With the growth projection of the cryptocurrency; Etherecash is at its bottom price, making it the best time to key in and also to stay invested. The crypto space is undergoing a bear market with the downward pattern making it the ideal time to buy ECH and to stay invested if you believe in the long term of blockchain. Blockchain is often associated with the future of finance, but in the case of lending, could it actually take us back in time? Through Smart Contracts and Blockchain technology, Etherecash provides safety, reliability and transparency in the way we Lend, Send and Spend.
Before the rise of banks, loans and repayments took place peer-to-peer. People had to trust each other. Over time (perhaps inherent to human nature?) trust began to break down, and intermediaries and third parties were added to the equation. These middlemen provide a layer of protection, but in doing so charge high fees, while adding extra layers of complexity and regulation to the process of lending and borrowing. Etherecash (ECH) is here to bridge the gap between those with access to finance and those without, eliminating borders, intermediaries and prejudices. It’s a token on a mission.
Etherecash aims to establish itself as a secure and reliable decentralized financial ecosystem. The platform will offer advanced banking activities supported on the Ethereum blockchain, including peer-to-peer lending, worldwide money transfer and a multi-crypto debit card. By integrating blockchain and smart contract technology, they create better transparency and greatly enhance customer experience.
Built on a distributed ledger, the very nature of its design is trustless and decentralized. This makes it possible to transfer ownership of an asset from one person to another, without the need for an intermediary, an attribute which could help revive peer-to-peer lending practices and even propel it to new heights of popularity. Etherecash is made up of two excellent qualities to ensure unmatched security and peace of mind for its users; Lawyer Backed Smart Contract and Crypto Backed Lending.
With the importance of legal framework, their smart contracts are backed by some of the industries’ most reputable lawyers to ensure the borrower and lender engaging in peer-to-peer loans on their platform are protected and secured throughout the loan process. After agreeing on mutual terms, they are locked into the smart contract, so the contract will auto-execute only as per those agreed terms, giving assurance and peace of mind to all parties involved.
Etherecash has incorporated crypto assets as a means of collateral against which a loan can be issued. This enables you to best utilize your crypto assets, while getting instant access to cash flow. Your cryptos are held as collateral for the duration of the loan and returned to the borrower on repayment of the loan plus interest.
Etherecash doesn’t really reduce credit risk; it could nonetheless dramatically reduce operational risks, improving the efficiency of funding and lending models through more decentralized, trusted, immutable records with better pricing and confidence in the underlying assets.
Etherecash ICO is over and it would be a smart move not to sell rather to buy more and stay invested as currency hits its bottom price. Alongside its lending and financial platforms, they set to launch few gaming platforms also.
For more information please visit http://etherecash.io/