The economy of the modern world is changing at an incredible pace. The recently emerged cryptocurrencies and Blockchain technologies are the most discussed issues today. Many banking systems claim that this technology, like virtual currencies, is a threat to the existence of the banking system. And it's pretty easy to explain.
The blockchain technology implies full decentralization, in which the interaction is carried out according to the Peer-to-Peer principle. That is, this technology completely excludes participation in agreements of other parties, such as banks, notaries and a number of other institutions, which significantly reduces the cost of operations.
It is also important to note that peer-to-peer interaction is gaining popularity not only in the Blockchain technology, but also in general. A clear confirmation of this are freelancers who want to honestly get an award for their work. Hiring freelancers is beneficial for most companies, since in this case there is no need to provide staff with a permanent salary and a full social package. That is why currently 36 percent of US employees are freelancers. Moreover, based on the growth trend in this sector, in 2020 about 50 percent of US workers will be freelancers.
However, despite the high popularity of p2p transactions, the following factors hinder the development of this market:
lack of trust, since the participants in the deals are not personally acquainted and are not sure of each other’s reliability;
the lack of a platform that allows you to perform the most important operations in the p2p format;
the inability to pay for goods and services using cryptocurrency.
Solve all these problems will allow the platform Crypt-ON.
Objective of the project
The main goal of the creators of the Crypto-ON platform is to unite people from all over the world involved in the cryptocurrency industry for comfortable and effective interaction with each other in various areas in accordance with the p2p model.
Operating principle
The Crypt-ON platform will be used for:
fair and secure transactions;
in exchange for freelancers;
obtaining or granting loans on favorable terms in p2p format;
exchange of cryptocurrencies for fiat money and vice versa.
When performing each of the actions, a smart contract will be concluded, which guarantees the conditions for carrying out transactions. It is important to note that funds deposited under one smart contract cannot be used for other purposes. They can be transferred to the account of the contractor or the recipient or can be returned to the sender.
The interaction between the participants of Crypt-ON will be implemented using a special interface that will be available on the official website of the platform, as well as on iOS and Android devices.
Each operation will use a server service that performs the following functions:
generation of wallets;
balance check;
transfer and control of reserves;
provision of data on exchange rates;
notifies you of important events.
The arbitration system will be used to resolve various disputes. Initially, the participants will be the platform developers themselves. Then they will be replaced by independent experts with knowledge in a certain field who will be selected by the platform participants.
In addition, within the framework of Crypt-ON, a reputation system will be introduced, which will allow us to screen out unscrupulous site members.
The developers will also introduce a transaction insurance system that will be available for services such as p2p lending and escrow. However, insurance will be provided subject to the use of i-Point Domestic Coins (IPT). The size of the insurance premium will depend on such parameters as the volume of the transaction and the rating of the participant.
The main currency of the platform will be I-Point tokens (IPT), which will provide its owners with a number of advantages in the form of transaction insurance, a 50 percent discount in calculations, a vote to develop the site and fix the transaction amount in US dollars.
MVP
At the moment, the project has already released its own MVP, which is available in English and Russian. Unfortunately, at present, only the Escrow function is possible for testing, where each user can:
to have a deal;
review the status of the agreements;
submit a claim to arbitration;
choose an arbitrator.
Particular attention should be paid to the choice of arbitrators. Each member of the platform can choose a Crypt-ON arbitrator - an external platform or one who has passed the accreditation process. In the arbitration filter, you can also specify the language of the arbitrator or participants in the transaction and the transaction's belonging to a specific area.
Dates and details of TGE
TGE (production and sale of tokens to raise funds for the development and promotion of the platform) will be held from October 1 of this year to January 21, 2019. As part of TGE, 154 million coins will be issued worth $ 0.1 to be sold.
Project Softcap - 4 million dollars, hardcap - 16 million dollars.
TGE stages:
Conclusion
Given the growing popularity of p2p operations, the creation of a platform that solves problems in this area is a very important project. Based on the projections that about 50 percent of the population will be freelancers in 2020, it can be said with confidence that this platform is guaranteed to bring together a very large audience interested in fair financial relations.
In this regard, investment in Crypt-ON can bring huge profits in the near future.
Official resources of the project Crypt-ON:
WEBSITE: https://crypt-on.io
TELEGRAM: https://t.me/Crypt_ON_En
WHITEPAPER: https://drive.google.com/file/d/1ItcfVNhOnSiXhRlf-OIAjZDSnfJuIS66/view
ANN THREAD: https // bitcointalk.org/index.php?topic=3530713.0
FACEBOOK: https://www.facebook.com/CryptOnDAOsystem
TWITTER: https://twitter.com/Crypt__ON
MEDIUM: https://medium.com/@Crypt__ON
REDDIT: https: //www.reddit.com/user/crypt-on
INSTAGRAM: https://www.instagram.com/crypt_on/
LINKEDIN: https://www.linkedin.com/company/crypt-on/
YOUTUBE: https: //www.youtube.com/channel/UCw20otlmR4AqTQA0C_IYUQA
GITHUB: https://github.com/Crypto-ON
AUTHOR: Gambangcity
BITCOINTALK: https://bitcointalk.org/index.php?action=profile;u=1855982
ETH: 0xbd4e6B6E19c55D117badfa5C218Ae03263df6072
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