ABLE - Simplified financial system for everybody

in #able3 years ago

  It's no secret that many people today use the services of financial institutions that provide Bank loans. For some, lending is an opportunity to get the desired material benefits, for others – a way to earn money is quite simple and easy. Unfortunately, banking institutions offer customers quite unfavorable conditions that hide payments, interest, etc.   

It is for this reason that the creators of the project ABLE are absolutely sure that the new decentralized platform is simply necessary in modern reality and will have a great success. Thus, the ABLE project was proposed as an alternative to conventional loans or bank deposits.  

  1. Banks have a business model that distributes loan deposits, which literally means the difference between interest rates on loans and deposits, in which the bank acts as an intermediary between depositors and borrowers. This structure allows banks to receive deposits at low interest rates and provide money on credit at high rates, winning their profits from the difference.
  2. Еxisting cryptocurrency-based banking services are provided through a centralized structure. Banks offer prohibitively high rates, while it does not guarantee the safety and security of data.  

  For these and many other reasons, the existing banking lending system may be considered outdated and not in line with modern reality. It is obvious that today we need a new lending system that would meet all the needs of the market and users.  

  Advantages of the ABLE platform  

  ABLE is a new decentralized platform based on blockchain technologies that will unite lenders, people who want to make a profit from deposits and want to get a loan on favorable terms. Among the advantages of ABLE are the following:  

  1. Each participant of the platform will be able to receive funds on credit, bypassing banking institutions that offer too unfavorable credit conditions for customers. 
  2. The loans that the participants will give to each other will have quite loyal interest rates, which will definitely be lower than in any bank. There will not be taken into account the cost of rent, salary of bank clerks and other expenses of banks, which they are usually happy to shift on the shoulders of their customers. 
  3. All transactions will be conducted on the basis of mutual trust of participants. Choosing the lender, you will be able to receive about information him, which confirms his integrity and honesty.   
  4. The system guarantees not only the security of each transaction, but also the security of all data that participants will save in the system. Innovative technologies make it possible to guarantee that it will be almost impossible to break the system, which is not true of similar databases of traditional banks.  

  All this literally means that the new lending system proposed by the developers of ABLE, can become a serious competitor to the existing banking system, as such loans will be focused on customers and promise to be quite affordable.  

  ABLE structure and platform features  

  The structure of the platform ABLE will be quite simple and transparent, based on smart contracts, which, in fact, will guarantee security. In the structure it will be possible to select the following directions:  

  • Deposits;
  • Loans;
  • Investments.

  Accordingly, the platform will perform the functions of an investment project, as well as provide an opportunity to form the most profitable offers on deposits and loans.  

  Who might be interested?  

  The new platform will attract interest to many people who, one way or another, work in the field of financial services and instruments:     

  • Creditors;
  • Investors;
  • People who want to get a profitable loan;
  • Developers, etc.

  If we follow the project roadmap, the project will be fully implemented by 2020 and then all the necessary tools will be launched for the cooperation of all participants of the new platform ABLE.  

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Hey @mak2017 quite detailed and useful article. But this concept is not unique as there are already few companies working on it. They building up platform where lender and receiver connect and execute the transaction without bank involvement. The difference is that they are not based on blockchain technology. This blockchain will help ABLE to make it translate and robust mechanism. I also belive that bank should not worry of cryptocurrencies as croro can make payment faster but people will need bank for many other services as well. Whats your views on this buddy?

Yes true, there are already a number of projects on the market who are doing same thing as ABLE. But as you also mentioned, ABLE project will use blockchain technologies to eliminate all kind of 3rd parties involved as well as make borrower and lender direct contact. I do believe that ABLE has quite a good chances to take their niche in this industry as finance market is very huge, so there will be a piece of pie for everyone who brings their concept to life at the best way.

Completely agree with you. Worth sharing this info.

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nice woooow amazing

Our work has begun for you and your post.

Creditors and borrowers will surely find this platform very effective for the fact of affordable loans on favourable conditions.

ABLE is aiming for a large market - financial. Hoping that they will take their niche in this field.

Thanks for your review @mak2017 ! I believe that this project is a good investment for long term as financial startups definitely need time to develop to bring great profits, i’am in!

Looking very promising, will be studying their whitepaper and making my final decision. So far i very much enjoyed reading that review.

Wow! Awesome project it has caught my attention for sure, will be following them. Thanks @mak2017