Hello and welcome to this blog post about BASIC White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the BASIC white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the BASIC (BASIC).
I can ensue you that, you will be able to understand every bits and pieces related to BASIC (BASIC) after going through the BASIC white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
BASIC White Paper
BASIC white paper will be going to provide you, all the information that is needed to get started with BASIC (BASIC), including the inspiration for creating, the problem it is trying to solve and the solution proposed by BASIC (BASIC).
“ Basic is the next-generation crypto finance platform that allows lenders and borrowers from all over the world to better manage their crypto assets with enhanced capital efficiency. Lenders earn interest by depositing their tokens into Basic’s token-specific wallet, and use those tokens as a collateral to borrow other tokens (i) initially up to allowed Loan-To-Value (LTV) per product and (ii) ultimately with zero collateral with high enough credit wihin the platform by demonstrating healthy behaviors over recurring crypto finance transactions.
Blockchain and smart contracts promote transparency and automation of the Basic’s ecosystem from loan issuance, LTV monitoring, rewarding to credit rating. At the same time, the introduction of the unsecured credit based loans will enhance the efficiencies of the crypto finance industry with possibilities to exchange the credit feeds among the traditional credit institutions and other crypto finance platforms.
Although Blockchain and smart contracts are deeply embedded in the ecosystem of Basic, it is important to note that Basic is not entirely a decentralized finance (DeFi) application. While the Decentralized Finanace applications have potentials to provide meaningful benefits over centralized applications, our roles and responsibility are different.
We have witnessed the needs for customers, both retail and the institutional, to enter the crypto industry in a secure and regulated environment via a trustworthy and regulated partner. Starting out as a crypto finance platform, Basic strives to be regulated financial institution with a global presence to serve all those who will be entering the crypto markets.”
White Paper Link: BASIC (BASIC) White Paper
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