eCoinomic: Crypto Backed Lending Platform

cryptrex (46)in #blockchain • 6 years ago (edited)

Loans can come in handy when we are pressed with financial obligations that are to be met. Obtaining loans from lending institutions involves a lot of middlemen, bogous collateral requirements, the process is time consuming and in some cases even after meeting all the terms, the loan application still end up being declined. The lack of platforms that provide loan services backed by crypto force people into liquidating their crypto assets in order to meet their financial needs. It doesn’t matter if the market is favourable or not depending on how dire the need is. As a result many long term investments are liquidated very early and end up in loses.

eCoinomic Solution

eCoinomic is a blockchain based platform providing various financial services for crypto assets, the platform aims to bridge the gap existing between fiat and cryptocurrency. eCoinomic platform offers a wide range of services such as loans, exchanges, transfers, financial management, integrated online payment services and functions integrated. eCoinomic loan feature provides secured and unsecured loans in any of fiat and cryptocurrency. eCoinomic aims to eliminate the hurdles people go through in order to obtain loans from lending institutions and at the same time provide a lending platform that accepts crypto as collateral. Individuals and businesses who need loans for various reasons will be able obtain loans using their crypto assets as collateral. Leveraging on the blockchain secure, transparent, immutable technology, eCoinomic will be able to connect borrowers and lenders in a seemless, trustless, transparent and secure manner making sure that risks are eliminated while providing a profitable investment for the investors and an unbeatable lending service.

Apart from lending and borrowing, users can also invest in financial and crypto assets, the eCoinomic exchange platform provide users with a risk hedging mechanism for their crypto assets. Financial transactions, exchange solutions, and collateral management are also supported on the exchange platform. eCoinomic also offer online payment solutions and a direct integration with merchant giants such as eBay and Amazon, providing an easy payment gateway for goods and services. There is support for fiat transactions, virtual cards that can loaded with cryptocurrencies and used to pay for services.

CNC Tokens

To fuel the eCoinomic platform, CNC Token, an ERC standard token based on the ethereum blockchain will be providing various financial uses for borrowers and lenders on the platform. To access loans, user will need to have CNC tokens in their wallet. Also transaction fees on the platform will be paid for with CNC tokens.

Conclusion

A crypto based lending platform providing an extensive range of financial services. Users can borrow money at the shortest time without the usual complexities associated with traditional lending institutions. Gone will be the days of premature liquidation of crypto investment in order to meet financial needs. #eCoinomic will be able to achieve a market inclusion of both crypto and financial assets traders.