Blockchain technology has a number of technical challenges which need to be solved before it can become mainstream. Numerous organizations have formed to address these challenges, and the majority are working on the necessary Research and Development to take Cryptocurrencies to the next level. In most cases there is not a clear path for a Return on Investment for those funding the projects.
Introducing Swapy Network
The Swapy Exchange is a marketplace where international investors and credit companies from all around the world come together enjoying cost-effective, global and secure money markets.
The Swapy network is a decentralised protocol which aims to ensure universal access to credit by connecting investors and borrowers. Swapy has three decentralized applications (dApps) namely;
Swapy Exchange ;
An exchange that connects investor money to emerging economies. The benefitted parties would be both International investors from countries with low interest rates & credit seekers from countries with high interest rates. For example, a Japanese based investor can invest his/her money in a Brazilian startup through Swapy. Remember, the central bank interest rate in Japan is negative (-0.1%) while in Brazil its around 7%. The transaction will be governed by a smart contract signed between an investor and a credit company in the Swapy Exchange. This smart contract will be deployed into the Ethereum blockchain & the assets will be transferred across borders using cryptocurrencies. However, the funds and paybacks are pegged to the US dollar to avoid the high volatility associated with cryptocurrencies. This will be a win-win for both parties- the investors & credit seekers, as both of them are able to mitigate their domestic pitfalls, through cross-border dealings. The Swapy Network team hopes to provide all these features with a 100% committment to legal compliance. The alpha version of the Exchange has been released already & can be downloaded here.
Swapy Financial ID ;
A universal financial identity for individuals, providing a simplified Identity Verification System(IDV) or Know Your Customer (KYC). This will be particularly helpful for financial entities reliant on conventional KYC procedures that are cumbersome by nature. Swapy Financial ID will be a one stop solution for KYC & credit history analysis as all transactions are stored in the blockchain & are readily available upon authentication.
Swapy Data Market ;
A mechanism through which individuals can monetise their own data, also empowering new players in the financial space by giving them access to data. Swapy Network proposes a Data Marketplace that eliminates intermediaries & empowers individuals to trade their own data for monetary gains on a voluntary basis. The proposed marketplace aims to create a level playing field for new entrants in the financial space, as the present scenario is heavily skewed in favor of big corporations.
Swapy Network aims to solve the problems of access to credit by;
facilitatating offers of credit in order to lower the costs of capital.
eliminating information asymmetry between participants through a commonly shared and updated data network.
providing better data so that credit companies can make better lending decisions and offer lower rates to good clients.
encouraging lower cost capital and better information which can reduce entrance barriers for new companies.
This is Swapy Network market-based approach to accomplish the dream of Universal Access to Credit.
Swapy Token (SWAPY);
An ERC20 token, is the basic unit of value in the Swapy Network. It provides the only way to pay the fees for the services in the network. In the Swapy Exchange for example, 1% of every transaction carrried out is proposed as a fee that will be paid in Swapy tokens. So for a $100,000 transaction, a $1000 would be generated as revenue for Swapy Exchange.
SWAPY Token and ICO
About the SWAPY Token Sale
Total number of Tokens minted: 100,000,000 (One Hundred Million). The distribution will be as follows;
-Company’s stockholders: 15%
-Company’s Endowment: 15%
-Partners and advisors: 10%
-External developers fund: 10%
-Initial Coin Offering: 50%
Price of the token against Ether: 1 ETH = 600 SWAPY
Be a part of this tremendous project and follow these links for more information;
For more information about the project visit the links below;
Website : https://www.swapy.network
Whitepaper : https://s3.us-east-2.amazonaws.com/swapynetwork/SwapyNetwork_TokenSale_Whitepaper-EN-US.pdf
ANN Thread : http://bitcointalk.org/index.php?topic=2372636.0
Bounty : https://bountyhive.io/join/Swapy%20Network
Author
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