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  • FIC Network (eFIC) ICO Review

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    FIC Network is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

    Essential Information

    Ico TimeUnknown – Unknown
    Token NameFIC Network
    Token SymboleFIC
    WhitepaperView Whitepaper
    Website LinkHome
    Price1 eFIC = 0.1 USD
    PlatformEthereum
    Soft Cap3,500 ETH
    Hard Cap16,000,000 USD

    More about FIC Network (eFIC) ICO:

    FIC Network is the world’s first fixed-income network for cryptocurrencies. It enables network participants to pay with crypto for bonds, debt or other financial instruments, hedge their investment with crypto futures, and earn stable interest on cryptocurrency. We are attacking a $230 trillion global credit and fixed income financial markets.

    FIC Network is an end-to-end decentralized fixed income securities network that enables the listing, exchange, and securitization of fixed income financial instruments. FIC Network is an asset-agnostic, multi-currency distributed ledger primarily focused towards institutions using traditional currencies and adapting to cryptocurrency markets. Crypto hedge funds and traditional asset managers will greatly benefit from cost savings and expanded market opportunities.

    A fixed-income security is typically a loan made by an investor to a borrower, often a government or corporate entity. The borrower, or issuer, promises to pay a set amount of interest, called the coupon, on a predetermined basis until a set date. The issuer returns the principal amount, also called the face or par value, to the investor on or before the maturity date. The typical role of fixed-income securities in a portfolio is to generate regular income, reduce overall risk, and protect against volatility. The securities can appreciate in value and offer more stability of principal than other investments. As of Q1 2017, the size of the worldwide bond market was estimated at nearly $90 trillion, of which the share of the U.S. bond market debt was $38.4 trillion according to Bank for International Settlements (BIS). There are two types of markets for fixed-income securities: Primary and Secondary. A Primary Market occurs when the proceeds from the sale of securities go directly to the issuer, while the Secondary Market is the market where previously issued securities are traded. Proceeds from transactions in the Secondary Market do not go to the issuer, but to the seller of the security. Secondary Trades occur on the Exchange Market or Over-the-Counter Markets (OTC). The Exchange Market is a market where listed securities are bought and sold. “Listed Security” refers to any security that meets certain criteria, prior to its being allowed to trade on an exchange. The OTC market is an interdealer market in which the main function is to provide a marketplace for securities that are not listed on any exchange. There are no central marketplaces in the OTC market.

    Introduction

    Financial markets are in the midst of a revolution, with the traditional trust mechanisms built around centralized third parties being replaced by distributed ledger protocols. Entire financial ecosystems are emerging on distributed ledgers and the technologies built around them. Cryptocurrency and the token market are rapidly growing, with a market capitalization now over $160 billion. Factury Inc. introduces a blockchain-based fixed income securities model that reduces costs, operational friction, and risks while improving auditability and transparency for the industry. With the introduction of the instant settlement, investors will be able to allocate their capital more efficiently and with higher velocity. The network will cover every financial instrument in the fixed income space, starting with consumer and business loans, followed by bonds, structured products, and other financial instruments. FIC Network will accommodate any type of currency, including cryptocurrencies, and financial instrument. The FIC Network token is a utility token to be used as a service fee, but also prevents network spam and denial of service attacks.

    Executive Summary

    FIC Network is an end-to-end decentralized fixed income securities network that enables the listing, exchange, and securitization of fixed income financial instruments. FIC Network is an asset-agnostic, multi-currency distributed ledger primarily focused towards institutions using traditional currencies and adapting to cryptocurrency markets. Crypto hedge funds and traditional asset managers will greatly benefit from cost savings and expanded market opportunities.

    Problem

    1. Existing crypto tokens are operating as currencies or stocks and there is no real fixedincome offering. As the crypto markets mature, earning interest on your assets and paying interest to borrow assets will become the largest financial market in crypto beyond currencies and securities.

    2. Conventional fixed income security markets based on centralized third parties are known for many inherent drawbacks in terms of friction, illiquidity, lack of interoperability, asymmetry of information and operational risks. On the other hand, these markets only support fiat currencies and there is no such market for the cryptocurrency space, which is growing at a rapid pace.

    Solution

    Our team has been building the network since early 2016, attracting seed funding from three institutional investors: Boost VC, Startupbootcamp Fintech NYC, Bialla Venture Partners. We are building a blockchain-based fixed income market that will operate similarly in concept to the traditional systems, but will reduce costs, operational friction, and risks along with improved auditability and transparency. Our technology will allow the users to list, buy, and sell any type of fixed income securities/financial instruments, including loans, bonds, collateralized loan obligations (CLOs), asset-backed securities (ABS), syndicated loans, credit default swaps (CDS), and futures. The network is primarily meant for financial institutions such as crypto asset managers, banks, investment banks, lending companies, hedge funds, credit funds, insurance companies, family offices, and corporations, as well as for service providers like valuation firms, auditors, law firms, and ratings agencies. The solution will be opened to individuals in later iterations. This will also open the door to a cryptocurrency fixed income market, a growing need in the crypto space. In addition, the currency exchange is integrated into the system, enabling the seamless trading of financial instruments among different currencies.

    FIC Network will support the consumer and business loan market in its first phase of implementation and it will then expand into other fixed income financial instruments.

    FIC Token

    FIC token is a utility token, used to perform activities on the network, such as listing, trading, and holding financial instruments. It is not backed by, and cannot be exchanged against, any financial instruments.

    Our Team

    We have been working on a blockchain based fixed income market model for over a year. Our team consists of the right mix of talents, which has been through renowned startup accelerators along with VC support.

    Our vision

    Our vision is to become the de facto financial network for the global fixed income market. Our mission Our mission is to build an end-to-end, blockchain-based fixed income network that enables the participants to source, buy, and sell financial products in a secure, easy, inexpensive, transparent, and accessible way.

    Securitization and Asset-Backed Securities (ABS) Securitizations can be constructed of any underlying cash-flowing asset: a loan, a singleissuer bond, or even other securitization bonds. The creation of a securitization on the FIC Network is simple and transparent, with every underlying asset that goes into the structure being easily traceable to the last cent. This elegantly solves many of the opacity problems that arose during the 2008 crisis — indeed, CLOs and CDOs would never have become the problems they did because the FIC Network would have provided such transparency that initial and subsequent pricing would have more appropriately represented the real value of the underlying securities. Large Loan Syndication The ability to syndicate through FIC Network provides a new level of functionality to loans, larger-scale commercial mortgages, securities, and corporate bonds. The process seamlessly scales from syndicating small-scale personal loans, such as in P2P lending platforms like Lending Club, to billion-dollar corporate issuances. Every participant finally has a tamperproof cryptographic guarantee to receive back his funds if the initial syndication target is not met and the loan remains undistributed. The ability to syndicate financial instruments of all sizes allows investors to deploy capital more efficiently across different asset types since scale requirements in each asset type are dramatically reduced. Credit Default Swaps (CDS) Credit Default Swap (CDS) can be created against any of above-mentioned financial instruments – loans, corporate bonds, CDOs, syndications, futures, options, and other CDSs. In FIC Network, above-mentioned instruments are standardized, and automatically and irreversibly enables all CDS owners to unilaterally claim the compensation in the event of default . For loans and corporate bonds, default occurs when the borrower fails to pay for the pre-agreed amount of days, for CDOs default occurs when the pre-agreed share of underlying assets have defaulted, for syndication default occurs if syndication fails, and for future options or CDSs default occurs when the seller fails to fulfill his side of the contract. Future Options Future Options are flexible financial instruments. They can be used to defer an exchange of currencies to future in order to hedge currency exposure (for example when investing BTC but buying USD loans) or to defer an exchange of currency versus any financial asset mentioned above in order to speculate with leverage. FIC Network brings standardization,transparency, and cryptographic security to future options, to increase liquidity in the market and eliminate selective default risk.

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