Well, the review of the Ecoinomic platform is smoothly coming to an end, so, as we promised in the previous part of the review, the final article will focus on how the solution will be achieved that will enable the Platform to act as an intermediary and Guarantee of the transaction reliability between the lender and the client.
In a nutshell, we remind that one of the main tasks of ecoinomic
is to confirm the possibility of cryptocurrency to perform the role of effective and reliable collateral in the process of granting loans in the form of local fiat currency. In addition, the platform provides tools to manage the kriptovaljutnym portfolio, but all of them in one way or another related to lending through the service ecoinomic.
Smart Contract in a mediation role
So, in order. As you may have already understood, there are two types of platform participants. The first is those who provide credit (various financial institutions, banks, foundations and so on). The second type-customers from the circle of participants Kriptovaljutnogo market, that is, those users who use the platform to obtain credit in fiat currency.
As we have already said, the pledge can be one of ten major cryptocurrency or CNC tokens that are sold as part of the , the participation in which will be the most reasonable solution, since after its completion to buy tokens can be Only 20% more expensive than their current market value at the time of purchase.
The Commission, which is charged to the user in the process of receiving the loan will be carried out exclusively with the help of these tokens and will depend on the size of the loan. For example, for a minimum amount of 200 USD credit, the user will have to pay 10 dollars to the Commission in the conversion to the CNC tokens, and for the maximum amount of 10.000 dollars-a commission of 60 dollars.
The smart contract for securing the fulfillment of credit obligations is very simple. The user who wants to receive the credit must pay a certain amount of cryptocurrency, which is blocked in the smart contract, as collateral to guarantee the return of the loan, after which he instantly receives credit in the local fiat currency. The further course of events depends on the successful repayment of the loan.
If the credit obligations are fulfilled by the client successfully, on time and in full, together with the Commission (interest), the blocked as collateral cryptocurrency returned to him in full. Credit is considered to be covered successfully.
If there are any problems with the repayment of the loan, the scenario changes a little. A blocked cryptocurrency (pledge) will be used to repay the loan in a timely manner to provide the institution providing the funds with a full refund and fulfillment of all credit obligations.
T in the form of cryptocurrency will be automatically exchanged for the amount that was to be paid to repay the loan. If after that there is any part of the deposited funds, the cryptocurrency will be returned to the client in full.
Such a model will provide 100% guarantee of successful credit coverage and will confirm the efficiency of use of digital assets as collateral more than once. Thus, there will be a maximum confidence between the creditor and his client, in which the financial institution providing the money on credit is in such conditions, which can not be deceived in any way.
Looking at the future
At the end of the discussion of the solution that offers ecoinomic let’s learn how soon the platform will be able to be launched, and its system of safe and secure lending is implemented. The prospects of the project are already mentioned because it has a very important goal that will bring the global adoption of cryptocurrency as a digital asset to secure loans in the form of collateral.
So, from 3 to 21 April will be held presell of the CNC tokens, in the process of which users who are sure that will use Ecoinomic to receive instant Fiat credits, will be able to purchase tokens necessary for the use of services Platform.
Immediately after that, they will receive confirmation of their expectations, as the Preseason will be followed by the launch of the Alpha version of the platform, followed by the main round of ICO, which is to take place throughout May.
The full launch of the Ecoinomic platform
is scheduled for November this year for early users and December for its other participants. However, the work on the project will continue up to 2020, so the platform is replenished with tools that make it as popular among all the participants of the crypto market.
DETAIL INFORMATION :
ANN : https://bitcointalk.org/index.php?topic=2878954
Facebook : https://www.facebook.com/ecoinomic
Telegram : https://t.me/ecoinomicchatroom
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Tags: #cryptocurrency #cryptonews #ico