We are pleased to announce that we have publicly demonstrated and trial tested the eCoinomic.net crypto-backed loans Platform MVP within the Blockchain Tomorrow BTC21 conference in Seoul, South Korea.
The principal functions of the service are implemented in the eCoinomic.net platform MVP: a transit of cryptocurrency, smart contract functionality and the withdrawal of funds through a payment agent.
Three loans, 150 000 KRW ($141) in total, collateralized by ETH, have been lent to the guests of the conference. The funds have been transferred to the guests’ payment cards powered by Mastercard. All loans have been repaid in full, thus demonstrating the whole process of crypto backed loan being issued and paid back.
The public MVP test has shown the proper functioning and technical viability of the eCoinomic.net loan Platform. It has also identified many areas for improvement from the user’s point of view, for example, how the loan application form can be further enhanced. The feedback has been passed to the development team for the further research and implementation.
The press has shown an unfeigned interest towards the Project and its Team. Bitnews Coin agency CCO has invited the founders of the eCoinomic.net Platform for a studio interview. Local Seoul streamers have been carrying out live broadcasts from the eCoinomic.net stand.
We at the Project Team encourage the Community to take part in the tests of the Platform. For participation it is advised to send an email to [email protected], pointing as the email subject – “MVP Test” and providing in the email body short info about yourself, specifying the field of professional interests and specialization.
At the same time, the Project has been given trust and been supported by investment groups, among which there are considerable institutional investors – One Venture Partners LTD (UK) and Carduus Investment Advisors LLP (UK).
Meet the Project
eCoinomic.net is a UK-based company delivering a financial services platform for crypto owners. Its premiere service is fiat loans backed by crypto collateral. eCoinomic.net aims to bridge the gap between fiat and crypto worlds by bringing together cryptocurrency holders and institutional investors/family offices into a single lending network.
How Does the System Work?
Institutional investors and family offices are always interested in new low-risk instruments with high profitability. And crypto owners wish for the benefit of their digital assets and for the long-term hoping to gain more value. The smart contracts on the eCoinomic.net platform will solve these needs. Crypto owners will get an opportunity to obtain fiat loans using digital assets as collateral. Institutional investors and family offices will explore a new mortgage market by issuing fiat loans to crypto community.
For more information about the Project, please follow the link https://ecoinomic.net/
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