Introduction
The rapid development of blockchain technology has reached the financial service sector and has triggered a movement to cryptocurrency involvement into the banking and financing. Cryptocurrency status is still uncertain in most countries, however at this point a global acceptance of the crypto assets seems to be a question of time only. cryptocurrency has a new perspective type of collateral that can change and develop the market of secured loans tremendously. It is difficult to weigh the importance of this shift in the lending practices and technologies as it supports the growth of the crypto world beyond the economic limitations of simply buying and liquidating assets, providing individuals with increased purchasing power given by crypto-backed loans and great potential for crypto-asset.
The fast growth of the value of digital assets creates a dilemma for their owners: on the other hand they require funds for business development / renewal of miner hardware / improvement of their living conditions, and they also seek to preserve their cryptocurrency with the aim to increase its value significantly and in a short time. Getting a loan in cash requires time for considering an application, collecting additional documents, assessing the collateral or presenting a guarantee. Ultimately, the bank can deny the loan due to an inadequate or unfavorable credit history. Currently, digital assets are not widely recognized as financial assets and therefore cannot serve as collateral. At the same time, selling cryptocurrency for short-term cash withdrawal and then repurchasing it becomes a risky and unprofitable measure due to a high volatility and commissions of intermediaries.
HOW IT’S SOLVE PROBLEMS
The platform is based on the Ethereum blockchain. And its creates a global network that lends fiat money to individuals and small businesses using crypto assets as a collateral. The main team of the project consist of professionals and skilled individuals who have more than 10years experience in fintech industry and software development. eCoinomic.net belongs to the Sauber group - a consortium of companies working in services, financial and fintech industries, established in 1992 and reorganized from one of the USSR Banks.
To show eCoinomic.net credibility in the service, finance and fintech industries, 96% increase has been recorded in its sales revenue within the period of August, 2015 - August, 2017. That is to say that in the space of 2 years, they've made 96% revenue on sales. Also it has 29 months operating and investment costs recovery, customer retention rate at 76%, resulting in 23% ROI(Return On Investment) at the end of 2017.
Other services provided by eCoinomic.net to its customers include :
- fiat loan backed by cryptocurrency as collateral.
- investment and asset management.
- exchange( selling and repurchasing of cryptocurrency)
- transfers and mutual settlements between users and partners project.
The eCoinomic.net has a network that consists of two parts namely :
Lenders
Lenders are financial institutions (investment banks, family offices, funds) that provide some of their funds for eСoinomic.net. Lenders provide loans in fiat currencies and eСoinomic.net guarantees the return of the loan and interest by it’s Reserve. Thus, eСoinomic.net provides an opportunity to invest in cryptocurrency market safely.
Borrowers
Borrowers are individuals or small businesses that are willing to receive a loan using their crypto as a collateral. Borrowers need to have CNC tokens in order to use eСoinomic.net platform.
MEET THE TEAM
Find below a cross section of some of the ecoinomic.net team members, they have taken upon themselves to see to the success of the ecoinomic.net project. For more info about them kindly visit the links below
If you would like to learn more about eCoinomic check the links below:
Website: https://www.ecoinomic.net/
Whitepaper: https://ecoinomic.net/docs/whitepaper
Presentation: https://ecoinomic.net/docs/presentation
Social media
Facebook: https://www.facebook.com/ecoinomic/
Twitter: https://twitter.com/Ecoinomicnet
Telegram: https://t.me/ecoinomicchannel