The recent rate of technological development has caught up with every human activity. This has also led to the development of digital assets in the form of cryptocurrencies.
However, there is a challenge and that is the fact that cryptocurrencies are not widely accepted as financial assets. This has posed an obstacle for the holders of these digital assets as they cannot use them as collateral.
Another challenge with cryptocurrencies is the volatile nature of these assets and the high fees and commissions charged by intermediaries which makes selling and repurchasing cryptocurrencies risky and unprofitable.
The situation is made worse by the rapid growth in the value of these digital assets which makes it difficult for the holders and owners of these digital assets to offload their holdings maybe through selling them to raise the needed capital for business development or to improve their living conditions.
Today, to be able to obtain credit from banks or other financial institutions requires a long process of verification and documentation. Also, intending borrowers with unfavourable credit history, find it difficult to get loans.
As creditors do not accept digital assets as collateral for loans it becomes almost impossible for owners of these digital assets to get loans funded in fiat currency with their digital assets as collateral. The few private lenders who might accept to provide the loans also will not offer a rather transparent valuation of these digital assets.
All these challenges and more are what is facing digital asset and cryptocurrency owners today and they call for immediate solutions. For this reason, eCoinomic.net was conceived.
eCoinomic.net is a decentralized platform for fiat lending to cryptocurrency owners. The platform is based on the Ethereum blockchain technology.
eCoinomic.net Solution
eCoinomic.net is attempting to solve the problem by providing a scalable platform for getting access to loans in fiat currency for owners of digital assets with cryptocurrency as the loan collateral.
The platform would be offering secure, fast, and transparent tractions for users on its platform.
Revenue for eCoinomic.net will come from the fees paid by users on the platform. The eCoinomic.net network would consist primarily of borrowers and lenders.
Token Sale
The reserve stage for the token sale starts on 1st June 2018 and ends on 1st August 2018. The token symbol is CNC. The token is a utility token and is an ERC20 standard token. The token has a total token supply of up to 2.1 billion CNC.
eCoinomic.net Team
The team of experts at eCoinomic.net are experts with combined years of experience working in the financial and fintech industry. They include Aleksei Smolianov, the CEO owner of Sauber Bank which offers financial services to clients and has been in operation since 1992.
Other members of the team are Vitalii Topor who is the Managing Director and Maksim Akulshin, the Architect and Chief Technical Officer (CTO) at eCoinomic.net.
Conclusion
The blockchain technology has developed rapidly in recent times and this has really impacted the banking and financial services industry with the emergence of cryptocurrencies. eCoinomic.net offers a viable lending facility system that will cater to the needs of cryptocurrency holders who seek to store their assets in a safe and conducive ecosystem for healthy growth at the same time providing credit access to intending borrowers. For more information on how to join the token sale, click on any of these links; website, whitepaper, telegram, twitter, facebook
Author – Coltpython
