Deal Coin and Deal Token – From The Largest Credit Broker in The UK
Most existing enterprises regularly require short-term and long-term loans. They purchase equipment, make necessary supplies, create infrastructure or simply pay wages in anticipation of money from customers. However, in many countries even successful and stable small and medium-sized businesses are severely restricted in access to finances. Interest rates range from a moderate 3.5% in the US to a marginal 50% in Brazil.
And even where the interest rates are sane, the process of issuing a loan can be delayed for weeks and months. In addition, companies can not obtain a loan from creditors who are not residents of the country where they are located. The largest credit broker in the UK – We Fund Any Deal – decided to correct this situation by creating a blockchain platform for connecting creditors and borrowers and releasing its cryptocurrency – Deal Coin and Deal Token.
Equal interest for residents of all countries
The interest rate will depend not on the country in which the enterprise is located, but on how solvent it is and how much the risk of non-return of funds is. So all companies will be in equal conditions in the ecosystem of Deal Coin, regardless of their location.
This will make the struggle for loans competitive, transparent and honest.
Absence of bureaucracy
The rules for issuing a loan will also be equal for all and will be much easier than when obtaining loans in fiat. Borrowers will only have to go through the KYC procedure and upload information about the asset pledged. Investors will also have to undergo the KYC procedure, after which they can negotiate mutually beneficial terms with borrowers.
At the same time, the loan will be formalized, insured and paid through smart contracts, which will enable easy audit and eliminate the risk of credit scam.
One of the main problems of the cryptocurrency, from the point of view of the credit business is their high volatility. We Fund Any Deal team used a simple but effective solution to this problem: two cryptocurrencies will circulate in the ecosystem. Deal Token is the domestic currency of the platform that investors will buy in order to provide loans and in which they will receive interest from loans. In this case, Token will be tightly tied to the British pound (GBP) at a rate of 1: 1, which ensures low volatility of the token.
Deal Coin is the “external” currency of the platform, which will be freely traded on exchanges. At the same time, buying Deal Token for Deal Coin will be more profitable than using any other fiat or digital currency. Both coins will be released on the Ethereum platform and comply with the ERC827 standard.
Deal Coin is a large-scale project, thanks to which small and medium-sized businesses around the world will not only get cheap and affordable money, but also get involved in the life of the crypto-currency market. So this platform is able not only to bring money to investors and creators, but also significantly affect (for the better) the cryptomarket and the economy as a whole.