Let's go to continue this blog with other project. First of all, for who missed previous entry, what's a cryptomoney? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO's (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But there exist others those that have just been born, which are not even in the ICO phase, which launch campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it's a way to win cryptocoins even if the market is as it is. Through this way you never lose money.
However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
The development of economic relations has undergone many changes over the years. The need to safeguard a certain asset while allowing it to grow in value has been a natural desire of each individual. However, the lack of this option for digital assets requires the introduction of the new tools needed to help the blockchain industry play a leading role in the next decade and become the main technology used for contracts of guarantee. I want to present to you Depository Network, the first multiplatform network that allows all the credit institutions in the world to accept cryptography as collateral for loans. In more detail, Depository Network (DEPO) (https://depository.network) is a blockchain-based B2B project created to be the first multi-platform network that allows all the credit institutions in the world to accept cryptography as collateral for loans. It will create a completely new infrastructure, on which hundreds of platforms will be built, which will respond to the new challenges of the block chain revolution.
The main objective of Depository network is to reach a tipping point for mass adoption of using crypto assets in traditional lending. To do that, they divided this objective into four micro-objectives: to make an easy adoption, to provide decentralization, to bring security, and to give flexibility.
Regarding how the platform works, there will be two types of collateral smart contracts:
DEPO Smart Contract DEPO Escrow Contract With no middleman Locked with minimum three signatures (borrower , lender, DEPO) It will be fully integrated with the lender’s API and will be triggered by an event such
as a payment, missed payment, contract termination.
DEPO collateral contracts will be used for digital assets without smart contract support.
The Depositary Network will provide a secure and decentralized system of cryptography of collateral assets on which hundreds of collateral deposit platforms can be built. In this way, any owner of digital assets, who own coins or tokens supported by the Depositary Network, can pledge their assets as collateral and receive a loan from several lending institutions. On the other hand, any lender, anywhere in the world, can build their own deposit in the Depositary Network and start accepting digital assets as collateral. Therefore, each lender will keep the collateral in a separate independent deposit. In this way, the loans will be granted independently of the deposit platform, in any currency supported by the respective lender.
In addition, the platform will eliminate the need for centralized state-owned deposits and allow any credit institution to build independent deposits within the system, by providing a network over which different and independent deposits can be built. To ensure total platform security, they use cryptographically secure multi-signature portfolios to store assets, and smart contracts to execute transactions.
On the other hand, smart collateral contracts will bring many other benefits, such as:
- Fully integrable with any lender's website
- Save time and taxes
- Quick to configure
- Guarantee contracts with multiple signatures
- Independent service provider
The project gives the opportunity to earn Depository Network (DEPO) tokens performing some social media tasks and doing simple steps from the bounty program explained into Bitcointalk Web Page. Here (https://bitcointalk.org/index.php?topic=4544199) you can access the link in order to see what are the conditions to become an early DEPOcontributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://depository.network/wp-content/uploads/whitepaper.pdf). You can also stay tuned in their official Telegram group (https://t.me/depositorynetwork). I hope you liked the post and soon I'll send you new ones.
Date Event 2017 Concept Definition. 2018 Q1/Q2 Team Formation, Preparations. 2018 June First Prototype DEPO. 2018 Q3/Q4 Private and Public Pre-sale, ICO. 2018 Q3 Alpha Release DEPO. 2018 Q4 Beta Release DEPO. 2019 Q1 Official Launch of DEPO. 2019 Q4 Users: 10 P2P lending platforms and 50 non-bank lending institutions. 2022 Users: 50 P2P lending platfirms, 100 banks and 500 non-bank lending platforms. 2025 Users: 800 banks and 1500 non-bank lending institutions.
The DEPO tokens will be created using smart contracts and Ethereum blockchain technology. These tokens will be used by the lenders to pay a single installation fee and an annual fee for the use of the private label deposit platform and the borrowers to pay the guarantee storage fee. The distribution of deposit platforms between lenders and borrowers will increase the demand for DEPO tokens.
PreICO price: 1 DEPO = 0.005 USD
Price in ICO: 1 DEPO = 0.01 USD
Tokens for sale: 1,500,000,000
Email: [email protected]
Telegram username: @clauming
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71