- Published: September 11, 2022
- Updated: September 11, 2022
- University / College: University of Southampton
- Language: English
- Downloads: 5
INGOT; A FINANCIAL BRIDGING NETWORK
PUBLIC SCOPE
When we look into the financial transactions done in traditional institutions like the banks, so many difficulties are encountered by people. These difficulties however, ranges from the lack of transparency, all kinds of inefficiencies and many more. Investors find it hard to move their monetary assets from these traditional financial sector to other trading medium. So it more like their money is stuck to a system that is careless with their financial assets. But as blockchain surfaced, it brought about a better way out of this mess and a new way of reshaping the modern trade. Meanwhile, this new trend has been enjoyed until it was discovered recently that the crypto market hasn’t met up to the expectations of individuals in providing a means to transfer their financial assets from the existing financial markets to the crypto market which is extremely secured and transparent. So this has led to the disagreement that linger between both markets. So therefore a solution is sought for and INGOT happens to be the way out of these issues.
INGOT SCOPE
This system is built to create a completely unique change in the financial managements of individuals in the digital system and to bring about a balance between the existing money market and the digital market of cryptocurrency. With this platform, all investors will be able to transact at any period of time in a seemly manner using this network as a tool. However, the operations of this system will be done without any mediator service.
DISTINCT FEATURES OF INGOT
The purpose of this ecosystem will be realized by the integration of these core components in its build up; The IC brokerage which will provide investors with the liquidity they need in their financial investment or trading, an IC wallet that is capable of storing all types of cryptocurrency and the fiduciary currency, a traditional characteristics type of digital bank for all kinds of banking activities on the platform including the management of all bank account types used by investors in the banking sector, it also consists of an exchange system that can be used to trade all kinds of cryptocurrencies and will also support the use of other fiat money. There is also a crypto certifier in the system which enables all participants to be trained and educated on courses that has to do with cryptocurrencies and financial trading, which will afterwards issue a certificate of completion of the program to participants.
CONCLUSION
This financial setup will be able to handle all kinds of payments with the InGot Coin (IC) which it has in its system. This coin represents the token of the platform which will be used to earn investment returns from the ecosystem. Its foresight is to put an end to financial market challenges and birth a new way of transacting financial assets between the traditional market and the ever stable crypto market. Its solutions however, will be a lasting one that its participants will enjoy.