Cryptocurrency is currently disrupting a wide range of different industries. The international decentralized nature of cryptocurrencies makes it possible for cryptocurrency users to transfer value between one another without the interference of international banks, and more importantly without their fees and delays.
There are many different startups taking advantage of the benefits of cryptocurrencies, leveraging the dynamic nature of the blockchain to create solutions that completely bypass traditional financial institutions.
One of the most popular and effective uses of blockchain technology is token sales, or initial coin offerings. In initial coin coin offerings, or ICOs, startups gather launch capital by selling tokens that can then be used on the platform once it is created. While there are a number of less effective and less reputable ICOs, the vast majority are extremely popular, and have been known to generate hundreds of millions of dollars in capital in a matter of minutes.
One of the most interesting applications of decentralized currencies is as a way to loan money between individuals. Newer cryptocurrencies, such as Ethereum blockchain based tokens, allow developers to create programmable smart contracts that facilitate the lending process without the need for a centralized broker.
A new ICO is aiming to take advantage of this functionality by creating an Ethereum based peer to peer lending platform that facilitates the direct lending of funds between individuals. In this article, we’ll take a look at the Ethercash ICO and find out how it works to help you determine whether it’s a coin offering worth participating in.
What Is EtherCash?
Ethercash is a new ICO that aims to create a peer-to-peer lending ecosystem using tokens issued on the Ethereum network. Ethercash provides crypto backed peer to peer lending that allows users to lend crypto to anybody in the world with a unique Border Free Loans system.
These loans typically provide higher returns than normal bank deposits, and allow users to borrow 70% to 80% of crypto value without needing to liquidate their assets. Ethercash loans are backed by smart contracts on the Ethereum blockchain, and operate in a safe and transparent environment.
In addition to lending services, Ethercash also facilitates the international transfer of funds with minimal fees, as well as a secure cryptocurrency based debit card that allows users to use their cryptocurrency in a direct manner via a physical debit card. This card can be used to withdraw fiat currency from ATMs, shop online, and store cryptocurrency.
The EtherCash ICO
The Ethercash pre-launch ICO will start on the 25th of October 2017, and conclude on the 7th of November. The ICO itself starts on the 15th of November, and continues to the 19th of December. The Ethercash ICO features a soft cap of $15 million, and a hard cap of $100 million. Ethercash tokens can be purchased with either BTC or ETH. The total supply of Ethercash tokens amounts to 360,000,000 tokens.
The Ethercash platform is one of the more intelligently constructed peer to peer lending blockchain platforms to launch recently, and is definitely worth keeping an eye on.