Alchemy Coin Solidifies Peer-to-Peer Advantage; Signs ARAW Deal for $1M
New York, New York
August 13, 2018
Alchemy Coin, a global leader in peer-to-peer lending, announced today an exclusive partnership deal with U.K.-based ARAW for decentralized payments between borrowers and lenders on their world-class platform. The move advances Alchemy Coin’s first-mover advantage in the race to bring affordable credit to the developing world in the blockchain ecosystem.
“We can’t do this by ourselves, and we know it,” says Alchemy Coin CEO Justin Jung. “All along, we have made it clear our intention to partner with cutting-edge service providers who are pioneers in all spheres of finance and technology, and no one fits the bill in that regard quite like ARAW. This is an important step in the future development of Alchemy Coin.”
Peer-to-peer lending is for-profit financial transactions occurring directly between individuals or “peers” without the intermediation of a traditional financial institution. When you look at it carefully, you will realize that this is how lending was done centuries ago, before banks emerged and became the norm: communities borrowed and invested directly in its members. The Internet has now made this concept available to virtually anyone, offering an opportunity for borrowers to get better rates, and investors to earn better returns.
“ARAW’s vision is to be at the forefront of the global Blockchain User Adoption”, says Krutesh Shah, CEO of ARAW, “by using intuitive and seamless integration of E-Commerce channels with Decentralized Payments so people across the world can benefit from cryptocurrencies without changing their shopping behavior or understanding the complexity of the blockchain technology.”
The volume of global P2P payments and remittances is eclipsing $1 trillion yearly, with per annum growth rates in P2P lending volumes reaching 50% — 80% in various markets during the past few years, according to a 2017 Medium post by micro-influencer Paul Tom. The appearance of digital technologies, blockchain, and cryptocurrencies such as Bitcoin, has also facilitated consumer and investor adoption of online marketplaces.
Today, P2P platforms are among the fastest growing segments in the financial services space. Peer-to-Peer volumes have become so large and have grown at such a fast rate that large financial institutions are taking notice and considering entering the P2P lending market, either through investing in or collaborating with these marketplaces. Recently, a report by Cambridge University in collaboration with KPMG placed P2P consumer lending at about $367 million in 2015 (making it the largest market segment of alternative finance), and placed P2P business lending at about $213 million (ranking second in the same segment).
Alchemy Coin is on an absolute roll this summer as the company has announced the hiring of several prominent Wall St. bankers, prepares to open a Seattle office to serve as a nexus to Asia, and continues to raise funds in an impressive manner for its ICO despite a brutal year-long bear market in Bitcoin and other cryptocurrencies as the slow pace of adoption and regulatory fears crimp investors demand for digital assets for now.
“The Alchemy Coin blockchain ecosystem becomes demonstrably stronger, more robust and financially viable today after we formed our long-term alliance with the brilliant minds at ARAW, led by Krutesh and his team,” says Mr. Jung. “As we take our next steps together on this wonderful journey, we are confident we are building the right technologies at the right time in a turning point in human history.”
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The Araw platform addresses fundamental problems in the e-commerce and cryptocurrency economies. Firstly, retailers online and offline offer restrictive reward systems bundled with their services — they are often of little value to the consumer given their limited nature. Reward systems in commerce as a whole are underutilized due to the lack of technological investment. Coincidentally, many companies find it difficult to provide attractive reward schemes as they risk undervaluing their services. The ‘Unified Reward System’ allows service providers to become an ARAW token distributor, allowing them to control the format of their reward plans. The ARAW token now acts as more than a simple reward point — as it is utilized and redeemable across all of ARAW’s ecosystem participants. Additionally, owners of ARAW are able to convert their tokens into fiat currencies via ARAW mobile wallet & take cashback to their associated bank account. Secondly, the complex barrier to entry into the cryptocurrency market limits the potential value of the crypto market as a whole. The technologies surrounding ARAW are strategically built for the platform to support a ‘Unified Reward System’ — ensuring ease of adoption and maximizing consumer outreach.
For more information on ARAW check out: https://arawtoken.io/
Alchemy is a blockchain-based peer-to-peer (P2P) lending marketplace. The platform allows for instant and direct lending between supply-side lenders and demand-side borrowers from all over the world in a trusted manner using the advantages of smart contracts and blockchain technology. We offer a unique architecture to analyze and structure a credit risk-adjusted rate with the utilization of Artificial Intelligence and Machine Learning technologies. We aim to revolutionize the peer-to-peer lending market and serve as the leading infrastructure for credit providers and credit seekers. Alchemy will be the first peer-to-peer (P2P) lending platform that utilizes blockchain technology to reduce high credit risk and high default rate, while at the same time offering a risk-adjusted downside protection for capital commitment lenders. As Alchemy P2P credit products grow and the network expands, we aim to become the leading source of personal loan providers for individuals around the world.
For more information on Alchemy or to participate in the ICO check out: https://www.alchemycoin.io/
