Currently, the world is moving rapidly towards the more tech-oriented economy. In today's world data and credit has become so vital that it is now so difficult to do anything without having access to it, but still, one major issue is halting the world to jump into the new era of technology and advancement is that people at large still don’t have any access to it.
According to the report of Global Findex, approx. 2 billion people who are working and adults all around the globe most importantly they are from developing countries, have no access to any type of formal financial services being provided by regulated financial institutions especially banks.

Root Causes:

Problems in it are very simple but ignored by the governments, a major cause of this the issue is interest rate difference between countries, Data Access and ownership irregularities, data reliability, expenditure of servicing credit. Absence of affordable banking services is making the scenario worst because banks have high capital cost and provide less incentive to generate credit chances to these unbanked people.
Block Chain Technology & Swapy Network:
Block Chain Technology mainly aims to solve Problems related to finance. The Team of Swapy Network aim to create a One “Universal Access to Credit” System/Network to aid financial inclusion and provide a credit opportunity to boost their financial power and standard of living of people especially underprivileged people

How Does Swapy Network Aim to Solve the Problems?

The Swapy Network is an open source project based on a decentralized protocol, which aims to connect the various key players of financial system with the help of block chain technology and decentralized features

1. Mortgagors/Borrowers
2. Creditors (Banks etc.)
3. Insurers (Guarantee providers)
4. Data Providers
5. Data Consumers
   Swapy Network ecosystem will enable all the key players of financial world to offer or consume services within the ecosystem of swapy network and collaborate with the others, it will bring down the prices of financial services and will allow consumers as well as service provider to trust each other, resulting new entrants to financial industry

Commitments of the Swapy Network:

1. Committed to facilitate credit offers to lower the capital costs.
2. Committed to eradicate information irregularity between participants by providing a commonly shared and updated data network.
3. Committed to provide better data so that credit companies will be able to make better lending decisions and can offer lower rates to trusted clients.
4. Committed to encourage low cost capital and enhanced information, which can decrease entrance obstacles for new companies.

The Fees to Operate:

The Ecosystem Fees will paid in shape of Swapy network Tokens called as SWAPY, by this token holders are enable to have access rights to use Swapy Network. They will be benefiting from it and will contribute to the network.

The Swapy Token (SWAPY)

The Swapy Token (SWAPY) based on ERC20 and the basic unit of value in the Swapy Network. 1 unit will have 18 decimal points, which means that the lowest value one can hold is 0.000000000000000001 SWAPY

The Swapy Token is a utility token and mainly it will used to

(a). Pay for the individual’s information
(b). pay services in swapy network
(c). used as security when requesting loans

Currently Swapy team is working to develop applications that will enable all these features through the decentralized block chain technology. Team of swapy network is very optimists that swapy network will achieve sustainability and will promote issuance of trusted new crypto currency promoting benefits to the elements of the Swapy Network.

Decentralized applications (dApps):

The Swapy team is working hard to build three decentralized open-source applications

(1) Swapy Financial ID
(2) Swapy Exchange
(3) Swapy Data Market.

Swapy Exchange

Swapy Exchange is market-based solution for more global efficient markets. Each Country has its own model of returns on investments.
Swapy Exchange App will enable smart contracts and the block chain technology to bridge global investors from countries where the interest rates are minimum as compared to countries where the rates are very high. It will provide better returns to the first one and minimum cost capital for the second one.
Alpha Version of Decentralized Application for Swapy Exchange is launched. You can download and test its Alpha Version at https://www.swapy.network/download

Swapy Fin ID:

Financial Id of Swapy Network authorize individuals, by giving them the power of a worldwide financial identity, which is valid and acceptable anywhere in the world at any time.

Swapy Data Market:

Swapy Data Market helps to transmute user's financial data into value for the data owners. Now, every person can hold their very own data and choose how much tokens they receive in exchange for it, when they want to share, and for whom.

Website: https://www.swapy.network/
GitHub : https://github.com/swapynetwork
Twitter : https://twitter.com/swapynetwork
Facebook : https://web.facebook.com/swapynow/
Telegram : http://telegram.me/swapynetwork
Linkedin : https://www.linkedin.com/company-beta/10619437/
Blog : https://medium.com/swapynetwork
Ann Tread BTT : https://bitcointalk.org/index.php?topic=2372636.0

About Author :

The Author of this article is Amir Shahzad (https://telegram.me/meaamir), Who is Leading analyst of crypto currencies and ICO’s. He is one of intial members of Bounty Hive platform.
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