P2P platform technology is poised to grow into a multi-billion industry worldwide. At present, the P2P landscape has been handled by various specialised lending platforms and has been listed as among the most meaningful industries with increasing competition. Traditionally, P2P platforms provide services on credit assessment, determining borrower credit risks, moderating interaction between both parties, etc. While providing all the services from this field, Crypt-ON, a new cryptocurrency exchange platform will add escrow services and enable access to professional network for registered crypto-enthusiasts.
In face of the global P2P lending market
The mission of the project is to provide an easy-to-understand portal for crypto investors. The whole scope of the services will be comprised by escrow agreements, secure trades in cryptocurrencies, exchange services as well as professional networking which is a marketplace for crypto-enthusiasts to search for and find positions of interest. Crypt-ON’s structure is two-sided. That is, it has been designed for the borrower and the investor side. While both the application and the order placement process are being conducted online, a direct participation between two parties is enabled.
All transaction terms will be stored in a smart contract. Should any questionable matters between a buyer and a seller occur, arbitration system will be implemented to resolve disputes related to the contract. Bilateral trade agreements are intended to lower the trade barriers and strengthen communication between the participants.
Loans can be obtained in IPT tokens, BTC, ETH, LTC and Stablecoin. With the rating mechanisms, any risks with regard to individual and agreement terms can be evaluated. Both lenders and borrowers can place announcements with specified terms. Once suitable condition are met,both parties can move out to the smart-contract-stage. Funds will be automatically transferred to the user’s account.
Crypto-Freelance job exchange
Crypt-On freelance marketplace will match buyers of services, e.g. SMEs, with teams of self-employed individuals. Despite the recent growth, online job marketplaces still face significant challenges. To address those issues, Crypt-On will propose the following structure. A rating system will allow companies to gain an understanding of qualifications and skills of freelancers registered on the platform. As for the terms of corporations, both parties will be able to negotiate, agree or deny specific conditions. All payments will be made with the use of the IPT tokens. Since the platform also provides exchange services, stakeholders can convert the in-house token into well-established cryptocurrencies, such as BTC, ETH or LTC. Arbitration system can also be implemented in this case.
Pre-Sale has started on October, 1 and will close on October 30, 2018 followed by the main public sale starting on October 31, 2018 and ending on January 21, 2019.
A wide range of P2P lending platforms has emerged in the recent years. As indicated in the scope of activities within its framework, P2P platforms have a potential to overcome their conventional competitors from the banking industry since they offer major competitive advantages in bringing together borrowers and lenders, such as extremely low fees, wide opportunities in obtaining loans, etc.
Direct investor participation is a main feature that distincts from the traditional banking paradigm, giving investors a continuous exposure to the crypto assets. The design of the Crypt-ON lending marketplace will additionally be strengthened with a professional network and the arbitration system to resolve disputes. In this context, Crypt-ON gives considerable attention to bilateral trade agreements. With regard to the freelance marketplace, Crypt-ON will mitigate any risks through reputation and arbitration mechanisms.