Last Update
Jun 11, 2018
ProBit Global
Bitforex
Bitforex
Idex
What is the ABLE Project?
- Seeking to solve the problem of margin structures of the existing banks and centralized cryptocurrency financial services
- Develop a matching system that connects depositors and borrowers, and provide protected professional banking solutions and wealth investments through a decentralized exchange
Able Project Features
- The users propose deposit and loan interest rates, and the ABLE matching engine connects the users to eliminate the margin of the intermediary
- Prevents the administrator’s moral hazard and central server hacking risk by keeping the client's investment in the decentralization system
Roadmap for the ABLE Project
- Establish ABLE Ecosystem by adding financial products, funds, etc.
- Ultimate goal is to build a decentralized bank-based financial platform.
ABLE Project Team
- ABLE team has specialty on various financial sectors including National Tax Service, and National Pension Service.
- Specialists in finance, IT, marketing share the greatest vision to create the perfect banking experience.
- Advisors from law, finance, investment participate to serve a high-level of financial service in secured way.
The ABLE project aims to solve problems by applying decentralized blockchain technology.
By developing a matching engine that connects depositors and borrowers on a peer-to-peer basis, the project directly connects depositors and borrowers without any intermediaries. With intermediaries and lending spreads eliminated, cryptocurrency interest rates will be determined by mutual agreement between users in a free market, and said rates will serve as market interest rates. Depositors can receive higher interests than they would in a centralized market, while borrowers can lend money at lower rates, creating a win-win scenario. Since depositing and lending occur governed by smart contracts, the project will eliminate exposure to managers’ moral hazard and the risk of central-server hacking.
Current cryptocurrency banking services provide deposits and loans separately rather than linking depositors and borrowers. The services have shortcomings such as inability to provide high deposit interest rates in a sustainable way. Such services cannot mitigate or eliminate intermediary risks because their structure is based on a centralized model. On the other hand, the ABLE project directly links users, primarily through an account, and enables a variety of banking activities such as payroll and investment, based on smart contracts.
The ABLE project primarily aims to apply decentralized blockchain technology to banking 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 banking platform on which to develop and use smart contracts for banking and wealth management services.
The development of ABLE system goes through three stages. At the first stage, we first develop ABLE account, deposit-lending matching, and convenient cryptocurrency address services through solidity-based ABLE BANK smart contract technology on the Ethereum blockchain and then provide ABLE BANK service through the ABLE BANK web page. At the second stage, we develop ABLE DEX and design various ABLE financial products that interact with ABLE BANK smart contracts and provide them to users through the web page. At the final stage, we create a dedicated blockchain main network for ABLE BANK that allows us to provide credit services and personalized financial products by gathering and analyzing user patterns of using financial products.
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Verified 60%
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ABLE is a crypto currency specific banking platform that provides crypto currency financial products through person- person loan matching system and decentralized exchanges.
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