Review ICO BLOCK66
Many of you have faced at least once in your life the issue of taking a loan or a loan from a friend or acquaintance. In most situations, taking a loan helps solve a lot of accumulated life issues in the shortest possible time. One modern credit system is full of nuances and shortcomings. For example, it takes a long time before you can apply for a loan in the bank. This is only a small part of the problems, on the whole way of taking loans you will be able to face a lot of pitfalls.
The authors of one very promising project called Block66 seriously planned to solve all the existing problems of lending. They are sure that the next stage in the development of the credit system is a complete transfer to the crypto currency. Let's take a closer look at this project.
The Block66 platform is intended for various lending to private and legal creditors of various levels. Any system user can easily obtain a loan package from the proposed lender. To implement lending based on this platform, developers use the technology of smart contracts, which helps to securely and quickly arrange a contract between the creditor and the debtor. To realize the liquidity of the crypto currency, all loans are issued as securities packages, which facilitates the work on the platform. Together, this system allows to increase the flexibility of the contracts themselves, allowing both sides to describe in more detail all the items of the contract.
Due to the fact that all transactions on the Block66 platform occur in the crypto currency, developers avoid the need to use settlement accounts, and also erase all geographic boundaries between counterparties. With the use of crypto currency for all transactions, the platform is able to completely protect both sides of the contract from fraud. For borrowers, this method will allow you to be fully confident in the safety and long-term relationship with the creditors.
Using the Block66 platform to take a credit package, the debtor and the lender save almost three times all the money spent, because using Blockchain technology, developers have reached the minimum commission fees for transactions. This platform aims to become one of the best and most large-scale platforms working to improve the global credit system. To attract funds, the borrower will use special smart contracts that will protect the entire process of obtaining a loan portfolio. All completed transactions will be carefully checked and stored in the system, which will ensure full transparency of the platform, as well as create a history of all site loans.
Let's take a closer look at all the presented functionality of the Block66 project. It includes the following items:
- creditors will be able to view all the detailed information about the debtor, which will allow them to take a decision on the issuance of a loan package.
- the debtor will be able to view the entire credit history of the lender, which will allow you to choose the best option for obtaining short-term and long-term loans.
- brokers will be given a special store, in which all the necessary functionality will be presented with borrowers and creditors.
Methods for solving the tasks assigned to the project
In order to solve all the working problems between the debtor and the creditor, the developers have qualitatively crossed all the functionality of Blockchain technology and smart contracts, which enabled them to improve the platform itself.Let's look at some of the principles that the Block66 platform will work on:
- overall planning of the entire platform, as well as the full distribution of all project functionality;
- creation of specialized offices for decentralization of management and TGE;
- the formation of an internal project for management, called Alliance;
- launch of the general testing of the project, as well as the formation of the first report;
- launch of MVP, which is the first chain for project control;
- check and launch the first credit package through the platform functionality;
- testing and commissioning of all the tools necessary to complete all credit transactions.
Due to all the advantages and opportunities of the Block66 platform, this project has attracted a lot of the largest investors in the crypto-currency world. Among them: Civic, BountyOx and Axpire. Support for these brands will help the project to fly very fast and scale.
The developers reported that the start of sales of their own crypto currency will be scheduled for August 2 this year and spill up until September 17, 2018. This crypto currency received the B66 marker and works with the Ethereum platform using the ERC20 standard. The main office of this company is located in Singapore, it includes the main developers of the project. In order for the project to be completely safe, each user will pass a special identification using the KYC system.
To a small regret, some countries will not fall under the zone of sales of this crypto currency. These include: the United States of America, the PRC, North Korea, Canada and Iran. The developers plan to release about 30 and a half billion B66 coins. In order to invest in the project money, you will have to use one of the main crypto-currencies. The exchange rate at the start of sales is: 1 B66 = 0.15 dollars.
In truth, there are a lot of problems in the world credit system that prevent ordinary debtors from receiving money in a short time. With the development of cryptographic technologies, projects appear that solve common everyday problems, the credit system in this case was no exception.
The Block66 project does offer interesting solutions in the credit system. The rapid receipt of an unlimited number of loans will allow the project to win respect and popularity among many users. I'm sure this project has a future.
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