In the traditional banking system, when people obtain loans, they are given from fund deposits made by investors and depositors. However, these loans come with high interests which when paid back, rather than go back to the actual investors, a huge chunk goes back to the banks leaving the actual money owners with meager interest rates on their funds. This system is unjust and unfair, hence the birth of ABLE project, which aims at easing the above highlighted bottlenecks in the traditional banking industry.
Able project is a decentralized platform leveraged on blockchain technology to proffer solutions to issues of centralization in the current banking system where borrowers and investors are at the mercy of the banks. The project aims to create an environment in which borrowers and investors have direct access to one another, thereby eliminating the need for the intervention of middle-men. This will help reduce the risk and burden associated with the banking operations on the general public.
SERVICES /FEATURES OF ABLE PROJECT
• Investing-Lending Matching Engine: Depending on users’ demand, either they are investing or lending, an order book will be created for the transactions; afterwards a smart contract is initiated to execute the investing-lending order. Cryptocurrencies already owned by the lender will serve as collateral and interest on the loan will go directly to the investor
• Cryptocurrency pay-roll and credit score/loan: As the world is advancing towards massive adoption of cryptocurrency, payment of salaries in cryptocurrency is also being considered. This will make it possible for workers to obtain income-based loans in which crypto assets would be used as collaterals. ABLE project will factor this into its operations
• The project aims to make crypto remittance more accessible by making crypto addresses easy for users. Users will be provided with the scheduled remittance service which allows users cancel remittance at any time before the reserved time.
• Users of the platform will be required to provide their personal data for KYC/AML. These data will be stored in the ABLE account through encryption
• Incorporation of a decentralized exchange to give users access to varieties of financial assets and also allow for trading of their crypto assets while eliminating the risks associated with the use of centralized exchange
With the intervention of ABLE project, the general public will benefit increased accessibility to low interest rates in loans, high returns on investments and deposits, alongside improved access to other financial products which are difficult to invest in.
TOKEN
Able coins are the tokens used on the ecosystem to fuel its operations. They serve as a means for making payment for crypto assets on the platform, as service charge for investing-lending activities as well as service fee for cryptocurrencies exchanged through the platform.
TOKEN SALE INFORMATION
Token ticker: ABLE
Hard cap: 4000 ETH (First Global sale), 11000 ETH (Second global sale)
Price: $0.002
ICO date: 27th June -10th July 2018 (First global sale)
16th July-10th August (Second global sale)
For more information about ABLE, please visit:
Website: https://www.able-project.io/
Whitepaper: https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
Telegram: https://t.me/ABLE_Project_EN
Facebook: https://www.facebook.com/ablecoinproject/
Twitter: https://twitter.com/Ablecoinproject
Ann Thread: https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
Writer: Crypto4ruby
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1788350