What Is The Project Management And It`S Basics

Today, blockchain technology has continued to warm the heart of players in a major sector of the economy. This action is as a result of the success recorded in the financial industry in relation to the performance of blockchain in fulfilling its purpose of creation. Customers can transfer an high-value money within the twinkle of an eye at an extremely low cost irrespective of the location of the recipient on the globe. Hence completely eliminating the monopoly of the bank as a centralized system

ABLE

The able is another application of blockchain technology in addressing the challenges related to the centralized system of the financial sector. Unlike the existing system where the bank act as intermediaries between lenders and depositors, hence exposing the members of its community to staff fraud, hackers menace, and unreasonable high-interest rate –to borrowers. The Able system is designed to completely eliminate all form of intermediaries, hence creating a direct link between the investors and the borrowers

FEATURES OF THE ABLE

Apart from the function of linking lenders and borrowers, the able also serves in the capacity of payroll (payment of staff salary in cryptocurrency) and credit score, payment & fee service and investment. The machine is ingeniously designed to link (without human intervention) investors and borrowers hence allowing for a consensus on shared value, hence allowing for liquidity and a major volume. More so, on a continuous basis member of its ecosystem are exposed to a vast amount of cryptocurrency data such as cryptocurrency long-term rates, short-term rates, and trading volume hereby facilitating the growth of the system

THE ABLE ECOSYSTEM

The able ecosystem is typically made up of lenders and investors. To invest in the system, investors need to submit an order stating the amount and desired interest, if at the moment of investing there exist a higher or equal interest in the order book, the investor order will be pushed into order book, otherwise the initiation is terminated. Same goes for a person interested in obtaining a loan. However, once an investment or lending transaction has been established based on the matching order book, an able smart contract is created to perform the investment or the loan as the case may be.

ABLE SYSTEM ARCHITECTURE

The able system provides members of its ecosystem with an opportunity to link their traditional bank account with the able account. Furthermore, users on the able platform can have access to third-party services like investment, micropayment, wealth management, and loans. An able user profile usually displays user basic information, a comprehensive list of all able accounts held (users can open as many accounts as needed), user fund subscription details and a Comprehensive payment history

ABLE ACCOUNTS

There are basically 6 types of account on the able platform depending on the need of the user. The accounts include free account, loan account, deposit account, fund account, collateral account. The account holds the user account information, account number, account type, email address and Able coin balance.

TOKEN

The accepted currency on the platform is the Able coin and Able dollar. The former is used for payment of service charge while the latter is used for interest payment. Able plans to create able coin amounting to about to 25 billion.