SWAPY NETWORK

SWAPY NETWORK!!

Whats up my dear friends of blockchain, today I am gonna tell you about a pretty good project, which is called The Swapy Network!!!

Technology is very useful for everyone, especially in the world of economy. The concept of economics has advanced rapidly now penetrated into the digital world. Even for a payment can be done with a digital currency we call cryptocurrencies. The growing cryptocurreny can be utilized for the benefit of everyone who is involved in it.

You all know that the money bill no longer rule the world in the near future. Did you know that, in five years you will pay for all your online payments in cryptourrencies? This thing might seem you a bit crazy at the moment but this thing is happening already. There are a lot of shops at the internet accepting cryptocurrencies already. Even some people are selling their houses, cars or staffs for cryptocurrencies.

So, Swapy Network!! Let’s talk more about it…

What is Snapy Network…!!

Swapy proposes 3 interconnected medications that facilitate people’s universal access to credit with a decentralized protocol.

These applications are:

1. The Swapy Exchange, which aims to connect smart money to emerging economies. It will introduce international investors from countries where the interest rates are comparatively low to credit companies in countries where the interest rates are comparatively high, providing better returns to the investors and lower cost capital for the credit companies;

2. Swapy Financial ID, which aims to empower people, giving them a financial identity that has the purpose to be valid anywhere in the world;

3. Swapy Data Market, which aims to transform users’ financial data into self-determined value through a token-based system.

The Swapy Financial ID The Swapy Financial ID aims to be a digital financial identity valid in any country. Its purpose is to eliminate the information asymmetry, as well as improving the data integrity and privacy. The key characteristics include:

One KYC to rule them all: The onboarding process for financial services companies has to follow an Anti Money Laundering (AML) and Know Your Customers (KYC) procedure. For the client, it means that he/she repeats the same process every time he wants to join a new service. He or she has to:

1. fill all the information,
2. upload documents,
3. upload a proof of address and
4. validate his/her mobile phone in a 2FA (two factor authentication). By using the Swapy Financial ID, users will only accomplish this process once.

Financial history portability: The information provided by the individuals to create their self-sovereign identity will be organized as a Merkle Tree, stored at a decentralized storage and the root hash of the tree will be recorded on the Ethereum blockchain. The information will be accessible to whomever the ID owners authorize anywhere in the world. The Swapy team expects that this feature leverages the credit history portability. Therefore, if our plans become a reality, a migrant going to a new country can provide their credit history to banks and credit companies, and thus have access to lower rates and customized services according to their profile.
Swapy Tokens develops three decentralized open source applications that can be used in the following places: (1) Swapy Financial Identity, (2) Swapy Exchange, and (3) Swapy Data Market. Our concept is shown in Figure 4. Based on Swap Financial !!

Twitter: www.twitter.com/SwapyNetwork • Telegram Channel (Announcements-only): www.telegram.me/SwapyNetwork • Telegram Group (Open Chat): www.telegram.me/SwapyNetworkChat • Facebook: www.facebook.com/SwapyNow • Linkedin: www.linkedin.com/company/10619437 • Blog (Medium): www.medium.com/@SwapyNetwork • BitcoinTalk (Forum Thread): bitcointalk.org/index.php?topic=2372636#swapynetwork