Blockchain emerged sharp 9 years ago, yet the rush is still there and rising. Over the last years it has been spreading across a broad spectrum of activities, introducing decentralization and other advantages. The hype centres around cryptocurrencies too, which are this technology’s initial application, and in grows ever greater. The widespread use of digital money promotes development of countless solutions and blockchain-based services.

eCoinomic.net is one of them and their token sale is on its way. So far it looks promising, so we suggest it’s worth taking a closer look at. In this article and the ones to follow we shall cover project details, its audience and how can it change the crypto environment for the better. We also evaluated what distinguishes this platform from other resembling services that have already entered the market.

eCoinomic.net plans and perspectives inspire confidence from instance as yet at this point, during the token sale, the founders make sure the investors are aware of where their funds are allocated to. Each user can try out the platform and become familiar with his features as the MVP is already put into operation.

So, we in turn would like to find out what does eCoinomic.net platform make for and reveal the opportunities it provides.

Accessible loan platform

eCoinomic.net platform will let its users take and give loans through blockchain. In addition, it will open a space for long-term and short-term investments and hedging along with instant payments and crypto exchange.

In some ways the platform will be some kind of an intermediary between ones, who lend funds and those who borrow, and this “middleman” will take full advantage of blockchain in terms of safety and security.

Ethereum smart contracts will be implemented within the platform to handle processing between its users. This will allow for rapid and secure transactions and aid building unprecarious connections between lenders and borrowers.

Crypto-backed fiat loans

Among other features, this is what differentiates eCoinomic.net from other comparable services. Most of them, which appear to be similar, provide crypto users with business and other loans, yet only using their internal tokens.

eCoinomic.net took a different approach: users shall provide loans in local fiat currency to other customers of the platform. In this manner users will get loans in existing fiat currencies — US dollars, British Pounds, Euros, Japanese Yen, China’s Yuan or Swiss Francs. Crypto assets are only used as collateral and registered by a smart contract and will include a variety of currencies (BTC, ETH, LCH, BCH, XRP, EOS, NEO, ETC, ADA, TRX, DASH or CNC — eCoinomic.net tokens). The collateral is returned to the user once the loan is paid back in full.

The fees will depend on the loan amount and will be minuscule compared with what other services and traditional financial institutions request.

In the next part of this series we shall cover other features of eCoinomic,net. We shall find out why does crypto community need such service at this very moment.