In the first and second Article Well, the review of the eCoinomic platform is coming to an end smoothly, therefore, as we promised in the previous part of the review, the final article will be devoted to how exactly that solution will be achieved that will allow the platform to act as an intermediary and guarantor of the reliability of the transaction between the lender and the client .
In a nutshell, we recall that one of the main tasks of eCoinomic is to confirm the possibility of a crypto currency to perform the role of an effective and reliable collateral in the process of granting loans in the form of local currency. In addition, the platform provides tools for managing a crypto-currency portfolio, but they are all related in one way or another to lending through the eCoinomic service.
Smart contract as an intermediary
So, in order. As you could already understand, there are two types of platform participants. The first is those who provide the loan (various financial institutions, banks, funds and so on). The second kind is clients from the circle of participants in the crypto-currency market, that is, those users who use the platform to obtain a loan in a fiat currency.
As we have already said, one of the ten basic crypto-currencies or CNC tokens that can be sold as part of the krausejla, whose participation will be the most sensible solution, can be pledge, since after it is completed, it will be possible to purchase tokens only by 20% higher than their current market value on the moment of purchase.
The commission, which is collected from the user in the process of obtaining a loan, will be carried out exclusively with the help of these tokens and will depend on the amount of the loan. So, for a minimum loan amount of $ 200, the user will have to pay $ 10 commission per CNC tokens, and for a maximum of $ 10,000 - a commission of $ 60.
A smart contract for ensuring the fulfillment of credit obligations is arranged very simply. A user wishing to obtain a loan must deposit a certain amount of crypto-currency, which is blocked in a smart contract, as collateral to guarantee repayment of the loan, after which he instantly receives a loan in a local fiat currency. The further course of events depends on the success of repayment of the loan.
If the credit obligations are fulfilled successfully by the client, on time and in full, together with the commission (interest), then blocked as a pledge of the crypto currency is returned to him in full. The loan is considered to be covered successfully.
If there are any problems with repayment of the loan, then the scenario changes slightly. The blocked crypto currency (pledge) will be used for the timely repayment of the loan in order to provide the institution providing the funds with a full refund and fulfillment of all credit obligations.
The security deposit in the form of a crypto currency will be automatically exchanged for the amount that had to be paid to repay the loan. If after this there remains at least some part of the funds deposited as collateral, the crypto currency will be returned to the client in full.
Such a model will provide a 100% guarantee of successful loan coverage and not once confirm the effectiveness of using digital assets as collateral. Thus, the maximum trust between the creditor and his client will be ensured, in which the financial institution that lends money on credit is in such conditions that it can not be deceived in any way.
A look at the future
At the end of the discussion of the solution that eCoinomic offers, let's find out how soon the platform can be launched, and its credible and secure lending system is implemented. A lot has been said about the prospects of the project, because it pursues a very important goal that will approximate the global adoption of the crypto currency as a digital asset to secure loans in the form of collateral.
So, from April 3 to April 21, a prescription of CNC tokens will take place, during which users who are confident that they will use eCoinomic for instant loan loans will be able to purchase tokens necessary for using the services of the platform.
Immediately thereafter, they will receive confirmation of their expectations, as the pre-release will be followed by the launch of the alpha version of the platform, after which the main round of ICO starts, which will take place throughout May.
The full launch of the eCoinomic platform is planned for November of this year for early users and December for its other participants. Nevertheless, the work on the project will continue until 2020, so the platform will be replenished with the most effective tools that will make it the most demanded among all participants of the crypto-currency market.
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