FOURTH INDUSTRIAL REVOLUTION — INDUSTRY 4.0
The world right now runs on information. The fourth industrial revolution is being driven by the Internet and the easy access to knowledge and information it provides. The biggest industry that is under immediate threat of modern technology throwing out legacy systems, is the Financial Services Industry.
The world’s Finance sector and industry is probably the most rigid industry there is. And for good reason, because of the high stakes. Another reason that the financial industry and sector have been so rigid is because of the lack thereof another viable option. But over the last decade, that has changed.
The blockchain is well-equipped and poised to take over the financial industry’s load and there are people all over the world pushing for this change. The blockchain is a highly disruptive technology because in order to promote large scale adoption of it, it is imperative for companies to throw out their old systems.
But with all of this talk of the blockchain taking over the financial industry and sector, there are still many problems and services that the cryptocurrency market does not provide to its community. That the market will have to start providing if it is in any idea of rebuilding the finance sector. One of these problems of the cryptocurrency industry is the lack thereof options to take loans.
This is something that the team at Sociocryptoneering is about to change.
Their solution for instant loans against cryptocurrency holdings is filling one of the cryptocurrency market and the blockchain industry’s biggest voids.
BMT TAN is a cryptocurrency project that is powered by Etherium Ecosystem with SWIFT and CIPS. P2P Cash is award winning at Harvard that is providing finance services to people all across the globe for the past decade. P2P Cash has a lot of strong partnerships and a team that has a lot of experience in the Financial Sector and Telecommunication Industry.
The idea and problem that BMT is solving is essentially, the really low liquidity speeds and troubles that the cryptocurrency owner faces. The identity and build of most of the cryptocurrencies in the market right now are designed in such a way that make them very idle and unincluded in the investors day-to-day. Because of which both the investor and the market is affected. The investor because he/she cannot make instant buys and decisions based on the market fluctuations and the market because it is handicapping itself by not cashing in on such opportunities.
The BMT platform is looking to solve the following problems with its product and interface:
Idle Value of Assets
The only way to make fiat money off your cryptocurrency investments, right now, is by selling. In order to change that BMT is already implementing with BEDECO, SENCOP, ISOCS, SMC, OWGs planning to simply unlock the potential that these investments have by providing loans based on the cryptocurrency assets that an individual holds.
Slow Liquidation Process
A problem that all cryptocurrencies across the market face is the liquidation speeds it has. They are very slow and the process is cumbersome because of the platforms and exchanges we use. The work around that BMT TAN has found for this problem is the allotment and issuing of fiat currencies (USD, CNY, PHP, GBP, JPY, etc) immediately by staking the cryptocurrency as collateral.
Loss of Ownership
When the holder of a cryptocurrency sells it because he/she is in dire need of money, they are opting out of the future price hikes that the coin is likely to see. They are forgoing the potential that the coin may have because of pressing requirement for fiat. This is solved by BMT TAN by holding the digital asset and giving money in exchange and returning the digital asset when the money is repaid.
Transaction Fees
The process of liquidating digital assets is taken out on a platform or an exchange. Most exchanges ask for exorbhitant amounts in transaction fees. Which essentially carves out of your holding. The BMT TAN platform and wallet have no transaction fee whatsoever, the only money the make is the small margin of interest that is imposed on all the loans.
Lack of Trust
The cryptocurrency market is a largely trustless environment. It has been the butt of a lot of hacks, scams and schemes and the average participant needs to be vary of this.
In order to establish an enforced amount of trust in the system, the CEOs of Sociocryptoneering are already in cooperation with global team harnessing the potential of the smart contract system of Blockchain 7.3.
