Despite the rapid development of the economy, gold is still the leading precious metal that is the guarantor of the monetary units of various countries. Many entrepreneurs and individuals invest in gold in order to preserve and increase their capital. But when there is a question of buying assets in exchange for precious metal, a seller has doubts. This particularly applies to shares of other companies that simply do not accept gold as payment and work only with the currency. In this situation, it is necessary to exchange gold for cash, transfer the necessary amount to a seller of shares and only after that get the acquired asset. The commission amount, taking into account all stages of the transaction, is significant and at times incommensurable with the potential gain from the acquisition of the asset. Abacas offers an innovative solution that eliminates all intermediary transactions by directly buying the shares in exchange for gold.
https://token.abacasexchange.com/
Key features of Abacas
Abacas platform offers transparent work when buying assets using gold. Since all intermediaries are excluded, Abacas works without hidden commissions and allows a user to reduce trade costs to 50% of the transaction amount. All transactions are published in a public book with shared access, which also increases the transparency of transactions. Abacas offers a wide range of partners working with gold. Now, one transaction is enough to buy assets using precious metal, which significantly improves profitability and liquidity of investments.
Advantages of Abacas
The project was launched in the middle of last year, and is already rapidly gaining popularity. In June, the alpha version of the project was successfully launched, and by August the beta version of the platform is being developed. Abacas will start working in its full functionality by the beginning of 2019. The business model of the project is built on deduction of part of the commission from the transaction amount (currently 5%). The size of the commission is within reasonable limits, and taking into account the elimination of intermediaries during the transaction allows making purchases with maximum benefit.
https://token.abacasexchange.com/
Abacas conducts a permanent audit of the community to ensure that the ratio of tokens and assets is in balance. The decentralized platform provides a secure backup of user's private keys.
Also, the advantage of the platform is blockchain technology, as the platform creates an unchanged record of transactions that clearly defines the ownership of the asset. Thanks to blockchain, the exchange terms (change of ownership of the asset) become shorter. The project creators chose Ethereum as the basis, which will allow using any cryptowallet that supports this technology to buy tokens. Abacas conducts all transactions using smart contracts, which ensures their high speed and full transparency of a transaction at each stage.
The main advantage of the platform, of course, is the security of a transaction. At the time of purchase, the necessary part of buyer's gold fund is frozen and is received by a seller after a buyer receives shares. Thus, each party of a transaction is protected.
Abacas cryptocurrency
All calculations on the platform are carried out using ABCS tokens, the total amount of issued tokens is 100 million. 30 million of ABCS tokens are allocated for sale. The crowdsale is about to over, and for the current moment 1 platform token can be purchased at a price of $1.4. The investments received during the project are planned to be spent on the further development of the project and marketing campaign.
Conclusions
Summing up, it is necessary to note the uniqueness of the industry chosen by Abacas. Currently, the project has no analogues of the appropriate scale. The project’s alpha version is already in high demand and will provide investors with a high income. A convenient interface, 24-hour support service, a wide range of partners will attract interested owners of gold assets to the project. The decentralized blockchain-based platform also provides better protection to its users from the theft of digital assets and high transaction speed.
Links:
Website: https://token.abacasexchange.com/
WhitePaper: https://bit.ly/2q5smvR
Telegram: https://t.me/ABACASXCHANGE_ABCS
Facebook: https://www.facebook.com/AbacasXchange-174858729748558/
Twitter: https://twitter.com/AbacasXchange
Medium: https://medium.com/@AbacasXchange
ANN: https://bitcointalk.org/index.php?topic=3087781.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.