The financial ecosystem based on the blockbuster "MoneyToken".
Blockchain technology is growing every day to bring new innovations that can facilitate the work and needs of many people, one of them is MoneyToken, platform for smart loans backed by crypto-assets. Where anyone can apply for a loan by giving crypto assets as collateral, such as Bitcoin, Ethereum and there are several other types of crypto.
This idea comes when a more complicated process occurs when applying for a loan to a banking or capital provider in general, so the people behind MoneyToken want to present an easier, fast and decentralized process.
The concept offered by MoneyToken attracted the attention of some cryptocurrency activists, one of whom was Roger Ver Founder of Bitcoin.com, adviser at MoneyToken, quotes from MoneyToken.com page.
“MoneyToken is a bright example of the real use of blockchain technology, as well as offering a massive boost for crypto market liquidity for all market players, and especially for businesses.”
Inside the MoneyToken platform, there will be 'Amanda' as a MoneyToken agent where it will manage and monitor the performance of its guaranteed crypto assets. Amanda is an artificial Intelligence Assistant who will provide automatic loan operations on the platform. Amanda will ask the borrower and oversee the whole process, starting from the loan applications until automatic status checks for payback, and will alert them to a margin call and some other functions :
- Consult platform users about any questions
- Help ITO MoneyToken
- Update registered users and investors on any news and information
Lending Model
The loan model MoneyToken allows you to see the fluctuations of the cryptoactive assets that will be used as collateral for the transfer of borrowed funds into a net currency or the so-called stable oil .You can see some advantages of this type of platform compared to conventional banking schemes :
1. The automatic credit confirmation rate will be executed in seconds or minutes.
2. Does not require conditions for credit assessment or asset verification.
3. You, as a Client, can control the terms of your loan yourself, and this is within the limits provided by this service.
4. Presence of several variants of storage of confidence that types of crypto-currency assets are neutralized at fluctuations.
pledge and lower upward pressure on interest rates.
5. The presence of a Transparent system in all operating units when making transfers or preserving a security deposit.
6. You will also be given the opportunity to transparently assess the collateral and fluctuations in its value at any time with your business friend.
How it’s work ?
let's imagine that Mike is the owner of the mining industry, he has a need that can not be postponed, and he has a future plan to buy the types of equipment for his needs, say that the cost is 500,000 US dollars. Mike will most likely sell Bitcoinnya and receive several fiat currencies, or maybe he will make a purchase for the equipment he needs in bitcoins, so the conclusion he can make is that he will lose his position in terms of investments.
What if the Bitcoin rate of exchange drops?
Credit funds are facilitated by guarantees. a money back guarantee of 30% to 70% (Rtc), which allows the customer to control it. A 50% ratio can be an ideal way of thinking when performing optimizations based on a retrospective analysis of the growth and fall of bitcoins.
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