The ABLE project primarily aims to apply decentralized blockchain technology to financial and wealth management features; to directly link demand and supply through an account on a peer-to-peer basis; and to establish a reliable system. It aims subsequently to build an in-house decentralized exchange, and then to evolve into a platform on which to develop and use smart contracts for finance and wealth management services.
The ABLE project has been proposed to provide an alternative to banks’ conventional lendingdeposit spread structure, and to solve problems with initial cryptocurrency banking services.
Banks have a business model based on a lending-deposit spread (i.e., the difference between lending and deposit interest rates), in which the bank acts as an intermediary between depositors and borrowers. This structure allows banks to receive deposits at low interest rates and lend money at high rates, profiting from the difference.
Existing cryptocurrency-based banking services are provided through a centralized structure. The combination of unsustainably high interest rates and centralized services renders banks directly vulnerable to managers’ moral hazard and the hacking of central servers. The lack of integrated solutions in the crypto market withholds users from experiencing diverse banking services.
WHY ABLE?
ABLE FEATURES
ABLE ECOSYSTEM DEVELOPMENT PLAN
The ABLE Ecosystem largely comprises the ABLE account and support for third parties providing finance, wealth management, and micropayment services. We will add the decentralized exchange (DEX) feature to store smart contracts based on various cryptocurrencies. Operating on DEX, we will distribute the framework to allow production of wealth management and finance smart contracts, creating an environment where a wide array of product developers can develop financial products. Thus, users can access a variety of financial products, and through API development the ABLE project can evolve into a cryptocurrency finance platform and an ecosystem enabling communication, including micropayment, with outside parties.
We need a decentralized exchange through which cryptocurrency assets can be traded in order to develop wealth management and finance smart contracts. Currently, most cryptocurrency investments are made through arbitrage trading at centralized exchanges or ICO participation with personal wallets. However, through ABLE DEX, we can eliminate the risks of centralized exchanges and allow for wealth management. Through the ABLE account, we can create a platform that makes a variety of investment products accessible. On the ABLE network, we will create an environment where various smart contracts and Decentralized Applications (DApps) can enable the development of the ABLE Ecosystem.
SOLUTION
The ABLE project will create a solution to problems with traditional bank lending-deposit spreads, and nontransparent and centralized cryptocurrency financial services, basing the solution on the transparency and reliability of a blockchain system. The ABLE project is the cryptocurrency-specific financial solution that provides cryptocurrency financial products through person-to-person loanmatching systems and decentralized exchanges. The ABLE project will create a platform that enables cryptocurrencybased financial activities to center around the ABLE account, emanating from the fact that banking activities are carried out primarily through bank accounts. Users propose loan interest rates through a matching system, eliminating the lending-deposit spread by directly connecting users on a peer-to-peer basis. The ABLE project supports decentralized exchanges and provides decentralized cryptocurrency wealth management services through smart contracts. Ultimately the project aims to evolve into the ABLE Ecosystem through its integration with external systems, including simple payments.
ROADMAP
For more information about this project visit :
- Website : https://www.able-project.io/
- ANN Thread : https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
- Whitepaper : https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
- Telegram : https://t.me/ABLE_Project_EN
- Twitter : https://twitter.com/Ablecoinproject
- Facebook : https://www.facebook.com/ablecoinproject/
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=2038051