Are you interested in investing in new ICOs, but feel overwhelmed by the sheer number os ICOs that appear on the internet all the time? Don’t worry, that is very normal. ICOs are getting increasingly common, so sometimes it’s hard to decide which ones are the best for investing.
Today, our subject is a company called Swapy Network.
What Is Swapy Network?
Swapy Network is Brazilian start-up focused on credit. They plan to create a decentralized platform using blockchain technology to give to all of their users the ability to reap the best benefits of credit around the world and have universal access to credit.
The problem that this company is trying to solve is that users are generally limited by decisions made by their governments about credit and they do not have access to better options offered by other countries if they do not live or invest there already.
Swapy Network wants to create a platform in which users can choose the best markets to ask for credit and will have access to the best interest rates.
The data of the users will also be their own, so they can decide how to better use that data. It will be their decision whether they will sell or not or by how much.
How Does Swapy Network Work?
Swapy Network will be very easy to use. You will have to register on the platform and create their Swap Financial ID, buy Swap tokens and then use them for different services that you will want to use.
Every service of the platform will be accessed by the use of Swap tokens, so the users will have to acquire before they participate in the platform. Because of this, if they want to have access to the products, they might want to invest in the ICO right now.
How to Invest in Swapy Network?
To invest in this company, you will have to acquire their Swap tokens. You can buy tokens during the upcoming ICO. At the time of this report, there was no date set for the beginning of the pre-ICO and the main ICO of the company, although there’s information that there will be a pre-ICO.
To buy Swap tokens, you can use only Ethereum. If you only have Bitcoin or other cryptocurrency, you might want to exchange it before you invest in this company. With 1 ETH, you can buy 300 Swap tokens.
It is important to note that you will not be buying shares of the company if you buy their tokens, but investing in their product instead. If the company is successful, the price of the tokens will certainly rise, but be aware that a token is a currency to be used inside the system, not a share of the company in any way.
This application connects international investors and credit service providers around the world in order to create a more efficient money market model. Investors operating in countries where interest rates are low are thus able to work with credit companies in places where interest rates are high, ensuring higher returns for the former and lower capital costs for the latter.
Getting access to credit at lower rates, in turn, means that financiers can afford to transfer the benefits to their customers by lending at lower rates.
Swapy Financial ID
This is a digital identification framework that will hold international validity. This ID simplifies the application process for credit clients since they only have to go through Anti Money Laundering (AML) and Know Your Customer (KYC) processes only once for unlimited access to credit services globally.
Every creditor will have access to their own credit history and can thus access credit facilities with greater ease no matter their location. This will facilitate low-cost credit provisions because access to such pertinent information means lower risks for financiers.
Swapy Data Market
In the current model, institutions are collecting tons of individual data without consent and thus gaining an unfair competitive edge over new entrants. This information asymmetry favors large corporations which, in turn, charge high premiums for credit companies wishing to gain access to the data. These costs are passed on to the consumer and contribute to high-interest rates. The Swapy Data Market eliminates this imbalance and makes data available to all players without discrimination.
On the other hand, data owners are able to commercialize their information by charging an agreed upon the number of tokens for consultation. To ensure data veracity, the application will incorporate reliable data validators.
These three pillars of the Swapy Network create a circular ecosystem for new entrants and established ones alike. All players in the network get incentives for adding value to the concept and working towards its success.
The Inspiration behind the Project
The platform’s CEO, Edmilson Rodrigues from Brazil, left his job at Google in a bid to pursue an MBA in the United States. Unfortunately, due to the constraints surrounding credit access in Brazil, he was unable to achieve this. But instead, he got the opportunity to enroll into Draper University, a Silicon Valley initiative by Venture Capitalist Tim Draper and following this, he got an investment to make his dream of equitable credit access a reality.
Apart from having the legendary Tim Draper as an investor, the project also has the support of Don Tapscott, Lanzame Capital and SU Ventures among other notable names.
Token Sale Details
Swapy Network has scheduled a token sale to raise $30 million worth of Ether for financing its app and protocol development, a five-year project. The pre-sale will take place between 19th March and 19th April 2018 followed by a crowdsale from 26th April to 26th May 2018. The pre-sale and the crowdsale hard cap will each be $15 million USD.
The Swapy Network Verdict
Swapy Network seems like a company with a good perspective of future. Their administrators seem experienced and their plan is solid. Because of this, they look like somewhat of a solid investment.
The negative point is that you would not be buying shares, so if you want to invest only for the money and not for the service, you would have to wait the moment when the prices are high and then you should sell the tokens for profit.
Roadmap
Contacts
The developers can be contacted using the link below:
ETH Address : 0x4be0D62Fc296136326F1A6BB6E3A543472c41820
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