Published On: Wed, Nov 22nd, 2017

Etherecash Launches ICO, Focuses on the Unbanked

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Following a successful pre-ICO, Etherecash has announced a public ICO that launched November 15th and will end December 19th. Focusing on the 2.5 billion unbanked, Etherecash looks to excel in both spending and sending, as well as providing a peer-to-peer lending platform, to enable those with little or no credit history the ability to access funds.
[Note: This is a press release.]
The lending industry has seen a boon since the economic crisis of 2008, but much of the new business has moved into the online world. The availability of credit in the traditional market for individuals and SMEs is not what it was pre-2008, thus creating demand for internet and mobile solutions like The Lending Club, which was responsible for over $55 billion in new loans during 2017. Morgan Stanley estimates that, globally, P2P lending could approach nearly half a trillion dollars by 2020.

Implementation of blockchain technology will allow more people around the world to access funds when they need it, and the use of smart contracts will ensure that repayment is enforced. A user’s crypto portfolio will determine how much one can request to loan, as it serves as collateral.
Furthermore, blockchain technology will help reduce the amount of …

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