ABLE: Revolutionising The Banking Sector With Blockchain Technology

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The world of today is controlled by a centralised system, where one or just a few people dictates and calls the shot. The financial system is not excepted in this. The financial system such as banks, stock exchanges etc take on investors asset (fund) within their care and put to use with(out) the consent of the clients. They give loans to the clients and charge exorbitantly in the form of interest. The centralised system is accompanied with couple of challenges, which are:

Excessive bureaucracy (paper work)
Delayed transaction processes
High transaction fees
Unneccessary charges paid to intermediaries/middleman
Client's data is exposed to frauds via cyber crime

To distrupt the centralised sytem in the world and financial industry in particular, Nakamoto Satoshi in 2008, launched the Blockchain Technology. The Blockchain Technology is a decentralised, transparent, secured, effective and efficient ecosystem that stores data and transaction details on the blocks. Since inception of the technology, users all over the world have enjoyed speedy confirmation of transactions within seconds, low transaction fees, secured user data as well as elimination of middleman.

The ABLE project provides a lasting solutions with loaning - deposit in the conventional bank, and nontransparent and unified digital assets, constructing the arrangement with respect to the transparency and unwavering quality of a blockchain ecosystem. The ABLE venture is the digital currency particular monetary arrangement that gives digital currency budgetary items through peer-to-peer loan matching frameworks and decentralized trades.
ABLE is here to properly integrate the blockchain technology in the financial system.

ABLE account, which derives from the fact that banking activities are mainly carried out through bank accounts. Users propose the interest rates of the loan through a counterpart system, eliminating the deposit margin of the loan by directly connecting users on a peer-to-peer basis.The ABLE venture underpins decentralized trades and gives decentralized digital currency resource administration benefits through smart contracts. ABLE plans to advance towards the ABLE environment through its incorporation with outer frameworks, including basic installments.

THE ABLE PLATFORM SERVICES

CREDIT ASSESSMENT: The credit evaluation can be based on the fact that blockchain data can not be altered. In the initial stages, credit scores are generated based on the chronology of the completion of wages through smart contracts and the amount of income in cryptocurrencies. Then, depending on your credit scores, the option to allow advance salary payments will be added. The credit scores will be refined by credit rating technology based on large data and external credit score.
CREDIT LOAN BASED ON SMART CONTRACT FOR SALARY PAYMENT: Based on the existing smart contracts for payment of salary, users now have access to loan as credit loan are added as an option to the payment options by using the credit score within the account.
SALARY PAYMENT SMART CONTRACT: Generally, labour services are based or measured in terms of hours of work put in within days or weeks afterwhich the smart contract will be processed to effect payments of such salaries weekly, monthly or on yearly basis.

ABLE APPLICATION
The ABLE application makes it easier for users to create an ABLE account, transfer money as well as use designed products integrrated on the smart contracts. The ABLE application layer is accessible on the website as well as smartphones (IOS and Androids), which is easily accessible by everyone irrespective of locations.

For more info about Able Project, kindly visit any of the following links and channels:

Website: https://www.able-project.io/
Whitepaper link
https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
Medium — https://medium.com/@ableproject
Facebook: https://www.facebook.com/ablecoinproject/
Twitter: https://twitter.com/Ablecoinproject
LinkedIn: https://www.linkedin.com/company/able-bank/
Youtube: https://www.youtube.com/channel/UChRc3KUemnVI-riPFAIOntg
Instagram: https://www.instagram.com/ableproject_official/
Github: https://github.com/ablebank/
Reddit: https://www.reddit.com/r/ABLEproject/
Telegram: https://t.me/ABLE_Project_EN