In fact, this is a Crypt-ON user reputation, encrypted in the token for ease of handling and transparency of the recording.

Escrow (the term is used by analogy and does not involve the involvement of a professional market participant) - based solely on the consent of all parties to the transaction, the participation of an independent intermediary / authorized person, expressed in depositing the transaction price with it, with the condition of its subsequent transfer to the interested person All participants in the transaction fully complied with the terms of the contract.

Market
review

Blockchain, FINTECH, digital banking, cryptocurrencies are concepts that

are becoming key in a rapidly changing economic paradigm. New digital

technologies, based on a revolutionary approach to data storage and

value sharing, are entering the market at an unprecedented speed.

According to a forecast by Gartner Inc. 20 bln devices will be connected to

the Internet by 2020, and the monthly mobile phones worldwide traffic

will reach 25 thousand petabytes. Today, the capabilities of modern

smartphones already allow making complex financial decisions, and the

new generation of applications makes services such as online shopping or

money transfers faster, cheaper and more accurate than traditional

services.

The possibilities of this market are enormous. BI Intelligence estimates

that globally the peer – to – peer transfer market is already valued at

more than $ 1 trillion, and only a small part of these transactions-just $5

billion in the US, for example-are now conducted via mobile phones. The

total volume of mobile P2P transactions in the US is expected to reach

$86 billion in 2018.

Vision

The digital assets market, like the technologies that generated it, is still

very young. Many consider their appearance to be a significant event for

the world economy, capable of changing the rules of the game and

creating a new economic paradigm.

Despite the growing awareness of people about cryptocurrencies, their

practical application does not grow very fast. As noted above, this is due

to some issues, such as the problem of trust and market limitations, as

well as the lack of solutions that combine various activities in the crypto

industry.

Technologically
, we see a solution to these problems in the creation of a

P2P platform, which includes a set of interrelated services that use

cryptocurrency for payments.

The use of innovative tools, such as smart-contracts, can translate the

ideas that seemed utopian a few years ago into reality and effectively

solve the problems that traditional systems do not cope with.

We are confident that the blockchain is not only able to neutralize the

risks of working in online space, but for the first time in history, to make

an entirely honest, transparent, non-corrupt rating of borrowers, sellers,

and performers singular for all countries and resources.

For this, a trust token, a unique reputation token containing a history of

all the participant's transactions, will be used. It will upgrade the rating

each time the loan is returned, the work is performed, or the goods are

delivered on time and qualitatively, and downgrade it in case of delays or

defaults.

About Token

200.000.000 tokens (100%) will be issued during TGE, up to 20.000.000 tokens (10%) will be distributed among the members of the Crypt-ON team without the right to release them within next 6 months. up to 20.000.000 tokens (10%) will be sent to the insurance fund and up to 6.000.000 tokens (3%) will be distributed among the bounty campaign participants. and than 154.000.000 tokens (77%) will be distributed during the TGE.

Token Info

Token : IPT

Platform : Ethereum

Type : ERC-20

PreICO price1 : IPT = 0.08 USD

Price in ICO : 1 IPT = 0.1 USD

Tokens for sale : 200,000,000

Bonus TGE Stages

Investment Info

Min. investment : 50 USD

Accepting : ETH, BTC, BCH, BTG, DASH, LTC, Bank Wire

Distributed in ICO 100%

Soft cap 4,000,000 USD

Hard cap : 16,000,000 USD

Fo more information :

Website: https://crypt-on.io
Whitepaper: https://drive.google.com/file/d/1ItcfVNhOnSiXhRlf-OIAjZDSnfJuIS66/view
ANN Thread: https://bitcointalk.org/index.php?topic=3530713
Telegram: https://t.me/CryptON_ICO
Twitter: https://twitter.com/Crypt__ON
GitHub: https://github.com/Crypto-ON   

K.Tumpa
0x5491bAca1a9295d180078ed15f5dA96b188BDffC

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