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Mass blockchain implementation is based on cutting out the middlemen. We’re announcing the launch of two projects that use this principle in their core, each focusing on their industry. The first of these, SOFIN, has its target set on a rapidly developing market of P2P lending services, and the second, Playkey, appeals to the vast audiences of gamers around the globe with their P2P gmaing service solutions.
A lot of people are screened from each other by different intermediaries and corporations thus left unable to form a social-based lending platform. With the span of technology some companies start to explore the uncharted territory.
Apparently, since almost any form of our daily communication regards finance to some extent, the first project launched now is a P2P lending platform, SOFIN, that promises to wipe out all the obstacles in the way individuals could interact lending or borrowing money without having massive layers of banks, bureaus and transfer systems.
SOFIN, a blockchain-based lending platform bringing together creditors and borrowers, announces its preliminary Initial Coin Offering (ICO) to develop its platform at its best for the SOFIN’s users.
In 2015, the global P2P lending market has exceeded $50 billion with Morgan Stanley predicting the market capitalization of P2P lending to reach $300 billion by 2020. In the United States, until 2015, the P2P lending market was standing at less than 1 percent. However, just in the course of one year, the volume of P2P loans has grown enormously by 123 percent. Direct, or P2P, lending has many benefits, including lower interest rates, higher credit rate along with an open marketplace where creditors and borrowers can negotiate more transparently and in an easier manner.
SOFIN (Social Financial Network), with several years of microloan operating experience in SOFIN’s first project, Expressmoney, developed a marketplace platform using the power of blockchain tech where borrowers and creditors were able to serve each other’s demands. With the platform development starting in August 2016, SOFIN has established a fully developed financial model for the new working platform, also having acquired all the legal documents necessary to launch a lending platform. The beta version of SOFIN’s platform is expected to be released in December 2017.
SOFIN believes every person in the world has a right and should be able to obtain the funds necessary to improve the quality of his or her life. SOFIN aims to remove both the barriers and the borders by creating a platform where everyone has an access to the financial resources they need, including citizens from less developed countries and regions. By making the organization’s platform decentralized, the daily needs of regular people can be addressed lending money to the borrowers on terms convenient for both parties excluding banks and other mediators from the process.
SOFIN seeks not just to meet the needs of the borrowers but the creditors as well. Many people, especially in European countries, are looking for ways to invest and multiply their savings. One of the most convenient and safest way to invest one’s savings is to deposit in the bank, however, it hardly pays any income for the investor so they have to look for other ways to get interest on their funds. That’s where P2P lending comes into the picture.
Unlike banks who deny loans for most of the population and companies, SOFIN has developed and tested a successful credit system. Borrowers, before taking loans from other users, will have to go through a verification procedure and will be assessed with a credit rating, which the prospector creditor will use to grant a loan.
Now it is even more encouraging that a growing crowd of businesses chase the same goal of establishing p2p environments in various lines of activities normally not associated with fintech. Out of those we shall highlight one — Playkey.
By providing blockchain-powered cloud gaming solutions to the community, Playkey allows everyone to play their favorite games even on low-end PCs.
The gaming market is continuously growing. From $70.57 billion in 2012, the gaming market’s capitalization is expected to increase to over $128 billion in 2020. From 2.2 billion active gamers on the globe, 47 percent of them (approximately 1 billion) spends money while gaming.
To play new games with normal graphics settings, so the game can be enjoyable, one has to purchase expensive hardware or gaming systems. As not everyone in the gaming community is able to pay for expensive hardware, a large part of the community is unable to play new games. Based on a July 2017 report by Steam, over 80 percent of the users had insufficient requirements to play one of the new games, Dishonored 2. Furthermore, over 68 percent of the gamers have low-end PCs, therefore, they struggle to play their favorite games.
These statistics present a surging demand for cloud gaming solutions. Cloud gaming relieves the stress from the users to buy the latest hardware for their computers saving them tons of money. This is where Playkey comes into the picture.
Playkey combines cloud gaming with the power of the blockchain tech to provide the best solution for the gamers’ community. In contrast with “traditional” cloud gaming platforms, Playkey utilizes mining to provide the best performance for the gamers. While gamers benefit from the high-speed and flawless gaming environment, miners, the ones who provide their powerful computers to the gamers , make profit by mining the PKT token which is the single universal cryptocurrency powering Playkey’s ecosystem. This way gamers can not only benefit from lower costs compared to traditional cloud gaming services, but even from connecting to the closest servers to have the best performance, all achieved with the blockchain tech and mining.
SOFIN will hold a PreICO, from November 6 to November 19, and an Initial Coin Offering (ICO), starting on December 11, 2017, on the KICKICO platform. During the PreICO, backers will have bonuses up to 75 percent while the supporters can expect up to 50 percent bonus during the ICO.
Playkey is currently holding its Initital Coin Offering (ICO) on KICKICO to gather funds to get the most out of their cloud gaming solutions. The Playkey ICO started on November 1, 2017, however, there are still 17 days left to contribute with Playkey offering a 15 percent bonus rate!
For both campaigns KICKICO gladly offers our traditional deal: every backer to support in ETH will get a 4% cashback bonus in KickCoins, while everyone backing in KickCoins is entitled to a 10% discount bonus.