ICO REVIEW 2018 – ECOINOMIC

The invention of blockchain technology has brought a tremendous change to the financial systems inclusive of the banking sector. Blockchain technology introduced decentralization which is one of its key features in addition to smart contracts and time-stamping. All these and many more make blockchain technology offer trust, transparency and reliability in every platform it’s implemented on. Individuals can initiate transactions from anywhere in the world without the need to worry about transaction charges or geolocation restrictions. Blockchain technology has found relevance in the Healthcare systems, Gaming platforms, Financial systems etc, thus solving related issues.

With reference to the financial systems, a platform unique in all ramifications aims to give easy access to fiat money loans which will be backed by cryptocurrency. This is no other platform than eCoinomic.net.

In a nutshell, eCoinomic.net is a blockchain-based platform with the purpose of providing traditional financial services to cryptocurrency holders. eCoinomic.net presents fiat loans with cryptocurrency as collateral, thus bringing cryptocurrency holders and traditional financial services together. The result of this is a single lending network.

THE CURRENT PROBLEMS

For every great project, there are unique problems to be solved, and as such eCoinomic.net is not an exemption.

These problems are;

1. The high volatile nature of cryptocurrencies is very risky for short-term investors while selling for a short time and re-purchasing leads to a less profitable investment due to commissions charged by intermediaries.

2. Owing to the fact that cryptocurrencies are yet to be adopted globally as a means of payment, makes it difficult serving as a collateral.

3. Losing a position in the crypto space has led many investors into a state of confusion, how? With the rapid growth of cryptocurrency assets, investors are always cut between selling to solve life issues or holding so as to increase their asset’s value within a short time.

4. To access loans in cash comes with its own hurdles. It’s time consuming owing to the fact all accepted documents, as well as collateral, needs to be verified. In addition, there is no guarantee that the loan will be given, which can be caused by unfavourable credit history.

5. With creditors not accepting digital assets as collateral makes obtaining real money impossible. This is because traditional financial institutions can’t present security of cryptocurrency in addition to private creditors not guaranteeing security as well as transparency of the transaction.

SOLUTION OFFERED BY ECOINOMIC.NET

The solutions offered by eCoinomic.net is unique and one of its kind.

1. eCoinomic.net offers crypto assets holders the opportunity to hold their positions in their different assets, yet having access to fiat loans. eCoinomic.net achieves this by creating a global blockchain network, where individuals, as well as small businesses, will access fiat loans while using crypto assets as collateral, in addition, eCoinomic.net platform provides intermediary services between borrowers and financial institutions which acts as lenders.

2. It is a fact that financial institutions require a guarantee for loans, thus eCoinomic.net will stand for such, thereby eliminating all risks associated with lending while providing total coverage of the loan.

3. eCoinomic.net platform brings banks, family, offices to its platform, with its business model offering a low-risk profitable investment which in the long run brings more liquidity to the crypto space through such investments.

ECOINOMIC.NET PLATFORM

eCoinomic.net platform offers financial services to crypto assets holders through the following ways;

a. Investment and asset management,

b. Fiat loans with collateral being cryptocurrencies,

c. Exchange,

d. Transaction settlements between users and projects.

Features of eCoinomic.net Platform

1. Price-monitoring system: This makes sure collateral value is always up to date, through collecting information from other crypto exchanges.

2. Multicurrency: Top 10 cryptocurrencies will be used as collateral while USD, EUR, GBP, JPY, CHF, CNY will be used for loan issuance.

3. Insurance reserve fund: The purpose of this is to ensure well-coordinated project for large and small investors.

4. Security and transparency: With eCoinomic.net being a blockchain-based platform funds are secured which is made possible through the use of smart contracts which regulates the procedures involved in blocking, returning as well as liquidating collateral assets.

5. Fiat money transaction speed: Crediting time for fiat funds takes minutes which is made possible through the use of built-in payment agent.

6. A fully functional alpha version will be available for testing after the pre-sale is concluded.

ECOINOMIC TOKEN AND TOKEN SALE DETAILS

eCoinomic token CNC is an ERC20 token built on Ethereum blockchain. It is a utility token with the total supply of 2,100,000,000 used for payment of service fees on eCoinomic.netplatform.

CONCLUSION

eCoinomic.net aims to provide its users with financial management services of the digital assets, services such as;

a. Lending: eCoinomic.net provides secured and unsecured loans based on cryptocurrencies and fiat money,

b. Investing: eCoinomic.net provides long-term and short-term investments in fiat and cryptocurrencies,

c. Hedging: eCoinomic.net provides a system for hedging of exchange rate risks for crypto assets,

d. Crypto Exchange: eCoinomic.net included a function which helps in managing collateral assets,

e. Crypto payments: eCoinomic.net will support payment agents with virtual card issuance. eCoinimic.net also aims to be integrated with the likes of eBay and Amazon.