Swapy-the solution for universal access to credit

Introduction

Swapy is building a decentralized protocol with a suite of three integrated applications aiming to provide Universal Access to Credit.Swapy Data Market, which aims to transform usersĀ  financial data into self-determined value through a token-based system. This suite of decentralized applications will allow the individuals to hold their own data and to choose how many tokens they receive in exchange for it, and when, and with whom they want to share. The Swapy Data Market also aims to reduce the entrance barriers for new participants since huge pools of data will no longer be exclusive to large corporations, and instead will present an opportunity for the new entrants. The Swapy Company envision a world of efficient credit markets ,where consumers have the power and reap the benefits of Universal Access to Credit.With Swapy Network, individuals and/or companies are able to offer or consume services and collaborate within the ecosystem to decrease the prices of financial services,all the while being more inclusive of new entrants in the financial industry.

The Problem

-Information Asymmetry:Information asymmetry describes the imbalance of privileges needed to access information for credit purposes. In a world where the most assertive decisions regarding credit are drawn from a combination of algorithms and data, the access to information is essential for companies to improve their operations.

-The High Cost of Capital:The risk-adjusted of the cost of capital to lend in developing nations is very expensive. In Brazil, the index that determines the interest rate and other rates related to it is the Selic Rate. The Central Bank of Brazil has been gradually reducing the policy rate.

-The High Cost of Conglomerates:A significant reason why two billion individuals lack access to financial services is because traditional banks can not find cost-effective means of servicing all populations, especially those at the bottom of the socio-economic pyramid.

The Solution: Swapy Network

1. It facilitates offers of credit in order to lower the costs of capital.
2. It eliminates information asymmetry between participants through a commonly shared and updated data network.
3. It provides better data so that credit comwepanies can make better lending decisions and offer lower rates to good clients.
4. It encourages lower cost capital and better information which can reduce entrance barriers for new companies.

The Swapy Token (SWAPY)

The Swapy Token (SWAPY) is a ERC2012 token and the basic unit of value in the Swapy Network. One unit will have 18 decimal points, which means that the lowest value one can hold is 0.000000000000000001 SWAPY.New entrants can offer products and services on the Swapy Network and get paid in Swapy tokens. The Swapy Token is proposed to be used to pay for decentralized services, data, and realtime insights in the Swapy Network. That way, all players who join the network are incentivized to add value and contribute to the ongoing success of the community in order to see the establishment of a sustainable and selfmanaged network of participants.

For more information about Swapy company access the link whitepaper and Swapy.