SWAPY: universal access to credit

INTRODUCTION

Swapy network is a platform that universalizes accessibility to credit. Credit in developing countries is very expensive and inaccessible for many people. For example in Brazil, the average loan is 145% interest per year and 40% of the population does not have access to credits. According to Brazil central bank, think about a situation, you work for a lending company in a developing nation. In those countries, the cost of capital is very high. This means that the companies have to charge even more the end consumer. Also, it is very hard and expensive to get trustful information from borrowers. Swapy network is the solution for those problems.

THE SWAPY SOLUTION

Swapy platform enables credit companies to have access to lower cost of capital and reliable information from the clients so they can offer a cheaper and better credit service. Swapy network changes the way the credit markets work. Nowadays corporations control your information and make money out of it without even sharing this value with you. Banks keep their huge profit margins by using their power at entry barriers to new companies. However, Swapy network will enable the creation of an ecosystem where there will be efficient credit markets with no barriers to entry for new players and where consumers have the power and reap the benefits of universal access to credit.

UNDERSTANDING SWAPY

Swapy network is an open protocol on the ethereum blockchain that allows people and organizations to take control and reap the value of their financial data. This means that anyone can use it to develop projects, may it be for profit or not. Swapy is proposing three systems based on the swapy protocol.

The first one is Swapy exchange. This service connects investors from countries where interest rates are low with credit companies in countries where interest rates are high, reducing the cost of capital for lending the companies and providing higher returns for investors.

The second one is Swapy financial ID. It allows individuals to create a financial identity valid in any country. That way, people can control their data and earn from it every time a company wants to see their information.

The third one is Swapy data market. It offers an interface where organizations can consult a vast source of financial identities in bulk. All companies have access to the same information, therefore, eliminating the information asymmetry because every organization will have access to the same information.

TOKEN SALE

The short name of the token is SWAPY. It's an ERC 20 on the ethereum network. Swapy network will issue a 100 million Swapy tokens and will sell 70% of it in the ICO. For the founders and early investors, there will be a three years vesting period with one year lockup. Open source protocol is given in GitHub and Gitter.

CONCLUSION

The main idea behind Swapy network is to create an alliance between people and organizations that are going to use the Swapy network protocol to universalize the access to credit. This is a very well prepared and a very detailed project. It will be necessary to understand the local risk markets and evaluate them with a risk premium. The idea of using cheap money taken in developed countries for lending to residents or companies of emerging markets is widely known. The difference in the rates here is primarily due to the presence of country risks, which cannot be managed at the corporate level. The business itself will require a great understanding of the work of local markets. To do this, the company will need a local financial partner, who will co-invest own money.

Website - https://www.swapy.network/

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

ANN - https://bitcointalk.org/index.php?topic=2372636.0

Telegram - https://t.me/SwapyNetworkChat

Published by - prince0200

Profile - https://bitcointalk.org/index.php?action=profile;u=1807689