It is calculable that around two billion working-age adults all around the world, particularly in developing countries, don't have any access to formal money services delivered by regulated money establishments like banks. This has been mostly attributed to the absence of reasonable banking services thanks to high opportunity cost & lack of awareness or incentive to come up with credit chance.
Inside the long list of problems that Blockchain technology aims to unravel, money inclusion could also be one in every of the foremost unnoticed ones. the parents at Swapy Network aim a credit chance to bolster their money power of living.
The Swapy network may be a localized protocol that aims to confirm universal access to credit by connecting investors and borrowers.
Swapy Exchange — An exchange that connects capitalist cash to rising economies. The benefitted parties would be each International investors from countries with low-interest rates & credit seekers from countries with high-interest rates. for instance, a Japanese primarily based capitalist will invest his/her cash during a Brazilian startup through Swapy. Remember, the financial organization rate in Japan is negative (-0.1%) whereas in Brazil it's around seven-membered. The group action is going to be ruled by a sensible contract signed between associate degree capitalist and a credit company within the Swapy Exchange. This good contract is going to be deployed into the Ethereum blockchain & the assets are going to be transferred across borders victimization cryptocurrencies. However, the funds and paybacks square measure pegged to the North American country greenback to avoid the high volatility related to cryptocurrencies. this can be a win-win for each party- the investors & credit seekers, as each of them square measure ready to mitigate their domestic pitfalls, through cross-border dealings. The Swapy Network team hopes to supply of these options with a 100 percent commitment to legal compliance. The alpha version of the Exchange has been free already downloaded here.
Swapy Exchange Public Alpha
Swapy money ID — A universal money identity for people, providing a simplified biometric authentication System(IDV) or grasp Your client (KYC). this can be significantly useful for money entities dependent on typical KYC procedures that square measure cumbersome naturally. Swapy money ID is going to be a 1 stop resolution for KYC & credit history analysis as all transactions square measure keep within the blockchain promptly out there upon authentication.
Swapy information Market — A mechanism through that people will legitimate their own information, additionally empowering new players within the money area by giving them access to information. The planned marketplace aims to form level enjoying field for brand spanking new entrants within the money area because the gift state of affairs is heavily inclined in favor of massive firms.
Swapy Token (SWAPS), associate degree ERC20 token, is that the basic unit of import within the Swap Network. It provides the sole thanks to paying the fees for the services within the network. within the Swapy Exchange, for instance, one hundred and twenty-fifth of each group action carried out is planned as a fee which will be paid in Swapy tokens. therefore for a $100,000 group action, a $1000 would be generated as revenue for Swaps Exchange.
