Hanya titipan: Swapy Network - Allowing Possibility of Universal Credit Access

Whitepaper Swapy Network starts with statistics. This is a report from Global Findex stating that two billion people worldwide do not have access to financial services, and especially access to credit.

This accessibility is the main problem of our current credit system. And now, the Swapy Network helps us identify the cause of the problem.

Cause

In fact, there are three major causes of our current credit system problem. A brief explanation of each of the causes is discussed in the white paper as follows:

The first cause is the adjusted risk of the cost of capital lent in the developing world is very expensive. For example, underdeveloped countries that have lower credit supply ratios and higher interest rate spreads, make credit more expensive and savings less profitable.

Another cause is information asymmetry. We are in a situation where there is an imbalance of privileges necessary to access information for credit purposes. In other words, the data can not be accessed by all players in the credit market. This is a troublesome issue because data is needed to make credit-related decisions. Even if there is a way to access the data, still, the cost to access the data is high.

The third reason is the high cost of traditional banking infrastructure. Because the banking infrastructure is expensive, as a result, such services on credit are usually not available to the poorest people or those living in remote areas.

Swapy Network Gives Us a Solution

Not only does it identify the causes of traditional credit system problems, Swapy Network also offers solutions to us.

By using blockchain technology, Swapy Network will solve all the problems mentioned above.

Firstly, this platform will facilitate credit offerings to lower capital costs. Swapy Network has an app called Swapy Exchange. This app will connect international investors with local credit companies, optimize returns to investors and lower interest rates to credit companies.

Swapy Network will also eliminate information asymmetry between participants through a shared and updated network.

In addition, this platform also provides a data market. Here, all information is available to all credit players. At the same time, they do not have to worry about its security, because there is an application called Swapy Financial ID that will improve data integrity and privacy. The information in the User ID of the ID will belong to the individual.

The rest of the information about this app, how they will work and how it will benefit you is being described well in whitepaper

Token Information.

Now, Swapy Network offers you the opportunity to join this platform by offering its token. Swapy Network has its own token called Swapy Token or SWAPY (token ERC20). The number of tokens printed at launch is 100,000,000 (One Hundred Million).

This token will be used as payment for individual information, payment for services on Swapy Network, and will be used as collateral when requesting a loan.

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