THE ABLE PROJECT
UPIK05The ABLE project has been proposed to provide an alternative to banks’ conventional lendingdeposit spread structure, and to solve problems with initial cryptocurrency banking services.
1) Banks have a business model based on a lending-deposit spread (i.e., the difference between lending and deposit interest rates), in which the bank acts as an intermediary between depositors and borrowers. This structure allows banks to receive deposits at low interest rates and lend money at high rates, profiting from the difference.
2) Existing cryptocurrency-based banking services are provided through a centralized structure. The combination of unsustainably high interest rates and centralized services renders banks directly vulnerable to managers moral hazard and the hacking of central servers. The lack of integrated solutions in the crypto market withholds users from experiencing diverse banking services.
The ABLE project aims to solve these problems by applying decentralized blockchain technology.
By developing a matching engine that connects investors and borrowers on a peer-to-peer basis, the project directly connects investors 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. Investors 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 investing 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 financial activities such as payroll and investment, based on smart contracts.
ABLE PROJECT FINANCIAL SERVICES
The ABLE project in its initial stages provides:
1) investing/lending – investing-lending matching engine.
2) payroll and credit score/ loan – cryptocurrency salary- payment service and credit scores to support loans.
3) simplified payment and remittance service – simplified account address service and reserve remittance
4) investment – account-based Initial Coin Offering (ICO) investment governed by a smart contract.The project offers an account-based finance experience that encompasses, loans, remittance, payroll, and investment.
SALARY PAYMENT SMART CONTRACT
Personal labor can be assessed largely based on hours of work and performance.Initially, the salary payment system will focus on assessing hours of work. Then salaries can be paid on a yearly, monthly, or weekly basis.
CREDIT ASSESSMENT
Credit assessment can rest on the fact that blockchain data cannot be manipulated. In initial stages, credit scores are generated based on the history of completion of salary-payment smart contracts and consistency of cryptocurrency income.Then, based on the credit scores, the option to allow salary advance payments will be added.Credit scores will be refined by creditassessment technology based on big data and external credit score data .
CREDIT LOAN BASED ON SMART CONTRACT FOR SALARY PAYMENT
Adding the option of making a credit loan to the cryptocurrency salary payment system allows users to take out a credit loan based on existing smart contracts for salary payment,using the credit-score data within the account.
SMART CONTRACT FOR WEALTH MANAGEMENT
We develop the smart contract frameworks necessary to manage funds, such as trading strategy generators, and portfolio analysis tools. Fund-management service fees will attract investment product developers and create an ecosystem that will:
1) Allow creation of a variety of technical indicator-based trading strategies.
2) Create a systematic wealth management environment by providing smart contracts that enable portfolio construction and performance analysis tools.
FINANCE SMART CONTRACT
While the investing-lending matching engine carries out most loans,demand for various financial services will be met through finance smart contracts that include long-term loans,large-amount loans,P2P loans,secured loans, and credit loans.Secured loans,and credit loans based on external ABLE data will be carried out through various integration mechanisms, following the development of the ABLE main network.Initially,ABLE will produce finance smart contracts,then ABLE will gradually provide an environment in which various financial-product developers can produce finance smart contracts based on the finance smart contract framework.
Platform Architecture
Financial instruments are achieved by Ethereum smart contracts.
- ABLE Application
User can retrieve and utilize financial instruments through the ABLE Application. ABLE Application runs on both web and mobile UI.
- ABLE Structure
Smart contracts including Investment, loans, mutual funds, and profit distributions can be designed on the ABLE Framework. Various smart contracts can be browsed and registered through the ABLE Application(Web/Mobile).
- ABLE API
ABLE system adopts the layered architecture, and permission levels will be determined according to each layer. Each layer and component can communicate via standard API’s. Pairs of API permission levels and users match Public – User, Protected – Administrator, Private – System Developer.
- ABLE Ethereum Infrastructure
Initially, ABLE Project will run on Ethereum, utilizing a cryptocurrency gateway and blockchain systems. ABLE Main Net will be launched to reinforce banking/fund/payment systems.
Token Detail Sale
Initial issuance 25,000,000,000 ABLE
Public Sales 15,000,000,000 ABLE 60%
Reserved 3,750,000,000 ABLE 15%
Team Incentives 2,500,000,000 ABLE 10%
Foundation 2,500,000,000 ABLE 10%
Martketing & Strategy Partners 1,250,000,000 ABLE 5%
Currency Accepted : ETH
P2P Loan Matching Engine
Blockchain and Smart-Contract technology enable Peer-to-Peer Loan service without any intermediaries. ABLE Dollar plays a role of a lending fee which is determined by market demand and supply. ABLE loan matching engine will resolve traditional problem in banking industry by removing interest spread and risk of centralization in current crypto finance.
Decentralized Exchange
All financial activities will be based on ABLE account system, ultimately aiming a decentralized blockchain financial platform. By directly connecting investors and borrowers peer-to-peer, market participants will interact without intermediaries, leading to the development of a crypto market and financial experience through free trading,sharing its value. Mutual fund designed by financial and technology expert will be available ABLE DEX.
Roadmap
2018
Q1 Pre-Sale
Q2 ICO
Q3 Exchange Listing
Q4 Investment-Loan P2P engine
2019
Q1 Finance Platform Service
Q2 ABLE Mainnet Development
Q3 ABLE Finance Ecosystem
Q4 ABLE Testnet Launch
2020
Finance Platform Service
TEAM
M.S Kim CEO / FOUNDER
K.S Kim CTO
W.H Lee CSO
I.S Kim Blockchain Developer
J.W Lee Front Developer
S.P Hong Web Developer
S.B Gu UI/UX Designer
D.P Lim Finance specialist
J.W Ro Marketer
K.G Kim Finance specialist
Taras Korzhyan Europe Community Manager
Thomas Nsikak America Community Manager
Ekene C. Onyilogwu Asia Community Manager
Nazim Sawant India Marketing Specialist
William Cartmell Australia Marketing Specialist
Erin Woo Marketer
IBCT
James Kim IBCT CEO
Martin Lee IBCT CTO
Juno Yu IBCT Developer
ADVISOR
Young Baek Advisor
Wonhee Cho Advisor
Rodi Park Advisor
MyungSu Im Advisor
HyungNam Moon Advisor
JaeHyuk Kwak Advisor
James J. Young Advisor
S.M Oh Advisor
More information Contact :
Website : https://www.able-project.io/
Whitepaper : https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
ANN Thread : https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
Facebook : https://www.facebook.com/ablecoinproject/
Telegram : https://t.me/ABLE_Project_EN
Twitter : https://twitter.com/Ablecoinproject
Author : Upik05
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Address wallet
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