ABLE - Bank of the Future Based on Blockchain
Hello everyone, in this new post I want to introduce about ABLE project, and for more details let's just go to the following discussion:
ABLE developers seek to create future Banks on the basis of blockchain. The platform will provide financial tools to obtain a decentralized loan. The current financial system is a thing of the past, and the existing crypto banks still do not allow you to get loans directly from the lender. This is because the model mimics a conventional central bank system, which robs many users of the decentralized system of benefits.
The benefits of the project
The Bank serves as a liaison between lenders and borrowers. Thanks to low Deposit rates and high lending rates, banks generate profits. The idea of ABLE is to remove the intermediate link - Bank - from the chain. This will allow lenders and borrowers to agree among themselves regarding loan terms.
Traditional banks are centralized institutions that are more vulnerable to hackers than online banks. If Banks go bankrupt, both depositors and borrowers will suffer. The use of a decentralized model avoids the risks associated with traditional financial institutions.
In addition, the platform can be used to issue salaries, the ABLE developer wants to replace all the traditional financial instruments customers may need. All processes are based on the use of intelligent contracts, which will avoid fraud on the part of others.
ABLE ICO and TOKEN Details
The platform is planned to use two types of tokens, ABLE Coin and ABLE Dollar. With the help of ABLE Coin, you can pay a service fee, ABLE Dollar will be used to pay interest. Coins can be exchanged between them. The developers will release 25 billion ABLE Coin and 1 billion ABLE Dollars, the next unpublished coin edition. The network consensus algorithm is based on proprietary evidence (PoS), which has a number of advantages for investors.
In total, it is planned to sell 60% of ABLE Coin in ICO, which is 15 billion coins. Of the remaining coins, 15% will go into reserves, 10% will be taken by team members and funders, 5% will be given to marketers and strategic partners. For 1 ETH you can buy 40 000 ABLE Coin.
It has now passed two stages and two pre-sale stages of sales for Koreans.
There are two sales stages in the queue, where token will be sold to everyone:
The first phase will be held from 27 June to 10 July, the price of one token is $ 0.00205. Hardcap - 4 000 ETH, maximum token 12.7 million tokens.
The second stage will be held from 16 July to 10 August, the token price is $ 0.00215. Hardcap is 11,000 ETH, will sell 33.5 million coins.
To buy coins, it is possible to broadcast and bitcoin. The minimum investment is 0.5 ETH, no maximum limit. Coins will be distributed by the end of August. Among investors in Korea, the project is popular, the hardcap round of ICC is usually achieved within minutes.
Project has just started, there is currently no finished product or at least partially. By the end of 2018, P2P services will be developed. The entire 2019 year will be devoted to the development of major networks, financial platforms and ecosystems. The test launch is scheduled for late 2019, and by 2020 the platform will work at full power.
To find more relevant details of the ABLE project please follow some resources for the following references:
BitCointalk username: Aray80