ABLE - Banks are a thing of the past!

rommil (25)in #btc • 6 years ago (edited)

Hi there, dear readers.

Currently, all financial transactions are carried out through intermediaries, in the form of banks. The current financial system is stagnating and not developing. A huge number of people around the globe do not even have access to financial institutions. According to the international bank, about 3 billion people are deprived from the possibility to use banking services! The banking model is built in order to earn on the difference between a deposit and a loan. To put it simple, it turns out that banks redistribute funds from deposits to loans and put the difference in their pocket. Consequently, the end user (I mean all of us), get higher interest for financial loans and small deposit rates.

But what if there was a technology, capable of removing these greedy intermediaries... Just imagine how affordable financial services would became!? Such a technology exists and its name is Blockchain, it is a decentralized data storage and processing system that does not require central servers, offices, directors, employees, etc. The project, we’ll discuss further, is based on the Blockchain technology and has a lot of advantages, in comparison with the banks.

ABLE is a global decentralized financial system that allows you to interact with each other remotely, quickly, and without intermediaries, by providing financial services to each other. The project team is working hard to create a universal decentralized model, where users themselves determine key rates, where everyone can feel the benefits and convenience of working with finances without intermediaries. The ABLE project will work by means of linking the borrower and the lender to ETHEREUM smart contracts. Vitalii Butherin's network is considered to be one of the most reliable of all existing Blockchains! This will help to avoid various kinds of trouble that are quite frequent in a centralized model, for example, hacking software, hacking central servers, stealing documents, employees’ fraud, and so on.

The main currency on the platform will be the crypto currency, however do not be afraid of strong volatility, the platform will use its StableCoin "ABLE Dollar" tied to the US dollar. At the initial stages, the ABLE project will have a number of functions that will be significantly expanded in the future:

• Investments - the ability to earn by issuing a loan at an approved percentage

• Loan - the ability to obtain a loan for any needs at an approved percentage

• Point system - timely repaid loans give bonuses to decent borrowers, repaying the loan on time and on terms, borrowers will receive points that will give discounts on services

• Wages - the platform can be used to pay salaries to employees in the crypto currency, all transactions are carried out through smart contracts and fraud is impossible

• Conducting and investing in ICO-ABLE will allow ICO to be conducted, and investors will be safely invested, all transactions will be conducted using smart contracts and distributed according to a pre-approved scenario, which will eliminate fraud.

ABLE users will be able to receive loans on bail of their crypto assets, receiving in return a stable ABLE Dollar. Thus, users will keep their investment in the crypto currency untouched, it may be necessary, for example, for a miner to cover all equipment costs. Inside the platform there will operate its own decentralized exchange ABLE DEX, which will undoubtedly reduce the risk of losing crypto currency, in contrast to centralized exchanges.

On the ABLE platform, two types of tokens will be used as currency, ABLE COIN and ABLE Dollar. The first will serve for paying commission fees and VIP services giving various bonuses. ABLE Dollar, in turn, will be used to pay interest and as a stable coin, which is clearly required while working with high-volatility crypto-currencies. The initial ABLE COIN issue will equal 25 BILLION coins, the total number of ABLE Dollar will be 1 BILLION. The POS consensus algorithm, the minimum number of coins to run the mining is 20 MLN ABLE COIN.

As part of the ICO, the team will sell 60% of all ABLE Coin tokens, which equals 15 Billion. The remaining tokens will be distributed as follows:

• 15% Reserve Fund

• 10% Team

• 10% Advisors and Sponsors

• 5% Advertising and partnerships

• Cost of tokens 1 ABLE = 0.00215 $

• HardCap - 11 000 ETH

Summing everything up, I would like to note a few positive points. The project is supported by an experienced team of specialists from South Korea, which includes programmers, developers, financial experts, marketers, designers, etc. At the time of this writing, more than 11,000 airwaves have been collected, which means that the collection goal was completed and the project successfully launched! Most of the funds were collected in the shortest time in South Korea, which will undoubtedly have a positive impact on further promotion and support within the country. In the nearest future, before the end of the year, the team plans to enter several crypto-exchanges.

Read more about each member of the team, study the technical document in detail, and see the development plan for ABLE, you can on the official website.