The ABLE ecosystem is a decentralized platform that works on blockbuster technology. The main objective of the project is to create an effective tool with which you can manage private capital and crypto financial flows.
The original strategy of developers was to create a quality and working tool that could solve two pressing issues of our time:
Work on the principles of decentralized distribution.
Become a good alternative to the standard banking business model.
Traditional banking institutions act as intermediaries. That is, they take money from the population at low interest (deposit) and give the population a high percentage (credit). Thus, a margin is obtained that allows you to make profit both for those who deposit finances and for banking institutions. The centralized system, too high rates, the lack of working decisions and legislative framework that would allow seamless integration of the crypto currency into the cash settlement - all this became a precedent , which served as an impetus to the creation of a fundamentally different ecosystem. The ABLE model was created in order to solve all these issues.
Based on the existing technology of blockage, the project developers are going to create a special ecosystem. The principle of the mechanism is simple and complex: the program code will create queries, forming coincidences of investors and borrowers. A sort of - scoring loans on a peering basis. The communication between the borrower and the lender will be made directly, without involving third parties. The negotiation of interest rates will occur between the participants, therefore, it is expected that the cost of the loan will become more flexible. So, investors can independently determine the cost of their services. While borrowers will be able to find the most beneficial offers for themselves. This freedom of choice is only available with a decentralized method of budget allocation. It is impossible to say that the idea is absolutely new. In fact, in the world of crypto-currency platforms there are already several working tools for lending. However, current offers are still built on intermediary services. The ecosystem, which could unite the creditor and the borrower directly yet. Therefore, the ABLE project is unique.
As already mentioned, ABLE is a decentralized platform built on blockbuster technology. The ETH tokens act as the working system currency. Since the purpose of development is not only the creation of a decentralized system, but also the formation of a full-fledged tool for managing finances based on blockbuster, several stepwise steps of implementation are expected:
The combination of decentralized blocking and management of financial flows.
Organization of an internal decentralized exchange.
Create a platform with the ability to use smart contracts.
Ability to create accounts on a peering basis.
The basis of the system is Ethereum. It should be noted that interfaces are dedicated APIs for the ABLE project. In fact, they completely repeat the functionality of the Etherium and supplemented with unique algorithms for performing banking operations, in particular, for managing private capital through a framework.
The system consists of several types of smart contracts:
Salary smart contract is a quantitative estimate of the hours that will subsequently be charged on a permanent basis (optional).
Smart contract for state management - robotic intelligent algorithms allow you to create tools for portfolio analysis, strategy building.
A financial smart contract is the main component that provides various types of loans.
It is expected that the carrying out of the credit evaluation will also be based on the data of blocking books, which can not be manipulated. The initial indicator will be a salary smart contract, and in the future - the generation of a credit rating based on the persistence of receipts, credit history, the amount of advance payments and other financial information.
To ensure loans, it is planned to create specially integrated tools within the ABLE business model. Thanks to the use of the peer-to-peer system, it is expected that the level of liquidity will be sufficient. The ecosystem is implemented through smart contracts that can provide short-term and long-term rates for operations. A variety of choices will reduce volatility and allow to form a competitive market environment.
The main objective of the ABLE project is the solution of actual problems for many with the traditional banking sector. In fact, at the moment on the world stage several participants try to seize the sector of crypto-currency lending, but who will take the first place is not yet clear. Since the developers and creators of the platform are Koreans, the product is imprisoned specifically for the Asian market. This is evidenced by the PoS, which is implemented in the system.