Have you known that Blockchain enables financial service platform? This is about it. The new system aims to provide its users with the best opportunities for fiat investment, financial services and transfers. eCoinomic is planning to develop the following set of platform services: Secured and unsecured loans based on fiat money and cryptocurrencies. Long-term and short-term investments in fiat money and cryptocurrencies. Mechanism of hedging the exchange rate risks for crypto assets financialСrypto economy remains very interesting and somewhat mysterious to us. When thinking of this new trend, our consciousness often falls into dissonance, but still, we try to understand it desperately. Thus, we return to basic questions like how, why, and what will happen next. The genesis of Blockchain technology has presented a challenge for all of us.
It is no wonder why we lack experience with cryptocurrencies. Here are four major reasons
· Major external influence results in cryptocurrency falls and rises giving high volatility of the crypto assets
· There is no true understanding of how to deal with new technology because it is all new — everything happens for the first time
· Vast majority of people doesn’t understand the basics of blockchain technology behind the coins
· Cryptocurrency trading seems almost like gambling because of little trading experience.
It is no wonder why we lack experience with cryptocurrencies. Here are four major reasons
· Major external influence results in cryptocurrency falls and rises giving high volatility of the crypto assets
· There is no true understanding of how to deal with new technology because it is all new — everything happens for the first time
· Vast majority of people doesn’t understand the basics of blockchain technology behind the coins
· Cryptocurrency trading seems almost like gambling because of little trading experience.
Reasons for cryptocurrency price growth
There are two major reasons for cryptocurrency growth.
· On the one hand, it happens due to the constantly increasing number of cryptocurrency users.
· On the other hand, currency speculation directly influences current market prices, which can lead to a bubble burst.
Now Its ICO Time
ICO is a new way to introduce tokens, the price of which will be established by the request of the coin initiating team. It is initially set up during the ICO and can be changed later after the listing at the exchanges where price will be regulated by the market. Token represents project value that can be different: income, possession of the property, receipt of goods or services or a symbol of the project’s gratitude for the funding received, without any obligations coming from the project. In case if the token is being meaningful, there is a chance for people to start using it and the token price will go up. Tokens draw more and more attention with the increasing number of crypto holders including speculators who do not care about the functionality, but the profitability. In this context, speculators are cryptocurrency investors and traders who tend to jump off the train at the first signal of danger, selling depreciating tokens. Users and speculators are the two main factors that affect the price of the cryptocurrency. In most cases, they influence the volatility of the course and the level of crucial support. Even the strongest cryptocurrencies have insane volatility, which clearly demonstrates that none of them have an overwhelming number of loyal users. It happens because pure speculation is always able to jeopardize the confidence of conservative investors.
User’s expansion results in the growth of capitalization of the cryptocurrency. Thus, its volatility decreases as well as speculators interest, which often indicates that particular crypto assets become mature. From an investor’s point of view, it is the end of a highly profitable investment instrument. However, rapidly growing number of projects shows that there will be more and more cryptocurrencies to gain profits from.Too often over the past time, mainstream media would rush to call for “crash” each time when the price of bitcoin even slightly sank. A day or two was required for bitcoin to regain its losses given its volatility. Considering the cumulative market fall, it is more like a genuine crash.
Moreover-eCoinomic(CNC)
Cryptocurency economy demonstrates a significant drop in prices. Both Bitcoin and top coins decreased in price by more than 15%. For instance, it is the first time since Thanksgiving eve when Bitcoin fell below $10,000. Besides, Ethereum fell below $1,000 whereas XRP, the Ripple payment network token, erased $32 billion of its market cap in a few hours. At the moment the situation has stabilized, but the overall decline continues. It is not the first time when crypto-currencies overreact. Now, it is obvious that government involvement such as regulatory measures by China and South Korea have a high impact on the cryptocurrency market. High participation level of Asian countries results in the significant overall influence of the region to the whole market.
Recently a South Korean official announced that the bill to ban bitcoin trading is to be prepared. “There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Justice Minister Park Sang-ki said at a press conference, according to Reuters. A moment later, South Korean President Moon Jae-in appeared to pull back on Park Sang-ki’s claim, saying the ban is “not a finalized decision and will be finalized through discussion and a coordination process with each government ministry.” After a few days, it is still unclear what actions South Korea is going to take. Country is considered to be one of the three biggest global cryptocurrency markets. That`s why any uncertainty in the current policy of the country results in bad investor sentiment. Besides, the lack of clarity for the news coming from China still drives the entire coin market down further.This year eCoinomic plans to launch a financial services platform based on crypto assets. The prototype of lending service is in the final stage of development and the project requires an ICO funding in order to launch the public Alpha version. In the long term, the eCoinomic platform is intended to offer its users a wide range of services including exchange, transfer, financial management, virtual cards issuance and more, but the primary focus of the first stage of platform launch is secured fiat loans.Fiat currency lending backed by crypto assets is one of the most popular and apprehensible services to date on the cryptocurrency market and, when done right, it is one of the safest means of leveraging crypto assets and fiat funds. In short, the mechanics of the eCoinomic platform are as follows: each registered user can make a loan application and establish the loan amount and interest rate. The platform allows for automatically searching and recommending a counterpart to sign a loan contract. Smart contracts deployed in the system regulate the lending processes and act as the guarantor for security and transparency of the loan operations. The technology provides automatic management of the collateral crypto assets, which takes all risks related to both human behavior and market the dynamics into account.
Official Links for More Details
Official Web: https://ecoinomic.net/
There are two major reasons for cryptocurrency growth.
· On the one hand, it happens due to the constantly increasing number of cryptocurrency users.
· On the other hand, currency speculation directly influences current market prices, which can lead to a bubble burst.
Now Its ICO Time
ICO is a new way to introduce tokens, the price of which will be established by the request of the coin initiating team. It is initially set up during the ICO and can be changed later after the listing at the exchanges where price will be regulated by the market. Token represents project value that can be different: income, possession of the property, receipt of goods or services or a symbol of the project’s gratitude for the funding received, without any obligations coming from the project. In case if the token is being meaningful, there is a chance for people to start using it and the token price will go up. Tokens draw more and more attention with the increasing number of crypto holders including speculators who do not care about the functionality, but the profitability. In this context, speculators are cryptocurrency investors and traders who tend to jump off the train at the first signal of danger, selling depreciating tokens. Users and speculators are the two main factors that affect the price of the cryptocurrency. In most cases, they influence the volatility of the course and the level of crucial support. Even the strongest cryptocurrencies have insane volatility, which clearly demonstrates that none of them have an overwhelming number of loyal users. It happens because pure speculation is always able to jeopardize the confidence of conservative investors.
User’s expansion results in the growth of capitalization of the cryptocurrency. Thus, its volatility decreases as well as speculators interest, which often indicates that particular crypto assets become mature. From an investor’s point of view, it is the end of a highly profitable investment instrument. However, rapidly growing number of projects shows that there will be more and more cryptocurrencies to gain profits from.Too often over the past time, mainstream media would rush to call for “crash” each time when the price of bitcoin even slightly sank. A day or two was required for bitcoin to regain its losses given its volatility. Considering the cumulative market fall, it is more like a genuine crash.
Moreover-eCoinomic(CNC)
Cryptocurency economy demonstrates a significant drop in prices. Both Bitcoin and top coins decreased in price by more than 15%. For instance, it is the first time since Thanksgiving eve when Bitcoin fell below $10,000. Besides, Ethereum fell below $1,000 whereas XRP, the Ripple payment network token, erased $32 billion of its market cap in a few hours. At the moment the situation has stabilized, but the overall decline continues. It is not the first time when crypto-currencies overreact. Now, it is obvious that government involvement such as regulatory measures by China and South Korea have a high impact on the cryptocurrency market. High participation level of Asian countries results in the significant overall influence of the region to the whole market.
Recently a South Korean official announced that the bill to ban bitcoin trading is to be prepared. “There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Justice Minister Park Sang-ki said at a press conference, according to Reuters. A moment later, South Korean President Moon Jae-in appeared to pull back on Park Sang-ki’s claim, saying the ban is “not a finalized decision and will be finalized through discussion and a coordination process with each government ministry.” After a few days, it is still unclear what actions South Korea is going to take. Country is considered to be one of the three biggest global cryptocurrency markets. That`s why any uncertainty in the current policy of the country results in bad investor sentiment. Besides, the lack of clarity for the news coming from China still drives the entire coin market down further.This year eCoinomic plans to launch a financial services platform based on crypto assets. The prototype of lending service is in the final stage of development and the project requires an ICO funding in order to launch the public Alpha version. In the long term, the eCoinomic platform is intended to offer its users a wide range of services including exchange, transfer, financial management, virtual cards issuance and more, but the primary focus of the first stage of platform launch is secured fiat loans.Fiat currency lending backed by crypto assets is one of the most popular and apprehensible services to date on the cryptocurrency market and, when done right, it is one of the safest means of leveraging crypto assets and fiat funds. In short, the mechanics of the eCoinomic platform are as follows: each registered user can make a loan application and establish the loan amount and interest rate. The platform allows for automatically searching and recommending a counterpart to sign a loan contract. Smart contracts deployed in the system regulate the lending processes and act as the guarantor for security and transparency of the loan operations. The technology provides automatic management of the collateral crypto assets, which takes all risks related to both human behavior and market the dynamics into account.
Official Links for More Details
Official Web: https://ecoinomic.net/
Whitepaper link: https://ecoinomic.net/docs/eCoinomic_WP_0219.pdf
Twitter: https://twitter.com/Ecoinomicnet
Bitcointalk account link- https://bitcointalk.org/index.php?action=profile;u=1503176
Username- rathnayake
Thank you for another great article. Where else could anyone get that kind of information in such a perfect way of writing? I have a presentation next week, and I am on the look for such information.
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