eCoinomic - A digital platform which provides financial services to cryptocurrency holders.

jamesndungu (61)in #ecoinomic • 6 years ago (edited)

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I started investing in cryptocurrencies since 2015, I have been holding my assets for the past four years because most of the projects have not realized thier goals and some I believe have more potential and room for growth. With this is mid I don’t want to sell any of my assets but sometimes I'm in really need of cash, what to do?

Blockchain technology has the most innovative minds that works towards revolutionizing the financial industry, one of the promising projects that plans to solve my problem is eCoinomics they plan to bridge the gap between cryptocurrency assets holders and financial institutions through offering the possibilities of people like me access loans through its platform that acts as an intermediary between financial institutions and borrowers.

The market has a demand for cryptocurrency-based loans, with cryptocurrency assets as collateral. ECoinomics is differentiating itself from competitors by using institutional investors as lenders as the main lenders to ensure availability of financing for the high loans service demand market.

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Due to the volatility of the cryptocurrency market, the platform plans to offer loans that have a maximum duration of 30 days, lending against crypto assets has seen grat demand where the holders prefer to hold their assets instead of selling the for-financing purposes. The trend is witnesses in both bears and bulls market conditions which guarantees and all-time favorable business environment for ecoinomics.

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In order to operate in a decentralized environment, the platform plans to provide financial services using the power of blockchain technology smart contracts and distributed ledger technology to allow autonomous financial services such as loans services, assets management, exchange and money transfer through an online platform that is easy to use.

How it works:

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It's important to note that eCoinomics will not be offering any financial service but instead work as an intermediary between the parties involved. The main purpose of the platform is act as a guarantor, witness and financial records manager through the use of smart contracts and distributed ledger technology. eCoinomics allows all financial transaction to be processes automatically using smart contracts in a decentralized environment. The use of smart contracts in the platform will ensue, security, trust and confidence when using the platform.

The process of using smart contracts and cryptocurrency assets as collateral will minimize the risk between the borrower and the lender, allowing the borrower to access instant loans through a click of a button. eCoinomics differentiated itself from its competitions by allowing borrowers to use a wide range of cryptocurrency assets as collateral, they include: BTC, ETH, XRP, LTC, BCH, EOS, NEO, ETC, ADA, TRX, DASH and CNC — our own cryptocurrency.

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eCoinomics will also support major fiat currencies such as EUR and USD when the platform launches, they promise to add more currencies such as GBP, JPY, CHF and CNY as upgrades in their upgrades and as the platform operates.

Personally, I like the platform business model, they have understood the problems cryptocurrencies holders face and are addressing the problem with a solution that promises real time loans monitoring and a dedicated insurance fund, this puts eCoinomics ahead of the game.

What is a CNC token?

CNC tokens are tokens uses in eCoinomics platform, they are used in the network mainly to to pay for financial services processing fees, payment of commissions. The idea of tokenizing the platform through creating its tokenized economies will allow the platform to tap a wider market in a decentralized environment allowing cost effective processing of micro financial services.

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Conclusions

eCoinomics is one of the innovative projects with a great business model, they understand the demand of loans with cryptocurrency assets as collateral, their use of smart contracts technology will instill confidence in their platform users and the automatic loan processing will put traditional financial institutions will be our past where loan processing used to take several days. I would really love to use the platform one day, with the promise of Implementing the roadmap – this might happen even sooner.