The modern financial world wouldn’t function without credit
It is very easy to forget or appreciate certain aspects of your life when it’s something you and everyone around has always had. But without the access to credit and loans, the financial aspect of everyone’s lives would be so much more difficult. Not only would it affect you individually if you didn’t have those two things, it would ripple throughout the entire financial world creating even more difficulties for you. This is the reality many developing countries face today, there are even countries where more than 30% of the population doesn’t even have access to basic financial instruments like a bank account. In other developing countries, credit and loans are available but are extremely expensive with interest rates higher than 130% annually. A study revealed that if someone in the world becomes better off financially, everyone in the world does as well, so there is also something in it for you if this issue is fixed. So what exactly can be done about this issue? Luckily a revolutionary technology was invented a couple of years ago, you’ve probably all heard of it, blockchain technology. A project by the name of Swapy Network believes that they can solve this issue by giving everyone in the world access to credit through their platform and the use of smart contracts on the Ethereum blockchain.
Source: Swapy Network Whitepaper
How the Swapy Network will bring credit to everyone
At the moment, most loans and credit services are done within countries, but the Swapy Network opens up services on a worldwide scale. Consumers and lenders are able to connect and carry out deals with one another, regardless of geo-location. This means that service providers are not only competing with others in the same country, but with everyone in the world. This is great for the end consumer, as countries with extremely high-interest rates at the moment, will get access to credit and loans at a significantly lower rate. Individuals who at the moment aren’t even able to access these services will also be able to join the Swapy Network and find someone to do business with. Swapy Network is all about creating a better experience for its users, therefore users have the control over the financial data they create. You will be able to decide who gets access to your data, and how much you want in return for the data they get access to. This creates a truly unique financial environment where the power is put back into the hands of the consumer, not big cooperations who get to say what people can and cannot do.
To fund their project, Swapy Network is raising funds through an initial token offering (ITO), selling their ERC20 token SWAPY. SWAPY tokens will be essential to the use of the Swapy Network platform, as they facilitate all kinds of transactions from requesting user data, to collateral for loans. SWAPY tokens will also be of used to utilize their other service, Swapy Financial ID.
The pre-token sale started the 19th of March
The pre-token sale ends the 19th of April
The main sale will be held later
1 SWAPY = 0.65 USD
Bonuses apply to different phases, see the current bonus here: https://www.swapy.network/
- Total amount of tokens minted is 100,000,000 SWAPY
- A maximum of 50,000,000 SWAPY will be for sale during the ICO
- Hard cap is 30,000,000 USD
To learn more about the team and their advisors, visit the official website at: https://www.swapy.network/ or read their whitepaper here: https://www.swapy.network/SwapyNetworkWhitePaper-English.pdf
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1855321;sa=summary
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