Banks as well other financial institutions as we all know have proved over the years to be totally incompetent and unreliable, as they are mostly centralized, and as such very inefficient, lacking transparency and full of exploitation. Investors and traders today are faced with endless challenges trying to move their assets from one trade to another.
The Financial Market and Blockchain
With the introduction of the blockchain technology came solutions to a lot of these problems. Gradually the blockchain technology has continued to restructure modern trade and exchange. It presented a new solution to trading that removes the middlemen as well as other intermediaries, with its peer to peer protocol which enables people and institutions to transact business in a transparent, seamless, secure, and trustless manner. So far it has unlocked a lot of prospects and continually with time, individuals, businesses and corporations would welcome the revolution.
Challenges Facing the Current Market
In view of the fact that blockchain technology has the aptitude to deliver a fast, transparent, reliable, secure solution to the financial industry, the reality still remains that up till now there still exist flaws existing in the current available implementations. The crypto market was intended to pave an instant pathway for people who desire to transfer their assets from the traditional financial markets to the cryptocurrency markets but so far it hasn’t been able to actualize this. As a result, there is increasing dissonance between the financial market and crypto market, institutions and investors have continuously found it difficult make switches to the crypto market.
As a result of ineffectual market structure, the traditional financial establishments always take a lot of time processing investors data and trades. In the financial market the inclusion of a lot of middlemen in the transactions of business most times lead to a lot of time being wasted from one end to another, there is also the case of investors being charged high transaction fees at the different phases of the transaction. The crypto markets also are not left out, as they have their own apportion of the problem. There is the liquidity problem, lack of trust and a lot of technicalities and complexities associated with the crypto markets in which the participants undergo from time to time.
Ingot Solution
The IC ecosystem wishes to build up a revolutionary, matchless blockchain based ecosystem that will close the gap between the digital crypto market and the financial market. Delivering a complete toolset that will allow investors to execute transactions corresponding to their financial needs in an effective and fashionable manner.
Centered on blockchain technology, the IC ecosystem will make use of smart contracts that will aid trades in a transparent, secure and on the spot manner. This will get rid of the need for third parties and other external interventions that’s familiar to financial markets that restrain investors from fully participating in all markets. In a bid to make this a reality, Ingot Coin is incorporating 6 core components that make up the IC ecosystem;
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The IC Wallet is a blockchain based wallet where investors can safely store all their cryptocurrencies and fiat currencies.
The IC Brokerage will deliver the necessary liquidity for investors.
The IC Digital bank is a hybrid blockchain bank exhibiting some traditional market traits, the IC Digital bank will provide banking solutions like opening and managing different bank account types.
The IC Exchange is made up of the IC wallet, IC brokerage, and IC Digital bank, it will be able to satisfy the needs of participants. The IC exchange will support crypto, fiat and traditional financial instrument pairs.
The IC Crypto Certifier will deliver the essential tools for tutoring all participants, it will offer courses which and award participants certificates at the end of each course.
The IC ICO accelerator will make provision for marketing strategies, services, whitepaper creation and other indispensable services to upcoming ICOs in order to help them raise the needed funds for their project. ICO accelerator will also supervise the listing of ICOs on the IC exchange at reasonable prices.
Ingot Token & ICO Details
The Ingot Coin (IC) is the platform token of the Ingot ecosystem, it will serve a hybrid function – as a utility and security token. IC will be used for the payment of various services on the platform, token holders will be able to earn gains based on the growth of the Ingot ecosystem.
Team details
Conclusion
In summary Ingot hopes to eradicate the current market entry and exit problems, set up inclusion of participants from traditional and crypto markets through its advanced techniques and solutions. We will be able to see a rather more inclusive crypto market.
To get more information about this project, feel free to visit these links:
Website: https://www.ingotcoin.io/
ANN Thread: https://bitcointalk.org/index.php?topic=3581009
Whitepaper: https://www.ingotcoin.io/documents/en/white-paper.pdf
Telegram: https://t.me/INGOTCoin
Author's details:
Username: templar97
BTT profile: https://bitcointalk.org/index.php?action=profile;u=1817986;