Being in charge of conventional financial structures has given financial institutions the privilege of coming up with policies and principles that proves not to favour the greater part of the audience. The activities that Glen on in the banking environment is centered mainly on collection and disbursement of cash; as people's need to save money began to grow and investment are yielding greater income,homes and little save boxes could no longer contain what needs to be saved, and there came an idea,to open a place where all this money can be kept for safe keeping. These savings from various individual bank customers,after been received from people who had the intention of saving,are later given to borrowers as loans at a higher rate instead of allowing the money to be dormant. This invention known as commercial banks,as through its inventions earned a living for its staff through the interest they charge on loans. With emphasis been laid on the issue of presenting a collateral before loans loans are issued, banks actually rob peter to pay Paul, disguising to be saving up money for their customers they end up doing business with it,earning a living from customers deposit,this they do by collecting low rates deposits and giving it out to borrowers at a very high interest rate.
UNLEASHING THE BLOCKCHAIN BANKING PLATFORM.
ABLE is a decentralized solution provided to solve all the challenges that came with the conventional banking and financial systems. This might seem untrue to a lot of people,and then the question is asked, blockchain banking? Yes,is what the answer would be, blockchain banking is possible. To run a blockchain banking is very possible, and this Inquisition brings us to know more about the ABLE applications.
ABOUT ABLE
ABLE is the aims tl run a financial transaction,without the need for intermediaries of any sort. In the conventional systems,banks act as intermediaries between depositors and borrowers,more like a bridge linking them together, it isn't so with the blockchain banking system.
The ABLE platform rather connects the lenders and borrowers together to transact their loan business,and this comes to the borrower at a lower rate,because there is no middlemen to earn from the transaction. Haven understood the purpose that the ABLE platform fulfils, it is then right to say that,the function of the Platform is to seek out willing to lend investors and borrowers, after linking them together, how's further to determine the interest payable on loan by the borrower. The first rate at which ABLE is moving towards automation,has made the manual operations of the banking system look more like an unserious activity.
CRYPTOCURRENCIES AS COLLATERALS?
To those of us used to the conventional loan taking system,it is a known fact that what banks banks collect before loans can be issued out,are physical tangible assets,but today ABLE is introducing a loan system where one does not need to own a tangible assets to get a loan,once they have a digital asset or currency,they are good to go. ABLE been one of the many decentralized platforms that allows the use if cryptocurrency as collateral for fiat loans, can perform same functions as banks. With the ABLE platform, funds can be lended or borrowed using cryptocurrencies as collateral.
TEAM
ADVISORS-
PARTNERS
CONCLUSIVE THOUGHT
Banks have through their initiatives,earned a living off the efforts and savings of their customers,by acting the middleman in all of the clients business. The role that the banking institutions play in the lives and businesses of their customers are really indispensable, but the problem is with the exorbitant interest rate at which they issue out the same loans that they receive as deposits from their customers at a lesser interest rate. But all of that has passed,as the invention of the ABLE blockchain banking system ushers in a dispensation where lenders and borrowers connect, without any form of intermediaries, making the interest payable on loans lesser than it is with banking institutions.
For more information about Able platform refer to the links below
Join the Telegram Group: https://t.me/ABLE_Project_EN
Follow on Twitter: https://twitter.com/Ablecoinproject
Follow on Facebook: https://www.facebook.com/ablecoinproject/
Follow on Medium: https://medium.com/@ableproject
GitHub: https://github.com/kblockchain/
Website: https://www.able-project.io/en/m.index.php?lang=en
Whitepaper: https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
Writer's Bitcointalk Username: Lil space
Writer's bitcointalk profile link - https://bitcointalk.org/index.php?action=profile;u=2110845