Swapy Network - Universal Access to Credit

According to the Global Findex report, two billion people around the globe do not have access to financial services, and especially access to credit. Current banking infrastructure is very expensive and consequentially, banking conglomerates typically make their services unavailable to the poorest populations or those living in remote areas. This is a particular problem in rising economies. The problem of access to credit can be reduced to three factors: · the high cost of capital · information asymmetry · the high cost of banking infrastructure. Swapy is a decentralized protocol with a capable of three integrated applications aiming to provide Universal Access to Credit.

Actually, Swapy has integrated with three major applications, these applications are:

(1) The Swapy Exchange

   It is the application that aims to connect smart money to rising economies. It will introduce international investors from countries where the interest rates are comparatively less to credit companies in countries where the interest rates are comparatively good, providing better returns to the investors and lower cost capital for the credit companies;

(2) Swapy Financial ID

It is the application that aims to empower people, providing them a financial identity that has the purpose to be valid anywhere in the world.

(3) Swapy Data Market

This app aims to transform users' financial data into self-determined value through a token-based system. This useful to decentralized applications will enables the individuals to hold their own data and to choose how many tokens they receive in exchange for it, and when, and with whom they want to share. The Swapy Data Market also target to reduce the entrance barriers for new participants since huge pools of data will no longer be exclusive to large corporations, and instead will present an opportunity for the new entrants. The Swapy Company envision a world of efficient credit markets, with no barriers to entry for new consumers, where consumers have the power and reap the benefits of Universal Access to Credit.

Benifits

Reduced cost of capital on emerging nations
Better returns for lenders
Financial identity valid worldwide
Individuals have the rights and reap the value of their own data
Easily accessible and lower cost financial data source
Lower entry barriers for companies

The Swapy Token

The Swapy Token (SWAPY) is a ERC2012 token and the basic unit of value in the Swapy Network. A single unit consists of 18 decimal points which means that the lowest value one can hold is 0.000000000000000001 SWAPY.
The Swapy Token is an utility token and it will be used to,

pay for the individual’s information
pay for services in Swapy Network (such as credit scoring)
used as collateral when requesting loans

These features become available through the decentralized applications which is developed by the Swapy team. The Swapy team believes that the network will achieve sustainability while promoting benefits to the peers in the Swapy Network. In addition to the protocol, the Swapy team is building three decentralized open-source applications that Swapy Tokens can be used in Swapy Financial ID, Swapy Exchange and Swapy Data Market.

Token Details