DAGT ICO: Credit Modeling Using Digital Assets On Blockchain?
DAGT is a blockchain and investment company based in China that uses the Ethereum blockchain to allow holders to access their holding in an efficient manner and to make assets flow quickly.
How Does DAGT Work?
The DAGT system has been built using Ethereum technology, which the company considers to be one of the best blockchain technologies out there at the moment. The company has created a platform in which lending can be made in an easy way because it completely eliminates the need for trust in the process.
Have you ever heard of smart contracts? By using the Ethereum technology, the smart contracts are pre-determined and the blockchain only enforces them, which enables companies to completely overcome the need for trust. As smart contracts are self enforceable, there is absolutely no need for you to necessarily trust other people because you will receive your money.
Basically, the users can use their own holdings to gain access to credit. If they do not pay, there is no need for the people lending the money to worry about it because they might lose their assets and holdings via smart contracts. The assets have to be used via the blockchain for the users to get their credit.
The credit agencies are sure to also profit from this exchange because they can be sure that they will have their money back. The DAGT platform is then able to link the people who really need some liquidity for their assets with companies and entities that are interested in lending money but do not want to risk their money because they do not know very well if they will ever be paid.
Unlike many companies that promise to cut the middlemen, DAGT platform will be your middlemen for a whole new business: using your holdings to get lendings and get liquidity.
The DAGT Token Sale
The company is currently selling tokens. The pre-sale will last until April 30 and you can use ETH or BTC to pay for it, but you need to invest at least 100 ETH to be able to invest, so you have to be a big investor with a lot of capital or a member of an investment group to be able to invest in DAGT right now.
The company will be selling 100,000,000 tokens during the whole sale. The company did not announce the price of the tokens nor the date that the main sale will happen at the time of this report.
The DAGT Team
The founding team of DAGT is composed by Chris Chen (CEO), which is an internet entrepreneur; Leo Ding (CTO), which has a masters degree in computer science; Reg Zhang (COO), which has worked in several banks in China.
Other relevant members of the DAGT staff are Shirley Shi (head of global development), which has already worked in this position in other Chinese blockchain companies; Trenton Creamer (overseas marketing director); PeiLong Li (senior developer) and Hunryu Liu (risk manager director).
DAGT’s “international team” is made of Trenton Creamer (overseas marketing director), Aaron Madved (blockchain consultant) and Anton Camolins (blockchain consultant). Together, they advise the company’s CEO and work to enable the company to continue its expansion around the world.
The DAGT Verdict
This company definitely has a lot of potential if you look at its core idea. Smart contracts are really ideal for situations like this one because if people already “have”the money but not the liquidity, they do not have a problem anymore to access their own money, even if it is via lending by third parties.