Swapy Network – The Universal Access to Credit

Hi friends, let me let you on an incredible news.. It’s Swapy Network!.

The Swapy network is a decentralized protocol which plans to guarantee general access to credit by interfacing speculators and borrowers. Swapy proposes to make not one, but rather three decentralized applications (dApps) to be specific;

Swapy Exchange — An exchange that connects investor money to emerging economies. The benefitted parties would be both International investors from countries with low interest rates & credit seekers from countries with high interest rates. For example, an Japanese based investor can invest his/her money in a Brazilian startup through Swapy. Remember, the central bank interest rate in Japan is negative (-0.1%) while in Brazil its around 7%. The transaction will be governed by a smart contract signed between an investor and a credit company in the Swapy Exchange. This smart contract will be deployed into the Ethereum blockchain & the assets will be transferred across borders using cryptocurrencies. However, the funds and paybacks are pegged to the US dollar to avoid the high volatility associated with cryptocurrencies. This will be a win-win for both parties- the investors & credit seekers, as both of them are able to mitigate their domestic pitfalls, through cross-border dealings. The Swapy Network team hopes to provide all these features with a 100% committment to legal compliance.

Swapy Financial ID — A universal financial identity for individuals, providing a simplified Identity Verification System(IDV) or Know Your Customer (KYC). This will be particularly helpful for financial entities reliant on conventional KYC procedures that are cumbersome by nature. Swapy Financial ID will be a one stop solution for KYC & credit history analysis as all transactions are stored in the blockchain & are readily available upon authentication.

Swapy Data Market — A mechanism through which individuals can monetise their own data, also empowering new players in the financial space by giving them access to data. Swapy Network proposes a Data Marketplace that eliminates intermediaries & empowers individuals to trade their own data for monetary gains on a voluntary basis. The proposed marketplace aims to create a level playing field for new entrants in the financial space, as the present scenario is heavily skewed in favor of big corporations.

Swapy Data Market — A mechanism through which individuals can monetise their own data, also empowering new players in the financial space by giving them access to data. Swapy Network proposes a Data Marketplace that eliminates intermediaries & empowers individuals to trade their own data for monetary gains on a voluntary basis. The proposed marketplace aims to create a level playing field for new entrants in the financial space, as the present scenario is heavily skewed in favor of big corporations.

Swapy Token (SWAPY), an ERC20 token, is the basic unit of value in the Swapy Network. It provides the only way to pay the fees for the services in the network. In the Swapy Exchange for example, 1% of every transaction carrried out is proposed as a fee that will be paid in Swapy tokens. So for a $100,000 transaction, a $1000 would be generated as revenue for Swapy Exchange.

Solution

Swapy Network is a decentralized protocol that aims to connect the various participants within the financial industry, which includes the borrowers, creditors, insurers, data producers, the data consumers, and others. With Swapy Network, individuals and/or companies are able to offer or consume services and collaborate within the ecosystem to decrease the prices of financial services, all the while being more inclusive of new entrants in the financial industry. The fees to operate in Swapy Network will be charged in Swapy cryptographic tokens (SWAPY). This way, token holders will have access rights to use the Swapy Network, benefiting from and contributing to it, and receiving tokens in exchange. This section provides an overview of the Swapy Token, the proposed D’Apps, and the protocol itself.

How does Swapy Network aims to solve the problems of access to credit?

  1. It facilitates offers of credit in order to lower the costs of capital.
  2. It eliminates information asymmetry between participants through a commonly shared and updated data network.
  3. It provides better data so that credit companies can make better lending decisions and offer lower rates to good clients.
  4. It encourages lower cost capital and better information which can reduce entrance barriers for new companies.
  5. This is Swapy Network market-based approach to accomplish the dream of Universal Access to Credit.

SWAPY Token Sale

Swapy Token (SWAPY), an ERC20 token, is the basic unit of value in the Swapy Network. It provides the only way to pay the fees for the services in the network. In the Swapy Exchange for example, 1% of every transaction carrried out is proposed as a fee that will be paid in Swapy tokens. So for a $100,000 transaction, a $1000 would be generated as revenue for Swapy Exchange.

Total number of Tokens minted: 100,000,000 (One Hundred Million). The distribution will be as follows;

-Company’s stockholders: 15%

-Company’s Endowment: 15%

-Partners and advisors: 10%

-External developers fund: 10%

-Initial Coin Offering: 50%

Price of the token against Ether: 1 ETH = 600 SWAPY.

The Swapy Network Team

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website : https://www.swapy.network

Whitepaper : https://s3.us-east-2.amazonaws.com/swapynetwork/SwapyNetwork_TokenSale_Whitepaper-EN-US.pdf

ANN Thread : http://bitcointalk.org/index.php?topic=2372636.0

Bounty : https://bountyhive.io/join/Swapy%20Network

Author: TheMichaelMatch

My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035

 

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.

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TheMichaelMatch

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