INTRODUCTION
Finance as we all know is basic to the smooth running of man's day to day activities worldwide, as it entails buying, selling, exchange of materials can be money for services and also boosting a country's economy and same applies worldwide.
Knowing fully, all the contributions the finance industry makes to the growth of the economy worldwide, we can agree that maximum attention be given to this industry as the total negligence of this industry would result in catastrophe.
Unfortunately the financial industry despite all the attention and effort put into it still faces numerous challenges even in our world today, this has resulted in many losing faith in the banking system and hence the absence of trust.
LARGO PLATFORM - AN INSURANCE SYSTEM CREATED ON THE BLOCKCHAIN
LARGO platform is a system that has tapped into modern technology all to the restoration of trust in the global financial transactions ensuring that their system is secured and trust based.
It was developed based on the Blockchain, as a way of ensuring that all the financial transactions carried out on the platform are successful.
Largo is designed to be an insurance platform that uses sophisticated tools like the cryptocurrency and the blockchain, all to ensure improvement in financial transactions worldwide, breaking the boundaries placed on digital transactions and making it more secure to trade with strangers.
Insurance Functions Of The Largo Platform
On the Largo platform, sellers do not trade directly with the buyers so as to avoid any fraudulent act by either party, so once they have enlisted the services of the platform during transactions, security is assured.
Because this great system breaches the gap between buyers and sellers, the buyer for a particular item makes payment for the product, together with the insurance charge into the Blockchain infrastructure of the system, which transfers the LRG equivalent of the payment into the digital assets wallet of the buyer.
When the buyer confirms the receipt of the product, the seller sends back the LRG coin to the Largo system and then receives the real payment for that product, and if the buyer never got the product, the system then unlocks the coin on the buyer's wallet, for the buyer to withdraw and exchange it back to their actual fund, on the tradeable exchanges.
WHY YOU NEED THE LARGO PLATFORM
Largo platform helps make your transactions guaranteed and reduces the rate of fraud experienced during digital or cross-border transactions.
The use of Blockchain by this great system, helps to protect every user data as well as details of transactions entered into it, making it tamper-proof and reliable.
It also possesses a feature called transaction finality, that eliminates the problem of double spending or waste of funds and then improves digital transactions.
The speed of carrying out insured transactions on the Largo system is marveling as it is facilitated by the Blockchain, reducing the time a user has to wait for their transaction to be executed.
The fee for escrow or insurance on the Largo system is very low, in a way that will leave the buyer with more profit after the deal.
THE TOKEN
The platform has also developed a unique cryptocurrency that has been widely accredited to be the currency of the LARGO platform.
This coin is a Blockchain-based cryptocurrency that is Ethereum based and is called the LRG coin.
The coin ensures that its holders would be able to carry out numerous transactions with great speed and reduced cost on the platform.
CONCLUSION
Having highlighted all the many benefits the LARGO platform is set to bring to the finance industry we can all agree that the platform has the interest of the finance system at heart.
Using modernized technology like the blockchain the platform is ready to push the finance industry to its zenith.
USEFUL LINKS
Website: https://largocoin.io/
Whitepaper: https://largocoin.io/wp-content/uploads/2019/06/WP-v4-converted.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5200762
Telegram: https://t.me/largocoin_chat
Twitter: https://twitter.com/largocoin
Facebook: https://www.facebook.com/LargoCoinPublic
Medium: https://medium.com/@largocoin
Reddit: https://www.reddit.com/r/largocoin/
AUTHORS DETAILS
Bitcointalk Username- Heroalt
Bitcointalk Profile link- https://bitcointalk.org/index.php?action=profile;u=2768763;sa=summary