Hello, dear readers! Today we will talk about the features of the ABLE project, as well as the program of this project. The main goal of this startup is to create a decentralized financial ecosystem that will implement credit, as well as investment operations using cryptocurrency. As you might guess, the project is destined to destabilize the positions of the banking sector, whose role in the modern world economy has become too large. At the moment, credit organizations are an expensive intermediary for financial confrontations between customers.
What will the ABLE project give to the modern financial sector?
After the launch of the ABLE project, the need for banking services will be completely eliminated, since now all credit, as well as investment transactions will be concluded using smart contracts in P2P format. By the way, these contracts are a digital analogue of real financial agreements.
Unlike the generally accepted contracts, smart contracts are executed automatically, because when they are concluded they become part of a chain of blocks that can not be changed.
Now let's look at what financial instruments will be available on the ABLE site;
Investing and lending in P2P format. By the way, this modification of interaction equalizes all participants of the ecosystem, giving them the appropriate rights;
Deposits;
Crypto-currency transactions;
Investments in ICO.
In the image below, you can see how the interaction between the participants of the system will be carried out.
Why the existing banking system is doomed?
So, banks receive income by attracting deposits at a low-interest rate and issuing loans with a higher margin. It follows that the services of this intermediary are becoming increasingly unprofitable. However, the problems of the banking system do not end there.
As you might have guessed, the networks of credit institutions have a centralized structure, which entails an increased risk of losing important data. This can happen because of an employee error, or because of a large-scale system failure. In addition, the content of centralized digital storage is quite expensive.
To top it all off, it's worth mentioning that a centralized business structure does not allow personalizing services. As a result, banking institutions do not have the ability to effectively promote their own financial services.
Advantages of the ABLE project
The basis of the ABLE project is a decentralized structure, which is a block. Due to this, network participants can interact with each other by means of the latching mechanism. This innovative development has a peer-to-peer structure, which allows investors and borrowers to interact in an equitable format. At the same time, the platform acts as an automatic guarantor, which guarantees compliance with the terms of the transaction by both parties. As a result, a free market will be formed inside the ecosystem, where lenders will be able to issue loans with a greater margin, and borrowers will be able to borrow at more favourable interest rates.
Due to the decentralized structure, the ABLE project database is reliably protected. In the event that one of the technical media is damaged, the digital information will not be lost, because the chain of blocks will not change due to this.
In contrast to its centralized counterparts, the ABLE platform will be able to personalize financial products, which will make it possible to effectively use the platform's capabilities. As mentioned earlier, this is possible thanks to the decentralized structure, which allows to economically store huge amounts of digital information.
Team
ICO parameters
ICO parameters
At the time of this writing, the start-up phase for the sale of digital "badges" of the ABLE project was fully implemented. The second stage of the ICO will start on July 16 and will be active until August 10, unless the startup collects 11,000 ETH hard cap before this time.
To purchase ABLE tokens, you can use Bitcoin and Ethereum.
Minimum purchase: 0.5 ETH or 0.05 BTC.
The price of the ABLE token is 0.00215 $.
Roadmap
As mentioned earlier, the first stage of the roadmap of the project was successfully passed. Now there is a final sale of ABLE tokens. For the third quarter of 2018, it is planned to introduce (listing) the system's token to the main exchanges. In the future, the project will be integrated into the financial sector of the real economy.
Summing up ...
Summarizing the above, I want to add that I am actively and enthusiastically promoting the idea of switching to blockchain technologies of the banking sector. When this mechanism ceases to be centralized, this will be the first step to real freedom of choice, primarily financial products. We ourselves can choose the services that we really need.
Having considered the ABLE project, I highly appreciated the technical base and concept of the idea itself, and therefore:
My evaluation of this project is 9.5 points out of 10!
Official sources of information:
Site: https://www.able-project.io
Telegram: https://t.me/ABLE_Project_EN
WhitePaper: https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
ANN threads: https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
Bounty threads: https://bitcointalk.org/index.php?topic=4450204
FaceBook: https://www.facebook.com/ablecoinproject/
Twitter: https://twitter.com/Ablecoinproject
YouTube: https://www.youtube.com/channel/UChRc3KUemnVI-riPFAIOntg
Article Authorship:
Author of the article: Deribolot Alexander
Author of the article: https://vk.com/investor_alex
Vkontakte Group: https://vk.com/investor__alex
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1619625
Twitter: https://twitter.com/icomymoney
Telegram: https://t.me/derikpower (
E-Mail: icomymoney@gmail.com